10 Banks with Highest Interest Rates in India

By SiliconIndia   |   Tuesday, March 19, 2013   |    12 Comments
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Bangalore: In December 2012, Competition Commission of India decided to take a look at the banking sector of India. Most of the public sector banks offer common 4 percent interest rates even though the Reserve Bank of India moved to an unregulated regime in October 2011. For banks, current accounts (CA) and savings accounts (SA) are the steadiest and cheapest source of funds. Banks usually target at least 30 percent of their total deposits from CA and SA. While maximum of the Indian population choose to keep their money in the savings account (SA), read on to know few popular banks with their current savings accounts interest rates on yearly basis.

1. Yes Bank
Savings Account Interest Rate: 6 percent

Yes Bank is a private bank in India. It was founded by Ashok Kapur and Rana Kapoor, with the duo holding a collective financial stake of 27.16 percent. The bank provides a higher return of 7 percent p.a. on Savings Account for balance more than Rs.1 lakh & 6 percent p.a. for balance up to Rs.1 lakh.

YES BANK has received significant national and international recognitions which include Dr. Rana Kapoor, Founder, MD & CEO being recognized as the Entrepreneurial Banker of the Decade 2001-2010 by Bombay Management Association and was also Business Standard Banker of the Year 2011.

2. Kotak Mahindra
Savings Account Interest Rate: 6 percent

Kotak Mahindra is an Indian financial service firm established in 1985. It was previously known as Kotak Mahindra Finance Limited, a non-banking financial company. From 1st November, 2011, the bank offers 6.0 percent interest p.a. on Savings Account balance over Rs. 1.lakh and 5.5 percent p.a. on balance up to Rs.1 lakh. In February 2003, Kotak Mahindra Finance Ltd, the group's flagship company was given the license to carry on banking business by the Reserve Bank of India (RBI).

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Reader's comments(12)
1: am work with bank ,now the time axis a/c providing 0 bal. a/c with 6.75% roi if some 1 interest contact me..
Posted by:utkarsh - 07 Feb, 2018
2: Is any bank is giving interest on current account
Posted by:sucheer - 09 Jun, 2017
3: Hello
Posted by:AAAAA - 10 Aug, 2016
4: citibank only offers 4% p.a
Posted by:blaze - 07 Sep, 2014
Posted by:PRONOTOSH - 13 Apr, 2014
RBL Bank Ltd. (Formerly: The Ratnakar Bank Ltd) offers Interest Rates 7.1%*p.a. on Savings Account.
Swapnali Replied to: - 28 Nov, 2015
I guess this % only applicable if you have more than 1 Crore in your account.

Terms and conditions apply
Bank offers savings account interest rates @ 7.50% p.a. on balances > Rs. 1 Cr. upto Rs. 5 Cr. ; 7.10% p.a. on balances > Rs. 50 Lac upto Rs. 1 Cr. ; 7.00 % p.a. on balances > Rs. 10 Lac upto Rs. 50 Lac ; 6.10% p.a. on balances > Rs. 1 Lac and upto Rs. 10 Lac and 5.10 % p.a. on balances upto Rs. 1 Lac on a daily balance basis. For balances above Rs. 5 Cr., please get in touch with your Relationship Manager / Branch Manager. These rates will apply on the entire balances above Rs. 1 Lac, as per the above slabs and the initial Rs. 1 Lac balance will earn interest at the rate of 5.10 % p.a.
*** Subject to locker availability
Ashok Replied to: - 01 Nov, 2016
lakshmi vilas bank. 9.25 for normal and 9.45 for senior citizens
Ravi Replied to: - 18 Sep, 2014
I am interested in your 9.3/4 % interest my age is 75 years old .
Ingrid sievert Replied to: - 03 Oct, 2016
RBL Bank Ltd. (Formerly: The Ratnakar Bank Ltd) offers Interest Rates 7.1%*p.a. on Savings Account.
Swapnali Replied to: - 28 Nov, 2015
11: lokmangal Multistate co-op society also have a best interest rate on FD (12 % )
Posted by:kethki - 01 May, 2013
Am I correct that you your interest rate is 12% on savings. Can I have more details as
to what type of savings and period of saving. Thanks.
Theresa Cogger Replied to: - 24 Feb, 2016
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