Many people choose savings accounts to store their money. A savings account is a place where you can keep a part of your income, and in return, banks offer annual interest to make your savings grow.
Attractive Interest Rates from Banks
Currently, several banks are offering good interest rates on savings accounts.
Banks like Bank of Baroda, Central Bank of India, and Canara Bank have rates above 3%. Here’s a breakdown of the interest rates offered by each bank:
Bank of Baroda (BOB Saving Deposit)
Up to Rs 1 Lakh: 2.75%
Above Rs 1 Lakh and less than Rs 10 Crore: 2.75%
Above Rs 10 Crore and less than Rs 50 Crore: 2.75%
Rs 50 Crore to less than Rs 100 Crore: 3%
Rs 100 Crore to less than Rs 200 Crore: 3%
Rs 200 Crore to less than Rs 500 Crore: 3.05%
Rs 500 Crore to less than Rs 1,000 Crore: 4.10%
Rs 1000 Crore and above: 4.50%
Central Bank of India
Deposits up to Rs 10 Crore: 2.80%
Deposits above Rs 10 Crore and up to Rs 100 Crore: 3%
Deposits from Rs 100 Crore to Rs 1000 Crore: 3.10%
Deposits above Rs 1000 Crore: 3.25%
Canara Bank
Deposits less than Rs 50 Lakh: 2.90%
Deposits between Rs 50 Lakh and less than Rs 5 Crore: 2.90%
Deposits between Rs 5 Crore and less than Rs 10 Crore: 2.95%
Deposits between Rs 10 Crore and Rs 2000 Crore: 3.05% to 3.55%
Deposits above Rs 2000 Crore: 4%
