Banks Offering Competitive Interest Rates Ranging From 7% to 7.5% On Savings Accounts

Several banks are offering competitive interest rates ranging from 7% to 7.5% on savings accounts in an effort to entice more clients and offer them excellent returns on their money. Let's take a look at the banks offering these attractive interest rates on savings accounts.

The Ujjivan SFB

The Ujjivan SFB offers 3.50% on deposits into savings accounts up to Rs. 1 lakh and 6% on balances between Rs. 1 lakh and Rs. 5 lakh. Interest rates of 7% are offered on savings account balances between Rs 5 lakh and Rs 25 crore, and 7.50% are offered on balances beyond Rs 25 crore. On November 1, 2022, these prices go into effect.

Amount	Interest Rate (p.a.)
Up to 1 lakh	3.50%
> ₹1 lakh to ₹5 lakh	6.00%
> ₹5 lakh to ₹25 crore	7.00%
>= ₹25 crore	7.50%

Jana Small Finance Bank

Interest will be charged at the following rates: 3.50% for accounts under Rs. 1 lakh, 7.00% for balance increases above Rs. 1 lakh and up to Rs. 10 lakh, and 7.25% for balance increases over Rs. 10 lakh and up to Rs. 10 crore. 7.25% will be paid on accounts over Rs. 10 lakh and up to Rs. 10 crore. On additional balances above Rs. 50 crores, 6.50% would be paid. The prices go into effect on February 15, 2023.

Sr. No	savings Account Balance	Interest Rate Per Annum
1	Upto Rs. 1 lakh	3.50%
2	More than Rs. 1 lakh and Upto Rs. 10 Lakhs	7.00%
3	More than Rs. 10 Lakhs and Upto Rs. 10 Crores	7.25%
4	More than Rs. 10 Crores and Upto Rs. 50 Crores	7.50%
5	More than Rs. 50 Crores	6.50%

Unity Small Finance Bank

The Unity SFB, offers 6% on savings account balances under Rs. 1 lakh and 7% on balances beyond Rs.

Particulars	Rate of Interest
Saving account balance up to 1 lakh	6.00%
Saving account balance above 1 lakh	7.00%

Equitas Small Finance Banks

Equitas SFB offers 3.50% on accounts up to Rs. 1 lakh and 5.25% on balances between Rs. 1 lakh and Rs. 5 lakhs. The bank is paying 7% for amounts over Rs 5 lakh. These prices go into effect on December 14, 2022.

Daily Closing Balance	Rate Slabt
Up to ₹ 1 lakh	3.50%
Above ₹ 1 lakh to ₹ 5 lakhs	5.25%
Above ₹ 5 lakhs	7.00%