PNB, HDFC Bank to revise interest rates on savings accounts

PNB, HDFC Bank to revise interest rates on savings accounts

A bird flies past a window of a HDFC Bank branch office in Mumbai, India, October 21, 2015.

The bank has also slashed interest rate on savings accounts to 6.25% from existing 6.5% for deposits over Rs 1 crore.

YES BANK, India's fifth largest private sector Bank, has announced changes in its Savings deposit Interest Rates slabs for Resident & Non-resident customers, with effect from September 1, 2017.

SBI said the decline in inflation and high real interest rates justified a cut in the deposit rate. The bank had reduced the return on deposits up to Rs 1 crore to 3.5% from 4% earlier. The bank continues to pay four per cent interest on deposits of above Rs 50 lakh.

Banks could make huge savings because of the cut in the SB rate. The bank said that it was necessary to cut the return on savings account in order to keep its cost of lending low.

ISIS takes responsibility for Barcelona terror attack
Their exhibition game for tonight has been cancelled and the team will return to Clemson as previously scheduled tomorrow morning. It adds: 'Attacks could be indiscriminate...you should be vigilant and follow the instructions of the local authorities'.

Karnataka Bank: The bank now offers three percent on saving accounts with deposits up to Rs 1 lakh. These banks include Bank of Baroda, Axis Bank, Indian Bank, Karnataka Bank, and Yes Bank.

Following on the footsteps of other banks that recently reduced interest rates on savings account, HDFC Bank has also announced cuts in interest rates on savings account.

The private sector bank said that the rate remains unchanged at 6 per cent for SB deposits in the above ₹1 lakh and less than ₹1 crore slab, . On deposits in the ₹1 crore and above slab, the rate has been pared to 6.25 per cent from 6.50 per cent. On the other hand, private lender Kotak Mahindra is unperturbed with trends in the marketplace, retaining savings bank account rate at 5-6 per cent.

Half-a-dozen banks have followed the footsteps of the State Bank of India (SBI) and brought down their interest rates on the savings bank deposits.

Related News:

  • Blake Bortles Throws Terrible Pass To Allen Robinson

    Blake Bortles Throws Terrible Pass To Allen Robinson

    The offensive line couldn't create any space, and Bortles missed Robinson twice on deep passes, including one he underthrew badly. The Buccaneers were five-of-nine on third downs before halftime, racking up 240 yards to Jacksonville's 59.
    Van plows into crowd in Barcelona in 'terrorist attack', police say

    Van plows into crowd in Barcelona in 'terrorist attack', police say

    They said they were working on the hypothesis that the terrorists shot dead in Cambrils are linked to what happened in Barcelona . Spanish Prime Minister Mariano Rajoy said the van attack in Barcelona was "jihadist terrorism" which required a global response.
    Who's next, George Washington?

    Who's next, George Washington?

    Trump (@realDonaldTrump) August 17, 2017 .can't change history, but you can learn from it. It just so happens that these questions do in fact have answers.
  • United Dominion Realty Trust Inc

    The corporation has a valuation of $6.06 B, a price to earnings ratio of 148.04 along with a stock beta of 0.32. It is down 0.00% since August 16, 2016 and is. 1St Global reported 24,718 shares or 0.06% of all its holdings.
    PM Modi has created 'environment of hatred' in Kashmir: Rahul Gandhi

    PM Modi has created 'environment of hatred' in Kashmir: Rahul Gandhi

    The Prime Minister further asserted to create an atmosphere where the youngsters want to be teachers and educate others.
    Sergio Ramos flicks ball away from Lionel Messi during Spanish Super Cup

    Sergio Ramos flicks ball away from Lionel Messi during Spanish Super Cup

    The incident compounded a sorry night for Ernesto Valverde's side, who were beaten by goals from Marco Asensio and Karim Benzema. The second leg saw the Ronaldo-less Madrid completely dominate their fiercest rivals.
  • Sinha interacts with Kashmiri students amid pro-Azadi slogans

    Sinha interacts with Kashmiri students amid pro-Azadi slogans

    Eyewitnesses said that Sinha had a freewheeling discussion with a section of students and civil society members, which included some government officials.
    Trump attorney shares email that claims Robert E. Lee 'saved America'

    Trump attorney shares email that claims Robert E. Lee 'saved America'

    The e-mail also gave a nod President Trump's comments that you can't be against General Lee and for General Washington. The email forwarded by John Dowd, who is leading the president's legal team, painted the Confederate general Robert E.
    Navy Punishes Leadership of USS Fitzgerald Following Deadly Collision

    Navy Punishes Leadership of USS Fitzgerald Following Deadly Collision

    An acting commanding officer had been assigned to the Fitzgerald following the collision, and a permanent replacement, Cdr. The Navy also released a report detailing the harrowing moments immediately following the ship's collision .
  • Japan to seek assurance of U.S. defence pledge, including nuclear deterrence

