Private sector bank revises interest rates on saving accounts

Mumbai: HDFC Bank has revised the interest rates of savings account. The private sector bank in the country announced that investors will receive a 3% annual interest rate on saving accounts having balances under Rs 50 lakh. Saving accounts having a balance of more than Rs 50 lakh will now receive an interest rate of 3.50%. The new rates are applicable on domestic, NRO and NRE deposit saving accounts. HDFC Bank revises interest rates on saving accounts and fixed deposit accounts once every quarter.

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HDFC Bank had earlier revised interest rates on fixed deposits. Besides HDFC Bank, several other banks have also revised their interest rates.