Savings Account Interest Rates across Banks - Updated October 2024

[lostwords]

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​	2.75​	2.75​	2.75​	2.75	2.75​	3.25​	3.25​	3.25​	12 April 2025
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​	2.75​	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​	6.00​	6.00​	6.00​	6.00​	6.00​	6.00​	6.00​	6.00​	10 April 2025
Shivalik SF Bank​	3.00​	3.50​	3.50​	4.00​	6.00​	6.50​	6.00​	​
Unity SF Bank​	4.50​	6.00​	7.00​	7.00​	7.00​	7.00​	7.00​	7.00​	2 Jul 2025

I'll try to update the list quarterly so that it remains dynamic.

 

[SHUB11]

Massive devaluation from RBL Bank

 

[SHUB11]

Guys any feedback on Unity Small Finance Bank? Is it safe to open savings account there

 

[2025]

Massive devaluation from RBL BankView attachment 95727

Also they will be paying monthly interest from May 2025. (Earlier was quarterly payouts)

 

[Mr. BeanMr. Bean is verified member.]

Guys any feedback on Unity Small Finance Bank? Is it safe to open savings account there

All banks are safe. But, please do not put all your eggs in one basket. Also, if you care about freezing, then go with a bank that has a nearby physical branch.

 

[sarcasm99]

Guys any feedback on Unity Small Finance Bank? Is it safe to open savings account there

So far good for me also branch is at walking distance from my home so no issue faced so far

 

[Humanbeing]

Received an email from Kotak now they have reduced the interest on saving accounts from 3.50 to 2.75 per annum in an amount upto 1 Lakh. Please update the thread.

 

[SHUB11]

So far good for me also branch is at walking distance from my home so no issue faced so far

How good is their digital interface ?
Mobile and net banking

 

[sarcasm99]

How good is their digital interface ?
Mobile and net banking

Mobile app is fine... Used so far only to check balance and create fd

UPI servers are also working as of now via third party ... Haven't used UPI via there app and net Banking

 

[Mr. BeanMr. Bean is verified member.]

Received an email from Kotak now they have reduced the interest on saving accounts from 3.50 to 2.75 per annum in an amount upto 1 Lakh. Please update the thread.

D o n e.

 

[Trust Me]

Many (most?) banks have revised their SB rates downwards. -- e.g. lowest rates for a few banks now:

Axis, ICICI, 2.75%

IndusInd, Bandhan, RBL, Ujjivan: slabs have been changed, starting from 3.00%.

Please have the table reflect the current rates.

Please also update the 'updated' Indicator in the header as appropriate (if all information in the table below doesn't conform to it, it shouldn't be there at all). Thanks.
.

 

[honspinach]

Equitas Small Finance Bank also devalued from 1st May.

 

[unicornking]

IDFC also reduced rates specifically for 5L to 10L bracket, ref: https://www.idfcfirstbank.com/personal-banking/accounts/savings-account/interest-rate

 

[Karthi52]

donno if it came actually, because now it shows 7 % from 5 lakhs

 

[abhishek]

Update Savings Account Interest Rate Cheat sheet June 2025!