Ever since fixed deposit rates have come down, people have started keeping their money in savings account as they are getting more interest in savings account as compared to FD rate.
If your money is deposited in the savings account, then you also get interest on it. There are many benefits of having a savings account like earning interest, safety of money, extra earning due to auto sweep facility among fixed deposits, etc. Government banks offer savings account facility along with private banks. Small private banks are paying higher interest on savings accounts than HDFC Bank and ICICI Bank. Let’s know about them…
Yes Bank: Yes Bank is offering an interest rate of up to 5.25 percent on savings accounts. Monthly average balance is Rs 10,000 to Rs 25,000.
RBL Bank : RBL Bank is offering up to 6 percent interest rate on savings accounts. In this, the average monthly balance will have to be kept from Rs 2,500 to Rs 5,000.
DCB Bank : DCB Bank is offering an interest rate of up to 6.75 percent on savings accounts. This bank is giving the highest interest rate among private banks. In this, the monthly balance is to be kept from Rs 2,500 to Rs 5,000. For more information, you can visit the website of this bank.
IndusInd Bank : IndusInd Bank is offering up to 5 percent interest rate on savings accounts. Average monthly balance is Rs 1,500 to Rs 10,000.
Bandhan Bank: Bandhan Bank is offering an interest rate of up to 6 percent on savings accounts. The monthly average balance required is Rs 5,000.
For more information related to the savings account of all these banks, you can check by visiting their website. From there you will get complete details.
