Banks offer a range of financial products to their customers to meet their needs. These products also include Savings Account. People park their money with Savings Account for a variety of reasons. The most attractive features offered by a Savings Account are liquidity of funds, provides ATM/Debit card, paying utility bills through standing instructions, platform for net banking, online shopping, viewing statements online and facility of mobile banking.
Earlier banks used to offer same rate on their savings accounts Interest rate i.e. 4% per annum and you used to get the same returns with any bank. But during the year 2012, Reserve Bank of India (RBI) has de-regulated interest on savings account and banks are now free to decide on the interest rate that they want to offer on savings account which directly benefits the customers. Due to stiff competition, banks have started paying higher saving interest rates like 6% to 7% in order to attract more and more people to open the account with them and enhance their customer base.
Savings Account Interest rates in 2019 is calculated on daily basis for the closing day balance which will get accumulated and will be paid to the customers on quarterly or half yearly basis. You can use Savings Interest Rate Calculator to calculate your saving interest.
Below list will help you selecting the best savings account in 2019 for parking your money in terms of higher interest rate and other features. It also facilitates you to calculate the interest amount on your deposit.
Bank Name | Interest Rates (p.a.) | Limit | Interest Rates (p.a.) | Limit | Calculate |
---|---|---|---|---|---|
Yes Bank | 5% | Below Rs 1 Lakh | 6% | Rs 1 Lakh to Rs 1 Crore | |
Kotak Mahindra Bank | 5% | Upto Rs 1 Lakh | 6% | Above Rs 1 Lakh to Rs 1 Crore | |
Bandhan Bank | 4% | Below Rs 1 Lakh | 6% | Rs 1 Lakh & above | |
Rbl Bank | 6% | Upto Rs 1 Lakh | 6% | Above Rs 1 Lakh to Rs 10 Lakhs | |
Dcb Bank | 4% | Below Rs 1 Crore | 6% | Above Rs 1 Crore to Rs 5 Crores | |
Laxmi Vilas Bank | 4% | Upto Rs 1 Lakh | 5% | Above Rs 1 Lakh to Rs 5 Lakhs | |
Indusind Bank | 4% | Upto Rs 10 Lakhs | 5% | Above Rs 10 Lakhs to Rs 1 Crore | |
Oriental Bank Of Commerce | 4% | Upto Rs 25 Lakhs | 4% | Above Rs 25 Lakhs | |
Vijaya Bank | 4% | Below Rs 50 Lakhs | 4% | Rs 50 Lakhs & above | |
Central Bank Of India | 4% | Upto Rs 50 Lakhs | 4% | Above Rs 50 Lakhs | |
Karur Vysya Bank | 4% | Upto Rs 1 Lakh | 4% | Above Rs 1 Lakh | |
State Bank Of Travancore | 4% | Upto Rs 1 Crore | 4% | Above Rs 1 Crore | |
Allahabad Bank | 4% | Less than Rs 40 Lakhs | 4% | Rs 40 Lakhs & above | |
Federal Bank | 4% | Below Rs 50 Lakhs | 4% | Rs 50 Lakhs & above upto Rs 10 Crores | |
Punjab National Bank | 4% | Upto Rs 25 Lakhs | 4% | Above Rs 25 Lakhs | |
Jammu And Kashmir Bank | 4% | Upto Rs 10 Lakhs | 4% | Above Rs 10 Lakhs to Rs 1 Crore | |
Axis Bank | 4% | Below Rs 50 Lakhs | 4% | Rs 50 Lakhs & above | |
Corporation Bank | 4% | Below Rs 50 Lakhs | 4% | Rs 50 Lakhs & above | |
State Bank Of Bikaner And Jaipur | 4% | Upto Rs 1 Crore | 4% | Above Rs 1 Crore | |
Andhra Bank | 4% | Upto Rs 50 Lakhs | 4% | Above Rs 50 Lakhs | |
Hdfc Bank | 4% | Below Rs 50 Lakhs | 4% | Rs 50 Lakhs & above but below Rs 500 Crores | |
