Having a savings account has many advantages. You can withdraw money from banks for savings ranging from bank loans to medical bills. Savings accounts also receive income with these benefits. Due to the large number of banks, people are not sure which banks offer the highest interest rates. So let us know 5 banks that offer up to 7% interest on savings accounts.
Smaller banks pay higher interest rates than large public and private banks.
1. Small accounting bank of the AU:
AU Small Finance Bank offers up to 7% interest on savings account holders. But, there is a restriction for those who have a savings account in this bank. Savings accounts must have a minimum balance of Rs. 2,000 to Rs. 5,000 on the account.
2. Equitas:
Like Ujjivan Bank, Equitas Small Finance Bank also provides loans to groups of rural and urban women. Many people take advantage of this facility by offering loans at low interest rates. The bank also offers a maximum interest rate of 7% for openers of savings accounts. However, customers must have a minimum balance of Rs 2,500 to Rs 5,000.
3. Oujjivan:
Ujjivan’s small banks operate in many parts of the country. The bank, which lends to rural women’s self-help groups, offers up to 7% interest on savings accounts. It also offers more offers to its customers than other banks.
4. Suryoday Small Finance Bank:
The bank offers interest on savings accounts up to a maximum of 6.25 percent. Customers must have a minimum balance of at least 2,000 rupees.
5. DCB Bank:
TCP offers up to 6.65% interest on bank savings accounts. It offers its customers better interest rates and offers than other banks. Customers of this bank have a minimum balance of Rs 2,500 to Rs 5,000.
