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Dena Bank, Central Bank Slash Savings Account Interest Rates
August 22, 2017
Dena Bank and Central Bank of India have cut the savings account interest rates by 50 bps for deposits up to Rs. 50 lakh. While the former has fixed the new interest rate at 3.5% for deposits up to Rs. 50 lakh, the latter has set theirs at 3.5% as well, although only for deposits up to Rs. 25 lakh.
Dena Bank customers who have more than Rs. 25 lakhs in their savings accounts will continue to earn 4% interest. Similarly, Central Bank customers with more than Rs. 50 lakhs in savings accounts will earn 4%.
