Savings Account is the oldest savings and the most common form. Because those of any other more account of saving a save point behind this is that there are win no matter how much interest the principal amount is always protected. This is the simplest form of investment services to keep money in a bank account that follows may be of interest.
The minimum remaining savings needed to maintain the account subject to change in the rate of interest from one bank to another. Banks to certain account holders that minimum balance is to maintain someone else / she has to pay the penalty.
What Is a Savings Account?
Deposit-taking a savings account interest account at a bank or other financial institution. These accounts usually a great option to pay a nominal interest rate, however, their safety and reliability for parking cash you want them to be available for short-term needs.
Savings accounts are some limitations on how much you can withdraw money at times, but usually offer exceptional flexibility to create an emergency fund, are going to buy a car or a vacation, or simply surplus cash you do extensive ” like the goal of a short-term need not ideal account to your checking to savings, this interest can earn elsewhere.
Best Banks Savings Account Interest Rates
#.1 Axis Bank
Axis Bank is provide instant account number and give zero bank account. There are required minimum balance 0,10000, 25000, 100000 and only 3.00% – 4.00% saving account interest rate.
| Minimum Balance Required (INR) | Savings Account Interest Rates (Per Annum) |
|---|---|
| 0/10000/25000/100000/ | 3.00% – 4.00% |
Feature of Axis Bank
- Instant Account Number
- Auto FD feature for balances above ₹10,000
- Zero Balance Account
- Complimentary online debit card/ Optional physical debit card
- Unlimited ATM transactions at all Axis Bank and other banks’ ATM
- Preferential Pricing on Lockers and De-Mat
- ₹150 discount on BookMyShow, ₹ 1,000 cashback on Cleartrip App, 2 months free subscription to Airtel Wynk
- Minimum 15%* off at our partner restaurants
#.2 Central Bank of India
Central Bank Of India provides a low-interest rate of 2.75% – 3.00%. They also give some special feature like online banking, internet banking, virtual banking, is an electric payment system. CBI is providing low-interest personal loans and other loans.
| Minimum Balance Required (INR) | Savings Account Interest Rates (Per Annum) |
|---|---|
| 50 | 2.75% – 3.00% |
Feature of Central Bank of India
- Minimum balance required only ₹50/-
- One cheque book per year free of charge
- 50 (Fifty) withdrawals per year free of charge
- Total credits in a year should not exceed ₹1,00,000/- and balance in the account should not exceed ₹50,000/- in all accounts taken together
#.3 HDFC Bank
HDFC is a high net worth financial Indian bank. It provides the best home loans. Its account balance required 2500, 5000, 10000, 25000. Housing Development Finance Corporation, HDFC Bank was incorporated in 1994, with its registered office in Mumbai, Maharashtra, India. Its first corporate office and a full-service branch at Sandoz House, Worli were inaugurated by the Union Finance Minister, Manmohan Singh.
| Minimum Balance Required (INR) | Savings Account Interest Rates (Per Annum) |
|---|---|
| 2500/5000/10000/25000 | 3.00% – 3.50% |
Feature of HDFC Bank
- Discounts and offers through online shopping
- Safe deposit lockers
- Customized banking service
- No annual maintenance charges for the first year
#.4 ICICI Bank
ICICI bank gives a 3.00% – 3.50% saving account interest rate. ICICI Bank was established by the Industrial Credit and Investment Corporation of India (ICICI), an Indian financial institution, as a wholly-owned subsidiary in 1994 in Vadodara.
| Minimum Balance Required (INR) | Savings Account Interest Rates (Per Annum) |
|---|---|
| 0/1000/2000/2500/5000/10000 | 3.00% – 3.50% |
Feature of ICICI Bank
- Choose your own account number
- Get added advantages with ICICI EPF account
- 24*7 Banking service
- Mobile Banking and Contactless Mobile Payments
#.5 IndusInd Bank
Interest offered on IndusInd Bank FD rates is not only assured, but also the way more than a savings account. Insured by the Government to fixed deposits in all banks ₹ 5 lakh to the Deposit Insurance and Credit Guarantee Corporation deposit insurance proposals.
| Minimum Balance Required (INR) | Savings Account Interest Rates (Per Annum) |
|---|---|
| 0/10000/25000/2500000 | 4.00% – 6.00% |
Feature of IndusInd Bank
- Reward points on every card transaction
- Free monthly e-statement
- Insurance and medical discounts
- Cashback through Indus Money Program
Read Also- What Is a Checking Account?
How to Open a new Savings Account Online?
Zero process of opening online bank account with a balance is very simple through Bisfin. Portal allows a paperless process and a pre-verification. There is an instant approval facility available on this online portal which makes the process of account opening the easiest thing to do ever. The details required to apply for a savings account online are as follows:
- Full name
- Mobile number
- Email ID
- City