Savings accounts are the most popular banking tool in the country due to security, utility and liquidity. You can meet all your financial needs through a savings account. These include planning for retirement, spending targets and depositing money. A savings account is a good option for your personal finance based on fixed returns, without risk and wealth creation. But at present, low interest rates are available on savings bank accounts in big banks. However some banks are still offering such an interest rate on savings account, which you will not get even on FD.
More interest than FD
Savings accounts have generally lower interest rates than fixed deposits. But some private and small finance banks are paying higher interest rate on savings accounts as compared to major big private banks. When opening a savings account in any bank, it is important to keep in mind how much interest he is paying. If you want to open a savings account, here we will give information about some banks, which are offering the best interest rates.
How much interest will be received
Presently, some private banks and small finance banks are offering higher interest rates on savings accounts. Bandhan Bank, RBL Bank and IndusInd Bank are currently offering interest rates of up to 7.15%, 6.5% and 6% respectively, the highest among private banks. On the other hand there are some small finance banks, including Utkarsh Small Finance Bank, Equitas Small Finance Bank and Ujjivan Small Finance Bank. These four banks are offering interest rates up to 7.25 per cent.
How much interest will be received
Presently, some private banks and small finance banks are offering higher interest rates on savings accounts. Bandhan Bank, RBL Bank and IndusInd Bank are currently offering interest rates of up to 7.15%, 6.5% and 6% respectively, the highest among private banks. On the other hand there are some small finance banks, including Utkarsh Small Finance Bank, Equitas Small Finance Bank and Ujjivan Small Finance Bank. These four banks are offering interest rates up to 7.25 per cent.
Low interest rate in big banks
Talking about big private banks, HDFC Bank and ICICI Bank are giving interest from 3% to 3.5%. Axis Bank and Kotak Mahindra Bank are now offering interest rates of up to 4 per cent. At the same time, State Bank of India (SBI) is offering only 2.70 percent interest and Bank of Baroda is offering 3.20 percent interest. Now know in detail which bank is paying how much interest on the savings account.
Know the interest rates of some other banks
3.25 to 5.5 percent in DCB Bank, 3.5 to 4 percent in City Union Bank, 3.5 to 4 percent in Kotak Mahindra Bank, 3 to 4 percent in DBS Bank, 3 to 4 percent in Union Bank of India, 3 to 4 in Dhanalakshmi Bank Percentage, 3 to 3.5 percent in Punjab National Bank, 3 to 3.5 percent in Axis Bank, 3 to 3.5 percent in HDFC Bank, 3 to 3.5 percent in ICICI Bank, 3.1 in Punjab and Sindh Bank and 3.05 in Indian Overseas Bank .
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