These private banks offer up to 6.5% interest on savings accounts

New Delhi: Since the fixed deposit rates have come down, people have started to place their savings account because they are offering rates compared to FD rates. A savings account is a basic type of bank account that allows you to deposit money, keep it safe, and withdraw funds, all while earning interest.

There are several advantages to having a savings account like liquidity, interest, safety of funds, additional income due to the automatic swipe function between savings account and fixed deposit etc. Both private and public sector banks offer savings accounts. facilities. Small private banks offer higher interest rates on savings accounts compared to large private banks like HDFC Bank and ICICI Bank to attract new retail customers.

Here are the top five private banks offering the best interest rates on savings accounts.

DCB Bank offers interest rates of up to 6.5% on savings accounts. Among the private banks, this bank offers the best interest rates. The minimum required balance is Rs 2,500 to Rs 5,000.

Bandhan Bank offers interest rates of up to 6% on savings accounts. The average monthly balance required is 5,000 rupees.

RBL Bank offers interest rates of up to 6% on savings accounts. The average monthly balance requirement is Rs 2,500 to Rs 5,000.

Yes Bank offers interest rates of up to 5.25 percent on savings accounts. The average monthly balance requirement is Rs 10,000 to Rs 25,000.

IDFC Premier Bank and IndusInd Bank offer interest rates of up to 5 percent on the savings account. The average monthly balance required is 10,000 rupees at IDFC First Bank. Likewise, the average monthly balance requirement is Rs 1,500 to Rs 10,000 at IndusInd Bank.

While small private banks offer higher interest rates on savings accounts than major private banks, you should choose a bank with long term experience, good service standards, an extensive branch network and ATM services in all cities.