Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What is the interest rate payable in NRE savings account?

Interest rate NRE Payable savings account

1 Answer

0

W.e.f. April 1, 2010, interest for all rupee savings accounts will be calculated on the daily closing balances maintained in the account. W.e.f. May 3, 2011, the interest will be calculated @ 4.0% per annum instead of 3.5% per annum. Interest so calculated is rounded off to the nearest rupee, ignoring fractions of a rupee. Interest is paid half-yearly in September and March.

0 CommentsAdd a Comment

Related Questions

What is your question?

*Sadly, we had to bring back ads too. Hopefully more targeted.