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New Delhi: Over the years, opening savings accounts have always proved to be the ideal choice of investment for people who have stable and regular income sources. Both private and public sector banks across India facilitate their customers with the option of opening different forms of savings accounts, developed to fulfil the requirements of a large clientele. Banks across the country offer different interest rates for savings accounts, which usually range from 2.50 % per annum to nearly 7.00 % per annum.
As per the data compiled by BankBazaar, small finance banks and small private banks top the charts in offering higher interest rates, compared to leading private and public sector banks to acquire new retail customers. With the new financial year set to start on Friday, here is a look at banks offering the best interest rates on savings accounts.
Equitas Small Finance Bank is offering interest rates up to 7 per cent on savings accounts for balance above Rs 5 Lakhs to Rs 2 Crores. The average monthly balance requirement is Rs 2,500 to Rs 10,000.
AU Small Finance Bank offers up to 7 per cent interest rates on savings accounts. The average monthly balance requirement is Rs 2,000 to Rs 5,000.
Ujjivan Small Finance Bank offers up to 7 per cent interest rates on savings accounts.
DCB Bank is offering interest rates of up to 6.5 per cent on savings accounts. The minimum balance requirement is Rs 2,500 to Rs 5,000.
RBL Bank is offering up to 6.25 per cent interest rates on savings accounts. The average monthly balance requirement is also Rs 2,500 to Rs 5,000.
Suryoday Small Finance Bank is offering interest rates up to 6.25 per cent on savings accounts at an average monthly balance requirement is Rs 2,000.
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