Highest Savings Account Interest Rates (October 2026)
The banks that pay the most on a savings account, ranked for the balance you keep. Many banks pay their top rate only on the part of the balance above a threshold, so the ranking uses what your balance really earns.
On this page
Calculator and results
On a balance of ₹1,00,000, the highest savings account rate is 3% p.a. at RBL Bank, as of 21 October 2026, from each bank’s own website.
₹
Highest on ₹1,00,000
RBL Bank 3%
Lowest on ₹1,00,000
DCB Bank 1.5%
the best rate on ₹1,00,000 of 3% is 2.06% after tax and cess, and -2.61% after inflation (real return), using CPI inflation of 4.8% for August 2026 (RBI).
| Type | Credited | Calculator link | |||||
|---|---|---|---|---|---|---|---|
| RBL Bank | Private bank | 3%₹3,000 a year | 6%from ₹10,00,000 | Not stated | Monthly | 21 Oct 2026 | Calculate → |
| City Union Bank Bank does not say how its bands apply; shown as tiered | Private bank | 2.75%₹2,750 a year | 4.5%from ₹50,00,00,000 | ₹7,500 | Quarterly* | 21 Oct 2026 | Calculate → |
| Utkarsh Small Finance Bank | Small finance bank | 2.75%₹2,750 a year | 8.25%from ₹2,50,00,00,000 | Not stated | Quarterly | 21 Oct 2026 | Calculate → |
| Tamilnad Mercantile Bank Bank does not say how its bands apply; shown as tiered | Private bank | 2.6%₹2,600 a year | 6%from ₹2,00,00,000 | ₹1,000 | Quarterly | 21 Oct 2026 | Calculate → |
| Bank of Baroda Bank does not say how its bands apply; shown as tiered | Public sector bank | 2.5%₹2,500 a year | 4.75%from ₹20,00,00,00,000 | Not stated | Quarterly* | 21 Oct 2026 | Calculate → |
| Bank of Maharashtra Bank does not say how its bands apply; shown as tiered | Public sector bank | 2.5%₹2,500 a year | 2.75%above ₹1,00,00,00,000 | ₹2,000 | Quarterly | 21 Oct 2026 | Calculate → |
| Canara Bank Bank does not say how its bands apply; shown as tiered | Public sector bank | 2.5%₹2,500 a year | 4%from ₹20,00,00,00,000 | Not stated | Quarterly | 21 Oct 2026 | Calculate → |
| Central Bank of India Bank does not say how its bands apply; shown as tiered | Public sector bank | 2.5%₹2,500 a year | 4.75%above ₹20,00,00,00,000 | Not stated | Quarterly* | 21 Oct 2026 | Calculate → |
| Indian Bank Bank does not say how its bands apply; shown as tiered | Public sector bank | 2.5%₹2,500 a year | 2.8%from ₹7,50,00,00,000 | Not stated | Quarterly | 21 Oct 2026 | Calculate → |
| Indian Overseas Bank Bank does not say how its bands apply; shown as tiered | Public sector bank | 2.5%₹2,500 a year | 7%above ₹20,00,00,00,000 | ₹2,000 | Quarterly* | 21 Oct 2026 | Calculate → |
| Punjab National Bank Bank does not say how its bands apply; shown as tiered | Public sector bank | 2.5%₹2,500 a year | 4.25%above ₹20,00,00,00,000 | Not stated | Quarterly* | 21 Oct 2026 | Calculate → |
| State Bank of India | Public sector bank | 2.5%₹2,500 a year | 2.5%any balance | None | Quarterly | 21 Oct 2026 | Calculate → |
| UCO Bank Bank does not say how its bands apply; shown as tiered | Public sector bank | 2.5%₹2,500 a year | 2.5%any balance | ₹2,000 | Quarterly* | 21 Oct 2026 | Calculate → |
| Union Bank of India Bank does not say how its bands apply; shown as tiered | Public sector bank | 2.5%₹2,500 a year | 6.25%above ₹30,00,00,00,000 | Not stated | Quarterly | 21 Oct 2026 | Calculate → |
