Which bank gives highest interest rate on savings account
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I am looking for banks that provide high interest on money held in savings bank account.
following are the requirements
1. high interest rates on savings account (>6)
2. no or very low charge for NEFT
3. ease of account opening (app based or online would be great)
4. debit card would be a added advantage, but with no annual charges.
5. also let me know about any other charges that are levied. (i see some banks have started charging for SMS alerts)
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RBL Bank 7.1% p.a = Daily balance above Rs.10 lakhs 6.1% p.a = Daily balance above Rs.1 lakh 5.1% p.a = Daily balance upto Rs.1 lakh Check Here
Yes Bank 5% p.a = Saving Deposits Balance upto Rs. 1 lakh 6% p.a = Saving Deposits Between Rs. 1 lakh and Rs. 1 crore 6.25% p.a = Saving Deposits above Rs. 1 crore Check Here
Kotak Mahindra Bank 5% p.a = Saving Deposits Balance upto Rs. 1 lakh 6% p.a = Saving Deposits Between Rs. 1 lakh and Rs.1 crore 5.5% p.a = Saving Deposits between Rs.1 crore and Rs.5 crore Check Here
Lakshmi Vilas Bank 5% p.a = Daily Balance Upto Rs.5 lakh 6% p.a = Above Rs.5 lakh Check Here
IndusInd Bank 4% p.a = Daily balance upto Rs.1 lakh 5% p.a = Daily balance above Rs.1 lakh but less than Rs.10 lakhs 6% p.a = Daily balance above Rs.10 lakhs 4% p.a = Non-resident NRO and NRE accounts Check Here
Bandhan Bank 4.25% p.a = Daily balance upto Rs.1 lakh. Interest paid half yearly. 5% p.a = Daily balance above Rs.1 lakh. Interest paid half yearly. Check Here
HDFC Bank 3.50% p.a = Savings Account balance below Rs. 50 lakhs 4.00% p.a = Saving Account balance of and above Rs. 50 lakhs Check Here
Axis Bank 3.50% p.a = Savings Account balance below Rs. 50 lakhs 4.00% p.a = Saving Account balance of and above Rs. 50 lakhs Check Here
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Can you please give more details, rate of interest, charges etc.
Airtel payments bank 7.25
Online debit card available but not works some times
I think APB , it is charged if we do neft to other banks
Also the interest rate of 6-7% is only above 1L. Please share details of that as well for the banks you have been using.
Digibank 
but app is pathetic
Is there a web interface available?
Its available but with very minimal functionality
From the messages, APB is a big NO.
DBS and Kotak are looking good.
Any YES bank users?
Bandhan bank advertising says 7% please. Find out and update here.
DigiSavings by Digibank is best with 6% interest 
Check cities here >> https://www.dbs.com/digibank/in/citie...ml
Features here >> https://www.dbs.com/digibank/in/feature...ml
Zero balance + unlimited withdrawals from any ATM + 6% interest on your account balance + top notch support
Signup with referral for bonus money 
I closed my APB account last month
Pm me for dbs digibank refferal if anyone need
Yes bank is better option of all the abv as it has many branches and also no charge for neft and 5 rs for imps. Also it is growing it’s network
What about the payout of interest in DBS? Is it quarterly or annually ?
And there is no biometric verification store/agent in my state. How can I open a savings account ?
you can open aadhar otp based account without personal verification but has to be done within a year
If branch available in your city by then, then fine otherwise you can transfer funds
If anyone need Dbs digibank referral, then pm me.
Closing the loop.
I opted for digi saving account and happy with the service for the last 3+ months.
Aadhar OTP verification was good enough for account creation and agent visited my place for finger print verification in 2 days after requested.
All my emergency fund is shifted to DBS and I earn almost double interest than earlier.
The app was unstable in the beginning, however it seems to be quite stable now. I use NEFT and UPI the most.
Many offers on the DBS debit cards as well, havent used yet,
Also the referral benefits are also good now but not very attractive as they were earlier.
I have referred 5 of colleages and I got 200Rs each and they get 500Rs each on spending 5000Rs.
Share referal
If you are interested in fd’s then fincare small finance bank is giving 9% interest to general public and 9.5% to senior citizens.
For savings accounts Dbs Digibank is best , it gives 6% interest on savings and many other benefits like zero balance maintainance,unlimited time free money ithdrawal from any atm, free visa paywave debit card etc.. also opening bonus , pm me for referral of dbs digibank, i will give.
Is the interest compounded monthly or quarterly in dbs?
Quarterly
I too had this dilema. I needed to park the bulk of my saving in an account giving good interest. RBL, ESAF seemed to offer the best rates with ESAF offering the highest. But I was afraid in parking my life’s daving in these 2 as they are new and don’t have a lot of branches. I finally zeroed in on YES which offers 6% on balance above 1 lac. It is well established and has one of the most healthy balance sheets in the country right now. It seems secure enough to deposit my savings.
I was also in same dilemma and took same step. Opened account in yes bank, account is YesFirst account so no hassles of ever visiting bank brnch, these people come to my home to pick up cheques, to give DD and any banking need that I can think of. Wish I had known about yes first earlier, would have saved me struggles of using SBI
How much did u give initially to open the yes first account? And what about minimum balance?
gave 5L for opening and was tolad same was to be kept as min balance
I am not going to do that. I will go for a normal account once they visit me. Don’t want to tie up 5 lacs as AMB even though I will will keep more than that in the account. Are there any problems with interest payment?
Tmb bank is better no charges for neft or imps
Fincare SFB. Zero Balance Digital Account. And 9% Interest of FD.
Kotak 811