Savings Account Interest Rates across Banks - Updated October 2024

lostwords · Nov 5, 2023

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
Bank of Baroda	2.75	2.75	2.75	2.75	2.75	2.75	2.75	2.75 - 4.50
Bank of India	2.75	2.90	2.90	2.90	2.90	2.90	2.90	2.90 - 3.10
Bank of Maharashtra	2.75	2.75	2.75	2.75	2.75	2.75	2.75	2.75
Canara Bank	2.90	2.90	2.90	2.90	2.90	2.90	2.90 - 2.95	3.05 - 4.00
Central Bank of India	2.80	2.80	2.80	2.80	2.80	2.80	2.80	3.00 - 3.25
Indian Bank	2.75	2.75	2.75	2.80	2.80	2.80	2.80	2.80 - 2.90
Indian Overseas Bank	2.75	2.75	2.75	2.75	2.75	2.75	2.90	2.90
Punjab & Sind Bank	2.70	2.70	2.70	2.70	2.70	2.70	2.90	2.90 - 5.00
Punjab National Bank	2.70	2.70	2.70	2.75	2.75	2.75	2.75	2.75 - 3.00
State Bank of India	2.70	2.70	2.70	2.70	2.70	2.70	2.70	3.00
UCO Bank	2.60	2.60	2.60	2.75	2.75	2.75	2.75	2.75
Union Bank of India	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
Axis Bank	3.00	3.00	3.00	3.00	3.00	3.50	3.50	3.50
Bandhan Bank	3.00	6.00	6.00	7.00	7.00	7.00	7.00 - 6.25	6.50 - 8.15
CSB Bank	2.10	2.75	2.75	2.75	3.50	4.00	4.25 - 5.00	5.00 - 7.85
City Union Bank	3.00	3.50	3.50	4.00	4.00	4.00	4.00	4.00 - 5.00
DCB Bank	1.75	3.00	5.00	7.65	7.75	7.75	8.00 - 7.25	7.00 - 5.50
Dhanlaxmi Bank	3.00	3.25	3.75	3.75	3.75	4.00	4.00	4.00
Federal Bank	3.00	3.00	3.00	3.00	3.00	3.75	3.75 - 5.50	5.50 - 7.30
HDFC Bank	3.00	3.00	3.00	3.00	3.00	3.50	3.50	3.50
ICICI Bank	3.00	3.00	3.00	3.00	3.00	3.50	3.50	3.50
Induslnd Bank	3.00	4.00	6.00	7.00	7.00	7.00	7.00	7.00	04 Feb 25
IDFC First Bank	3.00	3.00	7.25	7.25	7.25	7.25	7.25	7.25 - 3.50	04 Feb 25
Jammu & Kashmir Bank	2.90	2.90	2.90	2.90	2.90	2.90	2.90	2.90
Karnataka Bank	2.75	2.75	2.75	2.75	2.75	3.50	4.50	4.50
Karur Vysya Bank	2.25	2.25	2.50	3.00	3.00	3.00	3.25	3.25
Kotak Mahindra Bank	3.50	3.50	3.50	3.50	3.50	4.00	4.00	4.00
Nainital Bank	2.85	2.85	2.85	2.85	2.85	2.85	2.85	2.85
RBL Bank	3.25	4.50	5.50	6.50	7.50	7.50	7.50 - 6.25	6.25 - 6.00	04 Feb 25
South Indian Bank	2.50	2.50 - 2.75	2.75	2.75	2.75	2.75	2.75 - 4.50	4.50 - 6.00
Tamilnadu Mercantile Bank	3.00	3.00	3.00	3.25	3.25	3.25	3.25	3.25
YES Bank	3.00	4.00	5.00	7.00	7.00	7.00	7.00	7.00	04 Feb 25
IDBI Bank	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
Au SF Bank	3.00	3.00 - 4.00	5.00	7.00	7.00	7.00	7.25 - 7.00	6.00 - 4.00
Capital SF Bank	3.50	3.50	3.50	3.50	3.50	3.50	3.50	3.50
Equitas SF Bank	3.00	5.00	5.00 - 7.00	7.00	7.00	7.00	7.00	7.00 - 7.80
Suryoday SF Bank	3.00	5.00	7.25	7.50	7.50	7.50	7.50 - 7.75	7.75
Ujjivan SF Bank	3.25	5.00	7.25	7.25	7.50	7.50	7.50	7.50	Feb 20, 2025
Utkarsh SF Bank	4.00	6.25	7.50	7.50	7.50	7.50	7.50	7.50 - 7.75
ESAF SF Bank	3.50	6.00	7.50	7.50	7.50	7.50	7.50	7.50 - 8.00
Jana SF Bank	2.50	5.00	6.50	7.50	7.50	7.50	7.50	7.55
North East SF Bank	6.25	6.25	6.25	6.25	6.25	6.25	6.25	6.25	08 Feb 25
Shivalik SF Bank	3.00	3.50	3.50	4.00	6.00	6.50	6.00
Unity SF Bank	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.

