Looking for the best savings accounts in India with high interest rates? Here’s a roundup of banks offering interest rates up to 5% per annum. For the success of your savings money, you need to select the correct bank sector. because most of the banks give only the lowest interest rate. In this article, we have shown you the best and high interest rate for savings accounts.
Why you need to open a savings account
A savings account is a basic but the most important to every citizen There are several benefits to having a Savings account, one of which is that the Savings account lets you earn interest on your funds. and a lot of benefits there you have a savings account.
Savings Account interest rate is the interest that you earn on your funds based on your daily closing balance. The interest is credited to your account on either a monthly or quarterly basis, as per the bank regulation. Here the question is – Which bank is given the highest interest rate?
First of all, you need to know about the top largest bank in India
- HDFC Bank Ltd.
- State Bank of India
- ICICI Bank Ltd.
- Kotak Mahindra Bank Ltd.
- Axis Bank Ltd.
- IndusInd Bank Ltd.
- Yes Bank Ltd.
- Punjab National Bank
- Bank Of Baroda
- Bank of India
These banks are the largest bank on this list, but not all banks offer higher savings account interest rates.
IndusInd Bank Savings Account Interest Rate
IndusInd bank offers an interest rate of 4% p.a. on savings accounts maintaining a daily balance of up to Rs.10 lakh- 5% p.a. This is applicable for savings accounts which maintain a daily balance exceeding Rs.10 lakh.
Kotak Mahindra Bank Savings Account Interest Rate
Kotak Mahindra offers Savings Accounts interest rate of 3.50% p.a. is applicable for all Savings Account holders.
Axis Bank Savings Account Interest Rate
Axis Bank offers an interest rate 3.00% p.a. to 3.50% p.a. on all its Savings Accounts.
HDFC Bank Savings Account Interest Rate
HDFC similar to axis bank interest rate 3% to 3.5% p.a.
State Bank of India (SBI) Savings Account Interest Rate
SBI offers a very low savings bank interest rate, it’s given only 2.70 % p.a.
In this article, you can see which bank is given the highest interest rate in 2022. By using this information, you can save money, and this can help you earn interest rate money. If you have any questions or concerns about this article, please contact us anytime at Contact@wizardlook.com Thank you for reading.
