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Savings Accounts With Highest Interest Rates in 2025

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Savings accounts are nothing fancy and are one of the oldest ways to earn interest to make money. Some consider them the most trusted and lesser risk-taking investment options! That’s because a savings account is a secure and convenient way to track and transact funds.

If you are planning to open a savings account, this article will help you to explore the top banks in India that provide the best interest rates on their savings account. Further, look at the top ten savings accounts with the highest interest rates in India.

Table of Content

List of Savings Accounts with Highest Interest Rates

Best Savings Account with Their Interest Rates

Why is Freo Save the Best Savings Account in India?

List of Savings Accounts with Highest Interest Rates

Sr. No.

Savings Schemes/Plans

Returns Offered

Lock-in Period

1 National Saving Certificate (NSC)

7.7%

5 Years

7 Sukanya Samriddhi Yojana (SSY)

8.2%

21 Years

4 Post Office Monthly Income Scheme (POMIS)

7.4%

5 Years

3 Recurring Deposit

2.5-8.5%

1 Year

8 Atal Pension Yojana (APY)

Returns depend on pension amount and age

Age 60 Years

9 Employee Provident Fund (EPF)

Retirement or Resignation

8.25%

10 Pradhan Mantri Jan Dhan Yojana

4%

NA

5 Kisan Vikas Patra

7.5%

123 months

6 Public Provident Fund (PPF)

7.1%

15 Years

11 Equity Linked Savings Scheme (ELSS)

Depends on market conditions; there are no assured returns.

Min 3 Years

12 Fixed Deposits

2.50% to 9.01%

Min 5 Years

2 Senior Citizens Saving Scheme (SCSS)

8.2%

5 Years

13 National Pension Scheme (NPS)

Till Retirement (age 60)

9-12%

Sr. No.

Savings Account

Interest Rate

Ujjivan Small Finance Bank

Up to 7.50% [w.e.f. 15th November, 2023]

RBL

Up to 7.50% [w.e.f. 21st August, 2023]

Digibank by DBS

Up to 7% [w.e.f. 10th October, 2023]

IDFC

Up to 7% [w.e.f. 1st October, 2023]

Bandhan Bank

Up to 8.05% [w.e.f. 5th September, 2023]

Yes Bank

Up to 7% [w.e.f. 1st November, 2023]

IndusInd Bank

Up to 6.75% [w.e.f. 5th December, 2023]

Kotak Mahindra Bank

Up to 4% [w.e.f. 13th June, 2022]

Canara bank

Up to 4% [w.e.f. 21st December, 2021]

ICICI

Up to 3.5% [w.e.f. 4th June, 2020]

Axis Bank

Up to 3.5% [w.e.f. 1st June, 2022]

HDFC

Up to 3.5% [w.e.f. 6th April, 2022]

Bank of Baroda

Up to 3.35% [w.e.f. 15th June, 2022]

Union Bank of India

Up to 4% [w.e.f. 20th November, 2023]

SBI

Up to 3% [w.e.f. 15th October, 2022]

Indian Bank

Up to 2.90% [w.e.f. 1st April, 2022]

Bank of India

Up to 2.90% [w.e.f. 1st May, 2022]

Punjab National Bank

Up to 2.90% [w.e.f. 1st January, 2023]

*Last updated on January 2025.

Best Savings Account with Their Interest Rates

Several public and private sector banks in India today offer different forms of savings accounts that cater to different needs of individuals. There are several interest rates available for a savings account, and this is our handpicked list of some of the highest interest rates bearing savings accounts:

Several public and private sector banks in India today offer different forms of savings accounts that cater to different needs of individuals. There are several interest rates available for a savings account, and this is our handpicked list of some of the highest interest rates bearing savings accounts:

Ujjivan Small Bank

RBL Bank

DBS Bank

IDFC First Bank

Bandhan Bank

Yes Bank

Induslnd Bank

Kotak Bank