highest savings account interest rates

One question always strikes in our mind whenever we think of keeping our money in a bank. Which bank offers the highest savings account interest rates? Opening saving accounts is the safest investing option for the beginners. All the investors have steady income in the form of their salary or any other mode for that matters. Saving account is best for them to start their first step towards saving and gradually developing their investment portfolio. Different banks offer different interest rates on their saving account. Well, some banks even offer different saving account interest rates to the customer depending upon their client base.

List of Banks and their Savings Account Interest Rates

Banks Saving Accounts Interest Rates
SBI Bank 4.0%
Kotak Mahindra Bank 6.0%
Yes Bank 6.0%
HDFC Bank 4.0%
Axis Bank 4.0%
ICICI Bank 4.0%
PNB Bank 4.0%

Different banks offers different rates of interests. Now, further in the article I would be discussing various banks and the interest rates they offers.

1. Savings Account Interest Rates in State Bank of India (SBI) Bank

sbi bank saving accounts interest rates

SBI Bank is government owned entity and is the oldest bank in India with highest number of branches. State Bank of India offers wide range of financial products which also includes saving account. Interest rates offered by bank on the saving account is calculated on daily basis @ 4% p.a.

You can open your SBI saving account either via online mode or offline mode as both the options are available.In addition to this, you can also activate mobile banking or net banking through which you can easily transfer funds from one account to another. If needed you can even add a nominee on your saving accounts of the bank.

SBI offers different types of saving accounts which are available for different type of clients. Some of those types of saving accounts are Basic Savings Account, Saving Accounts for Minors, Savings Plus Account, Small Account, Yuva Savings Bank Account.

2. Savings Account Interest Rates in Kotak Mahindra Bank

kotak mahindra bank saving accounts interest rates

Kotak Mahindra Bank is among those bank which offers high interest rate to its clients. If you are among people who prefer safe saving option that is banks rather than investing in share market. then keeping your money in saving account of Kotak Mahindra is the best option. Kotak Mahindra Bank offers 6% interest rate.

Also Read>>> 10 Mistakes to Avoid When Investing In Share Market in India

You can open your saving account in Kotak Bank via offline or online mode. All you need to do is just fulfill the criteria of the bank for opening an account. With saving account you can avail a number of facilities like mobile banking, net banking, ATM facility, cheque book etc.

 Kotak Mahindra offers several types of savings account like Platina Saving Account, Jifi Account, Sanman Saving Accounts, Grand Saving Programme for the 55+, Ace Saving Account, Edge Saving Account etc. You can also personalize the account according to your need.

3. Savings Account Interest Rates in Yes Bank

yes bank saving accounts interest rates

Yes Bank was formed in 2004 and within 10 years of its formation it became 5th largest private sector bank. It is also recognized as the fastest growing bank in India as it offers wide range of products and services like business banking, corporate banking and personal banking. Yes Bank offers wide range of saving accounts in order to fulfill the needs of different types of their client base.

In saving account you get free NEFT/RTGF facility via net banking. The interest rates offered by bank on saving accounts of Yes Bank are near about 6% p.a. You can also get life insurance, card lost liability and purchase protection insurance. In addition to this, the bank also provide doorstep banking facility to the customers.

There are broadly three types of saving accounts in Yes Bank which are Personnel Account, Salary Account, Custom Account. These are further divided into certain sub divisions. So before opening your saving account in Yes Bank you must check all the saving accounts carefully and then open your account.

4. Savings Account Interest Rates in HDFC Bank

HDFC Bank saving accounts interest rates

HDFC Bank offers wide range of products and services for its customers which are highly unique and provide privileges to its customers. The products and services are very easy to avail and are very convenient to use. Plus the bank also provides world class banking products, facilities and services to its customers.

Customers of the bank can select the best suitable account that fits their requirement. Well there is a personnel relationship manager who will assist you in every step wherever you face some trouble. The saving account interest rates offered by bank is 4% p.a.  for different kind of saving accounts.

In addition to this, there are several types of saving accounts in HDFC Bank. Types of saving accounts are SavingMax Accounts, Regular Saving Accounts, Women’s Saving Account, Kid’s Advantage Accounts, Senior Citizens Accounts etc.

5. Savings Account Interest Rates in AXIS Bank

AXIS Bank savings account interest rates

AXIS bank is bank that encourages people to save and invest substantial portion of their income. Well, they also provide benefits on saving assured amount of sum on the bank. In addition to this, the saving account can be opened by any individual irrespective of their salary package and age. The bank has designed various types of salary accounts keeping in mind the needs of the varied client base.

AXIS Bank offers wide variety of products along with variety of personalized services and lots of attractive benefits and deals for their clients. The interest rates offered by bank on the saving accounts is 4% p.a. You can apply for opening your saving account on AXIS Bank either via offline mode or by online mode.

Furthermore, there are several types of saving accounts offered by the bank depending upon customers needs. Some of them are EaseAccess Saving Accounts, Prime Savings Accounts, Future Stars Saving Accounts, Youth Account, Prime Plus Saving Accounts etc.

Also Read >>> 27 Best Ways to Save Income Tax in India FY (2016 – 2017)

6. ICICI Bank Savings Account Interest Rates

ICICI Bank Saving Accounts Interest Rates

If you want that your substantial portion of your income stays liquid and at the same time earns interest rate then ICICI saving account is best bank for you. As we know that saving accounts require minimum number of cash to keep in operation. The interest rates offered by bank saving account is about 4% p.a.

ICICI banks comes with lots of countless unique and innovative features for its clients. With the saving bank account you can get free features like ATM, net banking, mobile banking etc. All the customers of ICICI bank can easily avail money anytime from the bank or from there account without any difficulty.

Types of saving accounts that the bank offers are Titanium Privilege Account, Gold Privilege Banking, Silver Savings Account, Regular Savings Account, Pockets Savings Account, Young Stars Account, Advantage Woman Savings Account etc. Well different saving accounts in ICICI bank offers you different interest rates specially customized for different individuals.

7. Savings Account Interest Rates in PNB Bank

PNB Bank Saving Accounts Interest Rates

PNB Bank provides you different kinds of saving accounts designed for different customers irrespective of their age and income. PNB provides complete safety and security of your money and at the same time your money is within your reach at any point of time. Well bank interest rates offered by bank on the saving accounts are highly attractive.

The interest rates offered by bank is 4% p.a. which is good for initial investors. The facilities provided by the bank on the saving accounts are ATM, net banking, mobile banking. Anyone can open his or her savings account in PNB Bank and start his or her investment today. For opening your account you will have to approach to the bank with can be done via online or offline mode.

Types of saving accounts that PNB offers are Saving Deposit – General Account, PNB Premium Saving Account, Family Suraksha Bachat Khata, PNB Prudent Sweep, PNB Junior SF Account, PNB Vidyarthi SF Account, Basic Savings Bank Deposit Account, Total Freedom Salary Account and High End Salary Account.