Top 10 Banks With Highest Savings Account Interest Rate in India 2021

Top 10 Banks With Highest Savings Account Interest Rate in India 2021

Savings Account is the most preferable financial facility or instrument because of its functionality and also its longer-term benefits compared to all other financial facilities. A savings account ensures that people get the maximum benefit out of interest earned. Savings Account can be opened and operated using a joint bank account. A joint bank account enables a person to open an account in his or her name with other bank in a joint account. The interest earned from each day of the week is pooled together as a single amount and invested in the other bank account. Hence, it is said that savings account is a decent instrument of savings. However, all banks have savings accounts which are of varying fees. Thus, it is a matter of deciding which bank have the best rate of interest on savings accounts of any other banks.

In this article, we will highlight and share the top banks with the highest savings account interest rate of 2021. According to CIBIL, the average annual savings rate in India is currently 8.25% and it is the best among other locations of Australia, China, and Taiwan. This means that most banks, in Indian market, offer a rate higher than 8.25%. This is why this list of the best savings accounts with highest savings interest rate in India in 2021 is an apt place to start. Follow this easy guide to get a higher interest rate on your savings accounts.

1. Champion Bank

Known for its outstanding products and services, Champion Bank has been in the financial industry for quite long now. Champion Bank has a total of 80 branches across 10 cities in India. Champion Bank gives customers a good experience of products and services. It gives the value of products by assessing a personal’s creditworthiness. Therefore, customers are assured that they are coming in a secure environment of excellent product, service, and diligence. Champion Bank has great opportunities to achieve its objective of excellence and success in the future. Hence, customers are faced with a slew of attractive and good schemes like higher credit card interest for customers with a 2-time minimum saving of 1500 and one and a half times credit card interest for customers who save 1000 a year. As a result, Champion Bank is also famous for its outstanding credit card scheme.

Moreover, Champion Bank gives a high savings interest of 9.25% which is the highest among all bank’s. Some of the outstanding features of Champion Bank include:

Minimum Saving Scheme 0.75%

Monthly Inclusive 2-Note Credit Card Revolving Reward Scheme 0.75%

0.75% Advanced Credit Card Inclusive Credit Card Revolving Reward Scheme 0.75%

Extended Credit Card Inclusive Credit Card Revolving Reward Scheme 0.75%

Introductory Scheme 0.75%

Good AI Billing Total Reimbursement 0.25%

No Late Charges 0.25%

Charges Axiom 0.75%

Affirm 0.75%

0.25% Financial Inclusion Credit 0.75%

Total A$$=0.75%

Great Pay 0.75%

100% Order Processing 0.75%

Total Inclusive 0.75%

Better Inclusive0.75%

Additional 0.25%

Service 0.75%

Bank-No.0.0

Aditya Birla Yashwantrao Baghel Bank 0.75%

Shekhar Bank 0.75%

845 Banking Centers

1-in-1 Credit Card

0.75% interest on opening money in most banks

SBI

This big bank in the country has the best interest rate. It has quite a number of branches and offices across India and it has conveniently equipped its branches and offices with the basic features such as customer service. Thus, the interest rate of SBI is 10%. Apart from the bank’s low interest rate on savings accounts, the bank also offers a 10 % promotion on HDFC Bank’s Hybrid Saving Account.

2. HDFC Bank

Due to its reasonable interest rate of 10 % on savings account, HDFC Bank is very popular among the customers. HDFC Bank offers high savings interest of 9.5%

3. ICICI Bank

Thanks to its good banking experience and decades-long service in the banking industry, ICICI Bank has an excellent rate of 9.5 % interest on Savings Account. With the high interest rate, the bank has become a popular local favorite.

4. Kotak Mahindra Bank

Unlike the two others in this list, Kotak Mahindra Bank offers a decent interest rate on Savings Account. The rate is 10 %. Kotak Mahindra Bank has also made its online application