Which bank giving highest interest rate on saving account? When we examine the fiscal year 2021-22, it was discovered by website data that the smaller financial institutions have the highest rate of interest.
But it would be best if you did not trust every bank as some new banks cheat with the lure of high-interest rates. If you search for the bank giving highest interest rate on saving account, you should choose only from a prominent and reliable bank.
Everyone has the right to earn more interest on their savings. Therefore, when analyzing the financial year 2021-22, I’ll let you know which banks offer the highest rate of interest on savings accounts.
Talking about savings accounts, all banks provide low-interest rates on it. This is because you can withdraw and deposit your money from the bank as many times as you want, but it is not possible in any other account that you can withdraw your money again and again.
Which bank giving highest interest rate on saving account?
After looking at the interest rates offered by various institutions, we have a few of the banks offering better rates of interest on savings accounts than others.
Bandhan Bank offers interest in the range of around 3 to 6%. The rate you will get will depend on your account type.
RBL Bank is a private sector bank established in 1943 as a regional bank but nowadays, it has emerged as a well-known bank all over India. RBL Bank provides interest rates between 4 to 6 percent.
If we talk about private banks in prominent banks, Axis Bank offers 3% to 3.5% interest rates.
Another thing is If you keep less than 50 lakh rupees in your savings account, you get 3%, and if you own a 50 lakh or more balance in your account, you get a 3.5% interest rate.
HDFC bank also provides an interest rate that is the same that Axis Bank offers. This means that interest of 3% is provided for under 50 lakhs balance in the savings account, and it is 3.5 per cent for 50 lakhs and more.
Similarly, ICICI Bank also provides the same interest rate.