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What is the interest rate payable in NRO savings account?

April 26, 2017Interest rate nro Payable savings account

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What is the interest rate payable in NRO savings account?

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10 Posted

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.