Savings Accounts Interest Rates: The interest rate on savings accounts usually ranges from 2.6 to 8 percent and it depends on the balance maintained in the account. Here is a list of some banks which are paying the highest interest.
Savings Accounts Interest Rates: Many public and private sector banks in India provide various types of savings account services which are designed according to different needs. The interest rate on savings accounts usually ranges from 2.60 percent to 8 percent per annum and it depends on the balance maintained in the account.
If you are also going to open a savings account, then before that, you must know which banks give how much interest on savings accounts. Before opening an account, definitely understand the interest rate and specific account features given on savings accounts. Here information is given about the interest rates given by many banks and their savings options.
Latest interest rates on savings accounts of top banks in the country
Many banks offer low interest rates. Here is a list of banks that offer the highest interest on savings up to Rs 1 lakh-
| List of banks | Interest rate |
| Jana Small Finance Bank Limited | 3.50% per annum |
| RBL Bank Limited | 4.25% per annum |
| yes bank | 3.00 per cent per annum |
| North East Small Finance Bank Limited | 4.00 per cent per annum |
| Utkarsh Small Finance Bank Limited | 4.00 per cent per annum |
| Suryodaya Small Finance Bank Limited | 3.00 per cent per annum |
| Fincare Small Finance Bank Limited | 3.51% per annum |
| Indusind Bank | 3.50% per annum |
| EAAF Small Finance Bank Limited | 3.50% per annum |
| IDFC First Bank Limited | 3.00 per cent per annum |
Interest rates on savings account deposits between Rs 1 lakh and Rs 5 lakh
Many banks offer competitive interest rates on deposits between Rs 1 lakh and Rs 5 lakh. Note that deposits up to Rs 5 lakh in any bank are insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC). In case of a bank default, the account holder is given protection up to this limit. Below are some banks that offer the highest interest on savings accounts within this limit i.e. Rs 5 lakh.
| Bank | interest rate |
| Bandhan Bank | 6.00 per cent per annum |
| Equitas Small Finance Bank | 5.00 per cent per annum |
| Ujjwal Small Finance Bank | 5.00 per cent per annum |
| DBS Bank | 7.00 per cent per annum (on balances above Rs 4 lakh to Rs 5 lakh) |
| Jana Small Finance Bank | 5.00% p.a. (on balance above Rs 1 lakh and up to Rs 5 lakh) |
| Utkarsh Small Finance Bank | 6.25% per annum |
| Suryodaya Small Finance Bank | 5.00 per cent per annum |
| Fincare Small Finance Bank | 7.11 per cent per annum (on balances above Rs 2 lakh and up to Rs 5 lakh) |
| yes bank | 4.00 per cent per annum |
| RBL Bank | 5.50% p.a. (on balance above Rs 1 lakh and up to Rs 10 lakh) |
(Note: Interest rates are updated on a regular basis by the bank and this list is updated as of September 11, 2024.)
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