SBI Savings Plus Account Review: Interest Rates, Minimum Balance In simple terms, A Savings Plus Account is a Basic Savings Account that is linked to MODS (Multiple Option Deposit Scheme).The highest interest rate offered by SBI is 6.85% for deposit amount below rs 1 crore corresponding to a deposit tenure of years. SBI proffers a higher rate of interest on fixed deposit on longer tenure and lowers interest rate deposit of less than a year.For balance of more than Rs 1 Lakh the saving account interest would be Repo Rate – 2.75%. SBI Saving Account Interest Rate: After the change form May 1, 2019: SBI offers 3.5% interest on its saving account if the balance is less than Rs 1 Lakh. Also Read: 21 Hidden Charges in Saving Bank Account. Below are the interest rate, minimum balance requirement and features of all banks offering savings account in India. All Banks Savings Account Interest Rates March 2021.
