A list of six banks offering high interest rates on savings accounts with attractive returns.
Saving account interest rates: For the average person, a savings account is often the go-to choice for stashing away their hard-earned money. Despite the relatively low returns compared to other investment options, savings accounts remain popular due to the convenience and various benefits they offer to customers.
However, what if we told you that there are banks out there providing attractive interest rates on savings accounts? Today, we will take a look at six such banks that are currently offering up to 7% interest on these accounts.
Airtel Payments Bank: A fully digital and paperless bank, Airtel Payments Bank is making waves by offering a remarkable 7% interest rate on savings accounts with balances ranging from Rs 1 lakh to Rs 2 lakh. For balances up to Rs 1 lakh, the interest rate stands at a respectable 2%.
ESAF Small Finance Bank: If you're seeking competitive returns, ESAF Small Finance Bank might be worth considering. With interest rates of 4% on balances up to Rs 5 lakh and an enticing 6.5% on balances exceeding Rs 15 lakh, they provide a compelling option for depositors.
Equitas Small Finance Bank: Equitas Small Finance Bank extends its generosity to savers with a tiered interest rate structure. They offer 3.5% interest on balances up to Rs 1 lakh, 5.25% on balances between Rs 1 lakh and Rs 5 lakh, and an impressive 7% interest rate for balances surpassing Rs 5 lakh.
Fincare Small Finance Bank: Fincare Small Finance Bank entices customers with attractive interest rates as well. They offer 6.11% interest on balances ranging from Rs 1 lakh to Rs 5 lakh, and an even more enticing 7.11% interest rate on balances exceeding Rs 5 lakh.
Suryoday Small Finance Bank: Suryoday Small Finance Bank rewards its savers with competitive interest rates too. They provide a 6.75% interest rate on balances between Rs 1 lakh and Rs 5 lakh, and an appealing 7% interest rate on balances exceeding Rs 5 lakh.
AU Small Finance Bank: Lastly, AU Small Finance Bank offers a noteworthy 7% interest rate on balances exceeding Rs 25 lakh but less than Rs 1 crore, catering to those with higher deposit amounts.
These banks stand out from the crowd by offering enhanced interest rates on savings accounts, allowing customers to potentially earn more on their deposited funds. It's important to consider these options carefully and choose the bank that aligns best with your financial goals and requirements.
Read more: Mukhyamantri Udyami Yojana: Get Rs 10 lakh under this scheme to start your business, check details
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