New Delhi | Jagran Business Desk: Ever since the banks have reduced the rate of interest offered on Fixed Deposits (FD), people have started keeping their money in savings account as they get a higher rate of interest from them in comparison to FD. There are many benefits to having a savings account. These include liquidity, earning high interest, online transaction facility, help in getting loans, etc. Also, some small private banks pay higher interest rates on savings account than big ones like HDFC Bank and ICICI Bank. Here is a look at 5 of them.
List of banks with high interest on savings account:
1. Yes Bank
Yes Bank is offering an interest rate of up to 5.25 percent on savings accounts. The monthly average balance is Rs 10,000 to Rs 25,000.
2. RBL Bank
For its Digital Savings Account, RBL Bank requires customers to maintain a balance between Rs 3 crore and Rs 5 crore to avail the highest rate of 6.5 per cent, according to its website. Balances up to Rs 1 lakh get an interest rate of 4.75 per cent, and those who maintain between Rs 1 lakh and Rs 10 lakh get 6 per cent.
3. DCB Bank
DCB Bank is offering an interest rate of up to 6.75 percent on savings accounts. This bank is giving the highest interest rate among private banks. In this, the monthly balance is to be kept from Rs 2,500 to Rs 5,000. For more information, you can visit the website of this bank.
4. IndusInd Bank
IndusInd Bank is offering up to a 5 percent interest rate on savings accounts. The average monthly balance is Rs 1,500 to Rs 10,000.
5. Bandhan Bank
Bandhan Bank offers the highest interest rate of 7.15 per cent, to those who maintain a daily balance of over Rs 50 crore, according to its website. Customers who maintain a daily balance of below Rs 1 lakh get a 3 per cent interest rate, and those who have a balance between Rs 1 lakh and Rs 10 crore, get 6 per cent.
Posted By: Sugandha Jha