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Want to earn high interest rates on your savings bank account? Here are the top 5 banks to look for

If you happen to be a first-time investor, then lucrative savings accounts can let you earn higher interests on your savings. People having some steady source of income through a salary or any other source are considered the ideal candidates to open a savings bank account. A saving account with any bank offers a plethora of benefits that can help an individual start off with proper savings for the future times.

An ideal savings bank account should be offering good interest rates, immense flexibility with respect to deposits & withdrawals, the reasonable value of minimum balance mandatory in the given account, customized banking services, and other add-ons to make it a seamless experience for the account holders. In India, there are several banks offering the ease of opening a saving account to the individuals in a hassle-free manner. When you are looking forward to opening a savings bank account with any Indian bank, here are some of the key factors you should look forward to:

  • The overall safety of your money or savings
  • Prompt and round the clock customer service support
  • Mobile banking
  • Internet banking
  • Phone banking
  • Several branches across the nation, especially in the city that you live in.

With the presence of several bank choices for you towards opening a savings bank account with much ease, you might get into a dilemma with respect to choosing the right one. To help you in choosing the best bank for savings account, here is our list of the top suggestions offering the highest rates of interest on your savings.

  1. Kotak Mahindra Bank: Understanding the importance of individual financial goals, the Kotak Mahindra Bank has come up with a lucrative savings bank account scheme that lets you obtain maximum benefits out of the same. While opening a savings bank account with Kotak Mahindra Bank, here are some key features to consider:
  • Internet banking facility
  • Higher interest rates on saving account in comparison to other banks as you receive up to 6 percent interest rate on any amount across various types of savings account that you hold with Kotak
  • Ease of mobile banking through the Kotak Mahindra Bank app.
  • Mobile banking with the use of the specialized Kotak 811 Savings Account offering a fully digital experience
  • Savings account for Kids – Junior Account which offers many privileges across dining, shopping in kids brands.


  1. HDFC Bank: HDFC Bank offers a great customer care service along with the ease of getting access to additional high-end banking services like Internet Banking, Mobile Banking, and online banking. The HDFC Bank offers an interest rate of around 4 percent on basic savings account with no minimum balance requirement. Here are some core savings account types offered by the HDFC Bank:
  • Regular savings account
  • SavingsMax Account
  • Senior citizens account
  • Institutional saving account
  • Kids advantage account
  • Women’s savings account


  1. ICICI Bank: Being one of the most popular banking options in India, the ICICI Bank is known for offering around 4 percent of interest rate upon opening a savings bank account with the same. When you open a savings bank account with the ICICI Bank, here are some of the highly personalized services offered to you as an account holder:
  • Multiple savings account options
  • Huge, widespread network of ATMs
  • Customers are given the ease of selecting their own account numbers
  • Zero balance facility
  • Convenience of mobile & Internet banking


  1. Axis Bank: The Axis Bank is also known for its diverse range of excellent customer services when it comes to opening a savings bank account with the same. Offering up to 4 percent rate of interest on the savings bank account, the Axis Bank is popular for providing a wide range of additional benefits including:
  • A variety of savings bank account to look out for as per the unique banking requirements
  • Low minimum savings account opening deposits
  • Free, excellent phone, mobile, & Internet banking facilities
  • Personalized banking services
  • Over 12,000 ATMs across the nation


  1. Digibank by DBS: Given the latest trend of digitization, the Digibank offering by DBS is one of the best banks for savings account in India. Offering a higher rate of interest of up to 7 percent, the account holder with DBS is expected to expect lucrative savings in the future times. This higher rate of interest is offered when the account holder maintains a balance of around 1 Lakh INR in the DBS savings account. With the convenience of online & mobile banking through the DBS e-wallet, the users are given the ease of making transactions through the e-wallet itself.

Ensure maximum savings with the help of these banks!


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