Savings Accounts Interest Rates: Due to the rapidly decreasing interest rate on FDs and savings accounts of banks, people are hesitant to keep money in them. Most of the big banks are giving interest in the range of 5 to 6 per cent. But some small finance banks are also offering higher interest rates to woo customers.
According to media report after conducting a survey on the interest rate. Accordingly, here we are telling you about those small finance banks and private banks which are giving higher interest rates. But you should check many things before opening an account in small banks. So that there is no harm to your money.
Check these details before opening the account
Small finance banks are paying more interest than big private and public sector banks to woo new retail customers. You should choose a bank with long term track record, good service standards, large branch network and ATM service in different cities, while good interest rate will be your bonus.
AU Small Finance Bank: This bank is offering an interest rate of up to 7 percent on its savings accounts. It requires an average monthly balance of Rs 2,000 to Rs 5,000.
Ujjivan Small Finance Bank: This bank is offering up to 7 percent interest on savings accounts.
Equitas Small Finance Bank: Equitas Small Finance Bank is offering up to 7 percent interest on savings accounts. It requires maintaining an average monthly balance of Rs 2,500 to Rs 10,000.
DCB Bank: DCB Bank is offering an interest rate of up to 6.5 percent on savings accounts. This bank is offering the best interest rate among private banks. In this, a minimum balance has to be kept from Rs 2,500 to Rs 5,000.
Suryoday Small Finance Bank: This bank is offering 6.25 percent interest on savings accounts. The average monthly balance needs to be kept at Rs 2,000.
