Top 3 Private Sector Banks Offering More Than 6% Interest On Savings Accounts

A safe and wise investment should not only provide higher returns and meet financial objectives but also have adequate liquidity to deal with unexpected catastrophes. In general, this sort of investment is best conducive for risk-averse individuals who wish to begin their personal financial experience with a safe interest-bearing instrument. For them, starting contributions in a savings account as soon as possible is a solid choice because this instrument not only delivers steady interest rates but also has a high level of liquidity and is optimal for short-term financial objectives, regardless of whether you are salaried or not.

Savings accounts are furthermore insured up to a maximum of Rs 5,00,000 by DICGC or both principal and interest amounts kept by an account holder, thanks to the built-in benefits of the aforementioned. As a consequence, your deposits are safe for as long as you wish to earn interest, and a savings account also enables you to make sufficient deposits, withdrawals, apply for net banking or mobile banking, apply for an investment product, apply for a debit card or credit card, and more. Individuals looking for decent savings accounts with a higher interest rate should check into the private sector banks that are currently offering savings bank accounts with interest rates of more than 6%.

Bandhan Bank

The bank has modified the interest rates on Domestic and Non-Resident Rupee Savings Deposits as of November 1, 2021. Bandhan Bank is now giving a maximum interest rate of 6.00 percent on Daily Balances in Domestic and Non-Resident Rupee Savings Bank Accounts ranging from Rs 10 lakh to Rs 2 crore.

Balance slab	Interest rate p.a.
Daily Balance up to Rs 1 lakh	3.00%
Daily Balance above Rs 1 lakh to Rs 10 lakh	5.00%
Daily Balance above Rs 10 lakh to Rs 2 crore	6.00%
Daily Balance above Rs 2 crore to Rs 10 crore	5.00%
Source: Bank Website

DCB Bank

DCB Bank has changed the interest rates on resident, NRE, and NRO savings bank accounts as of February 7, 2022. Following the change, the bank is now giving a maximum interest rate of 6.75 percent on balances in the account ranging from 50 lakh to less than 2 crore.

Balance Range (INR)	Rate of Interest p.a. W.E.F February 7, 2022
On balances up to 1 lakh in the account	2.50%
On balances above 1 lakh to less than 2 lakh in the account	4.50%
On balances from 2 lakh to less than 10 lakh in the account	5.00%
On balances from 10 lakh to less than 25 lakh in the account	6.25%
On balances from 25 lakh to less than 50 lakh in the account	6.50%
On balances from 50 lakh to less than 2 crore in the account	6.75%
On balances from 2 crore to less than 50 crore in the account	5.50%
On balances from 50 crore and above	5.00%
Source: Bank Website

RBL Bank

With effect from February 3, 2022, RBL Bank has changed the interest rates on savings deposits. The bank is now giving a maximum interest rate of 6.25 percent on Savings Deposits (including NRE/NRO Savings) as a result of the modification.

Daily balance	Rate of Interest (p.a.) w.e.f. February 03, 2022
Upto Rs. 1 lakh	4.25%
Above Rs. 1 lakh upto Rs. 10 lakh	5.50%
Above Rs. 10 lakh and upto Rs. 3 Crore	6.25%
Above Rs. 3 Crore upto Rs. 5 Crore	6.25%
Source: Bank Website