Usually, people invest in fixed deposits (FD) by saving. By investing in FD, they take advantage of interest. But we are going to tell you about some of such small finance banks, that customers get more interest than fixed deposits in a savings account. You can also take advantage of opening a savings account in the bank. The main thing is that these banks are getting more interest than SBI, India's largest government bank.
IDFC First Bank
IDFC First Bank pays customers a rough interest on a savings account. If your IDFC first bank savings account has an amount of up to Rs. 1 lakh, you will get an interest of six percent. Customers will get seven percent interest on more than one lakh amount. SBI receives 3.25 percent interest on deposits up to one lakh and three percent on more than one lakh.
Ujjivan Small Finance Bank
If you have opened a savings account in Ujjivan Small Finance Bank, you will get four percent interest on deposits up to five lakh rupees. 5.50 percent on amounts ranging from 5 lakh to 50 lakh, 6.75 percent on amounts from 50 lakh to five crores. On a high amount of five crore rupees, customers get seven percent interest.
Equitas Small Finance Bank
Equitas Small Finance Bank customers will get an interest of 4.50 percent on deposits up to Rs 1 lakh in a savings account. Account-holders get six percent interest on amounts ranging from Rs 1 lakh to Rs 1 crore, 7 percent on 1 crore to five crores, 7.25 percent from 5 crores to 30 crore and 7.50 percent interest on deposits up to Rs 30 crore.
Utkarsh Small Finance Bank
The flourishing small finance bank receives seven percent interest to the customers on deposits up to Rs 25 lakh. Account-holders get 7.25 percent interest on an amount ranging from 25 credit to Rs 10 crore. Account-holders get an interest of 7.75 percent on deposits above Rs 10 crore.
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