In India, people who are not willing to take any risk can simply deposit money in their savings bank account and earn interest on their deposits. There are numerous bank options available where you can open your savings bank account. However, it is important to consider the interest rate that is being offered by different banks in order to make sure and select the right bank before opening your savings bank account. There are various private sector as well public sector banks available in India with which you can open your savings bank account. Private Bank in India are believed to provide a much higher interest rate on savings deposits as compared to public sector banks.
List of Banks offering Savings Account
Below is a list of banks that offer various financial services including savings bank account:
With a market capitalization of over INR 1.9 lakh crore Axis bank is amongst the top banks in India. You can open a savings bank account with Axis to get the best possible returns on your deposits. If you have a bank account, then you can apply for a home loan at an affordable interest rate of 7.60% p.a. and personal loan at 10.49% p.a. Moreover, there are a lot of other facilities also available like debit and credit cards, fixed deposits, and various other facilities.
IndusInd bank was established in the year 1994 and is one of the oldest banks in the country. You can deposit your money by opening a savings bank account with this bank and earn interest on your money. Also, you can try the fixed deposit option that is available with IndusInd bank. Generally, the interest rate on a fixed deposit is much higher than that of a savings bank account.
It is the most popular bank throughout the country and by looking at the value of its assets it is clearly the biggest private sector bank in the country. HDFC offers a high interest rate on your savings bank account which in turn helps you to deposit your money and earn interest. There are a number of other services also available that you can avail by opening a savings bank account with HDFC bank. Moreover, you can apply for a home loan at HDFC at an interest rate of 7.55% p.a. and a personal loan at an interest rate of 10.50% p.a.
State Bank of India
The largest public sector bank in the country that has more than 24 thousand branches throughout the country. SBI offers high interest rates on their savings bank account. Therefore, you can deposit your money and can earn interest on your savings. SBI also offers home loan and personal loans to their account holders at an interest rate of 6.70% p.a. for the home loan and 9.60% p.a. for personal loans.
Investment Credit and Investment Corporation of India or ICICI is one of the largest banks in the whole banking network of the country. Headquartered in Mumbai, Maharashtra, ICICI provides excellent customer service and high interest rates on their saving bank account. Apart from the savings bank account you can also avail home loan from ICICI at an interest rate of 7.10% p.a. and a personal loan at 10.50% p.a.
These are some of the top banks in the country that offer Interest Rate on Saving Account. However, it is advisable to compare all the banks and their interest rates before opening a new saving bank account and depositing your money.