Banks that offer good interest rates - Fusion - WeRIndia

Normally some people, especially businessmen keep huge amounts in their savings banks due to their business needs. They do not get good interest on these amounts since the daily balance in these accounts is fluctuating. Yet, some banks, specifically some private banks are offering good interest rates on these amounts. Here is a list of some private banks that offer the best interest rates to their customers on such amount.

RBL Bank savings account yields you an interest rate of 5.1 per cent for amount below Rs.1 lakh. If the amount exceeds Rs.1 Lakh, you can get an interest of 6.1 per cent and it is 7.1 per cent on balance above Rs.10 lakhs. TDS is not applicable up to the interest amount of Rs.10,000 per annum.

Yes Bank customers can get 6 per cent interest rate on the balance in their savings account. However, a minimum balance of Rs.10,000 should be maintained by the customers.

Kotak Bank also provides interest rate of 6 per cent to their customers. Customers can open an online bank account which is very simple and fast.

Lakshmi Vilas Bank offers interest of 5 per cent to their customers on balance below Rs.5 lakh in their saving bank accounts and 6 per cent if the amount exceeds it.

If you keep your daily balance up to Rs.10 lakhs, then open a savings bank account in IndusInd Bank. The bank offers 5 per cent interest on such balance. The interest rate is 6 per cent if the balance in savings bank exceeds Rs.10 lakh.
Bandhan Bank is the new private sector bank. The Bank offers interest rate of 4.25 per cent if the balance in savings bank account is under Rs.1 lakh. If your balance is above Rs. 1 lakh you will get an interest rate of 5 per cent.

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