Best Interest Rates on Savings and Term Deposits 2024

  Savings Account Interest Rates

  1. Utkarsh :     4.0 upto 1 L,         6.5 beyond 1 L
  2. RBL Bank:  3.5 upto 1 L,         5.5 1 to 10 L  [[01-Oct-2024]
  3. Bandhan:    3     upto 1 L,         6    1 to 10 L
  4. IndusInd:    3%  upto 1 L         5%  1 to 5 L
  5. Suryodaya: 3  upto 1 L,         5    1 to   5 L, 6% beyond 5 L [2-Sept-2023]
  6. AU Bank:    3     upto 3 L,         4     3 to   5 L
  7. IDFC First:  3     upto 5L           7.25  5 to 50 Cr     [15-July-2024]
  8. Yes Bank:   3%   upto 1 L       4 1 to 5
  9. IDBI Bank:  3%  
  10. HDFC:        3% up to 50 L
  11. ICICI:          3% up to 50 L
  12. Union Bank: 2.9%
  13. SBI:              2.7% 
  14. Bank of Baroda: 2.75%
  15. Jana Bank: 2.5   upto 1 L,         5    1 to   5 L, 7.5% beyond 5 L [3-Oct-2024]
  16. Karur V :       2.25%

Term Deposit Rates: Senior Citizens (General)
Small Finance Banks
  1. Unity Small : 9.5% (9%) [Not in TS] [Aug]
  2. North East Small Finance Bank: 9.5% (9.0%) for 555 days or 1111 days [Only North East]
  3. Suryodaya Small Finance Bank: 9.1% (8.6) for 2-3 yrs (7-July-2024)
  4. Utkarsh: 9.1 % (8.5%) for 2-3 yrs (7-July 2024)
  5. Shivalik small finance bank: 8.8% (8.3%) 18 months -2 yrs [Not in TS] 
  6. ESAF: 8.75% for 2-3 yrs days [14-April-2024]
  7. Equitas Small Finance Bank: 8.75% (8.25%) for 444 d [Nov 2024]
  8. Jana Bank: 8.75% (8.25%) for 2-3 yrs, (4 Nov)
  9. Ujjivan: 8.75 (8.25) for 12 months [Not in TS] [1 Nov]
  10. AU Bank: 8.5% (8.0) for 2 - 3 years (7-July-2024)
  11. Capital Small finance bank: 8% (7.5) for 12 months [North India only] [Nov 2024]
Other Banks: Senior Citizen (Non-seniors)
  1. Bandhan Bank: 8.55% (8.05%) for 1 y days [13 Sept]
  2. RBL Bank: 8.50% (8.0) for 18-24 months [15 Dec]
  3. IndusInd Bank: 8.49% (7.99%) for 1 y 5 M to 1Y 6M [26 Nov]
  4. Idfc First Bank: 8.4% (7.9%) for 500 D [26 Nov]
  5. Yes Bank: 8.25 (7.75) for 18 M to 24 M [21-Nov]
  6. Karur V Bank: 8 % (7.5%) for 444 days [1-Sept]
  7. Axis Bank: 7.75 (7.1%) for 5 - 10 y [12-Oct]
  8. HDFC Bank: 7.75% (7.25%) for  18 - 21 m [1-July]
  9. Canara Bank: 7.75% (7.25%) for 444 days [01-June]
  10. Indian Overseas Bank: 7.75% (7.25) for 444 days [06-June]
  11. ICICI Bank: 7.75% (7.2) for above 15 m - 2 Y [July-24]
  12. Bank of Baroda: 7.55% (7.05) for 2-3 y [May-2023]
  13. Union Bank of India: 7.5% (7%) for 399 days [01-June]
  14. SBI: 7.5%  (7%) 2-3 y [Feb-2023]
  15. IDBI Bank: 7.5% (7%) for 2-3 y [12-Nov]

Other Long Term Options with Lock in

  1. PMVVY: 7.6% Lock in of 10 yrs [Scheme discontinued]
  2. Senior Citizens Savings Scheme: 8.2%
  3. RBI Floating Rate: 7.15% [You can invest online via HDFC]
  4. Public Provident Fund: 7.1 % Lock in of 15 yrs and 5 yrs thereafter (Best due to EEE taxation in-spite of low rate)

Comments

Post a Comment

Popular posts from this blog

Best Interest Rates on Savings and Term (Fixed) Deposits 2025

Looking to compare the latest fixed deposit interest rates in India? Our blog provides updated information on FD interest rates and fixed deposit interest rates offered by every major financial institution . Whether you are a regular investor or have crossed 60 years , you can easily find which term deposits offer the best rate of interest , highest interest payout , and most flexible lock-in period for your needs. We explain the types of term deposits , including recurring deposit options, so you understand how your principal amount and deposit amount will earn interest until the maturity date . You’ll also learn how interest income from FDs is treated under income tax rules and what various FDs offer to help you maximize returns. If you're seeking clarity before locking in a fixed interest rate , this blog is the perfect guide for choosing the right term deposit in India for both normal and senior citizens. Term Deposit Rates: Senior Citizens (General) Small Finance B...
Read more

Best Savings Bank Accounts in India – Comparison, Experiences & Honest Review (2025)

Best Savings Bank Accounts in India – Comparison, Experiences & Honest Review (2025) Choosing the best savings bank account in India can be confusing, especially with every bank promising “zero charges,” “premium banking,” and “best interest rates.” Based on my real interactions with major Indian banks over the past few years—both online and offline—here is a practical, user-focused comparison. This guide includes: A detailed comparison table SEO-optimized insights My personal experience with HDFC, ICICI, SBI, Axis, Kotak & IndusInd Pros, cons, charges, interest rates, and digital experience breakdown ⭐ Savings Account Comparison Table – India (2025) Note: Actual charges/interest may vary by account type. This comparison reflects general customer experience + standard savings accounts . Bank Interest Rate (Typical) Mobile App Experience Customer Service Minimum Balance Best For HDFC Bank 3–3.5% ⭐⭐⭐⭐⭐ Excellent ⭐⭐⭐⭐ Good ₹10,000–₹15,000...
Read more

Best Savings Account & Term Deposit Interest Rates in India (General & Senior Citizens) 2026

  Savings Account & Term Deposit Interest Rates in India (General & Senior Citizens) Selecting the right savings account or term deposit is essential to earn interest efficiently while keeping risk low. Banks and financial institutions in India offer different rate of interest based on tenure, deposit amount, and customer category such as general public or senior citizens (60 years and above) . This guide provides a clean comparison framework for savings accounts and fixed deposit interest rates, allowing you to update rates easily as banks revise them. Savings Account Interest Rates – General Public A savings account helps you earn interest on idle balances while offering liquidity. Interest is calculated daily and credited periodically. Savings Account Interest Rate Comparison (Fill Rates) Term Deposits (Fixed Deposits) – Overview A term deposit (fixed deposit) allows you to invest a lump-sum principal amount for a fixed tenure at a fixed interest rate . Th...
Read more