Most Indian citizens feel that it is safer to put their money in the bank accounts than invest in risky policies, but savings accounts give a very low-interest rate as compared to other investment policies like FDs, Mutual Funds, Stocks etc.
However, most of them are long term investments and you can’t access the money immediately. But many banks are offering up to a 7% interest rate on savings accounts and today we will list them! According to the data compiled by Bank Bazaar, 5 such banks offer about 7% interest rate.
- AU Small Finance Bank
Customers can get up to a 7% interest rate on their AU Small Finance Bank savings account. The only catch is the customers have to keep a minimum balance of Rs 2,000 to Rs 5,000.
- Ujjiwan Small Finance Bank
The bank offers an interest rate of up to 6.75% on savings accounts.
- Equitas Small Finance Bank
The bank offers up to 7% interest for deposits of above Rs 5 lakhs to Rs 50 lakhs.
- DCB Bank
DCB Bank offers a higher interest rate of up to 6.25% on the savings account. It is giving the highest interest rate among private banks. Customers have to maintain a minimum balance of Rs 2,500 to Rs 5,000.
- Suryoday Small Finance Bank
The bank is offering up to a 6.25% interest rate on a savings account. The minimum balance is Rs 2,000.
All these banks are new and want to attract more customers hence they are offering such amazing deals. However, you must be careful with where you want to keep your money safe.
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