2025 · Feb 2, 2025

lostwords said:
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
Bank of Baroda
2.75
2.75
2.75
2.75
2.75
2.75
2.75
2.75 - 4.50
Bank of India
2.75
2.90
2.90
2.90
2.90
2.90
2.90
2.90 - 3.10
Bank of Maharashtra
2.75
2.75
2.75
2.75
2.75
2.75
2.75
2.75
Canara Bank
2.90
2.90
2.90
2.90
2.90
2.90
2.90 - 2.95
3.05 - 4.00
Central Bank of India
2.80
2.80
2.80
2.80
2.80
2.80
2.80
3.00 - 3.25
Indian Bank
2.75
2.75
2.75
2.80
2.80
2.80
2.80
2.80 - 2.90
Indian Overseas Bank
2.75
2.75
2.75
2.75
2.75
2.75
2.90
2.90
Punjab & Sind Bank
2.70
2.70
2.70
2.70
2.70
2.70
2.90
2.90 - 5.00
Punjab National Bank
2.70
2.70
2.70
2.75
2.75
2.75
2.75
2.75 - 3.00
State Bank of India
2.70
2.70
2.70
2.70
2.70
2.70
2.70
3.00
UCO Bank
2.60
2.60
2.60
2.75
2.75
2.75
2.75
2.75
Union Bank of India
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
Axis Bank
3.00
3.00
3.00
3.00
3.00
3.50
3.50
3.50
Bandhan Bank
3.00
6.00
6.00
7.00
7.00
7.00
7.00 - 6.25
6.50 - 8.15
CSB Bank
2.10
2.75
2.75
2.75
3.50
4.00
4.25 - 5.00
5.00 - 7.85
City Union Bank
3.00
3.50
3.50
4.00
4.00
4.00
4.00
4.00 - 5.00
DCB Bank
1.75
3.00
5.00
7.65
7.75
7.75
8.00 - 7.25
7.00 - 5.50
Dhanlaxmi Bank
3.00
3.25
3.75
3.75
3.75
4.00
4.00
4.00
Federal Bank
3.00
3.00
3.00
3.00
3.00
3.75
3.75 - 5.50
5.50 - 7.30
HDFC Bank
3.00
3.00
3.00
3.00
3.00
3.50
3.50
3.50
ICICI Bank
3.00
3.00
3.00
3.00
3.00
3.50
3.50
3.50
Induslnd Bank
3.00
5.00
6.00
6.75
6.75
6.75
6.75
6.75
IDFC First Bank
3.00
3.00
7.25
7.25
7.25
7.25
7.25
7.25 - 3.50
Jammu & Kashmir Bank
2.90
2.90
2.90
2.90
2.90
2.90
2.90
2.90
Karnataka Bank
2.75
2.75
2.75
2.75
2.75
3.50
4.50
4.50
Karur Vysya Bank
2.25
2.25
2.50
3.00
3.00
3.00
3.25
3.25
Kotak Mahindra Bank
3.50
3.50
3.50
3.50
3.50
4.00
4.00
4.00
Nainital Bank
2.85
2.85
2.85
2.85
2.85
2.85
2.85
2.85
RBL Bank
3.50
5.50
5.50
6.00
7.50
7.50
7.50 - 6.25
6.25 - 6.75
South Indian Bank
2.50
2.50 - 2.75
2.75
2.75
2.75
2.75
2.75 - 4.50
4.50 - 6.00
Tamilnad Mercantile Bank
3.00
3.00
3.00
3.25
3.25
3.25
3.25
3.25
YES Bank
3.00
4.00
5.00
7.00
7.00
7.00
7.00
7.00
IDBI Bank
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
Au SF Bank
3.00
3.00 - 4.00
5.00
7.00
7.00
7.00
7.25 - 7.00
6.00 - 4.00
Capital SF Bank
3.50
3.50
3.50
3.50
3.50
3.50
3.50
3.50
Equitas SF Bank
3.00
5.00
5.00 - 7.00
7.00
7.00
7.00
7.00
7.00 - 7.80
Suryoday SF Bank
3.00
5.00
7.25
7.50
7.50
7.50
7.50 - 7.75
7.75
Ujjivan SF Bank
3.50
5.00
7.25
7.25
7.50
7.50
7.50
7.50
Utkarsh SF Bank
4.00
6.25
7.50
7.50
7.50
7.50
7.50
7.50 - 7.75
ESAF SF Bank
3.50
6.00
7.50
7.50
7.50
7.50
7.50
7.50 - 8.00
Jana SF Bank
2.50
5.00
6.50
7.50
7.50
7.50
7.50
7.55
North East SF Bank
4.00
4.00
5.00
5.00
5.50
5.50
5.50
7.00 - 6.00
Shivalik SF Bank
3.00
3.50
3.50
4.00
6.00
6.50
6.00