| Axis Bank | Private bank | 2.5%₹2,500 a year | 2.5%any balance | Not stated | Quarterly | 21 Oct 2026 | Calculate → |
| Dhanlaxmi Bank | Private bank | 2.5%₹2,500 a year | 6.5%from ₹5,00,00,000 | Not stated | Quarterly* | 21 Oct 2026 | Calculate → |
| Federal Bank | Private bank | 2.5%₹2,500 a year | 5.5%from ₹50,00,00,000 | Not stated | Quarterly | 21 Oct 2026 | Calculate → |
| HDFC Bank | Private bank | 2.5%₹2,500 a year | 2.5%any balance | ₹10,000 | Quarterly | 21 Oct 2026 | Calculate → |
| ICICI Bank | Private bank | 2.5%₹2,500 a year | 2.5%any balance | ₹15,000 | Quarterly | 21 Oct 2026 | Calculate → |
| IDFC FIRST Bank | Private bank | 2.5%₹2,500 a year | 7%above ₹3,00,000 | ₹10,000 | Monthly | 21 Oct 2026 | Calculate → |
| IndusInd Bank | Private bank | 2.5%₹2,500 a year | 7.05%above ₹1,00,00,00,000 | ₹10,000 | Quarterly | 21 Oct 2026 | Calculate → |
| Kotak Mahindra Bank | Private bank | 2.5%₹2,500 a year | 2.5%any balance | Not stated | Quarterly | 21 Oct 2026 | Calculate → |
| YES BANK | Private bank | 2.5%₹2,500 a year | 7%from ₹1,00,00,00,000 | Not stated | Quarterly | 21 Oct 2026 | Calculate → |
| AU Small Finance Bank | Small finance bank | 2.5%₹2,500 a year | 7%from ₹1,00,00,00,000 | ₹10,000 | Monthly | 21 Oct 2026 | Calculate → |
| Equitas Small Finance Bank Bank does not say how its bands apply; shown as tiered | Small finance bank | 2.5%₹2,500 a year | 7%from ₹1,00,000 | ₹10,000 | Quarterly* | 21 Oct 2026 | Calculate → |
| Jana Small Finance Bank | Small finance bank | 2.5%₹2,500 a year | 7%from ₹50,00,000 | ₹2,000 | Quarterly* | 21 Oct 2026 | Calculate → |
| Suryoday Small Finance Bank | Small finance bank | 2.5%₹2,500 a year | 7.6%from ₹5,00,00,000 | Not stated | Monthly | 21 Oct 2026 | Calculate → |
| Ujjivan Small Finance Bank | Small finance bank | 2.5%₹2,500 a year | 7.15%from ₹25,00,00,000 | ₹1,000 | Monthly | 21 Oct 2026 | Calculate → |
| Karnataka Bank Bank does not say how its bands apply; shown as tiered | Private bank | 2.25%₹2,250 a year | 3.75%from ₹1,00,00,000 | ₹2,000 | Quarterly* | 21 Oct 2026 | Calculate → |
| Punjab & Sind Bank Bank does not say how its bands apply; shown as tiered | Public sector bank | 2.2%₹2,200 a year | 4.7%above ₹5,00,00,00,000 | Not stated | Quarterly* | 21 Oct 2026 | Calculate → |
| CSB Bank | Private bank | 2.1%₹2,100 a year | 7.4%from ₹3,00,00,00,000 | Not stated | Quarterly* | 21 Oct 2026 | Calculate → |
| DCB Bank | Private bank | 1.5%₹1,500 a year | 6.85%from ₹25,00,000 | ₹5,000 | Quarterly | 21 Oct 2026 | Calculate → |
- RBL Bank
- Type
- Private bank
- Rate on ₹1,00,000
- 3%₹3,000 a year
- Highest rate
- 6%from ₹10,00,000
- Minimum balance
- Not stated
- Credited
- Monthly
- Last verified
- 21 Oct 2026
- City Union BankBank does not say how its bands apply; shown as tiered
- Type
- Private bank
- Rate on ₹1,00,000
- 2.75%₹2,750 a year
- Highest rate
- 4.5%from ₹50,00,00,000
- Minimum balance
- ₹7,500
- Credited
- Quarterly*
- Last verified
- 21 Oct 2026
- Utkarsh Small Finance Bank
- Type
- Small finance bank
- Rate on ₹1,00,000
- 2.75%₹2,750 a year
- Highest rate
- 8.25%from ₹2,50,00,00,000
- Minimum balance
