I have some money saved in a bank account but the interest on it is less than 1% a year. Should I still pay zakat on it?

It is obligatory to pay one quarter of a tenth (i.e. 2.5%) of the original sum deposited in a bank if it meets the following conditions:
- It has reached nisab [minimum sum upon which zakat is due]. Nisab equals 85 grams of 21 carat gold according to current market price.
- One lunar year transpires while it is in the owner’s possession.
- It is void of debt and other rights.
- It exceeds the owner’s basic needs.
According to the opinion of some scholars, it is permissible to pay one tenth of the interest as zakat on the original sum, regardless of its total value or the passage of one lunar. There is no objection to following this opinion when there is a necessity.
And God the Almighty knows best.