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The Reserve Bank of India (RBI) has announced a comprehensive revision of interest rates for savings accounts, effective from February 1, 2026.

Key Changes

  • Base interest rate increased from 3.5% to 4.0% for regular savings accounts
  • Senior citizens will now get 4.5% interest on savings deposits
  • Special rates for NRI accounts maintained at 4.2%
  • Minimum balance requirements revised for different account types

Impact on Customers

Bank customers can expect higher returns on their savings, with senior citizens benefiting the most from the revised structure. The changes are expected to encourage more savings and provide better financial security for depositors.

Bank Response

Major banks including SBI, HDFC, and ICICI have confirmed that they will implement the new rates immediately. Some banks have indicated additional benefits for long-term depositors.

The RBI governor stated that these changes are part of broader efforts to strengthen the banking sector and promote financial inclusion.