Interest shall be paid on SB Deposits at the rate of Interest as mentioned in the table given below. Interest is calculated on daily products and will be credited in the SB A/c on quarterly basis in the months of May, August, November and February, respectively every year or at the time of closing of the SB A/c subject to minimum ₹1/- . Quarterly interest payment is effective from May 2016 and is invariably credited on regular basis in SB account irrespective of the operational status of the account.
Any change/ revision in interest rate on Savings Bank Deposits shall be notified to the customers through Bank's website i.e. www.bankofindia.co.in