    He added the US and Japan will strengthen their bilateral alliance by enhancing cooperation with South Korea. The drills involving tens of thousands of US and South Korean troops are due to begin on Monday.
    Possible terror attack foiled south of Barcelona

    Possible terror attack foiled south of Barcelona

    In December 2016, 12 people died after a driver used a hijacked truck to drive into a Christmas market in Berlin. The Islamic State (Isis) claimed responsibility for the attack, The Associated Press (AP) reported.
    Raiders' Sean Smith charged with assault after allegedly beating sister's boyfriend

    Raiders' Sean Smith charged with assault after allegedly beating sister's boyfriend

    NFL .com reached out to the Raiders for a comment on the matter but the team has yet to give a response. If convicted as charged, the defendant faces a possible maximum sentence of seven years in state prison.


Most liked

Berkeley hot dog worker resigns after being spotted at Virginia rally
A user with the handle @ YesYoureRacist zoomed in on White, revealing that he worked for Top Dog. White was in Charlottesville for the "Unite the Right" rally, which turned deadly on Saturday.

Why Does North Korea Hate Us?
North Korea is a highly secretive nation and predictions of what it will do next are often little more than conjecture. Subsequently, Korean politics was seen played more as power politics between the then two superpowers.

Trump Infrastructure Push Rolls Back Environment Rules
Mother Jones reports that before this executive order, federal agencies typically relied on historical data to predict if infrastructure was vulnerable to flooding.

Real Madrid outclass Barcelona to win Spanish Super Cup
Two cup finals against both those teams and neither one really seemed to have much chance of getting back in the game and winning. Karim Benzema scored near the end of the first half from a crisp pass from Marcelo to set himself up for a half-volley.

Thomas: Jealousy of Spieth fueled PGA triumph
He finished two shots clear of Francesco Molinari , Patrick Reed and Louis Oosthuizen, who were all tied for second. Seventeen years on, Thomas has now joined golf's elite.

Wallabies set for All Blacks' assualt
There is no place in the team, however, for flanker Jerome Kaino, who was yellow carded in his last two matches. I wouldn't be smart enough to get that sort of stuff organised. " That showed a lack of respect", Cheika said.

Trump Asks, 'What About the Alt-Left?' Here's an Answer
Despite their repugnant views, white nationalists did have a lawful permit to hold their rally; the alt-left activists didn't. He said that it was unfair to suggest that all the torch-wielding marchers at the rally were Nazis or white supremacists.

United States seeks 'effective' ties with China's military
Joe Dunford meets Chinese President Xi Jinping in the Great Hall of the People at the conclusion of his visit to Beijing. In Seoul, South Korean President Moon Jae-in vowed yesterday "there will be no war" on the peninsula.

Nokia 8 launched, boast of dual-sight mode
The Nokia 3, 5 and 6 have now all become available to interested buyers - but they were all decidedly lower-to-midrange designs . Under the hood , it gets a Qualcomm Snapdragon 835 processor coupled with 6GB or 8GB RAM options.

Top US general says China needs to increase pressure on N.Korea
This is Gen Dunford's first visit to China in his position as chairman of the Joint Chiefs of Staff. He said no US military action on the Korean Peninsula could be taken without Seoul's consent.

That annoying robocall about a 'free cruise' could get you $900
Moreover, Deutsche Financial Bank Ag has 0.01% invested in Norwegian Cruise Line Holdings Ltd (NASDAQ:NCLH) for 176,729 shares. TRADEMARK VIOLATION NOTICE: " Norwegian Cruise Line Holdings' (NCLH) Neutral Rating Reaffirmed at Goldman Sachs Group, Inc".

Rihanna launches 'Iconic' sock line
You can also get two of her iconic music video looks, the first from " Work " and the other from " Pour It Up ". RiRi has partnered with Stance to release a collection of socks that represents her iconic style in fashion.

Ayushmann Khurrana Unveils his Version of Nazm Nazm
The supporting cast is awesome, with Pankaj Tripathi and Seema Pahwa perfectly cast as Bitti's parents. At the behest of Chirag, Pritam dons the act of an arrogant semi-goon whom she is destined to hate.

Watch Video! Now, Balakrishna slaps fan trying to garland him
The video from Wednesday night has now gone viral with the actor being slammed for his unruly behaviour. The actor turned politician was caught offering money to the Voters ahead of Nandyal bypolls.

Barcelona 'terrorist attack': What we know
In December 2016, 12 people died after a driver used a hijacked trick to drive into a Christmas market in Berlin. In the years since the 2004 Madrid bombings, Spanish authorities have reported arresting almost 200 jihadis.