Are you planning to open up a savings account? Confused about which bank to go for? Here are the top 5 banks that will allow you to open a savings account with a flexible interest rate.
The savings account is the basic banking facility that the bank authorities provide to the public. It is the simplest way to save your hard-earned liquid capital, without worrying to keep it at your place. Moreover, if we evaluate it as a promising liquid investment, where you get the right to withdraw your capital anytime and anywhere you want.
With the era of modernization, you get the opportunity to open a bank account at your doorsteps, and now with digitalization, you get to open a bank account with your smartphones. The online portal allows you to fill the application with the KYC document, as and when you want.
But the question arises which bank to choose? This depends upon the interest rates the bank offer to its customers. Here you will get to know the Top 5 banks that will provide you with feasible interest rates.
1. HDFC Bank Savings Account
It is a leading private bank in the country that offers the customer to open a different savings account, at the comfort of their place. The interest rates range from 3.00% – 3.50% per annum and are calculated every quarter. The type of savings account offered is a women’s savings account with an interest rate of 3 – 3.5% on an average monthly balance of 10000 ( metro/ urban branches). It also offers regular savings account with interest rates of 3 – 3.5% on an average monthly balance of 10000 ( metro/ urban branches). It includes saving max account with an interest rate of 3 – 3.5% on an average monthly balance of 25000.
2. Kotak Mahindra Savings Account
Kotak Mahindra Bank also offers an extended range of savings account, that will keep your money secure. The interest rates offered are 3.50% – 4.00% per annum above INR 1 lakh. Further, you need not pay monthly account fees on the savings account. A resident of India, HUF, and foreign nationals living in India are all eligible to open a savings account. You will also get a nomination facility with the account.
3. State Bank Of India Savings Account
State Bank of India is the largest bank in the country, which again provides the number of financial products in the market. The interest rates provided by the bank are 2.75% per annum on the savings account. The bank also provides the Debit card facility known as Bias Rupay Debit card. You also get internet banking, mobile banking facility with a savings account.
4. DBS Bank Saving Account
DBS Bank also offers several financial products including a saving account facility. The bank also offers you mobile banking services by downloading the Digibank Mobile Application on your smartphone. The interest rates offered by the bank are 3.50% – 5.00% per annum.
5. IndusInd Bank Saving Account
The bank provides the interest rates from 4.00% – 6.00% per annum. It is a reputed bank, that allows you to keep your capital safe. Further, there is no limit on the maintenance of the maximum balance in the account. You also get a cashback when you jaw the Debit card of the bank. There are offers on travel, and shopping Indus Mobile application.
Thus the choices are numerous, you can choose to open a savings account in a bank that has a reputation and that offers a feasible interest rate.