Is Bank Saving Account Interest Rates Provides Benefits on Your Deposited Money? Several banks provide savings account to the customers, with the help of which they can build a habit of savings and can use the amount whenever they need to. The bank saving account interest rates helps in increasing the savings of the user, as an applicable interest rate can increase your savings per annum. Many banks offer a higher interest rate on your deposit amount, read this article to know which banks provide you the best savings account interest rates. Banks with high-interest rate savings account Axis Bank: Axis Bank is a well known private sector bank that offers a wide range of banking products to the customers and one such product is a savings account. You can open a savings account from Axis Bank easily through online banking and maintain a minimum balance to earn interest. The Axis Bank Saving Account interest rates range from 3.50% to 6.00%, you can only earn the 6% interest if your minimum balance is INR 100 crore otherwise below INR 50 lakh balance you will earn 3.50% interest. Kotak Mahindra Bank: Kotak provides you many options of savings with Kotak Bank Nova Savings account and 811 account. With an attractive interest rate on your deposited amount up to 6.00%, you can make your savings more beneficial. You just need to maintain a minimum balance of INR 5,000 on your regular savings account and zero balance on 811 account. HDFC Bank: With HDFC regular savings account you can earn 3.50% to 4.00% on your savings and required to maintain a minimum balance of INR 10,000 if you are a resident of a metro city. Otherwise, residents of semi-urban can maintain a savings account with HDFC Bank with a minimum balance of INR 5,000. What are the benefits of a savings account? There are many benefits of the savings accounts as you can deposit an amount every month on your savings account and earn per annum interest rate on your amount. Also, the bank provides the benefits of online banking to the savings account customers so that they can easily pay their utility bills. You can withdraw cash from your savings account anytime when you require money for any emergency. The bank provides you an ATM or debit card with your savings account using which you can make 4 to 5 transactions in a month. If your bank saving account interest rates are high then possibly you can save more and can use the amount for any personal use. You just need to submit your required KYC documents
and address proof for the Savings account opening. So, you must open a bank savings account to get better interest on your savings because you can’t grow your money if you use the old traditional savings methods. Now switch your saving methods and open a savings account with your respective bank or apply for a savings account by going to your nearby bank branch or through online banking.