- Not stated
- Credited
- Quarterly
- Last verified
- 21 Oct 2026
- Tamilnad Mercantile BankBank does not say how its bands apply; shown as tiered
- Type
- Private bank
- Rate on ₹1,00,000
- 2.6%₹2,600 a year
- Highest rate
- 6%from ₹2,00,00,000
- Minimum balance
- ₹1,000
- Credited
- Quarterly
- Last verified
- 21 Oct 2026
- Bank of BarodaBank does not say how its bands apply; shown as tiered
- Type
- Public sector bank
- Rate on ₹1,00,000
- 2.5%₹2,500 a year
- Highest rate
- 4.75%from ₹20,00,00,00,000
- Minimum balance
- Not stated
- Credited
- Quarterly*
- Last verified
- 21 Oct 2026
- Bank of MaharashtraBank does not say how its bands apply; shown as tiered
- Type
- Public sector bank
- Rate on ₹1,00,000
- 2.5%₹2,500 a year
- Highest rate
- 2.75%above ₹1,00,00,00,000
- Minimum balance
- ₹2,000
- Credited
- Quarterly
- Last verified
- 21 Oct 2026
- Canara BankBank does not say how its bands apply; shown as tiered
- Type
- Public sector bank
- Rate on ₹1,00,000
- 2.5%₹2,500 a year
- Highest rate
- 4%from ₹20,00,00,00,000
- Minimum balance
- Not stated
- Credited
- Quarterly
- Last verified
- 21 Oct 2026
- Central Bank of IndiaBank does not say how its bands apply; shown as tiered
- Type
- Public sector bank
- Rate on ₹1,00,000
- 2.5%₹2,500 a year
- Highest rate
- 4.75%above ₹20,00,00,00,000
- Minimum balance
- Not stated
- Credited
- Quarterly*
- Last verified
- 21 Oct 2026
- Indian BankBank does not say how its bands apply; shown as tiered
- Type
- Public sector bank
- Rate on ₹1,00,000
- 2.5%₹2,500 a year
- Highest rate
- 2.8%from ₹7,50,00,00,000
- Minimum balance
- Not stated
- Credited
- Quarterly
- Last verified
- 21 Oct 2026
- Indian Overseas BankBank does not say how its bands apply; shown as tiered
- Type
- Public sector bank
- Rate on ₹1,00,000
- 2.5%₹2,500 a year
- Highest rate
- 7%above ₹20,00,00,00,000
- Minimum balance
- ₹2,000
- Credited
- Quarterly*
- Last verified
- 21 Oct 2026
- Punjab National BankBank does not say how its bands apply; shown as tiered
- Type
- Public sector bank
- Rate on ₹1,00,000
- 2.5%₹2,500 a year
- Highest rate
- 4.25%above ₹20,00,00,00,000
- Minimum balance
- Not stated
- Credited
- Quarterly*
- Last verified
- 21 Oct 2026
- State Bank of India
- Type
- Public sector bank
- Rate on ₹1,00,000
- 2.5%₹2,500 a year
- Highest rate
- 2.5%any balance
- Minimum balance
- None
- Credited
- Quarterly
- Last verified
- 21 Oct 2026
- UCO BankBank does not say how its bands apply; shown as tiered
- Type
- Public sector bank
- Rate on ₹1,00,000
- 2.5%₹2,500 a year
- Highest rate
- 2.5%any balance
- Minimum balance
- ₹2,000
- Credited
- Quarterly*
- Last verified
- 21 Oct 2026
- Union Bank of IndiaBank does not say how its bands apply; shown as tiered
- Type
- Public sector bank
- Rate on ₹1,00,000
- 2.5%₹2,500 a year
- Highest rate
- 6.25%above ₹30,00,00,00,000
- Minimum balance
- Not stated
- Credited
- Quarterly
- Last verified
- 21 Oct 2026
- Axis Bank
- Type
- Private bank
- Rate on ₹1,00,000
- 2.5%₹2,500 a year
- Highest rate
- 2.5%any balance
- Minimum balance
- Not stated
- Credited
- Quarterly
- Last verified
- 21 Oct 2026
- Dhanlaxmi Bank
- Type
- Private bank
- Rate on ₹1,00,000
- 2.5%₹2,500 a year
