Looking at the different investment tools available such as FD, Stock, Mutual Funds that offer good returns, however, the first investment tool for any individual is still a Saving Bank Account. Traditional investment strategies are still useful in a period of stock and mutual fund investments. Despite this, Saving Account is still one of the most popular investment alternatives among the general public and it's also true today, the interest rate on saving accounts offered by the banks is at its lowest due to various economic factors. Which, makes the higher interest rate a crucial factor in selecting the saving account. Although the returns on saving accounts are not as great as those on FDs, they are a good liquid investment, whereas FDs are not.
These banks offer a high rate of interest up to 6.5% on saving accounts on regular Domestics deposit.
|Bank||Interest Rate (p.a)||Upto||w.e.f|
|DCB Bank||6.50%||2 Cr||01/10/21|
|Bandhan Bank||6.00%||2 Cr||01/11/21|
|RBL Bank||6.00%||3 Cr||01/12/21|
|Yes Bank||5.00%||1 Cr||15/12/21|
|IDFC First Bank||5.00%||2 Cr||01/05/21|
*Please keep in mind that interest rates fluctuate on a regular basis.
To know more about the Interest rate on saving account, visist the respective bank website.