Monthly credit & up to 7% savings a/c interest rate in this bank

From May 1, 2025, savings account holders of RBL Bank will get to enjoy monthly credit of savings account interest. The Interest will be calculated on end of the day balance and accrued daily. This accrued interest will be paid / credited to a savings account on a monthly basis. According to an RBL Bank email dated April 26, 2025, the highest interest rate, which depends upon the balance kept, in its savings account is 7% with effect from May 1, 2025.

Read below to know more about how the monthly interest payout feature works for RBL Bank savings account holders:

What did RBL Bank say?
RBL Bank sent an email two days ago to its customers informing them of this change in savings account interest calculation.

According to an RBL Bank customer email dated April 26, 2025, “Effective May 1, 2025, enjoy monthly payout of your savings interest. The Interest will be calculated and accrued daily, based on the end of day balance in your account and will be paid / credited to your account on a monthly basis. Interest in the Savings Account up to Rs 1 Lakh is calculated at 3.25% p.a. and for remaining balance will be calculated on progressive interest rate slabs.”

How will the savings account interest be calculated from May 1, 2025 for RBL Bank customers?
RBL Bank said in the email that the rate of interest on your savings bank account balances is being revised and for balances above Rs 1 lakh it will be, as per the following table:


MIBOR is overnight MIBOR rate

How will interest be calculated?
According to RBL Bank website Interest in the Savings Account up to Rs 1 Lakh is calculated at 3.25% p.a. and for remaining balance will be calculated on progressive interest rate slabs.

Example 1:
Calculation for amount of Rs 30 lakh


Some important point to note about monthly interest calculation for RBL Bank
According to RBL Bank website, here are the details:

• Starting May 1, 2025, interest in Savings Bank Accounts will be paid monthly instead of quarterly. The interest will be calculated daily and now be credited to customer’s accounts on the last day of each month.
• The Bank calculates Savings Interest based on the actual number of days in a year. If your savings span both a leap year and a non-leap year, the interest is calculated accordingly: 366 days for a leap year and 365 days for a non-leap year.
• Starting May 1, 2025, the Savings Account interest rate will be calculated using a progressive slab method and paid to customers based on the applicable interest rate.