Banks That Provide The Highest Saving Account Interest Rate

Indian people prefer safety over anything when it is regarding their hard-earned money. And when it comes to the security and safety of the money, then nothing can beat the facility of a savings account in a bank as it is the oldest and safest mode of saving money. By having a savings account in the bank, an individual doesn’t have to think much about the money over there and most importantly, you can get a hefty amount of liquidity and returns at the same time. It’s highly unlikely that one doesn't have a savings account in today’s time. It is both a necessity and a privilege which makes this service of savings account this amazing.

When it comes to the facility of Saving account, almost all the leading Indian banks provide the service of Savings Bank account, whether they are public sector or private sector banks. But one should always look for one thing before having a savings account in any of the banks. Now you must be wondering what is this thing that we all must keep a look at? Well, that thing is the interest rate on the savings account because it is the one thing that keeps changing from one bank to another bank. The rate of interest will directly affect the amount in your savings bank account as higher the rate of interest, higher will be the returns. So in this article, we will look at some of the banks that provide the highest saving account interest rate.

Digibabk by DBS Savings Account: DBS bank is one of the top private banks operating in India that comes in the list of all the banks that provide the highest saving account interest rate. The rate of interest differs according to the amount you are depositing in the bank. For amount up to Rs 1 lakh, the rate of interest is fixed at 6% per annum. On balance between Rs 1 lakh to Rs 2 lakh, the rate of interest is 7% per annum. For 2 lakhs to Rs 5 lakhs, you will get 5% per annum interest rate whereas 4% per annum on the amount anything above Rs 5 lakhs.

Kotak Mahindra Bank Savings Account: When there are any talks about the highest saving account interest rate, it is impossible to exclude Kotak Mahindra Bank. It gives 5% per annum interest on the amount below Rs 1 lakh. Between the balance of Rs 1 lakh to Rs 1 crore, the rate of interest given by Kotak Mahindra Bank is 6% per annum. Balance anything between Rs 1 crore to Rs 5 crore will earn you an interest of 5.5% per annum.

IndusInd Bank Savings Account: IndusInd Bank provides 4% per annum interest rate where the daily balance is less than or equal to 1 lakh and 5% per annum on the balance between Rs 1 lakh to Rs 10 lakhs. And on the condition of balance exceeding above Rs 10 lakhs, the rate of interest is fixed at 6% per annum.

YES Bank Savings account: YES Bank offers 5% per annum interest rate on the balance up to Rs 1 lakh in the savings account and 6% per annum interest rate on the balance of Rs 1 lakh to Rs 1 crore. This is one of those top banks which provide the highest saving account interest rate.