Savings Account: RBI is continuously cutting policy interest rates. But, in the meantime there are some banks which are paying more than 7 percent interest on savings accounts.
In today’s time, almost every person has an account in the bank. In such a situation, you should definitely consider that what percentage of interest is being paid on the amount you have deposited in your Savings Account. Even in this era of low-interest rate, there are some banks which are giving more than 7 percent interest on the savings account. In such a situation, you can earn good interest on the amount deposited in the savings account. Let’s know about these banks that are giving good returns on savings.
These banks giving interest as much as FD on the savings account.
Usually, interest is available only on a nominal rate on the money lying in the savings account. There are some banks, which are offering interest rates like FD on a savings account. These include, from traditional banks like Bandhan Bank, IDFC First Bank, RBL Bank to some small finance banks.
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See the list of banks
IDFC First Bank – IDFC Bank is paying 6 to 7 percent interest on savings accounts to its customers. In this bank, it is mandatory to maintain the customers on an average of 10 thousand rupees every month.
RBL Bank- RBL Bank is giving interest at the rate of 4.75 6.50 per cent. The minimum balance in this bank ranges from Rs 500 to Rs 2,500.
Bandhan Bank – Among the list of banks that pay the highest interest on a savings account is Bandhan Bank, which is paying interest at the rate of 4. 7.15 percent. In this, the average minimum balance limit is up to Rs 5,000.
IndusInd Bank- has been followed by IndusInd Bank interest rate of 4 to 6 percent.
In this list, AU Small Finance Bank and Ujjivan Small Finance Bank are paying interest of 4.7 percent and 4 to 6.5 percent respectively. After this, there is Yes Bank which is giving interest at the rate of 4 to 6 percent. The limit for this bank’s average minimum balance is Rs 10,000.
