10 Best Savings Account With Good Returns Up To 7.15%

Key takeaways of a savings account

• A savings bank account is a safe location where surplus funds or salary amount can be kept.
• Interest rates on savings accounts can vary from 3 to 7.15%
• Using a savings account an account holder can make use of net banking or mobile banking service of the particular bank.
• Banks typically provide benefits for customers who hold the minimum quarterly balance on the locker rental facilities.
• Banks also have different insurance coverage, including personal accidents and death, for savings account holders.
• By opening a savings account with a particular bank you are granted with an ATM-cum debit card which you can use across the country to make withdrawals and other related banking services.

Documents required to open a savings account

In order to open a savings account with a specific bank, you must keep the below-listed documents handy.

Identity proof: PAN, Voter ID, passport, Aadhaar card, driving license, PAN, 2 passport size photographs

Address proof: Driving license, Voter ID Card, Aadhaar card, utility bills of the last 3 months

Eligibility required to open a savings account

For different banks, the Savings Account eligibility conditions may be different. Below are some basic ones:

• Indian residents with a minimum age limit of 18 years old
• Non-Resident Indians
• Hindu Undivided Family (HUF)
• Resident foreign nationals

Savings account interest rates

Below are the best savings accounts in India in terms of interest rates.