Punjab And Sind Bank | 4% | Upto Rs 20 Lakhs | 4% | Above Rs 20 Lakhs | |
Dena Bank | 4% | Upto Rs 25 Lakhs | 4% | Above Rs 25 Lakhs | |
Syndicate Bank | 4% | Upto Rs 25 Lakhs | 4% | Above Rs 25 Lakhs | |
Bank Of Baroda | 4% | Upto Rs 50 Lakhs | 4% | Above Rs 50 Lakhs | |
Icici Bank | 4% | Below Rs 50 Lakhs | 4% | Rs 50 Lakhs & above | |
State Bank Of India | 4% | Upto Rs 1 Crore | 4% | Above Rs 1 Crore | |
Catholic Syrian Bank | 4% | Upto Rs 1 Lakh | 4% | Above Rs 1 Lakh to Rs 50 Lakhs | |
Idbi Bank | 4% | Upto Rs 25 Lakhs | 4% | Above Rs 25 Lakhs | |
Uco Bank | 4% | Upto Rs 50 Lakhs | 4% | Over Rs 50 Lakhs | |
Bank Of India | 4% | Upto Rs 50 Lakhs | 4% | Above Rs 50 Lakhs | |
State Bank Of Mysore | 4% | Upto Rs 1 Crore | 4% | Above Rs 1 Crore | |
City Union Bank | 4% | Upto Rs 1 Lakh | 4% | Above Rs 1 Lakh | |
Indian Bank | 4% | Upto Rs 50 Lakhs | 4% | Above Rs 50 Lakhs | |
South Indian Bank | 4% | Upto Rs 1 Lakh | 4% | Above Rs 1 Lakh to below Rs 5 Crore | |
Union Bank Of India | 4% | Upto Rs 25 Lakhs | 4% | Above Rs 25 Lakhs | |
Bank Of Maharashtra | 4% | Upto Rs 25 Lakhs | 4% | Above Rs 25 Lakhs | |
Jammu And Kashmir Bank | 4% | For Any Amount | 4% | Above Rs 10 Lakhs | |
State Bank Of Hyderabad | 4% | Upto Rs 1 Crore | 4% | Above Rs 1 Crore | |
Indian Overseas Bank | 4% | Upto Rs 25 Lakhs | 4% | Above Rs 25 Lakhs | |
Tamilnad Mercantile Bank | 4% | Upto Rs 1 Lakh | 4% | Above Rs 1 Lakh | |
United Bank Of India | 4% | Upto Rs 50 Lakhs | 4% | More Than Rs 50 Lakhs | |
Canara Bank | 4% | Upto Rs 50 Lakhs | 4% | Above Rs 50 Lakhs | |
Karnataka Bank | 3% | Upto Rs 1 Lakh | 4% | Above Rs 1 Lakh to Rs 50 Lakhs | |
State Bank Of Patiala | 4% | Upto Rs 1 Crore | 4% | Above Rs 1 Crore | |
Dhanalakshmi Bank | 4% | Upto Rs 50 Lakhs | 4% | More Than Rs 50 Lakhs |
2019 February 23 is a bank holiday in Andaman And Nicobar Island due to 4th Saturday Bank Holiday.
2019 March 04 is a bank holiday in Andaman And Nicobar Island due to Maha Shivratri.
2019 March 04 is a bank holiday in Chandigarh due to Maha Shivaratri.
2019 March 09 is a bank holiday in Andaman And Nicobar Island due to 2nd Saturday Bank Holiday.
2019 March 20 is a bank holiday in Assam due to Dol Jatra.
2019 March 20 is a bank holiday in Jharkhand due to Holika Dahan.
Bank Name | Tenure | Interest(p.a.) |
---|---|---|
Esaf Small Finance Bank | 12 Months | 8.75% |
Utkarsh Small Finance Bank | 12 Months | 8.50% |
Equitas Small Finance Bank | 12 Months | 8.50% |
North East Small Finance Bank | 12 Months | 8.50% |
Suryoday Small Finance Bank | 12 Months | 8.50% |
Ujjivan Small Finance Bank | 12 Months | 8.30% |
Fincare Small Finance Bank Ltd | 12 Months | 8.00% |
Rbl Bank | 12 Months | 8.00% |
Indusind Bank | 12 Months | 8.00% |
The Nainital Bank | 12 Months | 7.90% |
Bank Name | Tenure | Interest(p.a.) |
---|---|---|
Esaf Small Finance Bank | 1 Year | 9.25% |
Suryoday Small Finance Bank | 1 Year | 9.00% |
Utkarsh Small Finance Bank | 1 Year | 9.00% |
Equitas Small Finance Bank | 1 Year | 9.25% |
North East Small Finance Bank | 1 Year | 9.00% |
Ujjivan Small Finance Bank | 1 Year | 8.80% |
Indusind Bank | 1 Year | 8.50% |
Fincare Small Finance Bank Ltd | 1 Year | 8.50% |
Rbl Bank | 1 Year | 8.50% |
The Nainital Bank | 1 Year | 8.40% |