RBI frees interest rate on savings account

Reserve Bank of India (RBI) on Tuesday regulated savings bank deposit interest rates, leaving the banks to offer whatever they want.

Today, savings bank fetched 4% per year.
RBI said each bank has to offer uniform interest rate for deposits to Rs 1 lakh, irrespective of the amount of the account limit. For a savings account deposits of RS 1 lakh, the bank may offer different interest rates, if he so wishes.

However, the client should not be any discrimination between similar amount of customer deposit interest rates, RBI ordered - so expect more to come based on the size of the deposit interest rate on boards.

Analysts said the banks' lower 'CASA' or the current account, savings account interest rates offer more of these deposits. By Tuesday evening, Yes Bank, which is only 3% of CASA deposits, announced it will offer 6% interest rate on savings deposits to attract retail customers.

Some large banks, a lot depends on what the State Bank of India has set the tone of the market. "If SBI does not increase the savings deposit rate, then I do not see the savings deposit rate increases across the industry," said Suresh Ganapathy head of financial research at Macquarie Securities.

SBI chairman Pratip Chaudhuri said: "At this point most of the banks is quite convenient in terms of liquidity. They are not as fond of the cost of raising rates."

Financial planners know the extent of growth is limited. "There are no major impact, because we can not keep changing savings account that easily. There are many costs associated with transition from a savings account from one bank to another," said Jayant Pai, vice president, Parag Parikh Financial Advisory Services.
Pai said the banks may offer higher interest rates, but there could be many hidden costs that one must watch out.

