What is Interest Rate?

An interest rate is the return on your lending or the cost of borrowing. It is expressed as Rate of Interest per year. It is a key variable in the any economy. It has big influence on day to day life. It plays an important role when decisions to purchase durable goods such as homes and vehicles are made ........

Savings Bank Interest Rates

Which saving Bank account gives the highest rate of interest? Please find Rates of banks which are offering higher than 4% P.A of interest on savings Bank accounts (sb accounts).

Starting October 25th 2011 , RBI has allowed all banks to offer and set their own rates for Savings Bank accounts. RBI allows two types of savings bank accounts for saving below Rs. 1 Lakh and savings above Rs. 1 Lakh. Please visit this page often to saving account interest rate offered by banks operating in India. We are tracking the announcements and will update this list as Banks change their interest rates on saving Bank accounts. Now it is easy to earn more on your savings! The time of lazy savings is over now and one has to take advantage of the market dynamics and earn more on short term fixed deposits. The interest on short term fixed deposits is nearly 100% more than offered by the same bank on saving bank accounts. You can earn by switching money from Saving Bank accounts to Short term deposits.

Savings bank interest rates for less than Rs.1 Lakh

BankSaving Rate(%)
below 1 Lakh
Yes Bank 6.00
IndusInd Bank 5.50
Kotak Mahindra Bank 5.50
Karnataka Bank 5.00
Allahabad Bank 0.00
Allahabad Bank 0.00
Allahabad Bank 0.00
Allahabad Bank 0.00
Allahabad Bank 0.00
Allahabad Bank 0.00
Allahabad Bank 0.00
Allahabad Bank 0.00
Allahabad Bank 0.00
Allahabad Bank 0.00
Allahabad Bank 0.00
Allahabad Bank 0.00
Allahabad Bank 0.00
Allahabad Bank 0.00
Allahabad Bank 0.00
Allahabad Bank 0.00
Allahabad Bank 0.00

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Savings bank interest rates for more than Rs.1 Lakh
BankSaving Rate(%)
above 1 Lakh
Yes Bank 7.00
Kotak Mahindra Bank 6.00
IndusInd Bank 6.00
Karnataka Bank 5.00