Compare savings account rates across Indian banks. Higher rates available with small finance banks and digital banks.
| Bank ▼ | Type | Savings Rate ▼ | Senior Citizen ▼ |
|---|---|---|---|
| Kotak Mahindra Bank | Private | 3.50% | 3.50% |
| Kotak Mahindra Bank | Private | 3.50% | 3.50% |
| Axis Bank | Private | 3.00% | 3.00% |
| Axis Bank | Private | 3.00% | 3.00% |
| HDFC Bank | Private | 3.00% | 3.00% |
| HDFC Bank | Private | 3.00% | 3.00% |
| ICICI Bank | Private | 3.00% | 3.00% |
| ICICI Bank | Private | 3.00% | 3.00% |
| IDFC First Bank | Private | 3.00% | 3.00% |
| IDFC First Bank | Private | 3.00% | 3.00% |
| Bank of Baroda | Public | 2.75% | 2.75% |
| Bank of Baroda | Public | 2.75% | 2.75% |
| Punjab National Bank | Public | 2.70% | 2.70% |
| Punjab National Bank | Public | 2.70% | 2.70% |
| State Bank of India | Public | 2.70% | 2.70% |
| State Bank of India | Public | 2.70% | 2.70% |
Savings account interest in India is calculated on the daily closing balance and paid quarterly or half-yearly. Most large banks offer 2.70% to 3.50% per annum. Small finance banks and some digital banks offer 5% to 7%.
Interest earned up to Rs 10,000 per year from savings accounts is tax-free under Section 80TTA (Rs 50,000 for senior citizens under 80TTB).
