Best interest on savings account
Which bank gives the highest interest rate on saving accounts?
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Rates are not constant. Banks which need more deposits (aka more customers) will have higher rates. So you can look at some of the new/smaller banks. If you are looking to just park money in saving account for liquidity, better use the sweep deposit feature banks offer. Your money earns FD interest and these FD are automatically liquidated when the savings balance falls short.
Will check this out, thank you
Every banks run a promotion and there are 10-20 terms which you might need to meet to get that high saving
I did fd in equitas sfb with 8.5% rate of interest for 444 days with quarterly interest payout. Suggesting you to go for <5 lakhs fds in multiple sfb
Friend sent me a comparison on this few days back. The blended savings rate changes based on amount of capital you are planning to invest.
Savings interest rate comparison: https://docs.google.com/spreadsheets/d/1Gn-1dzBjCRFF7yxrWimhb8K4zh-c_BSaXZ1e_mIhXKU/edit#gid=439431746
At the moment, Fincare and Utkarsh are providing higher blended interest rates. RBI has a 5L insurance for savings bank accounts.
If you guys find any discrepancies, mention it here and i'll relay the feedback to him.
Fincare sfb, online account opening process
IDFC first