Highest rate on savings account: If you are not considering fixed deposit investment due to their premature withdrawal rules as you may need the money anytime, you can consider keeping your money in a savings account.
Highest rate on savings account: Savings account interest rates differ depending on the balances in the account. Some banks pay interest on an incremental basis on their savings account. Here are banks offering savings account interest rates between 7%-8% depending on the account balance.
DCB Bank savings account interest rate
DCB Bank offers interest up to 8 percent on savings accounts on balances from 10 crore to less than 2 crores. The bank offers 7.25% interest on savings account balance from 50 lakh to less than 2 Crore in the account and 7% on balances from 5 crore to less than 10 crores in the account.
| Balance Range (INR) | Rate of Interest p.a. W.E.F May 08, 2023 |
| On balances up to 1 lakh in the account | 2.00% |
| On balances above 1 lakh to less than 2 lakh in the account | 3.75% |
| On balances from 2 lakh to less than 5 lakh in the account | 5.25% |
| On balances from 5 lakh to less than 10 lakh in the account | 6.25% |
| On balances from 10 lakh to less than 50 lakh in the account | 7.00% |
| On balances from 50 lakh to less than 2 Crore in the account | 7.25% |
| On balances from 2 cr to less than 5 crore in the account | 5.50% |
| On balances from 5 crore to less than 10 Crore in the account | 7.00% |
| On balances from 10 crore to less than 50 Crore in the account | 8.00% |
| On balances from 50 crore to less than 200 Crore in the account | 8.00% |
| On balances from 200 crore and above | 5.00% |
IDFC FIRST Bank savings account interest rate
IDFC FIRST Bank offers interest rate up to 7% on balances more than Rs 10lac to less than Rs 5 crore. The new rates are effective from July 1, 2023.
Suryoday Small Finance Bank savings account interest rate
Suryoday Small Finance Bank offers the highest interest rate of 7.00% on savings account balances over of Rs 5 Lakh to Rs 2 crore and 6.75% on balances above Rs 1 lakh up to & including Rs 5 Lakh.
| Savings Account Rate (Effective: From March 01, 2023) | |
| Daily Closing Balance Slabs (Domestic/NRE/NRO) | % rate per annum* |
| Up to and including Rs. 1 Lakh | 3.75% |
| Above Rs. 1 Lakh up to & including Rs. 5 Lakh | 6.75% |
| Above Rs. 5 Lakh up to & including Rs. 50 Lakh | 7.00% |
| Above Rs. 50 Lakh up to & including Rs. 2 Crore | 7.00% |
| Above Rs. 2 Crore up to & including Rs. 5 Crore | 6.50% |
| Above Rs. 5 crore | 5.00% |
ESAF Small Finance Bank
EASAF Small Finance Bank offers interest up to 7.5 percent on savings accounts on balances from 10 crore to less than 2 crores. The bank offers 7.25% interest on savings account balance from 50 lakh to less than 2 Crore in the account and 7% on balances from 5 crore to less than 10 crores in the account.
| Savings Bank Account- Slab | Rate of Interest effective from 01st July 2023 |
| Up to and including Rs.5 lakh | 4.00% |
| Above Rs.5 lakh up to and including Rs.15 lakhs (i.e. for incremental amount above Rs.5 lakh) | 5.50% |
| Above Rs.15 lakh up to and including Rs.50 lakhs (i.e. for | 7.00% |
| incremental amount above Rs.15 lakh) | |
| Above Rs.50 lakhs (i.e. for incremental amount above Rs.50 | 7.50% |
| lakhs) |
Other Small Finance Banks
AU Small Finance Bank offers interest up to 7 percent on savings accounts, Equitas Small Finance Bank offers 7% interest in saving account for balances above Rs 5 lakh and up to Rs 50 crores.
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