Best Savings Account Interest rates in India December 2020

 

The interest rates on bank savings accounts as well as bank fixed deposits have been on the downward trend. However, there are a few banks that are still offering a high-interest rate on their savings accounts.

While the majority of the banks are providing an interest rate or 2.75 % - 4 % per Annum Some banks are still providing a lucrative interest up to 7.25 % in this market.

Find below the current interest rates on a savings account as of December 2020

*Note: Check with your bank before opening your account

• What is Savings Account?

A savings account is a bank account at a retail bank whose features include the requirements that only a limited number of withdrawals can take place, it does not have cheque facilities and usually do not have a linked debit card facility, it has limited transfer facilities and cannot be overdrawn. (source: Wikipedia)

Also Read: Is your Savings Account really making money for you?