New Delhi: In the past few years, interest rates on FDs have come down very rapidly. This created problems for investors who have been putting their money in FDs for years. The problem is that such investors are no longer getting the returns they used to get. In fact, people invest in FDs, so that there is no risk and they do not have to worry much. Whereas in the stock market or mutual fund, there is also risk and you have to pay attention to many things too. Hence FD investors have less options. But there is also an option in less options, from which they can earn more interest than FD. Also their money will be safe. This option is Savings Account.
Higher interest on savings account
FD investors have the option of investing in a savings account. You must be wondering that from where will you get more interest than FD on Savings Account. But some banks are currently offering higher rates on savings accounts than FDs. We will give you information about those banks here. Also, we will tell you how much interest you can get in these banks.
Interest will be available up to 7 percent
Banks where savings accounts are earning more than 7 per cent interest include AU Small Finance Bank, Equitas Small Finance Bank and Ujjivan Small Finance Bank. Apart from this, interest up to 6.25 percent is also being given in RBL Bank, Yes Bank and Bandhan Bank. Know how much interest is getting in which bank.
AU Small Finance Bank and Ujjivan Small Finance Bank
AU Small Finance Bank is getting up to 7 percent interest. But to get this interest, you should have at least Rs 25 lakh in your bank account. At the same time, the maximum interest rate in Ujjivan Small Finance Bank is 6.75 percent.
Equitas Small Finance Bank
Equitas Small Finance Bank is also offering up to 7 per cent interest rate on savings account. You don’t even have to put a lot of money into it. If your balance is more than Rs 1 lakh then you will get 7 percent interest.
Know the interest rates of other banks
In RBL Bank, customers are being given interest ranging from 4.5 percent to 6.25 percent. Similarly, interest from 4 to 5.5 percent is being given on the savings account in Yes Bank. Lastly, if we talk about Bandhan Bank, then this bank is also offering interest ranging from 3 to 6 percent. At the same time, State Bank of India (SBI) is currently giving interest at the rate of 5.0 percent per annum on one-year FDs. Punjab National Bank (PNB) is currently offering interest at the rate of 5.10 per cent per annum on one-year FDs. HDFC Bank is currently giving 4.90 percent annual interest on one year FDs. HDFC Bank is currently giving 4.90 percent annual interest on one year FDs.