http://www.directoryutopia.com/detail.php?id=145591
http://www.free-backlink.com/detail/movers-orlando-fl-45557.html
http://www.mysiteseeker.com/detail/link-115984.html
http://www.seoseek.net/detail/link-150861.html
http://www.seotarget.net/detail/link-140162.html
http://www.sitepromotiondirectory.com/detail/Moving-Companies-Orlando-157705.htm
http://www.traffic2web.com/detail/link-73755.php
http://www.uniquetitles.com/detail/movers-Orlando-26644.htm
http://www.usalistingdirectory.com/detail/Orlando-movers-169772.htm
http://www.usawebsitesdirectory.com/detail/movers-Orlando-152467.php
http://directory.usatohifi.com/detail/link-112855.html
http://www.4all.blahoo.net/detail/link-110916.html
http://www.addsitefree.com/detail/link-400511.html
http://www.bestdirectory4you.com/detail/condo-life-magazine-147658.html
http://www.deeplinker.net/detail/link-185059.html
http://www.directoryutopia.com/detail.php?id=145590
http://www.free-backlink.com/detail/condo-living-magazine-45558.html
http://www.mysiteseeker.com/detail/link-115986.html
http://www.seoseek.net/detail/link-150863.html
http://www.seotarget.net/detail/link-140163.html
http://www.sitepromotiondirectory.com/detail/toronto-condo-magazine-157706.htm
http://www.traffic2web.com/detail/link-73754.php
http://www.uniquetitles.com/detail/online-condo-magazine-26645.htm
http://www.usalistingdirectory.com/detail/condo-magazine-169773.htm
http://www.usawebsitesdirectory.com/detail/condominium-magazine-152468.php
http://directory.usatohifi.com/detail/link-112856.html
http://www.4all.blahoo.net/detail/link-110917.html
http://www.addsitefree.com/detail/link-400513.html
http://www.bestdirectory4you.com/detail/jupiter-real-estate-147657.html
http://www.deeplinker.net/detail/link-185060.html
http://www.directoryutopia.com/detail.php?id=145592
http://www.free-backlink.com/detail/Jupiter-oceanfront-condos-45559.html
http://www.mysiteseeker.com/detail/link-115988.html
http://www.seoseek.net/detail/link-150864.html
http://www.seotarget.net/detail/link-140164.html
http://www.sitepromotiondirectory.com/detail/Juno-Beach-Condos-157708.htm
http://www.traffic2web.com/detail/link-73756.php
http://www.uniquetitles.com/detail/Jupiter-waterfront-homes-26646.htm
http://www.usalistingdirectory.com/detail/Abacoa-homes-169774.htm
http://www.usawebsitesdirectory.com/detail/Homes-in-Jupiter-152469.php
http://directory.usatohifi.com/detail/link-112857.html
http://www.4all.blahoo.net/detail/link-110918.html
http://www.addsitefree.com/detail/link-400514.html
http://www.bestdirectory4you.com/detail/car-insurance-louisville-147659.html
http://www.deeplinker.net/detail/link-185063.html
http://www.directoryutopia.com/detail.php?id=145593
http://www.free-backlink.com/detail/Car-Insurance-La-Grange-Ky-45560.html
http://www.mysiteseeker.com/detail/link-115989.html
http://www.seoseek.net/detail/link-150865.html
http://www.seotarget.net/detail/link-140165.html
http://www.sitepromotiondirectory.com/detail/Auto-Insurance-Jeffersontown-157709.htm
http://www.traffic2web.com/detail/link-73757.php
http://www.uniquetitles.com/detail/Car-Insurance-Middletown-Ky-26647.htm
http://www.usalistingdirectory.com/detail/Auto-Insurance-Crestwood-169775.htm
http://www.usawebsitesdirectory.com/detail/Auto-Insurance-Crestwood-Ky-152470.php
http://www.usalistingdirectory.com/detail/real-estate-attorney-169776.htm
http://directory.usatohifi.com/detail/link-112858.html
http://www.4all.blahoo.net/detail/link-110919.html
http://www.addsitefree.com/detail/link-400515.html
http://www.bestdirectory4you.com/detail/title-company-147661.html
http://www.deeplinker.net/detail/link-185061.html
http://www.directoryutopia.com/detail.php?id=145594
http://www.free-backlink.com/detail/real-estate-lawyer-new-haven-CT-45561.html
http://www.mysiteseeker.com/detail/link-115998.html
http://www.seoseek.net/detail/link-150866.html
http://www.seotarget.net/detail/link-140166.html
http://www.sitepromotiondirectory.com/detail/real-estate-attorney-greenwich-CT-157710.htm
http://www.traffic2web.com/detail/link-73758.php
http://www.uniquetitles.com/detail/title-company-Fairfield-CT-26648.htm
http://www.usawebsitesdirectory.com/detail/real-estate-attorney-Fairfield-CT-152471.php
http://directory.usatohifi.com/detail/link-112859.html
http://www.4all.blahoo.net/detail/link-110920.html
http://www.addsitefree.com/detail/link-400516.html
http://www.bestdirectory4you.com/detail/industrial-lighting-147662.html
http://www.deeplinker.net/detail/link-185062.html
http://www.directoryutopia.com/detail.php?id=145595
http://www.free-backlink.com/detail/Industrial-LED-Lighting-45562.html
http://www.mysiteseeker.com/detail/link-115990.html
http://www.seoseek.net/detail/link-150867.html
http://www.seotarget.net/detail/link-140167.html
http://www.sitepromotiondirectory.com/detail/Edison-bulb-replacement-157711.htm
http://www.traffic2web.com/detail/link-73759.php
http://www.uniquetitles.com/detail/interior-LED-lights-26649.htm
