Discover the 6 Banks Offering the Highest Savings Account Interest Rates

Discover the 6 Banks Offering the Highest Savings Account Interest Rates

Attractive interest rates can be challenging. However, some banks still strive to provide competitive rates to help customers grow their savings. We will explore six banks offering up to 7% interest rates on savings accounts. The first step in beginning your financial path is opening a savings account. Savings account interest is computed daily based on the account’s end-of-day sum and paid quarterly.

Small finance and payment banks are your most excellent option to earn higher interest on your money. Small Finance Banks and Payments Banks have low-cost, high-tech-enabled business structures, which enables them to provide higher value to the clients. These banks offer higher interest rates on savings accounts than mainstream banks, allowing customers to earn more investment returns.

These financial institutions place a high priority on saving, and they work to provide their clients with the highest returns on their money. The six banks listed below offer excellent interest rates on savings accounts.

1) Interest rate on savings accounts at Airtel Payments Bank

Airtel Payments Bank is a financial institution that offers various banking services, including savings accounts. The interest rates on savings accounts at Airtel Payments Bank may vary based on multiple factors and can be subject to change. It is important to note that I do not have access to real-time or specific financial information as an AI language model.

To obtain precise and up-to-date details on savings account interest rates at Airtel Payments Bank, we recommend checking their official website or contacting their customer service team for assistance. By doing so, you can obtain the most reliable and current information about the interest rates offered by Airtel Payments Bank on their savings accounts.

The digital and paperless Airtel Payments Bank offers an attractive interest rate of 7% on savings account balances between 1 lakh and two lacks. In comparison, 2% is provided on balances under 1 lakh. The Bank offers a secure, convenient, and satisfying digital banking experience.

 

 

2) Interest rate on ESAF Small Finance Bank savings accounts

ESAF Small Finance Bank is a financial institution that focuses on providing banking services to individuals and small businesses. ESAF Small Finance Bank’s savings account interest rates may fluctuate and are influenced by current market conditions and internal policies.

For balances under INR 5 lakh, ESAF Small Finance Bank gives an interest rate of 4%, while for balances over INR 15 lakh, customers receive 6.5% interest on their savings account.

3) Interest rate on savings accounts at Equitas Small Finance Bank

Equitas Small Finance Bank is a financial institution specializing in banking services to individuals and small businesses. Equitas Small Finance Bank’s savings account interest rates are subject to change due to market conditions and internal policies. They may vary.

Equitas Small Finance Bank provides a 3.5% interest rate on accounts under one lakh, 5.25% interest on balances between one lakh and five lahks, and 7% interest on balances beyond five lakh.

 

4)Interest rate on savings accounts at Suryoday Small Finance Bank:

Fincare Small Finance Bank offers banking services, including savings accounts, to individuals and small businesses. Savings account interest rates may fluctuate and are influenced by market conditions and the Bank’s policies.

For savings account balances above $5 lakh, Fincare Small Finance Bank gives an interest rate of 7.11%, while for credits between $1 and $5 lakh, it offers a rate of 6.11%.

 

5) Interest rate on savings accounts at Suryoday Small Finance Bank

Suryoday Small Finance Bank is a financial institution in India that operates as a small finance bank. It specializes in providing various banking services to individuals and small businesses, focusing on financial inclusion and serving the underbanked segments of the population.

Suryoday Small Finance Bank aims to provide accessible and customer-centric banking services to help individuals and businesses achieve their financial goals.

At Suryoday Small Finance Bank, you can choose from various products and services such as savings accounts, current accounts, fixed deposits, loans, and insurance. The Bank aims to provide accessible and convenient banking solutions tailored to the needs of its customers. A fantastic interest rate of 7.00% is offered by Suryoday Small Finance Bank on savings account balances above five lakhs and 6.75% on balances above 1 lakh up to and including five lakhs.

 

6) Interest rate on savings accounts at AU Small Finance Bank

AU Small Finance Bank is a financial institution in India that operates as a small finance bank. It provides various banking services to individuals, micro and small enterprises, and retail customers.

AU Small Finance Bank offers various products and services, including savings accounts, current accounts, fixed deposits, loans, insurance, and wealth management solutions. The Bank aims to cater to the diverse financial needs of its customers and focuses on providing personalized and customer-centric services.

Regarding savings accounts, AU Small Finance Bank offers different types of arrangements designed to meet the varying requirements of its customers. These accounts may include competitive interest rates, flexibility in deposits and withdrawals, and additional benefits like insurance coverage and rewards programs. On savings account balances between 25 lacks and one crore, AU Small Finance Bank provides a 7% interest rate.

Finding a bank that offers high-interest rates on savings accounts can significantly benefit individuals looking to grow their money. The six banks discussed in this article stand out for their attractive interest rates of up to 7%. By choosing one of these banks, individuals can make their money work harder and take significant steps toward achieving their financial goals. Remember to carefully evaluate each Bank’s terms and conditions, account features, and customer service to find the one that best suits your needs and aspirations.