Saving Bank Account Interest Rates – April 2024

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In today’s dynamic financial landscape, choosing the right saving bank account can significantly impact your financial goals. To simplify this decision-making process, we’ve compiled a comprehensive comparison chart of interest rates offered by private sector banks, public sector banks, and foreign banks. But before diving into the numbers, let’s explore the world of saving bank accounts, their benefits, and essential precautions to consider.

Saving bank accounts serve as the cornerstone of personal finance, offering a safe and convenient way to manage your money. They provide liquidity, security, and modest returns on your deposits, making them an essential component of your financial portfolio.


  1. Liquidity: Saving accounts allow easy access to your funds, ensuring liquidity for your day-to-day expenses and emergencies.
  2. Safety: Your deposits in saving accounts are insured up to a certain limit, offering protection against unforeseen events or bank failures.
  3. Interest Earnings: While saving account interest rates may seem modest, they still offer a passive source of income on your idle funds.
  4. Convenience: With features like online banking, mobile apps, and ATM access, managing your saving account has never been more convenient.


  1. Minimum Balance Requirement: Be mindful of the minimum balance requirement to avoid penalties or additional charges.
  2. Fees and Charges: Familiarize yourself with the fees and charges associated with your saving account, such as ATM fees, transaction charges, or service fees.
  3. Interest Rates: Compare interest rates offered by different banks to ensure you’re getting the best return on your deposits.
  4. Fine Print: Always read the terms and conditions carefully, paying attention to any clauses regarding interest calculation, account closure, or promotional offers.

Saving Bank Account Interest Rates:

Kindly keep in mind below data is prepared while taking all precautions but you can also research if you desire.

Private Sector Banks

S. No.Bank NameLowest Saving Interest RateHighest Saving Interest RateLimit for Higher Saving Interest Rates
1Axis bank3.00%3.50%50 Lacs and up to less than Rs. 2000 Crs
2Bandhan bank3.00%6.50%Balance above Rs. 10 Crore to Rs. 50 Crore
3City Union Bank3.00%5.00%Rs.50 Lakh and above
4CSB Bank2.10%3.50%More than Rs.50 lakh
5DBS Bank3.00%7.00%Above Rs.4 Lakhs and Upto Rs.5 Lakhs
6DCB Bank1.75%8.00%Balance above Rs. 10 Lakh to Less than Rs. 2 Crore
7Federal Bank3.05%7.81%₹500 Crores and above
8HDFC Bank3.00%3.50%Of and Above Rs. 50 Lakh
9ICICI Bank3.00%3.50%balance of Rs. 50 lakh and above
10IDFC First Bank3.00%7.00%<=1 Lac
11Indusind Bank3.50%6.75%balance above Rs. 50 Crs Upto Rs. 100 Crs
12Jammu&Kashmir Bank2.70%7.60%
13Karur Vysya Bank2.25%3.25%Balance Rs.1Crore up to less than Rs.100 Crore
14Kotak Mahindra Bank3.50%4.00%Above Rs. 50 lakh and up to Rs 50 crore
15Nainital Bank6.75%
16RBL Bank4.25%7.50%Above INR 25 lakh and upto INR 2 Crore
17SBM Bank india3.50%5.00%Balance above INR. 5 Lakh upto 5 Crs
18South Indian Bank2.50%6.00%Rs. 25.00 crore and above
19Tamilnad Mercantile Bank3.00%3.25%Balance above Rs. 10 lakh
20Yes Bank3.00%7.00%Rs.10 lacs and above to less than Rs.100 Crores

Public Sector Banks:

S. No.Bank NameLowest Saving Interest RateHighest Saving Interest RateLimit for Higher Saving Interest Rates
1Bank of Baroda2.75%3.35%Rs.1,000 Crore and above
2Bank of India2.75%2.90%Above Rs. 1 lakh
3Bank of maharashtra3.50%4.00%More than Rs. 25 lakhs
4Canara Bank2.90%4.00%Balance of Rs. 2000 Cr & above
5Central Bank of India2.90%3.30%Above Rs. 1000 Crore
6Indian Bank2.75%2.90%Rs. 200 Cr and above
7Indian Overseas Bank2.75%2.90%Balance Above Rs. 25 Lacs upto Rs. 1 Crore
8Punjab National Bank2.70%3.00 %Balance of Rs.100 Crore & above
9punjab and Sind Bank2.70%5.00%Above 500 Crore
10State Bank of India2.70%3.00%Balances Rs. 10 Crore & Above
11Union bank of India2.75%4.00%Above RS 1000 crores

Foreign Banks

S. No.Bank NameLowest Saving Interest RateHighest Saving Interest RateLimit for Higher Saving Interest Rates
1Citi Bank2.50%
2HSBC India Limited2.00%2.50%balances up to INR10 Cr
3The Deutsche Bank2.70%7.60%
4DBS Financial3.25%7.00%Above Rs.4 Lakhs and Upto Rs.5 Lakhs
5Standerd Chartered Bank2.75%4.00%Above Rs. 40 Cr

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Pooja Gupta

CA Pooja Gupta (CA, ISA, having 15 years of experience. Educator and Digital Creator

Disclaimer:- The opinions presented are exclusively those of the author and CA Guruji Classes. The material in this piece is intended purely for informational purposes and for individual, non-commercial consumption. It does not constitute expert guidance or an endorsement by any organization. The author, the organization, and its associates are not liable for any form of loss or harm resulting from the information in this article, nor for any decisions made based on it. Furthermore, no segment of this article or newsletter should be employed for any intention unless granted in written form, and we maintain the legal right to address any unauthorized utilization of our article or newsletter.

CA Pooja Gupta (CA, ISA, having 15 years of experience. Educator and Digital Creator

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