Interest Rate on Savings Account: Fixed Deposit (FD) has been a popular investment option in banks. It has been considered a safe and better option for investment. But the interest rates of FD have been decreasing continuously for some time now. If you make FD in big banks, then you will get an interest rate of 5-6 percent. That’s why today we are telling you about those small banks which are giving more interest than FD on the savings account itself. Small banks offer attractive interest rates on savings accounts to add new retail customers.
If your money is deposited in a savings account and the bank is also giving good interest for it, then this is a double benefit for you. Unlike FD in savings account, your money is not deposited for a fixed period, rather you can withdraw your money whenever you want from the branch or ATM. Know about those banks which are giving more interest than FD on savings account: –
Suryoday Small Finance Bank
- This bank is offering an interest rate of up to 6.25 percent on the savings account.
- It is necessary to maintain an average monthly balance of Rs 2,000 in a savings account with this bank.
- This bank is offering an interest rate of up to 6.5 percent on the savings account.
- The minimum balance to be maintained in the savings account of this bank is Rs 2,500 to Rs 5,000.
Equitas Small Finance Bank
- This bank is offering you an interest rate of up to 7 percent on the savings account.
- The average monthly balance required in the savings account should be in the range of Rs 2,500 to Rs 10,000.
AU Small Finance Bank
- AU Small Finance Bank is offering up to 7 percent interest on savings account
- The average monthly balance in the savings account should be in the range of Rs 2,000 to Rs 5,000.
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