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High-Interest Rate Savings Account

Top Banks with High-Interest Savings Account

Last Updated 18th Jun 2021

Currently, the following banks offer the highest interest rate on savings account:

Bank Saving Account Interest Rate
Jana Small Finance Bank 3.50% to 7.25%
Ujjivan Small Finance Bank 4.00% to 7.00%
ESAF Small Finance Bank 4.00% to 7.00%
AU Small Finance Bank 3.50% to 7.00%
Equitas Small Finance Bank 3.50% to 7.00%
Yes Bank 4.00% to 5.50%
South Indian Bank 2.35% to 4.50%
Axis Bank 3.50% to 4.00%
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High-Interest Savings Account

In the current era of digitalization, putting one’s fund in a savings account has been the need of the hour. This is because putting funds in the savings account enables one to make online transactions and transfer funds. Thereby, it is important to know which banks offer the highest savings account interest rate. List of banks offering the highest savings account interest rate is listed as follows:

Best Banks Offering Highest Rate on Savings Account

Bank Savings account Rate of Interest
Jana Small Finance Bank Regular Saving Account 3.50% to 7.25%
AU Small Finance Bank Samarth Saving scheme 3.50% to 7.00%
Ujjivan Small Finance Bank Ujjivan Bank Regular Savings Account 4.00% to 7.00%
Equitas Small Finance Bank Regular Saving Account 3.50% to 7.00%
ESAF Small Finance Bank Regular Saving Account 4.00% to 7.00%
Yes Bank Customizable Savings Account 4.00% to 5.50%
South Indian Bank Regular Savings 2.35% to 4.50%
Axis Bank Basic Savings Account 3.50% to 4.00%

Jana Small Finance Bank

Regular savings account by Jana finance Banks offers higher interest, hassle-free banking experience and is a great bank to park your savings.Indian residents of 18 years and above can apply for this savings account jointly or individually.

Features:

    • This savings account offers higher interest rates.
    • Unlimited withdrawals available for the account holders.
    • Average monthly balance should be Rs. 2,500 per account.
Minimum Account Balance N.A.
Non-maintenance Charges If the balance is below 100% of AMB then Rs. 10 , if the balance is below 50% of AMB then Rs. 20.
ATM Withdrawal Limit 25,000 per day
Debit Card Offered RuPay Platinum

AU Small Finance Bank

Samarth is a saving account that provides a moderate interest rate, ideal security, higher cash deposit limit and great banking experience.Indian resident of 18 years of age and above can apply for this savings facility.

Features:

    • The savings account offers a higher cash deposits limit to the account holders.
    • Facility of NEFT, RTGS, demand draft and locker available.
    • Higher interest rate and monthly payout options are available.
    • Minimum balance per month is Rs. 5,000.
    • Provides a higher interest rate in comparison to other savings account.
Minimum Account Balance N.A.
Non-maintenance Charges If the balance is below 100% of AMB then 5% Balance shortfall, if the balance is below 50% of AMB then 10% Balance shortfall. The maximum charge must be Rs. 500.
ATM Withdrawal Limit Rs. 75,000
Debit Card Offered Visa gold and Visa platinum

Ujjivan Small Finance Bank

Ujjivan Bank Regular Savings Account pays a modest interest rate, its reliability and safety make it an excellent option for parking money one wants for short-term needs.Indian resident of 18 years of age and above

Features:

    • No Average Monthly Balance criteria.
    • NEFT, RTGS, IMPS and Funds Transfer facilities available.
Minimum Account Balance N.A.
Non-maintenance Charges NIL
ATM Withdrawal Limit Rs. 25,000
Debit Card Offered Rupay Classic

Equitas Small Finance Bank

Equitas Regular Savings Account typically pays a modest interest rate, its reliability and safety make it an excellent option for parking money one wants for short-term needs.All resident Indians of 18 years of age and above can apply for this savings account.

