Top 3 private sector banks offering over 6% interest on savings accounts

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Investment

oi-Vipul Das

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A safe and wise investment should not only provide higher returns and meet financial goals, but also have sufficient liquidity to deal with unforeseen disasters. In general, this type of investment is more conducive to risk-averse people who want to start their personal financial experience with a safe, interest-bearing instrument. For them, starting contributions to a savings account as early as possible is a solid choice, as this instrument not only offers stable interest rates, but also a high level of liquidity and is optimal for financial goals. in the short term, whether you are employed or not. or not.

Savings accounts are further insured up to a maximum of Rs 5,00,000 by DICGC or both principal and interest retained by an account holder, thanks to the inbuilt benefits of the above. Therefore, your deposits are safe for as long as you want to earn interest, and a savings account also allows you to make deposits, sufficient withdrawals, apply for net banking or mobile banking, apply for a product investment, apply for a debit card or credit card, and more. People looking for decent savings accounts with a higher interest rate should look to private sector banks that currently offer savings bank accounts with interest rates above 6%.

Bandhan Bank

Bandhan Bank

The bank has changed the interest rates on domestic and non-resident rupee savings deposits effective November 1, 2021. Bandhan Bank now grants a maximum interest rate of 6.00% on daily account balances domestic and non-resident rupee savings bank ranging from Rs 10 lakh to Rs 2 crore.

Balance slab Interest rate pa
Daily balance up to Rs 1 lakh 3.00%
Daily balance above Rs 1 lakh to Rs 10 lakh 5.00%
Daily balance above Rs 10 lakh to Rs 2 crore 6.00%
Daily balance above Rs 2 crore to Rs 10 crore 5.00%
Source: Bank website
DCB Bank

DCB Bank

DCB Bank has changed the interest rates on resident, NRE and NRO savings bank accounts effective 7 February 2022. Following this change, the bank now grants a maximum interest rate of 6.75% on account balances ranging from 50 lakh to less than 2 crore.

Balance range (INR) Interest rate pa WEF 7 February 2022
On balances up to 1 lakh in the account 2.50%
On balances over 1 lakh to less than 2 lakh in the account 4.50%
On balances from 2 lakh to less than 10 lakh in the account 5.00%
On balances from 10 lakh to less than 25 lakh in the account 6.25%
On balances from 25 lakh to less than 50 lakh in the account 6.50%
On balances from 50 lakh to less than 2 crore in the account 6.75%
On balances of 2 crore to less than 50 crore in the account 5.50%
On balances of 50 crore and above 5.00%
Source: Bank website
RBL Bank

RBL Bank

Effective February 3, 2022, RBL Bank has changed interest rates on savings deposits. The bank now grants a maximum interest rate of 6.25% on savings deposits (including NRE/NRO savings) as a result of the change.

Daily balance Interest rate (pa) as of February 3, 2022
Up to Rs. 1,000,000 4.25%
Above Rs. 1 lakh up to Rs. 10,000,000 5.50%
Above Rs. 10 lakh and up to Rs. 3 crores 6.25%
Above Rs. 3 Crore up to Rs. 5 Crore 6.25%
Source: Bank website

Article first published: Monday, February 28, 2022, 10:26 a.m. [IST]

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