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SBI vs ICICI Bank vs HDFC Bank vs AXIS Bank: Which Bank Offers Best Savings Account Interest Rates

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The State Bank of India offers different types of savings accounts based on various customer levels. These include Basic Savings Account, Savings Plus Account, Yuva Savings Bank Account, etc. For any of these accounts, the SBI savings account interest rate is 2.70% per annum for balances of less than ₹10 Crore. For balances above ₹10 Crore, the SBI savings account interest rate is 3% per annum.

ICICI bank offers various types of savings bank accounts as per your unique needs. Based on your location, you may be asked to maintain an average monthly balance in your ICICI Bank savings account. As per the bank’s official website, ICICI Bank offers savings bank account interest at the rate of 3% per annum for end-of-day balances below ₹50 Lakh. For end-of-day balances of ₹50 Lakh and above, the ICICI Bank savings account interest rate will be 3.50% per annum.

Savings accounts offered by HDFC Bank come with unique features and advantages based on the type of savings account and your needs. These special benefits make it easier for you to manage your money. As per the bank’s official website, the HDFC Bank savings account interest rate for balances less than ₹50 Lakh is 3% per annum. For balances of ₹50 Lakh and above, the HDFC Bank savings account interest rate is 3.50% per annum. The bank will credit the savings bank account interest on a quarterly basis.

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The Axis Bank savings account interest rate is 3% for balances below ₹50 Lakh. For savings bank account balances of ₹50 Lakh and below ₹800 Crore, Axis Bank offers an interest rate of 3.50%. Axis Bank calculates the savings bank account interest on a daily basis and credits the interest account on the first day of every quarter.

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