Savings Account Interest Rates- Aug 2020

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Savings Account is the most secure way of saving your hard earned money and earning an interest on the same. Although the rate of return is not as high as the return on stocks, mutual funds etc but still it is much more secure. The fact that this account is liquid and customer can withdraw money whenever he/she needs, makes this investment option attractive. Of course there is a limit up to which withdrawals can be made in  month. But still this makes the consumption and expenditure in a good balance.

There are no limits in respect of cheques deposited and cheques issued/ payments made. You can also avail many value added services offered by banks along with Savings acoount like accidental insurance, foreing travel insurance, net banking, debit card etc. Overall, having a Savings Account is must for us as it helps in better planning and provides convenience.

Let’s find out the interest rates offered by various banks in India on Savings account.

Bank Name Interest Rate
DBS Bank Digi Account 3.50% – 5.00%
SBI Basic Savings Bank Account 2.70%
HDFC Bank Regular Savings Account 3.00% – 3.50%
ICICI Bank Regular Savings Account 3.00% – 3.50%
Axis Bank Basic Savings Account 3.50% – 4.00%
Citibank Citi Banking Savings Account 3.25%
Kotak Bank Nova Savings Account 3.50% – 4.00%
Yes Bank Savings Value Account 4.00% – 6.00%
India Post Office Post Office Savings Account 4.00%
Bank of Baroda BOB Savings Account 2.75% – 3.00%
Standard Chartered Bank Basic Banking Account 0.50% – 3.50%
PNB Saving Deposit (General) Account 3.00% – 3.25%
South Indian Bank Regular Savings 2.35% – 4.60%
IDBI Bank Super Savings Account 3.10% – 3.60%
Andhra Bank Abhaya SB Account 3.00%
Indian Bank Savings Bank Account 3.50% – 3.75%
Canara Bank Savings Bank Account 3.25% – 3.75%
UCO Bank Saral Savings Deposit Scheme 2.50% – 2.75%
Fincare Small Finance Bank Smart Saver Account 3.50% – 7.00%
Ujjivan Small Finance Bank Ujjivan Bank Regular Savings Account 4.00% – 6.50%
ESAF Small Finance Bank Regular Saving Account 4.00% – 7.00%
AU Small Finance Bank Samarth Saving scheme 4.00% – 7.00%
Equitas Small Finance Bank Regular Saving Account 3.50% – 7.50%
Jana Small Finance Bank Regular Saving Account 4.50% – 7.50%

Source: MyLoanCare

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