- Highest rate
- 6.5%from ₹5,00,00,000
- Minimum balance
- Not stated
- Credited
- Quarterly*
- Last verified
- 21 Oct 2026
- Federal Bank
- Type
- Private bank
- Rate on ₹1,00,000
- 2.5%₹2,500 a year
- Highest rate
- 5.5%from ₹50,00,00,000
- Minimum balance
- Not stated
- Credited
- Quarterly
- Last verified
- 21 Oct 2026
- HDFC Bank
- Type
- Private bank
- Rate on ₹1,00,000
- 2.5%₹2,500 a year
- Highest rate
- 2.5%any balance
- Minimum balance
- ₹10,000
- Credited
- Quarterly
- Last verified
- 21 Oct 2026
- ICICI Bank
- Type
- Private bank
- Rate on ₹1,00,000
- 2.5%₹2,500 a year
- Highest rate
- 2.5%any balance
- Minimum balance
- ₹15,000
- Credited
- Quarterly
- Last verified
- 21 Oct 2026
- IDFC FIRST Bank
- Type
- Private bank
- Rate on ₹1,00,000
- 2.5%₹2,500 a year
- Highest rate
- 7%above ₹3,00,000
- Minimum balance
- ₹10,000
- Credited
- Monthly
- Last verified
- 21 Oct 2026
- IndusInd Bank
- Type
- Private bank
- Rate on ₹1,00,000
- 2.5%₹2,500 a year
- Highest rate
- 7.05%above ₹1,00,00,00,000
- Minimum balance
- ₹10,000
- Credited
- Quarterly
- Last verified
- 21 Oct 2026
- Kotak Mahindra Bank
- Type
- Private bank
- Rate on ₹1,00,000
- 2.5%₹2,500 a year
- Highest rate
- 2.5%any balance
- Minimum balance
- Not stated
- Credited
- Quarterly
- Last verified
- 21 Oct 2026
- YES BANK
- Type
- Private bank
- Rate on ₹1,00,000
- 2.5%₹2,500 a year
- Highest rate
- 7%from ₹1,00,00,00,000
- Minimum balance
- Not stated
- Credited
- Quarterly
- Last verified
- 21 Oct 2026
- AU Small Finance Bank
- Type
- Small finance bank
- Rate on ₹1,00,000
- 2.5%₹2,500 a year
- Highest rate
- 7%from ₹1,00,00,00,000
- Minimum balance
- ₹10,000
- Credited
- Monthly
- Last verified
- 21 Oct 2026
- Equitas Small Finance BankBank does not say how its bands apply; shown as tiered
- Type
- Small finance bank
- Rate on ₹1,00,000
- 2.5%₹2,500 a year
- Highest rate
- 7%from ₹1,00,000
- Minimum balance
- ₹10,000
- Credited
- Quarterly*
- Last verified
- 21 Oct 2026
- Jana Small Finance Bank
- Type
- Small finance bank
- Rate on ₹1,00,000
- 2.5%₹2,500 a year
- Highest rate
- 7%from ₹50,00,000
- Minimum balance
- ₹2,000
- Credited
- Quarterly*
- Last verified
- 21 Oct 2026
- Suryoday Small Finance Bank
- Type
- Small finance bank
- Rate on ₹1,00,000
- 2.5%₹2,500 a year
- Highest rate
- 7.6%from ₹5,00,00,000
- Minimum balance
- Not stated
- Credited
- Monthly
- Last verified
- 21 Oct 2026
- Ujjivan Small Finance Bank
- Type
- Small finance bank
- Rate on ₹1,00,000
- 2.5%₹2,500 a year
- Highest rate
- 7.15%from ₹25,00,00,000
- Minimum balance
- ₹1,000
- Credited
- Monthly
- Last verified
- 21 Oct 2026
- Karnataka BankBank does not say how its bands apply; shown as tiered
- Type
- Private bank
- Rate on ₹1,00,000
- 2.25%₹2,250 a year
- Highest rate
- 3.75%from ₹1,00,00,000
- Minimum balance
- ₹2,000
- Credited
- Quarterly*
- Last verified
- 21 Oct 2026
- Punjab & Sind BankBank does not say how its bands apply; shown as tiered
- Type
- Public sector bank
- Rate on ₹1,00,000
- 2.2%₹2,200 a year
- Highest rate
- 4.7%above ₹5,00,00,00,000
- Minimum balance
- Not stated
- Credited
- Quarterly*
- Last verified
- 21 Oct 2026
- CSB Bank
- Type
- Private bank
- Rate on ₹1,00,000
- 2.1%₹2,100 a year
