These 2 Bank Revises Savings Account Interest Rates In January 2022: Details Inside

Punjab National Bank and Suryoday Small Finance Bank, two of the country's well-known lenders, have revised their savings account interest rates. On January 1, 2022, Punjab National Bank amended its savings account interest rates, while Suryoday Small Finance Bank's new savings account interest rates will take effect on January 20, 2022. The latest interest rates on these two banks' savings accounts will be discussed below.

Suryoday Small Finance Bank Savings Account Interest Rates

Suryoday Small Finance Bank now offers a 4.00 percent interest rate on daily savings account balances up to and including Rs. 1 lakh, 6.25 percent on daily closing balances above Rs. 1 lakh up to and including Rs. 10 lakhs, and 6.00 percent on daily closing balances over Rs. 10 lakhs. From June 1, 2020, until January 19, 2022, these rates are in force. The bank, on the other hand, is all set to revise interest rates on daily closing balances of more than Rs 1 crore. Suryoday Small Finance Bank would give a 5.00 percent interest rate on daily closing balances of more than Rs. 1 crore starting January 20, 2022.

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. 10 Lakhs	6.25%
Above Rs. 10 Lakhs	6.00%
Source: Bank Website. (Effective: From June 01 2020 till January 19, 2022)

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. (Effective: From January 20, 2022)

Punjab National Bank

Punjab National Bank, a public sector lender, has recently changed its interest rates on domestic and NRI savings accounts, which entered into force on January 1, 2022. Following the most recent revision, the bank's savings account holders will now earn an interest rate of 2.80 percent p.a. on saving account balances of less than Rs. 10 lakh, 2.85 percent p.a. on saving account balances of Rs.10 lakh and above to less than Rs.500 crore, and 3.25 percent p.a. on saving account balances of Rs.500 crore and above respectively. The latest interest rates on Punjab National Bank's domestic and NRI savings accounts are mentioned below (W.E.F. 1st January 2022).

Saving Fund Balance	Rate of interest per annum
Saving Fund Account Balance below Rs. 10 Lakh	2.80% p.a.
Saving Fund Account Balance of Rs.10 Lakh & above to below Rs.500 Cr	2.85% p.a.
Saving Fund Account Balance of Rs.500 Cr & above	3.25% p.a.
Source: Bank Website. (Effective: From January 01, 2022)