Which bank saving account interest rate is high

In India, savings account interest rates generally range from 2.70% to over 7% per annum. Small Finance Banks and certain private sector banks typically offer the highest rates to attract customers. These rates are influenced by RBI’s monetary policy and the specific balance tiers maintained in the account.

• Small Finance Banks often provide the highest returns, with rates reaching up to 7% or more on larger balances.
• New-age private banks offer competitive rates compared to traditional public sector banks.
• Interest is usually calculated on a daily product basis and credited quarterly.