Unity SF Bank
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.

Shiv · Feb 2, 2025

Update and add Post Office Saving Bank interest rate.

6ix9ine · Feb 3, 2025

Bhaskar said:
Does bob not give interest on savings account? I have not received any interest for quarter ending Dec 24.

I got my interest few days ago, check yours.

Mr. Bean · Feb 4, 2025

6ix9ine said:
I got my interest few days ago, check yours.

Screenshot 2025-02-04 at 6.54.51 AM.webp

I got it too on Feb 2, 2025.

Trust Me · Feb 4, 2025

Shiv said:
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.
.

KGF · Feb 4, 2025

Trust Me said:
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.

Raavan · Feb 4, 2025

lostwords said:
North East SF Bank

@lostwords last updated on 19 December, 6.5% flat interest rate for this bank.

I have updated it.

dvader · Feb 4, 2025

Pradumya said:
@lostwords last updated on 19 December, 6.5% flat interest rate for this bank.

I have updated it.

I have updated for Indusind bank. Added an extra column at the end to indicate when a bank's entry was last updated by a member to get better insight into the data.

Edit: Updated for few other banks

Mr. Bean · Feb 9, 2025

Updated interest rate of North East SFB as per the message from Slice (a brand of NESFB)...

Your savings account interest rate is now 6.25% p.a., tracking 100% of the RBI repo rate. Effective Feb 8. For help: help@sliceit.com - slice

Emrys · Feb 11, 2025

NOOBY said:
View attachment 45003

but they are calling themselves "Digital-First" bank 🤣

1 year later, and their app still did not let me open a new account. Tried today, failed at liveliness checking of my Selfie. WTF !!

Emrys · Feb 13, 2025

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.

KGF · Feb 13, 2025

Emrys said:
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.

Raavan · Feb 13, 2025

Emrys said:
but north-east bank is, guess what, only for north-east states.

That's not true. With its merger with slice we can now open bank account with NESFB digitally.

dvader · Feb 13, 2025

KGF said:
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.

Rahul098 · Feb 13, 2025

Can you add dbs also

sarcasm99 · Feb 14, 2025

Emrys said:
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

Emrys · Feb 15, 2025

KGF said:
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.

Emrys · Feb 15, 2025

Pradumya said:
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.

Emrys · Feb 15, 2025

sarcasm99 said:
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.

Mr. Bean · Feb 20, 2025

SB base Interest rate is reduced from 3.50% to 3.25% on Ujjivan. So, updated the OP.

Savings Account Interest Rates across Banks - Updated October 2024

TF Select

TF Ace

TF Buzz

TF Legend

TF Ace

TF Legend

TF Select

TF Legend

TF Ace

TF Ace

TF Buzz

TF Buzz

TF Select

TF Legend

TF Ace

TF Select

Attachments

TF Select

TF Buzz

TF Buzz

TF Buzz

TF Ace

Similar threads