There are numerous benefits to having a savings bank account. You can withdraw money from banks for savings ranging from bank loans to medical expenses. Savings accounts also receive income with these benefits. Because of the large number of banks, people do not know which banks offer the highest interest rates. So, let us know 5 banks that offer up to 7% interest on savings bank accounts.
Small banks pay higher interest rates than large public and private banks.
1. AU Small Accounting Bank:
AU Small Finance Bank offers up to 7% interest on savings account holders. But, there is a restriction for those who have savings account in this bank. Savings accounts must have a minimum balance of Rs. 2,000 to Rs. 5,000 in the account.
Like Ujjivan Bank, Equitas Small Finance Bank also provides loans to rural and urban women’s groups. Many people take advantage of this facility by offering low-interest loans. The bank also offers a maximum interest rate of 7% for savings account openers. However, customers should have a minimum balance of Rs 2,500 to Rs 5,000.
Ujjivan Small Banks are operating in many parts of the country. The bank, which has been lending to rural women’s self-help groups, offers up to 7 per cent interest on savings accounts. It is also offering more offers to its customers than other banks.
4. Suryoday Small Finance Bank:
The bank offers interest on savings accounts up to a maximum of 6.25 per cent. Customers must have a minimum balance of at least 2 thousand rupees.
5. DCB Bank:
TCP offers up to 6.65 per cent interest on bank savings accounts. It is offering customers better interest rates and offers than other banks. Customers at this bank have a minimum balance of Rs 2,500 to Rs 5,000.