Last updated: January 24, 2023, 4:10 PM IST
Savings accounts have traditionally been the investment choice of choice for new investors. Ideal candidates for a savings account are those with a steady income from a paycheck or other source. This kind of account has a ton of benefits that can help someone start their savings journey and build an investment portfolio over time. Most banks in India offer the option of creating different types of savings accounts to meet the needs of a wide range of customers.
Many banks in India offer their customers the option to open savings accounts. The following is a list of some of the largest banks to achieve this:
Kotak Mahindra Bank offers savings accounts for different customers depending on their residency status. Both domestic and non-resident savings account holders are subject to an interest rate ranging from 3.50% per annum to 4.00% per annum
State Bank of India offers a variety of savings accounts aimed at different levels of customers, including basic savings accounts, savings accounts plus, Yuva savings bank accounts and more. The interest for SBI Savings Accounts is 2.70% per annum
Citibank Savings Accounts: As one of the most famous foreign banks operating in India, Citibank offers its customers various savings accounts including Citibank Savings Account, Citibank Suvidha Salary Account, Citibank Expat Savings Account and others. The bank offers an interest of 2.50% per annum on these savings accounts, which is collected on the daily balance held and credited twice a year.
Axis Bank Savings Account Interest Rate: As one of India’s top financial institutions, Axis Bank offers a variety of savings accounts tailored to the different requirements of customers. Axis Bank offers interest rates from 3.00% per annum to 3.50% per annum on all its savings accounts.
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