Private banks paying 6.5% on Savings Accounts.

Since the interest rates on fixed deposits have fallen, more individuals are placing their money in savings accounts since the rates there are better than those on FDs. It is possible to deposit money, keep it secure, and withdraw monies from a savings account while receiving interest.

It is advantageous to have a savings account because of the liquidity, interest income, and safety of one's money, as well as the possibility of earning more money through the automatic sweep between a savings account and an FD. In both private and public sector banks, savings account options are available to customers. Small private banks compete with the likes of HDFC Bank and ICICI Bank by offering greater interest rates on savings accounts.

Top 5 Private Banks with the best Savings Rates:

DCB Bank:

DCB Bank provides savings accounts with interest rates of up to 6.5 percent. This bank has the best interest rates among private banks. Rs 2,500 to Rs 5,000 is the minimum balance.

Bandhan Bank

Bandhan Bank provides savings accounts with interest rates as high as 6%. Rs 5,000 is the monthly minimum balance requirement.

RBL Bank

RBL Bank is providing savings accounts with interest rates of up to 6%. The typical monthly balance requirement is between Rs 2,500 and Rs 5,000.

Yes Bank

Savings accounts can earn up to 5.25 percent interest. Between Rs 10,000 and Rs 25,000 is the average monthly amount needed for the account.

IndusInd Bank

Indusland Bank provides savings account customers with interest rates as high as 5%. . Similarly, IndusInd Bank's typical monthly balance requirement ranges from Rs 1,500 to Rs 10,000.

If you're looking for the best interest rates on savings accounts, you should look for a bank that has a long history, a vast network of branches, and ATMs in all major cities.