If you are going to start your financial journey, then it is very important for you to have a savings account. Not only does your money remain safe in the savings account, but you also get low returns in it.
If you are going to start your financial journey, then it is very important for you to have a savings account. Not only does your money remain safe in the savings account, but you also get low returns in it. Savings account interest is generally calculated daily based on the balance on the day the account closes and is paid quarterly.
In case of any emergency, you can withdraw money from the savings account. For those who want to open interest bearing deposit account, here we are telling which banks are providing interest rate up to 7.50%.
Ujjivan
Small Finance Bank Ujjivan Small Finance Bank is the only bank to pay the highest interest rate of 7.50% on deposits above ₹25 crore.
DCB Bank
DCB Bank is offering an interest rate of 7.00% on balances between Rs 25 lakh to Rs 2 crore. These interest rates are effective from August 22, 2022.
Equitas Small Finance Bank
Equitas Small Finance Bank’s savings account interest rates became effective from November 9, 2022. The bank is paying an interest rate of 7.00% on savings bank deposits above Rs.5 lakh and up to Rs.5 crore.
AU Small Finance Bank
Interest rates applicable to AU Small Finance Bank savings bank deposits are effective from October 10, 2022. The bank is offering an interest rate of 7% on balances ranging from Rs 25 lakh to less than Rs 1 crore.
Fincare Small Finance Bank
Interest rates applicable on savings bank deposits of Fincare Small Finance Bank are effective from July 1, 2021. The bank is offering an interest rate of 7% on savings account balances below Rs 5 lakh and Rs 1 crore.
Utkarsh Small Finance Bank
Interest rates applicable on savings bank deposits of Utkarsh Small Finance Bank are effective from June 01, 2022. On balance above ₹25 lakh in savings account, the bank is offering an interest rate of 7.00% p.a.
Unity Small Finance Bank
Interest rates applicable from January 22, 2022 are applicable on savings bank accounts in Unity Small Finance Bank. The bank is offering 7% interest on savings account balances of Rs 1 lakh to Rs 10 crore and above.
