Looking for a place to park your money that will still fetch you decent returns? Look no further! Here are the top 6 Savings Bank Accounts of 2019.
With Savings Account interest rates falling in recent times, people all over the country are looking for a place to park their hard-earned money that will still fetch them decent returns. Whether you’re looking to shift your money to another bank or just looking to open up a Savings Account that will give you a slew of benefits, you’ve come to the right place.
Sure, you could invest your money in investments like Mutual Funds or Fixed Deposits for example, but if you’re one of those pragmatic types, then putting your money in a good Savings Account should be a top priority.
Additional Reading: Savings Account Rates Are Falling. What Can You Do?
So, without further ado, here are the top 6 Savings Bank Accounts of 2019 that will certainly give you bang for your buck in more ways than one.
RBL Bank is one of India’s fastest growing scheduled commercial banks. It offers a slew of Savings Accounts that can be customised as per a customer’s needs and requirements. Some of the advantages of opening a Savings Account with RBL are high-interest rates, locker facility discounts, and insurance coverage.
Interest earned on the Savings Account balances are credited to the customer’s account on a half-yearly basis. The interest rates offered by RBL bank are as follows:
| Savings Account Balance | Rate of Interest Per Annum |
| Above Rs. 10 lakhs | 6.05% |
| Between Rs. 1 lakh and Rs. 10 lakhs | 6.0% |
| Up to Rs. 1 lakh | 5.50% |
YES Bank is India’s fifth largest private sector bank and offers a wide range of Savings Accounts that allow customers to choose the benefits and features that will suit them the most. YES Bank Savings Accounts offer attractive interest rates along with a variety of digital banking services through their banking website as well as their mobile app.
The interest rates offered by YES Bank on their Savings Accounts are as follows:
| Savings Account Balance | Rate of Interest Per Annum |
| Up to Rs. 1 lakh | 5% |
| Between Rs. 1 lakh and Rs. 1 crore | 6% |
| Above Rs. 1 crore | 6.25% |
Kotak Mahindra Bank offers Savings Accounts at competitive interest rates that fetch customer’s good returns with minimal effort and low risk. These Savings Accounts also come with a range of banking services such as cash pick-up and delivery and cheque or DD delivery.
The interest rates offered by Kotak Mahindra Bank on their Savings Accounts are as follows:
| Savings Account Balance | Rate of Interest Per Annum |
| Up to Rs. 1 lakh | 5% |
| Between Rs. 1 lakh and Rs. 1 crore | 6% |
| Between Rs. 1 crore and Rs. 5 crores | 5.5% |
IndusInd Bank is one of India’s leading private banks with branches all over the country. Its Savings Account schemes cater to a wide range of customers from all financial backgrounds. It offers customers a variety of facilities and benefits making it extremely convenient for them to access their Savings Account with ease.
The interest rates offered by IndusInd Bank on their Savings Accounts are as follows:
| Savings Account Balance | Rate of Interest Per Annum |
| Up to Rs. 10 lakhs | 4% |
| Between Rs. 10 lakhs and Rs. 1 crore | 5% |
| Between Rs. 1 crore and Rs. 10 crores | 5.50% |
Bandhan Bank offers customers a wide range of financial products and services, of which their Savings Account schemes are amongst the most popular due to their attractive rates of interest and ease of operation.
The interest rates offered by Bandhan Bank on their Savings Accounts are as follows:
| Savings Account Balance | Rate of Interest Per Annum |
| Up to Rs. 1 lakh | 4% |
| Above Rs. 1 lakh up to Rs. 10 crores | 6% |
One of the most popular and widespread banks in India, HDFC’s Savings Account schemes come with a host of unique features and benefits, which can be accessed by customers quickly and conveniently. The bank provides world-class banking services and facilities, and customers can choose a Savings Account scheme that best suits their financial requirements.
The interest rates offered by HDFC Bank on their Savings Accounts are as follows:
| Savings Account Balance | Rate of Interest Per Annum |
| Below Rs. 50 lakhs | 4% |
| Above Rs. 50 lakhs | 4% |
Additional Reading: Money Lying In A Savings Account?
There you have it! If you’re one of those extremely cautious and risk-averse individuals looking to build up your savings then you can’t go wrong with these Savings Accounts.
In the meantime, take a gander at some of our amazing Credit Card offers as well. We’re sure you’ll find something that will be right up your alley!