- Highest rate
- 7.4%from ₹3,00,00,00,000
- Minimum balance
- Not stated
- Credited
- Quarterly*
- Last verified
- 21 Oct 2026
- DCB Bank
- Type
- Private bank
- Rate on ₹1,00,000
- 1.5%₹1,500 a year
- Highest rate
- 6.85%from ₹25,00,000
- Minimum balance
- ₹5,000
- Credited
- Quarterly
- Last verified
- 21 Oct 2026
* The bank's page does not state how often interest is credited; quarterly is the RBI minimum for commercial banks. Rates change often. Check with the bank before opening an account. How we check these rates.
- What it is:
- A ranking of Indian savings account interest rates by the balance you keep.
- What it calculates:
- The effective rate and yearly interest your balance earns at each bank.
Key Assumptions
- A steady balance for a year.
- Rates as published on each bank's site on the date shown.
How does the Highest Savings Account Interest Rates work?
Rates are read from each bank's own website or rate document and dated; each row links to its source. A row marked "may be outdated" has not been re-checked for more than 45 days.
For deposits a higher rate is better, so the list starts with the highest. Use "Lowest first" to see the other end.
Small finance banks are labelled. Their deposits have the same DICGC cover as other banks: ₹5 lakh per depositor per bank, principal and interest together.
Credit ratings are shown only as published by the rating agencies, with the agency's name and a link. CalcMate does not make its own safety scores.
Rates as of 21 October 2026.
Highest Savings Account Interest Rates formula
Rate on your balance = annual interest at the bank's slab rates ÷ balance
- Slab rates
- = the bank's bands; for tiered banks each part of the balance earns its own band's rate
Highest Savings Account Interest Rates: worked example
Top 3 banks for a ₹5,00,000 balance
- Equitas Small Finance Bank
- 6.1% (₹30,500 a year)
- IDFC FIRST Bank
- 4.3% (₹21,500 a year)
- Utkarsh Small Finance Bank
- 3.65% (₹18,250 a year)
Highest Savings Account Interest Rates: frequently asked questions
Which bank pays the highest savings account interest?
It depends on your balance. Some banks pay a high rate only above ₹1 lakh or ₹5 lakh, and only on that part. Enter your balance above to rank the banks by what it actually earns.
Is a high savings rate worth moving banks for?
Compare the extra interest with the minimum balance you must keep and the charges for missing it. The difference on a small balance is often only a few hundred rupees a year.
Is savings interest taxable?
Yes, at your slab rate. In the old regime, Section 80TTA deducts up to ₹10,000 a year (80TTB up to ₹50,000 for senior citizens, covering all deposit interest). Banks do not deduct TDS on savings interest.
Further reading
PPF vs FD: Compare Them After Tax, Not Before
An FD at 7.5% and PPF at 7.1% are not what they look like. FD interest is taxed at your slab and PPF interest is not.
Read article
SIP vs FD: Which Is Better for 3, 5 & 10 Year Wealth Creation?
Comprehensive comparison between Mutual Fund SIPs and Bank Fixed Deposits in India. Compare after-tax returns, volatility, inflation beating, and liquidity.
Read article
Reviewed by Pradipta Ray, MBA (Finance) · Updated