All of the Government Banks gives 4% interest on the Savings Account. Also, the private bank offers 4% Interest rate on Savings account, but there are some banks which offer higher interest rate up to 7.25 %. Details of some of these banks which offers a higher interest rate on savings account have been listed below with account opening procedures.
1. Airtel Payments Bank
Interest Rate: 7.25%, Minimum Balance Required: Zero Balance
Bharti Airtel Payment bank offers 7.25 % interest rate on its account. account opening procedure is also simple by using airtel mobile number. In addition to this, it also offers Free personal accident insurance cover of Rs. 1 Lac. Using this account customer can Shop, Recharge and Pay bills using an onilne debit card. Account opening process is also simple. An Airtel user, with an Aadhaar card, PAN card and a smartphone with Internet connectivity can become a customer of Airtel’s Payments Bank and take advantage to earn an interest of 7.25% p.a by depositing a maximum of Rs.1 lakh
It takes to Open an account approximately 3 minutes, it requires only scan of your finger and with Aadhar number.
New users have to login www.airtel.in/money from their smart phone or from a computer. Your account will be created at Airtel money website. Those who are already a member of Airtel money, use the wallet for making the transaction, will need only to update their app to use the payments bank facility.
Interest Rate: Account up to 6%: Savings Account Minimum Balance: Zero.
Kotak Bank’s ‘811’ is a full-service digital banking ecosystem on mobile that has been designed around the idea of simplicity and ease of use. 811 offers a zero balance saving account with zero charges for all digital transactions.
Kotak 811 is a new age bank account offered by Kotak Mahindra Bank. You can open a Kotak 811 account by downloading the Kotak Mobile Banking app and registering using your Aadhaar number, PAN, and other basic details. You can set up a mobile banking PIN and start using your account immediately
Kotak 811 pays interest of up to 6%* p.a. with zero minimum balance requirement. It allows you to make online money transfers for free (IMPS, NEFT and RTGS ) and comes with a Virtual Visa Debit Card which you can use to shop online as well as pay via Scan and pay at merchant outlets.
Earn up to 6% p.a. interest on savings account balance over Rs. 1 lakh and up to Rs. 5 crores. Earn 5% p.a. interest on savings account balance up to Rs. 1 lakh and 5.5% p.a. interest on savings account balance above Rs 5crores. Applicable for Resident Accounts only.
Just visit the play store from your Android phone and download the Kotak Mobile banking App. Once installed, click on ‘Get started Now’ to start the New Account opening journey. You need to keep your Aadhaar & PAN handy while opening the account. Once complete, your Account number & CRN will be generated instantly and you can start using your Account.
You need to be more than 18 years of age, and a resident of India with an Indian address to be eligible to apply for a Kotak 811 account. To apply for Kotak 811, you will need to have your PAN and Aadhaar Number handy. Kotak 811 is available for individuals who do not have any existing relationship with Kotak Mahindra Bank.
Once your account is opened, you can just login to our Mobile Banking App and start using it. It is packed with features like shopping, paying bills, booking movie tickets, booking air or train or bus tickets, or doing funds transfers in a snap, Kotak 811 brings you convenience at your fingertips.
You can deposit money into your 811 accounts via a payment gateway using your Debit Card or Net Banking or just do funds transfer from your another account through NEFT or IMPS. You can also do a cash deposit in this account by visiting the nearest Kotak Mahindra Bank branch.
The maximum amount you can keep in this account at any given point of time is Rs 1 Lakh. You can credit a maximum of Rs 2 Lakhs in this account and post which you will need to convert to Full KYC account. The validity of this account will be 1 year, within which you will need to convert this account to a Full KYC Account. This is a quick and easy process and we will help you through it. Converting to a full KYC account will also remove the transaction limits from your account.
Kotak 811 brings you a Virtual Debit Card inside your Mobile Banking App. You can use it to shop online, pay bills, do recharges or use ‘Scan & pay’ to pay across lakhs of merchants across the country. If you need to check your card details – card number, expiry date, and CVV – it’s easy, just log into your Mobile Banking app after opening your Kotak 811 account.
3. RBL Bank
Interest Rate: 6.5% Account: Advantage Savings Account / Prime Ads Savings Account Minimum Balance: 10 lakh to 1 crore rupees
The Ratnakar Bank Limited (RBL) has introduced a new type of zero balance savings account product named RBL Abacus Digital Savings Account.
RBL Abacus Digital Savings Account can be instantly opened online without visiting branch at the comfort of your home by using Aadhaar Number and PAN Card. With RBL Abacus Digital Savings Account you will get features like Higher Interest Rates, Unlimited ATM Transactions, and many more things.
To open RBL Abacus Digital Savings Account visit open RBL Abacus Digital Savings Account page by clicking here. You have to follow the steps given below:
On next page, you will have to select your city and enter details. Next, you will receive OTP on your Aadhaar Registered Mobile Number, just enter the OTP in next page. Once you submit all your Aadhaar details will be loaded with your photograph, address, name etc. Just enter all the details asked in the form and click on submit button.
You will receive OTP on your Aadhaar registered mobile number. Enter the OTP Code and click on submit button. Your new RBL Abacus Digital Savings Account details will be intimated by SMS and full detail will be mailed to you. You will also be receiving your Welcome Kit soon on your address, containing your personalized Debit Card.
Be aware that RBL Abacus Digital Savings Account opened with Aadhaar OTP aggregate balance in your accounts (including fixed deposits) should be within Rs.1,00,000/-, total amount credit in a financial year should be within Rs.2,00,000/-, and in-person verification should be completed within 1 year of account opening.
4. IndusInd Bank
Interest Rate: 6% Account: Indus Exclusive Savings Account Minimum Balance: 10 lakh.
With IndusInd Bank, you can Personalize your savings account number by choosing your own digits through the MAMN facility.
5. Yes Bank
Interest Rate: 6% Account: Customized Savings Account Average Annual Balance: 1.66 lakh annually.
online account opening option available at Yes Banks Official website.
*Every care has been taken to gathering and posting these details. Above details are collected from banks official sited. Before opening an account or doing any transaction please go through complete terms and conditions of banks. The author is not responsible for any loss.