Day: September 2, 2019

Savings Account Interest Rates of Major Banks (Sep 2019)

Interest Rates of Savings Account of Major Banks September 2019

Updated Interest Rates of Savings Account

In this article you will find the Interest Rates of Savings Account provided by major banks in India. These interest rates are as on last updated by the banks respective websites.

Digi bank by DBS (DBS Bank) offers the highest interest rate on savings account. The interest rates are as follows :-

 DBS Bank Savings Account Interest Rates Sept 2019
Source: www.dbs.com
DBS Bank Savings Account Interest Rates Sept 2019
Source: www.dbs.com

(Balances up to 1 lakh will get 5.5% interest rates. Any balances over and above 1 lakh & up to 2 lakhs will get 7% on the incremental amount, 2 lakhs & up to 5 lakhs will get 5% on the incremental amount & 4% on the remaining balances.)

The list of banks below offer the following interest rate :-

 Savings Account Interest Rates of Major Banks Sept 2019
Source: Bank Website
Savings Account Interest Rates of Major Banks Sept 2019
Source: Bank Website
Savings Account Interest Rates of Major Banks Sept 2019
Source: Bank Website
Savings Account Interest Rates of Major Banks Sept 2019
Source: Bank Website
eBook by Invest Yadnya
eBook by Invest Yadnya

Some banks offer the following interest rates on their savings account :-

 Savings Account Interest Rates of Major Banks Sept 2019
Source: Bank Website
Savings Account Interest Rates of Major Banks Sept 2019
Source: Bank Website

Summary:-

  • We can see that most of the major banks in India offer almost same interest rates. The most basic interest rates offered by the maximum bank ranges around 4%.
  • DBS Bank is the one that provides the highest interest rates on the balance in your savings account. But, DBS has very limited reach. They are only based in metropolitan cities and some other few cities. It is only beneficial to choose DBS Bank if you have a branch near you. Otherwise, opting for another bank would be better as getting services and other advantages from DBS Bank will be an issue.
  • After DBS Bank, RBL Bank (formerly  known as The Ratnakar Bank limited) offer higher interest rates on your balance in savings account.
  • Kotak Mahindra Bank as well as Bandhan Bank also provide high and competitive interest rates on their savings account. In comparison with top banks in India, Kotak Mahindra Bank has the widest reach across India. Their branches and ATM’s are spread all over India. It has quite high reachability.

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