Almost every one of us has visited a bank at one point or the other to deposit money, withdraw money, or access net banking facilities. One of the most vital financial facilities offered by a bank to its users is an opportunity to open a savings account. A savings account will allow users to deposit and withdraw their money with banks. It is important to compare the savings account interest rate and features offered by the banks to decide which are the best banks in India.
Depositors will receive a fixed rate of interest on the amount deposited, although the percentage of interest rate is low. The amount invested in savings bank accounts is considered liquid investments as consumers can withdraw their money as and when they want without paying extra bucks.
To help you determine the best banks in India, you can refer to the following table. It will help you compare the savings account interest rate of each bank and choose the best among them.
| S. No. | Savings bank account | Rate of Interest offered p.a. |
| 1. | HDFC Bank Savings Account | 3.50% |
| 2. | State Bank Of India savings account | 2.70% |
| 3. | Kotak Mahindra Bank Savings Account | 3.50% |
| 4. | RBL Bank Savings Account | 6.00 % |
| 5. | DCB Bank Savings Account | 6.50% |
| 6. | ICICI Savings Bank Account | 3.50% |
| 7. | IndusInd Bank Savings Account | 5.00% |
| 8. | Axis Bank Savings Account | 3.50% |
Rank Of The Best Banks In India
- State Bank of India savings account
State Bank of India is a public sector banking institution offering financial services across India for more than two hundred years. It is one of the most popular banks among Indians due to the level of convenience offered by it. The features of the SBI savings account are as follows:
- Zero limits in terms of maximum balance
- SBI quick facility
- Access to YONO mobile application
- HDFC Bank Savings Account
To meet the consumer’s requirements, the services provided by HDFC bank include all kinds of banking solutions. From mobile banking, and free debit cards, to passbook and chequebook services, HDFC savings accounts can cut it. HDFC allows women and senior citizens to open savings accounts with unique benefits and features. The high savings account interest rate of HDFC bank is making it more popular. Consumers always have an opportunity to a Relationship Manager to get instant help.
- Kotak Mahidra Bank Savings Account
Kotak Mahindra allows its consumers to choose from more than ten types of savings accounts- each one comes with its unique set of features. The minimum AQB of Kotak Mahindra’s savings account is upto Rupees 2,000. Most importantly, if you’ve chosen to open a saving account, you can withdraw unlimited cash from any ATMs operated by Kotak Mahindra Bank free of cost. Consumers with savings account in Kotak Mahindra Bank can reap the benefits of several financial services and products.
- IndusInd Bank Savings Account
IndusInd Bank allows its users to open different types of savings accounts- the two prominent savings accounts are the Indus Exclusive Savings Account and the Indust Delite Savings Account. Users can avail of exciting offers and discounts on these accounts. To fulfil the requirements of consumers, IndusInd Bank offers special banking facilities to its clients, such as IVR support, phone banking, Internet banking, and so on. One of the plans of the best banks in India allows consumers to make regular payments of premium.
Conclusion
Compare the interest rates offered by different banks on the total deposit amount. Also, enquire about their services when selecting the best bank to open a savings account with.
