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Savings Account Interest Rates across Banks - Updated October 2024

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Savings Account Interest Rates of RBI Scheduled Banks (DICGC Insured)
(in percentage %)

[As of October 6, 2024]

Public Sector Banks

Banks
Up to 1L
>1L to 5L
>5L to 10L
>10L to 25L
>25L to 50L
>50L to 1Cr
>1Cr to 10Cr
>10Cr
Updated
2.75​
2.75​
2.75​
2.75​
2.75​
2.75​
2.75​
2.75 - 4.50​
2.75​
2.90​
2.90​
2.90​
2.90​
2.90​
2.90​
2.90 - 3.10​
2.75​
2.75​
2.75​
2.75​
2.75​
2.75​
2.75​
2.75​
2.90​
2.90​
2.90​
2.90​
2.90​
2.90​
2.90 - 2.95​
3.05 - 4.00​
2.80​
2.80​
2.80​
2.80​
2.80​
2.80​
2.80​
3.00 - 3.25​
2.75​
2.75​
2.75​
2.80​
2.80​
2.80​
2.80​
2.80 - 2.90​
2.75​
2.75​
2.75​
2.75​
2.75​
2.75​
2.90​
2.90​
2.70​
2.70​
2.70​
2.70​
2.70​
2.70​
2.90​
2.90 - 5.00​
2.70​
2.70​
2.70​
2.75​
2.75​
2.75​
2.75​
2.75 - 3.00​
2.70​
2.70​
2.70​
2.70​
2.70​
2.70​
2.70​
3.00​
2.60​
2.60​
2.60​
2.75​
2.75​
2.75​
2.75​
2.75​
2.75​
2.75​
2.75​
2.75​
2.75​
2.90​
2.90​
2.90 - 4.20​

Private Sector Banks

Banks
Up to 1L
>1L to 5L
>5L to 10L
>10L to 25L
>25L to 50L
>50L to 1Cr
>1Cr to 10Cr
>10 Cr
Updated
3.00​
3.00​
3.00​
3.00​
3.00​
3.50​
3.50​
3.50​
3.00​
6.00​
6.00​
7.00​
7.00​
7.00​
7.00 - 6.25​
6.50 - 8.15​
2.10​
2.75​
2.75​
2.75​
3.50​
4.00​
4.25 - 5.00​
5.00 - 7.85​
3.00​
3.50​
3.50​
4.00​
4.00​
4.00​
4.00​
4.00 - 5.00​
1.75​
3.00​
5.00​
7.65​
7.75​
7.75​
8.00 - 7.25​
7.00 - 5.50​
3.00​
3.25​
3.75​
3.75​
3.75​
4.00​
4.00​
4.00​
3.00​
3.00​
3.00​
3.00​
3.00​
3.75​
3.75 - 5.50​
5.50 - 7.30​
3.00​
3.00​
3.00​
3.00​
3.00​
3.50​
3.50​
3.50​
3.00​
3.00​
3.00​
3.00​
3.00​
3.50​
3.50​
3.50​
3.00​
4.00​
6.00​
7.00​
7.00​
7.00​
7.00​
7.00​
04 Feb 25​
3.00​
3.00​
7.25​
7.25​
7.25​
7.25​
7.25​
7.25 - 3.50​
04 Feb 25​
2.90​
2.90​
2.90​
2.90​
2.90​
2.90​
2.90​
2.90​
2.75​
2.75​
2.75​
2.75​
2.75​
3.50​
4.50​
4.50​
2.25​
2.25​
2.50​
3.00​
3.00​
3.00​
3.25​
3.25​
3.50​
3.50​
3.50​
3.50​
3.50​
4.00​
4.00​
4.00​
2.85​
2.85​
2.85​
2.85​
2.85​
2.85​
2.85​
2.85​
3.25​
4.50​
5.50​
6.50​
7.50​
7.50​
7.50 - 6.25​
6.25 - 6.00​
04 Feb 25​
2.50​
2.50 - 2.75​
2.75​
2.75​
2.75​
2.75​
2.75 - 4.50​
4.50 - 6.00​
3.00​
3.00​
3.00​
3.25​
3.25​
3.25​
3.25​
3.25​
3.00​
4.00​
5.00​
7.00​
7.00​
7.00​
7.00​
7.00​
04 Feb 25​
2.75​
2.90​
3.00​
3.00​
3.00​
3.00​
3.00 - 3.25​
3.25 - 3.50​