http://www.usalistingdirectory.com/detail/commercial-LED-Lighting-169778.htm
http://www.usawebsitesdirectory.com/detail/Edison-bulb-replacement-152472.php
http://directory.usatohifi.com/detail/link-112860.html
http://www.4all.blahoo.net/detail/link-110921.html
http://www.addsitefree.com/detail/link-400517.html
http://www.bestdirectory4you.com/detail/hotels-in-california-147663.html
http://www.deeplinker.net/detail/link-185064.html
http://www.directoryutopia.com/detail.php?id=145596
http://www.free-backlink.com/detail/Cheap-travel-packages-45563.html
http://www.mysiteseeker.com/detail/link-115991.html
http://www.seoseek.net/detail/link-150868.html
http://www.seotarget.net/detail/link-140168.html
http://www.sitepromotiondirectory.com/detail/California-hotels-157713.htm
http://www.traffic2web.com/detail/link-73760.php
http://www.uniquetitles.com/detail/Last-Minute-Travel-26650.htm
http://www.usalistingdirectory.com/detail/California-coast-169782.htm
http://www.usawebsitesdirectory.com/detail/California-coast-vacations-152473.php
http://directory.usatohifi.com/detail/link-112861.html
http://www.4all.blahoo.net/detail/link-110922.html
http://www.addsitefree.com/detail/link-400519.html
http://www.bestdirectory4you.com/detail/moving-companies-new-york-city-147671.html
http://www.deeplinker.net/detail/link-185065.html
http://www.directoryutopia.com/detail.php?id=145597
http://www.free-backlink.com/detail/moving-company-new-york-45564.html
http://www.mysiteseeker.com/detail/link-115992.html
http://www.seoseek.net/detail/link-150869.html
http://www.seotarget.net/detail/link-140169.html
http://www.sitepromotiondirectory.com/detail/new-york-movers-157714.htm
http://www.traffic2web.com/detail/link-73761.php
http://www.uniquetitles.com/detail/moving-companies-new-york-city-26651.htm
http://www.usalistingdirectory.com/detail/movers-nyc-169783.htm
http://www.usawebsitesdirectory.com/detail/nyc-movers-152474.php
http://www.4all.blahoo.net/detail/link-110924.html
http://www.4all.blahoo.net/detail/link-110924.html
http://www.addsitefree.com/detail/link-400521.html
http://www.bestdirectory4you.com/detail/toronto-plumbing-services-147665.html
http://www.deeplinker.net/detail/link-185066.html
http://www.directoryutopia.com/detail.php?id=145598
http://www.free-backlink.com/detail/plumber-oakville-45565.html
http://www.mysiteseeker.com/detail/link-115993.html
http://www.seoseek.net/detail/link-150871.html
http://www.seotarget.net/detail/link-140170.html
http://www.sitepromotiondirectory.com/detail/toronto-plumbing-157715.htm
http://www.traffic2web.com/detail/link-73762.php
http://www.uniquetitles.com/detail/plumbing-service-toronto-26652.htm
http://www.usalistingdirectory.com/detail/plumbers-toronto-169784.htm
http://www.usawebsitesdirectory.com/detail/plumber-toronto-152475.php
http://directory.usatohifi.com/detail/link-112863.html
http://www.4all.blahoo.net/detail/link-110924.html
http://www.addsitefree.com/detail/link-400522.html
http://www.bestdirectory4you.com/detail/ageloc-vitality-147666.html
http://www.deeplinker.net/detail/link-185067.html
http://www.directoryutopia.com/detail.php?id=145603
http://www.free-backlink.com/detail/Galvanic-Spa-45566.html
http://www.mysiteseeker.com/detail/link-115994.html
http://www.onemilliondirectory.com/detail/Galvanic-Spa-link-207162.html
http://www.seoseek.net/detail/link-150872.html
http://www.sitepromotiondirectory.com/detail/Ageloc-vitality-157716.htm
http://www.traffic2web.com/detail/link-73763.php
http://www.uniquetitles.com/detail/Galvanic-Spa-26653.htm
http://www.usalistingdirectory.com/detail/Ageloc-vitality-169785.htm
http://www.usawebsitesdirectory.com/detail/Galvanic-Spa-152476.php
http://www.usalistingdirectory.com/detail/Golf-Shirt-169786.htm
http://directory.usatohifi.com/detail/link-112864.html
http://www.4all.blahoo.net/detail/link-110925.html
http://www.addsitefree.com/detail/link-400523.html
http://www.bestdirectory4you.com/detail/womens-golf-shirts-147668.html
http://www.deeplinker.net/detail/link-185068.html
http://www.directoryutopia.com/detail.php?id=145604
http://www.free-backlink.com/detail/Thermal-underwear-45567.html
http://www.mysiteseeker.com/detail/link-115995.html
http://www.seoseek.net/detail/link-150873.html
http://www.seotarget.net/detail/link-140172.html
http://www.sitepromotiondirectory.com/detail/Hoodies-for-men-157717.htm
http://www.traffic2web.com/detail/link-73764.php
http://www.uniquetitles.com/detail/Womens-polo-shirts-26654.htm
http://www.usawebsitesdirectory.com/detail/golf-shirts-152477.php
http://directory.usatohifi.com/detail/link-113006.html
http://www.4all.blahoo.net/detail/link-111043.html
http://www.addsitefree.com/detail/link-400880.html
http://www.bestdirectory4you.com/detail/strata-management-sydney-147818.html
http://www.directoryutopia.com/detail.php?id=145776
http://www.free-backlink.com/detail/Strata-managers-NSW-45649.htm
http://www.mysiteseeker.com/detail/link-116163.html
http://www.onemilliondirectory.com/detail/Strata-Managers-link-207304.html
