BankBazaar has compiled the data till February 16, 2022 to find out the affordable interest rates. Banks whose websites do not advertise the data are not considered. Minimum balance requirement is considered except in Regular Savings Account and Basic Savings Bank Deposit (BSBD) Account.
One should keep a part of their savings in savings accounts for liquidity and emergencies during uncertain times such as pandemic or crisis due to war between Russia and Ukraine. You will also earn interest income from deposits in savings accounts. According to data compiled by BankBazaar, amidst falling interest rates, small finance banks offer higher interest rates. Here we are listing the best interest rates on small finance bank and private bank savings accounts.
- AU Small Finance Bank is offering up to 7 percent interest rate on savings accounts. The average monthly balance requirement is Rs 2,000 to Rs 5,000.
- Ujjivan Small Finance Bank (Ujjivan Small Finance Bank) is offering up to 7 percent interest rates on savings accounts.
- Equitas Small Finance Bank (Equitas Small Finance Bank) is offering interest rates up to 7% on savings accounts. The average monthly balance requirement is Rs.2,500 to Rs.10,000.
- DCB Bank (DCB Bank) offers interest rates up to 6.75 percent on savings accounts. Among the private banks, this bank offers the best interest rates. The minimum balance requirement is Rs 2,500 to Rs 5,000.
- RBL Bank (RBL Bank) is offering interest rates up to 6.25 percent on savings accounts. The minimum balance requirement is Rs 2,500 to Rs 5,000.
BankBazaar has compiled the data till February 16, 2022. Banks whose websites do not advertise the data are not considered. Minimum balance requirement is considered except in Regular Savings Account and Basic Savings Bank Deposit (BSBD) Account.
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