Small Finance Banks (SFB)

Banks
Up to 1L
>1L to 5L
>5L to 10L
>10L to 25L
>25L to 50L
>50L to 1Cr
>1Cr to 10 Cr
>10Cr
Updated
3.00​
3.00 - 4.00​
5.00​
7.00​
7.00​
7.00​
7.25 - 7.00​
6.00 - 4.00​
3.50​
3.50​
3.50​
3.50​
3.50​
3.50​
3.50​
3.50​
3.00​
5.00​
5.00 - 7.00​
7.00​
7.00​
7.00​
7.00​
7.00 - 7.80​
3.00​
5.00​
7.25​
7.50​
7.50​
7.50​
7.50 - 7.75​
7.75​
3.25​
5.00​
7.25​
7.25​
7.50​
7.50​
7.50​
7.50​
Feb 20, 2025
4.00​
6.25​
7.50​
7.50​
7.50​
7.50​
7.50​
7.50 - 7.75​
3.50​
6.00​
7.50​
7.50​
7.50​
7.50​
7.50​
7.50 - 8.00​
2.50​
5.00​
6.50​
7.50​
7.50​
7.50​
7.50​
7.55​
6.25​
6.25​
6.25​
6.25​
6.25​
6.25​
6.25​
6.25​
08 Feb 25​
3.00​
3.50​
3.50​
4.00​
6.00​
6.50​
6.00​
6.00​
7.25​
7.50​
7.50​
7.50​
7.50​
7.50​
7.50​


I'll try to update the list quarterly so that it remains dynamic.
 
Last edited by Mr. BeanMr. Bean is verified member.:
Savings Account Interest Rates of RBI Scheduled Banks (DICGC Insured)
(in percentage %)

[As of October 6, 2024]

Public Sector Banks

Banks
Up to 1L
>1L to 5L
>5L to 10L
>10L to 25L
>25L to 50L
>50L to 1Cr
>1Cr to 10Cr
Above 10Cr
2.75​
2.75​
2.75​
2.75​
2.75​
2.75​
2.75​
2.75 - 4.50​
2.75​
2.90​
2.90​
2.90​
2.90​
2.90​
2.90​
2.90 - 3.10​
2.75​
2.75​
2.75​
2.75​
2.75​
2.75​
2.75​
2.75​
2.90​
2.90​
2.90​
2.90​
2.90​
2.90​
2.90 - 2.95​
3.05 - 4.00​
2.80​
2.80​
2.80​
2.80​
2.80​
2.80​
2.80​
3.00 - 3.25​
2.75​
2.75​
2.75​
2.80​
2.80​
2.80​
2.80​
2.80 - 2.90​
2.75​
2.75​
2.75​
2.75​
2.75​
2.75​
2.90​
2.90​
2.70​
2.70​
2.70​
2.70​
2.70​
2.70​
2.90​
2.90 - 5.00​
2.70​
2.70​
2.70​
2.75​
2.75​
2.75​
2.75​
2.75 - 3.00​
2.70​
2.70​
2.70​
2.70​
2.70​
2.70​
2.70​
3.00​
2.60​
2.60​
2.60​
2.75​
2.75​
2.75​
2.75​
2.75​
2.75​
2.75​
2.75​
2.75​
2.75​
2.90​
2.90​
2.90 - 4.20​

