Following the BOM revision for a decrease in REPO rate two years back, ABC Banking didn’t reduce its savings rate and hence gave its clients a comparative advantage of 0.30% – 0.40% compared to other banks. On the same line, should you be willing to take advantage of a higher savings rate, you may choose our Premier Savings Account to benefit from an interest rate of 0.60% to 1.20% depending on your deposit amount. You may also be interested to know that we calculate our interest rates on a daily basis and same is credited on a monthly basis.

REPO rate refers to the interest charged by the BOM on the cash borrowed by commercial banks in the event of any shortfall of funds.

PLR stands for the Prime Lending Rate and is an interest rate determined by individual banks. It is also used as the reference rate for various types of loans.

BSR refers to the Base Savings Rate and is the base rate that the bank will charge on a savings account.

REPO rate refers to the interest charged by the BOM on the cash borrowed by commercial banks and an increase in REPO Rate is applicable to all banks.

However, following the BOM revision for a decrease in REPO rate two years back, ABC Banking didn’t reduce its savings rate and hence gave its clients a comparative advantage of 0.30% – 0.40% compared to other banks. On the same line, should you be willing to take advantage of a higher savings rate, you may choose our Premier Savings Account to benefit from an interest rate of 0.60% to 1.20% depending on your deposit amount. You may also be interested to know that we calculate our interest rates on a daily basis and same is credited on a monthly basis.

REPO rate refers to the interest charged by the BOM on the cash borrowed by commercial banks. However, each bank decides whether to increase or decrease its PLR and BSR accordingly.

A bonus margin is a floating rate defined by the bank and can be altered at anytime.