Most banks in India provide several types of savings accounts that are designed to meet the demands of a diversified customer base. Banks offer a plethora of advantages that can assist a person in beginning to save and progressively building their investment portfolio. Public sector as well as private sector banks including Small Finance Banks offer a different range of interest rates for savings accounts. The interest rates usually range from 2.70% per annum to 8% per annum. Many big banks continue to provide low interest rates on savings accounts, while some banks offer interest rates of up to 7% on savings accounts.
3 banks special FDs with higher interest rates ending on December 31
Here is a look at banks that offer up to 8% interest rate on savings accounts.
DCB Bank savings account interest rates
DCB Bank offers up to 8% interest on savings accounts with balances ranging from Rs 10 lakh to less than Rs 2 crore. The bank pays 7.75% interest on savings account balances ranging from Rs 10 crore to less than Rs 200 crore. The rates are effective from September 27, 2023.
IDFC FIRST Bank savings account interest rate
IDFC FIRST Bank offers interest rate up to 7% on balances more than Rs 5 lakh to less than Rs 25 crore. The new rates are effective from October 1, 2023.
Suryoday Small Finance Bank savings account interest rate
Suryoday Small Finance Bank pays the highest interest rate of 7.50% on savings account balances above Rs. 10 Lakh up to & including Rs 5 crore. The rates are effective from November 13, 2023.
ESAF Small Finance Bank savings account interest rate
ESAF Small Finance Bank pays the highest interest rate of 7.50% on savings account balances Above Rs.5 lakhs (i.e. for incremental amount above Rs.5 lakhs). The rate of interest effective from November 20, 2023.
AU Small Finance Bank savings account interest rate
AU Small Finance Bank pays the highest interest rate of 7.25% on savings account balances from Rs 1 Crore to less than Rs 5 crores. The rate of interest effective from September 11, 2023.
Fincare Small Finance Bank
AU Small Finance Bank pays the highest interest rate of 7.50% on savings account balances above Rs 25 lakhs to Rs 10 crores. The rate of interest effective from December 1, 2023.