Private Sector Banks

Banks
Up to 1L
>1L to 5L
>5L to 10L
>10L to 25L
>25L to 50L
>50L to 1Cr
>1Cr to 10Cr
>10 Cr
3.00​
3.00​
3.00​
3.00​
3.00​
3.50​
3.50​
3.50​
3.00​
6.00​
6.00​
7.00​
7.00​
7.00​
7.00 - 6.25​
6.50 - 8.15​
2.10​
2.75​
2.75​
2.75​
3.50​
4.00​
4.25 - 5.00​
5.00 - 7.85​
3.00​
3.50​
3.50​
4.00​
4.00​
4.00​
4.00​
4.00 - 5.00​
1.75​
3.00​
5.00​
7.65​
7.75​
7.75​
8.00 - 7.25​
7.00 - 5.50​
3.00​
3.25​
3.75​
3.75​
3.75​
4.00​
4.00​
4.00​
3.00​
3.00​
3.00​
3.00​
3.00​
3.75​
3.75 - 5.50​
5.50 - 7.30​
3.00​
3.00​
3.00​
3.00​
3.00​
3.50​
3.50​
3.50​
3.00​
3.00​
3.00​
3.00​
3.00​
3.50​
3.50​
3.50​
3.00​
5.00​
6.00​
6.75​
6.75​
6.75​
6.75​
6.75​
3.00​
3.00​
7.25​
7.25​
7.25​
7.25​
7.25​
7.25 - 3.50​
2.90​
2.90​
2.90​
2.90​
2.90​
2.90​
2.90​
2.90​
2.75​
2.75​
2.75​
2.75​
2.75​
3.50​
4.50​
4.50​
2.25​
2.25​
2.50​
3.00​
3.00​
3.00​
3.25​
3.25​
3.50​
3.50​
3.50​
3.50​
3.50​
4.00​
4.00​
4.00​
2.85​
2.85​
2.85​
2.85​
2.85​
2.85​
2.85​
2.85​
3.50​
5.50​
5.50​
6.00​
7.50​
7.50​
7.50 - 6.25​
6.25 - 6.75​
2.50​
2.50 - 2.75​
2.75​
2.75​
2.75​
2.75​
2.75 - 4.50​
4.50 - 6.00​
3.00​
3.00​
3.00​
3.25​
3.25​
3.25​
3.25​
3.25​
3.00​
4.00​
5.00​
7.00​
7.00​
7.00​
7.00​
7.00​
2.75​
2.90​
3.00​
3.00​
3.00​
3.00​
3.00 - 3.25​
3.25 - 3.50​

Small Finance Banks

Banks
Up to 1L
>1L to 5L
>5L to 10L
>10L to 25L
>25L to 50L
>50L to 1Cr
>1Cr to 10 Cr
>10Cr
3.00​
3.00 - 4.00​
5.00​
7.00​
7.00​
7.00​
7.25 - 7.00​
6.00 - 4.00​
3.50​
3.50​
3.50​
3.50​
3.50​
3.50​
3.50​
3.50​
3.00​
5.00​
5.00 - 7.00​
7.00​
7.00​
7.00​
7.00​
7.00 - 7.80​
3.00​
5.00​
7.25​
7.50​
7.50​
7.50​
7.50 - 7.75​
7.75​
3.50​
5.00​
7.25​
7.25​
7.50​
7.50​
7.50​
7.50​
4.00​
6.25​
7.50​
7.50​
7.50​
7.50​
7.50​
7.50 - 7.75​
3.50​
6.00​
7.50​
7.50​
7.50​
7.50​
7.50​
7.50 - 8.00​
2.50​
5.00​
6.50​
7.50​
7.50​
7.50​
7.50​
7.55​
4.00​
4.00​
5.00​
5.00​
5.50​
5.50​
5.50​
7.00 - 6.00​
3.00​
3.50​
3.50​
4.00​
6.00​
6.50​
6.00​
6.00​
7.25​
7.50​
7.50​
7.50​
7.50​
7.50​
7.50​


I'll try to update the list quarterly so that it remains dynamic.
Excellent thread but requires more frequent updates.
 
Update and add Post Office Saving Bank interest rate.

There is no need. It's set in stone to be 4% since the stone age, and is likely to remain so till ..., since it's too much effort for them to tinker with it.

It's also too much effort for them sometimes to calculate and pay the correct interest one is entitled to.

And it is too much effort for them to even respond if someone has the temerity to complain!

So I have stopped bothering.
.
 
There is no need. It's set in stone to be 4% since the stone age, and is likely to remain so till ..., since it's too much effort for them to tinker with it.

It's also too much effort for them sometimes to calculate and pay the correct interest one is entitled to.

And it is too much effort for them to even respond if someone has the temerity to complain!

So I have stopped bothering.
.
Even closing PO account is too much irritation with them. They simply refuse to do it and tell you to come back later. Both my wife and mom have post office accounts and I feel like bashing my own head on the wall whenever I have to interact with them. Wife, for some reason has money coming there! WHY!! Got both of them new bank accounts nearby home recently.
 