Features:

    • An average monthly balance of Rs. 10,000 must be maintained.
    • The saving account provides nomination facility.
    • NEFT, RTGS, IMPS and Funds Transfer facilities are available for this account.
Minimum Account Balance N.A.
Non-maintenance Charges No charges
ATM Withdrawal Limit N.A.
Debit Card Offered Rupay/VISA Classic Debit Card,Rupay Platinum Debit Card with chip, VISA Gold Debit Card, VISA Platinum Debit Card and VISA Signature Debit Card.

ESAF Small Finance Bank

ESAF Regular Savings account pays a modest interest rate, and its reliability makes it an excellent option for parking cash one wants for short-term needs.Resident Indians of 18 years of age and above.

Features:

    • The savings account provide facilities such as fund transfer, standing instruction, and ECS facility.
    • Average quarterly balance should be minimum Rs. 2,000.
    • Minimum initial payment should be Rs. 1,000.
Minimum Account Balance N.A.
Non-maintenance Charges NIL
ATM Withdrawal Limit Rs. 50,000
Debit Card Offered Classic and platinum Debit Card

Yes Bank

Customisable Savings Account not only offers returns as high as a Fixed Deposit but also gives you the power to choose your own Debit card, Account benefits & Pricing option. Here are some other benefits of customisable savings accounts.This account is for resident Indians of 18 years of age and above

Features:

    • Earn at par with FD rates of large banks on savings.
    • Unlimited free ATM withdrawals.
    • Enjoy unlimited rewards & services.
    • Complementary accounts for family members.
    • Earn loyalty rewards points on almost all transactions.
    • Customized Debit Card with lifestyle & entertainment offers.
Minimum Account Balance N.A.
Non-maintenance Charges None
ATM Withdrawal Limit N.A.
Debit Card Offered Yes Prosperity Element Card, YES Prosperity RuPay Domestic Card, Yes Prosperity Engage Debit Card & Yes Prosperity Explore Debit Card

South Indian Bank

Regular savings account that helps you and your family to accumulate their savings.This account is for resident Indians of 18 years of age and above

Features:

    • Standing instruction for remittance of insurance premium, rent and similar payments carried out
    • No Income tax deduction at source on interest
    • Nomination facility available
    • Accounts can be opened in joint names of family members
Minimum Account Balance N.A.
Non-maintenance Charges N.A.
ATM Withdrawal Limit N.A.
Debit Card Offered N.A.

Axis Bank

Enjoy zero balance facility as you save, transact and track your account with ease.An individual residing in India who does not have an existing savings account in Axis Bank, prior to opening the Basic Savings Account can open this account.

Features:

    • 1 multicity cheque book free per quarter
Minimum Account Balance N.A.
Non-maintenance Charges None
ATM Withdrawal Limit Daily ATM Withdrawal of Rs. 40,000
Debit Card Offered RuPay Debit Card

FAQs

Which banks have the highest savings rates?

Currently, Equitas Small Finance Bank offers the highest savings account interest rate of 7.25%. In addition to that, Ujjivan Small Finance Bank, ESAF Small Finance Bank, AU Small Finance Bank, Equitas Small Finance Bank, Yes Bank, South Indian Bank, Axis Bank also offer the highest interest rate on a savings account.

Which Bank gives the highest interest rate on savings?

Equitas Small Finance Bank offers the highest savings account interest rate of 7.25% on the Regular Saving Account product.

Which savings account will save you the most money?

Putting your funds in Regular Saving Account product from Equitas Small Finance Bank will help you maximize your funds, by enabling savings, since it offers high-interest rates of 7.25%.

What banks have the best interest rates on savings accounts?

Some of the banks offering the best interest rates on savings account are listed as follows:

Bank Interest Rate
Jana Small Finance Bank 3.50% to 7.25%
Ujjivan Small Finance Bank 4.00% to 7.00%
ESAF Small Finance Bank 4.00% to 7.00%
AU Small Finance Bank 3.50% to 7.00%
Equitas Small Finance Bank 3.50% to 7.00%
Yes Bank 4.00% to 5.50%
South Indian Bank 2.35% to 4.50%
Axis Bank 3.50% to 4.00%


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