Every individual new to investment has a financial goal that some way or another is influenced by savings as an option. When we talk about savings we often consider banks that have savings account with the highest interest rates. Interest rates are often is a key feature that is the decision bases for choosing a bank. Savings Account often comes with many features that can make it much more than just a savings account. These feature like a debit card facility, online banking etc.
Related article: How to Open Saving or Current Bank Account?
Top 5 Banks That Offers Highest Interest Rates are-
RBL Bank Savings Account Interest Rate
RBL Bank formerly known as The Ratnakar Bank Limited is one of the oldest private sector banks in India. The headquarters of the RBL Bank is situated in Maharashtra. The RBL bank offers very attractive interest rates ranges from 5.50-6.50% per annum.
The following are the interest rate based on Average Maintenance Balance (AMB)
| Average Daily Balance (ADB) | Interest Rates |
|---|---|
| Rs. 10 Lakhs up to Rs. 5 Cr | 6.50 % p.a. |
| Rs. 1 Lakhs and up to Rs. 10 Lakhs | 6.00% p.a. |
| up to Rs. 1 Lakhs | 5.50 % p.a. |
Yes Bank Savings Account Interest Rate
Yes Bank is the fourth largest Private Bank in India. It is founded in 2004 and quickly gained its reputation as one of the best banks in private sectors. Yes Bank has an extensive banking network of over 1000 Branches and 1800 ATMs across the country.
The following are the interest rate based on Average Maintenance Balance (AMB)
| Average Daily Balance (ADB) | Interest Rates |
|---|---|
| above Rs.1 Cr and up to Rs 100 Cr | 6.25% p.a. |
| Rs.1 Lakhs and upto Rs.1 Cr | 6.00% p.a. |
| up to Rs.10 Lakhs | 5.00% p.a. |
Kotak Mahindra Bank Savings Account Interest Rate
Kotak Mahindra Bank is a second largest private bank in India by market capitalization. Kotak Mahindra Bank has a network of 1,369 branches across 689 locations and 2,163 ATMs in the country. It offers a variety of services to cooperate as well as retail customers.
The following are the interest rate based on Average Maintenance Balance (AMB)
| Average Daily Balance (ADB) | Interest Rates |
|---|---|
| Rs.1 Lakhs -up to Rs.1 Cr | 6.00% p.a. |
| above Rs.1 Cr and up to Rs 5 Cr | 5.50% p.a. |
| up to Rs.1 Lakhs | 5.00% p.a. |
IndusInd Bank Savings Account Interest Rate
Induslnd Bank is a new generation bank that offers a variety of services in the private banking sector. Founded in 1994, it is best known for its banking services. As of 2016, IndusInd Bank has 1,004 branches, and 1885 ATMs spread across 625 geographical locations of the country also the bank has doubled the branches count to 1200 by March 2017.
The following are the interest rate based on Average Maintenance Balance (AMB)
| Average Daily Balance (ADB) | Interest Rates |
|---|---|
| above Rs.10 Cr | 6.00% p.a. |
| above Rs.1 Cr and up to Rs 10 Cr | 5.50% p.a. |
| above Rs.10 Lakhs and up to Rs.1 Cr | 5.00% p.a. |
| up to Rs.10 Lakhs | 4.00% p.a. |
Lakshmi Vilas Bank
Lakshmi Vilas Bank is founded in 1926 Lakshmi Vilas Bank grown rapidly. As of 2018, Lakshmi Vilas Bank has 523 branches, 984 ATM centers, and 7 extension counters.
The following are the interest rate based on Average Maintenance Balance (AMB)
| Average Daily Balance (ADB) | Interest Rates |
|---|---|
| Above 5 Lakh | 6.00% p.a. |
| Below 5 Lakh | 5.00% p.a. |
