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At a Glance

Enjoy exclusive privileges as a digibank Savings Account Holder, including attractive Savings Account interest rates on your deposits. Remember that higher deposits attract higher interest rates.

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digibank Savings Account

For an unparallel banking experience, the digibank Savings Accounts is just the account you need. Equipped with over 40 bespoke facilities, it also provides exclusive and personalised services tailored to fulfil every banking need. Earn high Savings Account interest rates on your digibank account deposits and let your idle savings grow.

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digibank Savings Account Interest Rates

Account Interest Rates per annum

digiSavings

digibank e-wallet

Balance up to Rs. 1 lakh will get 3.25% interest rates

No interest rates applicable

Any balances over and above Rs. 1 lakh and up to Rs. 2 lakhs will get 3.5% on the incremental amount*

Any balances over and above Rs. 2 lakhs and up to Rs. 5 lakhs will get 4% on the incremental amount*

Any balances over and above Rs. 5 lakhs and up to Rs. 5 Cr will get 3% on the incremental amount*

Any balances over and above Rs. 5 Cr will get 3.75% on the incremental amount thereon

*The interest rates mentioned above are w.e.f 12th February 2021.

*Interest rate up to 11th February 2021 is:
Domestic / NRO / NRE: 3.50% p.a. on balance up to INR 1 lakh; 4% p.a., on balances above INR 1 lakh and up to INR 5 lakhs; and 3.75% on balance above INR 5 Lakhs.

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digibank Savings Interest Rates Calculation

At digibank, we calculate the interest rates on Savings Accounts on a daily basis. Interest is calculated on the daily available closing balances in your account. Savings interest rates are computed at the rate specified by the regulator, the Reserve Bank of India or as a result of the bank’s own decision. Digibank calculates and rounds off the interest income to the nearest rupee. The bank credits the interest income directly into your digibank Savings Account at quarterly rests or on any other rests on the last day of each quarter (March, June, September, and December) or at its discretion from time to time. The rate of interest on digiSavings Accounts is subject to change at the discretion of the bank and/or in accordance with directives from the RBI.

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Frequently Asked Questions

The interest earned on Savings Account deposits is taxable in India per your income tax slab rate. You must declare it under the sub-header ‘income from other sources’ while filing your returns.


Yes, you may claim a deduction on the interest earned on your Savings Account. Under Section 80TTA of the Income Tax Act of India, 1961, you may claim a deduction if your annual interest income from all deposits, does not exceed INR 10,000.


As a Resident Indian above 60 years of age, you can avail of deductions of up to INR 50,000 p.a., on interest earned from various types of deposits, including interest on bank Savings Accounts and bank and post office fixed deposits. You can avail of this deduction over and above the INR 1.5 lakhs deduction permitted under Section 80C of the IT Act.

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