Savings account is the simplest form of bank account available to customers to deposit their cash. It promotes savings and the interest rate offered depends on the money deposited, maturity range and the scheme opted. People can use these accounts to save money and earn interest on it.
Withdrawing money from these accounts is very easily done with the help of ATMs, cheque and withdrawal slips. Account holders can transfer money through ATMS, net banking, mobile banking, IMPS and through cheque. Shopping can also be easily done with debit as well as credit cards.
Savings Account Interest Rate
Rate of interest payable ranges from 4% to 7% p.a. and entirely depends on the bank you are depositing your money in. There is no limit on the amount of money you can deposit in a savings account and you can even have multiple savings accounts in a bank linked to a single net banking access.
Any Indian citizen above the age of 18 years whether salaried, self-employed or unemployed can have a savings account. A person can have multiple savings accounts, whether they are opened in same branch of the bank, different branches of the same bank or different branches of different banks.
Savings Account Interest Rate Calculator
Savings account interest rate calculator helps you to calculate the amount of interest computed on the money kept in your savings account for a given duration, say one year. Interest is generated on the money that is kept untouched from 10th to 30th /31st of every month. Transaction made during this period can zero the interest earned.
Citibank Savings Account Interest Rate
The bank has four types of savings accounts:
Citibank Savings Account
Citibank Savings Account for Expatriates
Citibank Suvidha Salary Account
Type of Savings A/C
Minimum Balance Required
Citibank Savings A/c
4% per annum
Citibank Suvidha Salary A/c
4% per annum
No minimum balance required
Citibank Savings A/c for Expatriates
4% per annum
AXIS Bank Savings Account Interest Rate
The Easy Access Savings Account by AXIS bank is the right ally for those of you who are at the beginning of your savings journey. This account allows unparalleled access to your money, and makes tracking account activity really easy.
4% rate of interest on daily balances, paid quarterly.
Quarterly interest earned on Savings Account will be credited on the last Saturday of every quarter for the first three quarters and on the last day of the fourth quarter of any Financial Year.
Low minimum opening deposit of Rs.10,000 in metros.
High withdrawal limit of Rs.40,000 at ATMs and shopping transactions limit of Rs.100,000 daily.
First 5 free transactions at Axis Bank ATMs and first 3/5 transactions free at Non Axis Bank ATMs in Metro/Non Metro Locations respectively.
ICICI Bank Savings Account Interest Rate
ICICI bank offers a convenient, safe and rewarding experience with its savings account. In addition to pocket wallets and right to choose your account number, you get discounts on healthcare services by Apollo.
The State Bank of India has various types of savings accounts like Premium Savings account, Saving Plus Account, Yuva Savings Bank Account, Small account, Savings Bank accounts for minors.
SBI Savings Account Interest Rate (ROI) is 4% p.a.
IDFC Bank Savings Account Interest Rate
The savings account of IDFC Bank provides 4% interest rate. The account holder needs to maintain a minimum balance of Rs 25,000. However, the bank does not deduct a fine if the money in the account falls below the threshold limit.
Yes Bank Savings Account Interest Rate
Yes Bank offers 6% interest rates on its savings accounts. The account holder gets the facility to make unlimited transactions from all ATMs throughout India. A range of savings account options are available with Yes Bank. Some of them are as follows- Savings Exclusive, Savings Select, Savings Advantage, Savings Value, Smart Salary Platinum, Smart Salary Exclusive and Smart Salary Advantage.
DBS Bank Savings Account Interest Rate
DBS Bank offers 7% interest rate on those savings accounts that maintain a daily balance of not more than Rs 1 lakh. For accounts having balance in between Rs 1 lakh to Rs 10 lakhs, the bank offers 6% interest. 5% is offered on those savings accounts that maintain a daily balance between Rs 10 lakhs to 1 Crore and 4% on those accounts that maintain a daily balance of more than Rs 1 Crore.
IndusInd Bank Savings Account Interest Rate
IndusInd Bank offers a range of savings account options for its customers. Some of these are mentioned below- Indus Exclusive Savings Account, Indus Select Savings Account, Indus Maxima Savings Account, Indus Privilege Savings Account, Indus Privilege Max Savings Account, Indus Privilege Active, Indus Diva Savings Account, Indus Senior Savings Account, Indus 3 in 1 Savings Bank Account, Indus Young Saver, Indus Classic Savings Account, Indus Easy Savings Account and Indus Small Account. The rate of interest offered by IndusInd bank is 6% for all it customers.