These 4 banks are giving more profits on their savings accounts, check interest rates

Savings Account Interest Rate: Today, even though people have many investment options, most customers still trust banks more. This is the reason why people make fixed deposits in banks. At the same time, some people like to keep money in savings accounts. Customers also get interest on keeping money in savings accounts. Today we will tell you about the interest rates on savings accounts of some major banks of the country. These banks are State Bank of India (SBI), Bank of Baroda (BOB), Kotak Mahindra Bank, HDFC and ICICI Bank.

SBI: The country’s largest public sector bank – State Bank of India offers 3.50% interest to its customers on savings deposits up to ₹1 crore. This interest rate is 4% per annum for amounts above ₹1 crore.

Kotak Mahindra Bank: Private sector Kotak Mahindra Bank has fixed the interest rate on savings account deposits up to ₹1 lakh at 4.5%. The interest rate on amounts above ₹1 lakh and up to ₹1 crore remains unchanged at 6%. Similarly, the interest rate on savings account balance above ₹1 crore remains stable at 5.5%.

Bank of Baroda: Talking about Bank of Baroda (BOB), it offers interest ranging from 3.50% to 4.00% on savings account.

HDFC Bank: HDFC Bank is offering interest rate of 3.50% per annum on savings deposits less than Rs 50 lakh. HDFC Bank offers an interest rate of 4% per annum on more than this amount.

ICICI Bank: ICICI Bank also gives interest rates to its customers like HDFC. The interest rate for account balance less than Rs 50 lakh is 3.5% per annum. The interest rate for savings amount above Rs 50 lakh is 4%. Let us tell you that as per the rules of Reserve Bank of India (RBI), the interest amount is given to the customer on quarterly basis.