Whenever a person plans to invest money in a certain bank, he/she always looks for attractive returns. It is also one of the popular investment options as you can withdraw money in times of emergencies. Parking money in other financial instruments leads to blockage as it can’t be withdrawn at any time.
And therefore it becomes really important that we choose banks carefully before investing our hard-earned money. Several private banks offer very good interest rates on savings accounts as compared to public sector banks. These banks offer interest rates up to 6.25 per cent.
The maximum interest rate on savings accounts is being offered by RBL Bank which offers a good interest rate of 4.50% per annum to 6.25% on daily balance as per set amount limit by the bank. These interest rates came into effect from May 7, 2021.
Meanwhile, Bandhan Bank provides 3.0 per cent per annum to 6.0 per cent per annum interest rates on its savings account, up to Rs 10 crore. The rates have come into effect from June 7, 2021.
IndusInd Bank savings account interest rate comes in the range of 4 per cent to 5.50 per cent up to Rs 1 crore daily balance. For deposits above Rs 1 crore, one can contact the bank branch or Relationship Manager.
Now Yes Bank provides interest rates on its savings account in the range of 4.0 to 5.5 per cent per annum up to Rs 100 crore. YES Bank had announced changes in its Savings deposit Interest Rates slabs for Resident & Non-resident customers, with effect from December 8, 2020.