Interest Rates on Savings Account: Want more interest on the capital deposited in the savings account, check the latest rates of these 40 banks
Highest Interest Rates on Savings Accounts: For any person, a bank's savings account is one of the initial steps in his financial journey. When a person opens his account in a bank, he not only wants to take advantage of banking services but also wants a return on his deposit savings. That's why the person must choose the right bank savings to account for himself so that he can get the benefit of all the services according to his needs.
You can easily open a savings account
Another special reason behind opening a savings account is the security of money. This is the reason why people prefer to open at least one savings account in the name of all the family members. A savings account can be opened easily. For this, first, apply for a savings account by visiting the nearest bank branch or by visiting the official website of the online bank sitting at home with the help of the necessary identity card and address proof. The bank will then evaluate the details provided by you. After all the details filled in are found correct, the bank will issue a savings account number in the name of the person applying. Once the savings account is opened with the bank, the account holder will get an account number, bank passbook and a debit card. Apart from this, he gets banking services related to all savings accounts like cash withdrawals and check book.
One of the special features of the savings account is that the account holder can withdraw the money kept safe in this bank account whenever needed. The account holder can keep his money in the savings account of the bank to face the difficult situation. It has been seen that to keep money safe and to do easy transactions, people often deposit their contingency funds in a savings account.
Benefits of savings account
Money is safe in the savings account and according to that bank, there is also profit in the form of interest on the deposit.
The account holder can easily withdraw his money whenever he wants from the savings account. It is a liquid investment. In this, the account holder gets cash easily. Many banks offer various offers like discounts and gifts to customers with good income to open accounts.
Many banking services are available on the savings account without any extra charges. Once the savings account is opened, the account holder gets a bank passbook, chequebook, and secure password for banking services, mobile banking and many other facilities. Some banks also provide home banking services to senior citizens customers at no additional cost.
To deal with difficult times, every person must have an emergency fund of at least 6 months to 12 months. And the easiest and best way to arrange this fund is to deposit some part of the monthly income earned during the job in a savings account. Banks also give the benefit of return on this money. And this fund can be used in emergencies if needed.
Names of about 40 including government, private and small finance banks have been shared in the list below. Along with this, the details of the interest rates being given on the savings account of these banks have also been given. Before opening a savings account in your name of yourself or any family member, compare the interest rates offered by these banks. After that, ascertaining these available services, decide to open a savings account.