Suryoday SFB Changes Savings Account Interest Rates (W.e.f. January 20, 2022)

Suryoday Small Finance Bank (SFB) has changed the interest rates on domestic, non-resident, and non-resident savings accounts. The new rates are effective as of today, January 20, 2022, according to the bank's official website. Savings Ujjwal, Savings Aditya, Savings Classic, Savings Supreme, Savings Health & Wellness, and Basic Savings Bank Deposit Account are among the savings accounts offered by Suryoday Small Finance Bank to its customers. The bank is currently giving an interest rate of 4.00 percent to 6.25 percent on these accounts.

Suryoday Small Finance Bank Savings Bank Account Interest Rates

With effect from 20th January 2022, the bank is offering an interest rate of 4.00% on a daily closing balance slab of up to and including Rs. 1 Lakh. Suryoday Small Finance Bank is currently giving a 6.25 percent interest rate on daily closing balance slabs of more than Rs. 1 lakh up to and including Rs. 1 crore, and a 5.00 percent interest rate on daily closing balance slabs of more than Rs. 1 Cr. These rates apply to domestic, non-resident, and non-resident saving accounts. Earlier the bank offered a 6.00 percent interest rate on daily closing balance slabs of above Rs. 10 Lakhs from June 1, 2020 to January 19, 2022, but it has now lowered its interest rates to 5.00 percent on daily closing balance slabs of above Rs. 1 Cr. The bank makes interest payout on a monthly basis on the last day of the calendar month. And from today, Suryoday Small Finance Bank will offer the below-listed interest rates on the incremental amount based on the daily closing balance in the savings account of a customer.

Daily Closing Balance Slabs (Domestic/NRE/NRO)	% rate per annum
Up to and including Rs. 1 Lakh	4.00%
Above Rs. 1 Lakh up to & including Rs. 1 crore	6.25%
Above Rs. 1 crore	5.00%
Source: Bank Website. W.e.f. January 20, 2022

Note: As an exclusive alert for fixed deposit customers, two major private sector banks, ICICI Bank and Axis Bank have changed interest rates on fixed deposits of less than Rs. 2 Cr today, January 20, 2022. Please check the following links for more details.