Reserve Bank of India increased the repo rate gradually in a way. In the end, both lenders in the private and public sectors raised their lending rates. After increasing this rate amount, they are now also increasing the interest rate on savings accounts. Learn about the latest interest rate that banks offer by scrolling ahead.
It is worth noting that the State Bank of India
has various savings accounts that cater to various levels of customers. Such as Yuva Savings Bank Accounts, and Savings Plus Accounts. SBI Savings Accounts provide an interest rate of 2.7 percent p.a.
Based on the resident’s condition
Kotak Mahindra Bank offers various types of accounts for savings. Account holders who are not only residents but also non-residents are subject to a interest rate that is ranging between 3.5 percent p.a. and up to 4 percent p.a.
Citibank provides its customers
with an array of account that includes Citibank Savings Account, Citibank Suvidha Salary Account, Citibank for expatriates, and others. Citibank is among many of the best-known banks from abroad that operate in India. are provided by Citibank at a rate that is 2.50 percent p.a. This is charged on the balance that is kept daily and is credited twice per year.
Axis Bank
one of the most prominent financial institutions in India offers a variety of accounts that are designed to meet the various needs of consumers. Axis Bank offers interest rates on all its accounts which begin at 3.00 percent per year and rise to 3.50 percent per year.
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