As per the latest news, the interest rate for home savings accounts, with balances over Rs 1 lakh, has been increased by 100 basis points, to 7% from 6%.
Yes Bank, a leading private sector bank in the country, has recently announced to increase its savings deposit rates by 100 basis points to 7 per cent for domestic customers.
In a statement issued by the bank, “The interest rate for resident savings accounts, with balances over Rs 1 lakh, has been raised by 100 basis points, to 7 per cent from 6 per cent.”
Moreover, this is in addition to the present 6% interest given to customers by the bank for balances less than Rs 1 Lakh. Read more
