RBI in its circular Master Direction – Savings Account Interest Rates on Deposits, which was last updated on 22 February 2019, said that
![savings-account-interest-rates](http://bankpediaa.com/wp-content/uploads/2023/03/Screenshot-2023-03-27-190937.png)
Directions, 2016
But does this happen?
Let us see which bank is offering the highest interest rate on savings account to lure the customer.
Savings Account Interest Rates 2023
Sr no | Bank Name | For Balance | Rate of Interest (p.a.) |
---|---|---|---|
1 | State Bank of India | less than ₹ 10 Crore | 2.70% |
2 | Bank of Baroda | Up to ₹ 1.00 lakh | 2.75% |
3 | Bank of India | Up to ₹ 1.00 lakhs | 2.75% |
4 | Bank of Maharashtra | Up to ₹ 10 Crore | 2.75% |
5 | Canara Bank | less than ₹ 50 lakhs | 2.90% |
6 | Central Bank of India | Up to ₹ 10 crores | 2.90% |
7 | Indian Bank | Up to ₹ 10 lakhs | 2.75% |
8 | Indian Overseas Bank | Up to ₹ 25 lakhs | 2.75% |
9 | Punjab National Bank | Up to ₹ 10 lakhs | 2.70% |
10 | Union Bank of India | Up to ₹ 50 lakhs | 2.75% |
11 | Punjab & Sind Bank | Up to ₹ 1 crore | 2.80% |
12 | UCO Bank | Up to ₹ 10 lakhs | 2.60% |
13 | Axis Bank Limited | Up to ₹ 50 lakhs | 3.00% |
14 | Bandhan Bank Limited | Up to ₹ 1 lakhs | 3.00% |
15 | CSB Bank Limited | Up to ₹ 1 lakhs | 2.10% |
16 | City Union Bank Limited | less than ₹ 1 lakhs | 3.00% |
17 | DCB Bank Limited | Up to ₹ 1 lakhs | 2.25% |
18 | Dhanalaxmi Bank Limited | Up to ₹ 1 lakhs | 3.00% |
19 | Federal Bank Limited | less than ₹ 5 lakhs | 3.45% |
20 | HDFC Bank Limited | less than ₹ 50 lakhs | 3.00% |
21 | ICICI Bank Limited | less than ₹ 50 lakhs | 3.00% |
22 | IndusInd Bank Limited | Up to ₹ 1 lakhs | 4.00% |
23 | IDFC FIRST Bank Limited | less than ₹ 10 lakhs | 4.00% |
24 | Jammu & Kashmir Bank Limited | Up to ₹ 10 crores | 2.90% |
25 | Karnataka Bank Limited | Up to ₹ 1 lakhs | 2.75% |
26 | Karur Vyasa Bank Limited | less than ₹ 5 lakhs | 2.25% |
27 | Kotak Mahindra Bank Limited | Up to ₹ 50 lakhs | 3.50% |
28 | Nainital Bank Limited | Up to ₹ 10 crore | 2.85% |
29 | RBL Bank Limited | Up to ₹ 1 lakhs | 4.25% |
30 | South India Bank Limited | Up to ₹ 2 lakhs | 2.50% |
31 | Tamilnadu Mercantile Bank Limited | Up to ₹ 10 lakhs | 3.00% |
32 | YES Bank Limited | Up to ₹ 1 lakhs | 4.00% |
33 | IDBI Bank Limited | Up to ₹ 5 crores | 3.00% |
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