Last Updated: January 24, 2023, 16:10 IST
Savings accounts have traditionally been the preferred investment choice for new investors. Ideal candidates for a savings account are people with regular income from a salary or another source. This kind of account has a tonne of advantages that can assist one in starting their savings journey and building a portfolio of investments over time. The majority of banks in India provide the option of several types of savings accounts created to meet the needs of a wide range of clients.
Many banks in India provide their clients with the option of opening Savings Accounts. The following is a list of some of the biggest banks to accomplish this:
Kotak Mahindra Bank offers Savings Accounts for various customers depending on their residency status. Both domestic and non-resident holders of Savings Accounts are subject to an interest rate ranging from 3.50% p.a. to 4.00% p.a.
State Bank of India offers a variety of Savings Accounts aimed at various client levels, including Basic Savings Accounts, Savings Plus Accounts, Yuva Savings Bank Accounts, and more. The interest rate for SBI Savings Accounts is 2.70% p.a.
Citibank Savings Accounts: As one of the most well-known foreign banks operating in India, Citibank provides its clients with a variety of Savings Accounts, including the Citibank Savings Account, Citibank Suvidha Salary Account, Citibank Savings Account for Expatriates, and others. The bank offers a 2.50% p.a. interest rate 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 a variety of customer demands. On all of its savings accounts, Axis Bank offers interest rates starting at 3.00% pa and going up to 3.50% pa.
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