http://www.seoseek.net/detail/link-151048.html
http://www.seotarget.net/detail/link-140310.html
http://www.sitepromotiondirectory.com/detail/Strata-Managers-157953.htm
http://www.traffic2web.com/detail/link-73833.php
http://www.uniquetitles.com/detail/Strata-Management-Services-26712.htm
http://www.usalistingdirectory.com/detail/Strata-Management-Sydney-169922.htm
http://www.usawebsitesdirectory.com/detail/Strata-Management-Services-152592.php
http://directory.usatohifi.com/detail/link-113007.html
http://www.4all.blahoo.net/detail/link-111044.html
http://www.addsitefree.com/detail/link-400881.html
http://www.bestdirectory4you.com/detail/roussillon-villas-147820.html
http://www.directoryutopia.com/detail.php?id=145759
http://www.free-backlink.com/detail/rental-Luberon-45650.htm
http://www.mysiteseeker.com/detail/link-116164.html
http://www.onemilliondirectory.com/detail/south-of-france-villas-link-207306.html
http://www.seoseek.net/detail/link-151049.html
http://www.seotarget.net/detail/link-140311.html
http://www.sitepromotiondirectory.com/detail/Luberon-rentals-157954.htm
http://www.traffic2web.com/detail/link-73834.php
http://www.uniquetitles.com/detail/South-of-France-Gites-26713.htm
http://www.usalistingdirectory.com/detail/Gordes-villas-169923.htm
http://www.usawebsitesdirectory.com/detail/luberon-gites-152593.php
http://www.usalistingdirectory.com/detail/gates-169925.htm
http://directory.usatohifi.com/detail/link-113008.html
http://www.4all.blahoo.net/detail/link-111045.html
http://www.addsitefree.com/detail/link-400882.html
http://www.bestdirectory4you.com/detail/gates-147821.html
http://www.directoryutopia.com/detail.php?id=145760
http://www.free-backlink.com/detail/ute-tool-boxes-45651.htm
http://www.mysiteseeker.com/detail/link-116165.html
http://www.onemilliondirectory.com/detail/driveway-gates-link-207307.html
http://www.seoseek.net/detail/link-151050.html
http://www.seotarget.net/detail/link-140312.html
http://www.sitepromotiondirectory.com/detail/driveway-gates-157955.htm
http://www.traffic2web.com/detail/link-73835.php
http://www.uniquetitles.com/detail/ute-boxes-26714.htm
http://www.usawebsitesdirectory.com/detail/ute-boxes-152594.php
http://directory.usatohifi.com/detail/link-113009.html
http://www.4all.blahoo.net/detail/link-111061.html
http://www.addsitefree.com/detail/link-400883.html
http://www.bestdirectory4you.com/detail/dome-cameras-147822.html
http://www.deeplinker.net/detail/link-185218.html
http://www.directoryutopia.com/detail.php?id=145761
http://www.free-backlink.com/detail/16-Channel-DVR-45652.htm
http://www.mysiteseeker.com/detail/link-116166.html
http://www.seoseek.net/detail/link-151051.html
http://www.seotarget.net/detail/link-140313.html
http://www.sitepromotiondirectory.com/detail/Covert-Cameras-157956.htm
http://www.traffic2web.com/detail/link-73836.php
http://www.uniquetitles.com/detail/Bullet-Cameras-26715.htm
http://www.usalistingdirectory.com/detail/Dome-Cameras-169926.htm
http://www.usawebsitesdirectory.com/detail/Bullet-Cameras-152595.php
http://directory.usatohifi.com/detail/link-113010.html
http://www.4all.blahoo.net/detail/link-111046.html
http://www.addsitefree.com/detail/link-400884.html
http://www.bestdirectory4you.com/detail/tungsten-rings-147823.html
http://www.deeplinker.net/detail/link-185219.html
http://www.directoryutopia.com/detail.php?id=145762
http://www.free-backlink.com/detail/tungsten-ring-45653.htm
http://www.mysiteseeker.com/detail/link-116167.html
http://www.seotarget.net/detail/link-140314.html
http://www.sitepromotiondirectory.com/detail/ceramic-wedding-ring-157957.htm
http://www.sitereview.com.au/detail/ceramic-wedding-ring-80278.html
http://www.traffic2web.com/detail/link-73837.php
http://www.uniquetitles.com/detail/tungsten-wedding-band-26716.htm
http://www.usalistingdirectory.com/detail/ceramic-rings-169927.htm
http://www.usawebsitesdirectory.com/detail/ceramic-wedding-bands-152596.php
http://directory.usatohifi.com/detail/link-113011.html
http://www.4all.blahoo.net/detail/link-111047.html
http://www.addsitefree.com/detail/link-400885.html
http://www.bestdirectory4you.com/detail/state-farm-plano-147824.html
http://www.directoryutopia.com/detail.php?id=145763
http://www.free-backlink.com/detail/Plano-State-Farm-Insurance-45654.htm
http://www.mysiteseeker.com/detail/link-116168.html
http://www.onemilliondirectory.com/detail/Insurance-Plano-link-207308.html
http://www.seoseek.net/detail/link-151052.html
http://www.seotarget.net/detail/link-140315.html
http://www.sitepromotiondirectory.com/detail/home-insurance-Plano-157958.htm
http://www.sitereview.com.au/detail/car-insurance-Plano-80280.html
http://www.traffic2web.com/detail/link-73838.php
http://www.usalistingdirectory.com/detail/auto-insurance-Plano-169928.htm
http://www.usawebsitesdirectory.com/detail/car-insurance-Plano-152719.php

Articles Source:- http://www.dnaindia.com/money/report_rbi-frees-interest-rate-on-savings-account_1603523