Compare Savings Accounts

Savings Account Comparator

Compare 12 account types on interest rates, features & 25+ parameters

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Smart Savings Account Tips

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Use Multiple Accounts

Keep 1 salary account for bills, 1 high-interest account for savings, and 1 digital account for UPI/daily spending. This maximizes interest while keeping funds organized.

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Auto-Sweep Advantage

Choose accounts with auto-sweep facility. Balance above a threshold moves to FD automatically, earning 6-7% instead of 3-4%. Liquidation is instant when needed.

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Digital Banks Win

Digital banks (Fi, Jupiter, Niyo) offer 5-7% interest via sweep FDs, zero maintenance charges, spending insights, and instant virtual debit cards.

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₹5L Insurance Rule

DICGC insures ₹5 lakh per bank (not per account). If you have over ₹5L, spread across multiple banks. Check if your bank is DICGC-covered.

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Tax-Free Interest

Under Sec 80TTA: first ₹10,000 of savings interest is tax-free (under 60 yrs). Senior citizens get ₹50,000 under Sec 80TTB (includes FD interest). Plan accordingly.

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UPI Limits Matter

Standard UPI limit is ₹1L/transaction. Some banks offer higher limits for premium accounts. Check NEFT/RTGS limits too if you frequently transfer large amounts.

Current Savings Account Interest Rates (2025)

Top banks by savings account interest rate

Bank / FintechRateMin BalanceTypeBest For
AU Small Finance Bank7.25%₹2,000SFBHighest rate
Equitas / Ujjivan SFB7.0%₹2,500SFBHigh interest
Fi / Jupiter (via FI)6.5%*₹0DigitalTech-savvy youth
IndusInd Bank5.0%₹10,000PrivatePremium features
Kotak Mahindra Bank3.5%₹0 (811)PrivateDigital + branch
HDFC Bank3.0%₹10,000PrivateBranch network
SBI2.7%₹3,000PSUGovernment trust

* Via sweep FD feature. Rates as of early 2025. Subject to change.

Frequently Asked Questions

What is the best savings account in India for highest interest?▼
Small Finance Banks like AU, Equitas, and Jana offer 6-7% interest on savings accounts. Digital banks and fintech accounts offer 5-7% via sweep FDs. Traditional big banks offer 2.7-3.5%. For highest returns, consider small finance bank or digital accounts, but check deposit insurance limits.
What is the minimum balance required?▼
Digital/Fintech accounts: ₹0. Salary accounts: ₹0 while employed. Regular bank accounts: ₹1,000-10,000. Women/Student accounts: ₹0-500. NRI accounts: ₹10,000-1,00,000 depending on type.
Is savings account interest taxable?▼
Yes. But under Section 80TTA, interest up to ₹10,000/year is exempt (under 60). Under Section 80TTB, senior citizens get ₹50,000 exemption on all deposit interest. TDS is deducted if interest exceeds ₹40,000/year (₹50,000 for seniors).
What happens if I don't maintain minimum balance?▼
Banks charge ₹100-600/quarter depending on the shortfall. Some banks charge monthly. Digital banks and BSBD (Basic Savings Bank Deposit) accounts have zero minimum with no penalties. PSU banks have lower penalties than private banks.
Which account type is best for NRIs?▼
NRO for Indian income — fully taxable, limited repatriation. NRE for foreign income — tax-free in India, fully repatriable. FCNR for foreign currency deposits — no forex risk, tax-free. Most NRIs need both NRE and NRO.

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