The interest on the savings account is credited to your account at monthly or quarterly intervals as per the rules of the bank. How much interest will be available on the savings account depends on the bank. Senior citizens get the highest interest on FD. They do not get this benefit on savings account. Let us know how much interest SBI, ICICI Bank, HDFC Bank, PNB, Canara Bank are paying on savings account.

Interest rate on SBI Savings Account (SBI Saving Account interest rate)

The interest rate is 2.70 per cent on savings account up to Rs 10 crore and 3 per cent on balance above Rs 10 crore.

HDFC Savings Account

HDFC Bank’s savings account offers 3% interest if the balance is up to Rs 50 lakh. The interest is 3.50 per cent on balance above Rs 50 lakh.

ICICI Bank Savings Account

At the end of a day, the interest rate will be 3 percent on balance less than Rs 50 lakh. Balance above Rs 50 lakh at the end of the day will attract an interest rate of 3.5 per cent.

Punjab National Bank

Punjab National Bank gives 2.70% interest rate on balance less than Rs 10 lakh. 2.75 percent interest is available on account balance of less than Rs 10 lakh to Rs 100 crore. PNB gives 3% interest on accounts of Rs 100 crore and above.

Canara Bank Savings Account

Canara Bank is paying interest between 2.90 percent to 4 percent on the savings account. 4% interest will be given on having a balance of Rs 2000 crore.

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However, after the introduction of monetary policy, it has been normal for banks to change the interest rates of FDs and loans etc. So here we are going to tell you about the top-5 private banks of the country which are now giving good returns on FDs.

Banks generally offer FD schemes for a period ranging from 7 days to 10 years. Here you are going to tell about the FD interest rates of top-5 private banks. This includes HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank and Yes Bank.

Private Banks and their FD Interest Rates

Private banks also offer FD schemes ranging from 7 days to 10 years. FD interest rates of banks are as follows…

1. HDFC Bank: 3 to 7.25 percent interest is available on FD in the country’s largest private bank. The highest interest is 7.25 percent on FD of 4 years 7 months. At the same time, good interest is offered on FDs up to a period of 10 years. The maximum interest on FD for senior citizens is 7.75 percent.
2. ICICI Bank: The interest on FD in this bank ranges from 3 percent to 7.10 percent. The highest interest is available for a period of more than 15 months but less than 2 years. Senior citizens get 0.50 percent more interest than the common people.
3. Axis Bank: FD interest rates in Axis Bank, another private sector bank, range from 3.50 percent to 7.10 percent. The highest interest is available on FDs of more than 13 months but less than one and a half years i.e. 18 months. Senior citizens are offered interest of up to 0.50 percent. These new rates have remained the same since May 18.
4. Yes Bank: Yes Bank is offering FD interest ranging from 3.25 percent to 7.75 percent on FD to its customers. While senior citizens are getting interest up to 0.50 percent more than this. Bank’s FD of more than 18 months but less than 36 months gives the highest interest.
5. Kotak Mahindra Bank: The FD interest rate in this bank starts from 2.75 percent and goes up to 7.20 percent at the top level. The bank gives the highest interest on FD schemes with a tenure of 390 days or more but less than 2 years.

The post Fixed Deposit Rate: Private banks are also giving good returns on FDs, this is the interest rates of top-5 banks first appeared on Rightsofemployees.com.