Top 5 Bank Savings Account Interest Rate with No Hidden Charges - Hindustan Times
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Top 5 Bank Savings Account Interest Rate with No Hidden Charges

Published on Apr 18, 2024 07:33 PM IST

With these bank accounts, you will get the additional benefits of credit cards and Loans in the future.

Top 5 Bank Savings Account Interest Rate with No Hidden Charges
Top 5 Bank Savings Account Interest Rate with No Hidden Charges
ByHT Brand Studio

 

You have started your career. You are a student moving out of your home town. You are a businessman looking to save for your retirement. You are an employee looking to save some of your income to meet your financial expenses. Well, there is no doubt that savings are important for everyone. And for this, you need to have a savings account in a bank, either private or public bank.

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But wait! Which is the best savings account interest rate you must seek? Well, this is a hard question to answer.

And if you are also seeking the answer, you have just landed at the right place. With deep analysis and comparison of the banks, we have spotted the top 5 bank savings account interest rates with no charges that will multiply your savings and help you meet your goals. Also, with these bank accounts, you will get the additional benefits of credit cards and Loans in the future.

So, let us explore the details here.

1] RBL Bank Basic Savings Account

A perfect bank account if you want to save and earn more interest. Known as a beginner-friendly account and has been promoted to be one of the top fuzz-free accounts. The main benefits that you will get with the account are:

  • No need to maintain any balance, as this is a zero-balance account.
  • Get the Rupay Card with INR 50,000 ATM withdrawal limit and INR 30,000 POS limit for easy transitions.
  • Enjoy access to 2 free chequebooks (40 leaves) per year.
  • Access the mobile application and net banking to complete all online transactions without hassle.
  • Get the Accidental and Disability Insurance Cover of INR 1 lakhs with the debit card.
  • Enjoy free fund transfers, deposits, withdrawals, and NEFT/RTGS facilities.
  • Benefit from the savings account interest rate of 4.00% to 7.5% PA based on the amount in your account.
  • Get upto 8.10% PA on your fixed deposits.

2] IndusInd Bank Easy BSBD Accounts

One of the top players in the private sector, this bank offers multiple savings accounts to its customers. One such savings account with high interest and low terms is the easy savings account, also known as the Basic Savings Bank Deposit Account (BSBDA). This hassle-free account with low documentation needs offers the following benefits:

  • Open the account with zero balance needs.
  • No need to maintain a minimum balance and no charge for the same.
  • Get the Rupay debit card with a daily ATM limit and POS limit of INR 10,000 each,
  • Access the bank account through mobile and internet banking from anywhere.
  • Get the savings account interest rate of 3.50% to 6.75% PA based on the amount in your account.
  • The interest rate on fixed deposits for senior citizens is up to 8.25% PA, and for others, it is 7.75% PA.

3] IDFC FIRST Bank Savings Account

Though considered an upcoming bank, IDFC First is growing with its offerings. With the simple eligibility criteria and low documentation needs, applying for a savings account in this bank will fulfill all your needs. The benefits include:

  • Upto 28 free services associated with the bank.
  • Presence on the digital platform for easy management.
  • Access to the platinum VIA debit card.
  • The daily withdrawal limit is up to INR 6 lakhs, and the ATM withdrawal limit is INR 2 lakhs.
  • Get the Accidental Insurance Cover of upto INR 35 lakh with the debit card.
  • Discounts and cashback son transactions are available on multiple websites.
  • Benefit from the savings account interest rate of 3.00% to 7.00% PA on the amount in your account.
  • Get upto 8.00% PA on your fixed deposits and 8.50% PA for senior citizens.

4] Bandhan Bank BSBDA Savings Account

This account is crafted for the common man and offers its holders multiple benefits. This zero-balance account comes with no hidden charges but offers you all the facilities of a normal savings account. The primary features of the account are as follows:

  • No need to maintain any minimum balance.
  • No maximum limit for the free cash deposit.
  • Net banking and mobile banking facility for quick transactions.
  • Get the RuPay Classic Debit Card and Passbook with your account.
  • Benefit from the savings account interest rate of 3.00% to 8.05% PA on the amount in your account.
  • Get upto 7.85% PA on your fixed deposits and 8.35% PA for senior citizens.

5] YES Bank Savings Account

One of the best aspects of the YES bank savings account is that it can be opened online at home. With the simple application process and documentation needed, you will get multiple benefits from all the accounts. The prime benefits that you gain are:

  • Minimum balance needs vary based on the nature of the account.
  • Mobile and internet banking facility available.
  • Charges are listed properly in advance to avoid any confusion.
  • Debit card based on your particular needs.
  • Enjoy the facility for deposits, withdrawals, transfers, lockers, and others seamlessly.
  • Benefit from the savings account interest rate of 3.00% to 7.00% PA on the amount in your account.
  • Get upto 7.75% PA on your fixed deposits and 8.00% PA for senior citizens.

These are just a few savings accounts that you can get, but the list is quite long. With these savings accounts, you get the added benefit of applying for credit cards and Personal Loans. You can get a beneficial personal loan interest rate upon maintaining the balance and long-term relationship.

But when you apply to open your savings account with such banks, read the terms properly. The charges, interest rates, and other aspects are prone to change based on the bank's discretion. Reading through the lines while applying for a savings account will help you get the best deal and benefits.

Since the list of charges, fees, and other linked terms is quite elongated, It is advised to visit the official platform to get a clear picture. So, compare and contrast all the options to get the best savings account interest rate in 2024.

This list has been compiled by https://guestpostdiscery.com/

Disclaimer: This article is a paid publication and does not have journalistic/editorial involvement of Hindustan Times. Hindustan Times does not endorse/subscribe to the content(s) of the article/advertisement and/or view(s) expressed herein. Hindustan Times shall not in any manner, be responsible and/or liable in any manner whatsoever for all that is stated in the article and/or also with regard to the view(s), opinion(s), announcement(s), declaration(s), affirmation(s) etc., stated/featured in the same. The article does not constitute financial advice.

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