Now many private banks are offering good interest rates on savings accounts also. According to reports, this is because the demand for loans has increased due to the holiday season. Due to which there is shortage of money in the market. Private banks are offering interest of more than 7 percent for keeping money in their savings accounts.
Fixed Deposit (FD) has always been considered one of the best and safe investment options. However, one drawback of FD is that you cannot withdraw your money whenever you want. The benefit of this type of facility is available on savings accounts. But the interest rate available on savings account is much lower than FD.
Many private banks are offering good interest on savings accounts
However, now many private banks are offering good interest rates on savings accounts also. According to reports, this is because the demand for loans has increased due to the holiday season. Due to which there is shortage of money in the market. Private banks are offering interest of more than 7 percent for keeping money in their savings accounts. Generally, interest rate benefit of 2 to 2.5 percent is given on savings accounts. But for this some conditions will also have to be fulfilled. In such a situation, let us take a look at the list of those banks.
These banks are giving good interest rates on savings accounts
Ujjivan Small Finance Bank is offering interest rates up to 7.50 percent on its Maxima Savings Accounts. But account holders will have to deposit at least Rs 1 lakh. DCB Bank is also giving interest up to 7.75 percent on savings accounts to its customers. But for this, customers will have to maintain a balance between Rs 1 lakh to Rs 1 crore. Jana Small Bank is also giving interest between 3.50 percent to 7.50 percent to its customers on different savings accounts.
The names of these banks are also included in the list
Unity Small Finance Bank is offering interest rates of 7 percent per annum on deposits above Rs 1 lakh and 6 percent on deposits up to Rs 1 lakh. Equitas Small Finance Bank is offering 3.50 percent interest on account balance up to Rs 1 lakh, 5.25 percent interest on balance between Rs 1 lakh to Rs 5 lakh and 7 percent interest on balance above Rs 5 lakh.
