What is Credit Interest in SBI??
I can help you understand what is credit interest in SBI.
So you know that you get some interest when you deposit a certain amount in the bank? The amount you deposit earns interest as per predecided rates.
Now suppose you had opened a fixed deposit account with the State Bank of India. Your deposit will earn interest (monthly, quarterly, semi-annually or annually). This interest when credited to your account is labelled as credit interest in the statement.
Similarly, interest is also credited for interest earned on an amount lying in your savings account.
Note that interest rates for FD in SBI lie between 3.05% and 7.05%, while interest on savings accounts is 2.50% p.a.