Update: After failing to Verify Selfie for liveliness, I got a call from Unity SFB the next day. Some fellow guided me through the app again. He asked me what was the exact error message, and they did some override in the backend to pass a few errors I was getting in the app at every stage, and finally the selfie test for liveliness. My conclusion is their App works, but the whole system is not fully automatic. It is like Semi-Supervised Semi-Automatic process, whith a bunch of Broken APIs inbetween, but now I have an account with them. The account was opened with their Main branch in Mumbai. Today I got a call again from a loca bank employee, he asked me the customer id, which he said he will transfer to local branch. They are the Highest Interest paying bank on Savings account below 1 Lakh INR balance, apart from North-East Bank, but north-east bank is, guess what, only for north-east states. Unity SFB's app has basic banking functionality. UPI features are yet to be added to their App. I am waiting for the Debit card so that I can activate UPI and manage everything from PhonePe.
 
Update: After failing to Verify Selfie for liveliness, I got a call from Unity SFB the next day. Some fellow guided me through the app again. He asked me what was the exact error message, and they did some override in the backend to pass a few errors I was getting in the app at every stage, and finally the selfie test for liveliness. My conclusion is their App works, but the whole system is not fully automatic. It is like Semi-Supervised Semi-Automatic process, whith a bunch of Broken APIs inbetween, but now I have an account with them. The account was opened with their Main branch in Mumbai. Today I got a call again from a loca bank employee, he asked me the customer id, which he said he will transfer to local branch. They are the Highest Interest paying bank on Savings account below 1 Lakh INR balance, apart from North-East Bank, but north-east bank is, guess what, only for north-east states. Unity SFB's app has basic banking functionality. UPI features are yet to be added to their App. I am waiting for the Debit card so that I can activate UPI and manage everything from PhonePe.
Careful. Don't fall for high interest rates. This was previously a failed bank. Do your due diligence.
 
Careful. Don't fall for high interest rates. This was previously a failed bank. Do your due diligence.
Not that I am promoting any bank but this is factually incorrect. Unity SFB is not a failed bank. RBI per the intervention process (force) merged PMC bank with Unity. Just like it aligned YesBank with SBI and SBI bought a stake in Yesbank. This doesn't mean SBI is a failed bank. They were ordered by RBI to save Yesbank. RBI at any point in time can ask any healthy bank to take on a failing bank.
 
Update: After failing to Verify Selfie for liveliness, I got a call from Unity SFB the next day. Some fellow guided me through the app again. He asked me what was the exact error message, and they did some override in the backend to pass a few errors I was getting in the app at every stage, and finally the selfie test for liveliness. My conclusion is their App works, but the whole system is not fully automatic. It is like Semi-Supervised Semi-Automatic process, whith a bunch of Broken APIs inbetween, but now I have an account with them. The account was opened with their Main branch in Mumbai. Today I got a call again from a loca bank employee, he asked me the customer id, which he said he will transfer to local branch. They are the Highest Interest paying bank on Savings account below 1 Lakh INR balance, apart from North-East Bank, but north-east bank is, guess what, only for north-east states. Unity SFB's app has basic banking functionality. UPI features are yet to be added to their App. I am waiting for the Debit card so that I can activate UPI and manage everything from PhonePe.
But upi is working for my account seamlessly so far
 
Careful. Don't fall for high interest rates. This was previously a failed bank. Do your due diligence.
Yes, I am only keeping 1.5 lac or so in there, untill the money goes into SIPs and emergency expense. DICGC only gives insurance upto 5 lacs with any bank. So, it may be risky keeping more money than that. For more money, when I earn, I am thinking its better to have auto sweep in enabled bank account, where you get the FD interest rates on the excess amount.
 
That's not true. With its merger with slice we can now open bank account with NESFB digitally.
Oh, I did not know that. Thank you. I had a slice Credit card before, in 2021. They opened another 2-3 accounts/credit lines in my name without notifying. Hence I closed that card and all relationships with Slice.
 
But upi is working for my account seamlessly so far
I meant the UPI features inside the Unity SFB Application. Those are in development. I had to register in PhonePe for UPI using their Debit card that got delivered yesterday. UPI works from other apps like PhonePe, Gpay etc. seamlessly.
 
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