5 Best Savings Accounts In India With Interest Rates Up To 7.25%
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5 Best Savings Accounts of Private Sector Banks
DCB Bank offers the highest interest rate of 6.75 per cent among private sector banks. Then there’s RBL Bank, which is giving up to 6.25 per cent, and Bandhan Bank, which is offering 6%. Here are the top five private sector banks that are presently offering higher savings account interest rates.
| Banks | Interest Rates In % | W.e.f. |
|---|---|---|
| DCB Bank | 3.00 to 6.75 | 10th June, 2021 |
| RBL Bank | 4.25 to 6.25 | July 2, 2021 |
| Bandhan Bank | 3.00 to 6.00 | June 7, 2021 |
| IndusInd Bank | 4.00 to 5.50 | June 4, 2021 |
| Yes Bank | 4.00 to 5.25 | 13th May, 2021 |
| Source: Bank Websites |
5 Best Savings Accounts of Public Sector Banks
Punjab National Bank promises the highest interest rates of up to 3.50 per cent, followed by IDBI Bank and Canara Bank with interest rates of up to 3.40 per cent and 3.20 per cent, respectively, among the top public sector banks. Here we’ve compiled a list of the top 5 public sector banks providing the highest savings account rates right now.
| Banks | Interest Rates In % | W.e.f. |
|---|---|---|
| Punjab National Bank | 3.00 to 3.50 | March 1.2021 |
| IDBI Bank | 3.00 to 3.40 | May 1, 2021 |
| Canara Bank | 2.90 to 3.20 | 28.09.2020 |
| Bank of Baroda | 2.75 to 3.20 | 26.05.2021 |
| Punjab & Sind Bank | 3.10% | 12.11.2020 |
| Source: Bank Websites |
5 Best Savings Accounts of Small Finance Banks
Small finance banks are now offering higher interest rates than commercial banks and private sector banks. Utkarsh Small Finance Bank offers the highest interest rate on savings accounts, at 7.25 per cent, followed by Ujjivan Small Finance Bank, AU Small Finance Bank, and Equitas Small Finance Bank, all of which have interest rates of 7.00 per cent. We’ve prepared a table of the top 5 small finance banks currently offering the best savings account interest rates.
| Banks | Interest Rates In % | W.e.f. |
|---|---|---|
| Utkarsh Small Finance Bank | 5.00 to 7.25 | 01.08.2020 |
| Ujjivan Small Finance Bank | 4.00 to 7.00 | 06.03.2021 |
| AU Small Finance Bank | 3.50 to 7.00 | 17.05.2021 |
| Equitas Small Finance Bank | 3.50 to 7.00 | 01.06.2021 |
| Jana Small Finance Bank | 3.00 to 6.75 | 06.05.2021 |
| Source: Bank Websites |
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