Savings Account Interest Rates: SBI Vs ICICI Bank Vs HDFC Bank Vs Post Offices
Savings accounts help customers park their money safely with banks. Customers do earn an interest income on the account but generally savings bank accounts offer modest interest rates as compared to fixed deposit (FD) accounts. The interest earned is tax-free up to Rs 10,000 per year. Customers also get ATM and debit card facilities on savings bank accounts. Key banks like State Bank of India (SBI), ICICI Bank, and HDFC Bank offer the facility of opening savings bank accounts. Post offices across the country also offer the facility of opening savings accounts.
Given below is a comparison of savings bank accounts interest rates offered by SBI, ICICI Bank, HDFC Bank, and post offices
State Bank of India (SBI) savings bank accounts
SBI offers deposit lockers, nomination facility, SMS alerts and e-statements to savings bank account holders, it said on sbi.co.in.
Interest rates offered on SBI savings bank accounts
| Particulars | Rate of Interest |
| Saving Deposits Balance upto Rs. 1 crore. | 3.50% p.a |
| Saving Deposits Balance above Rs. 1 crore. | 4.00% p.a |
| Savings Bank balance | Revised Rate w.e.f 19th August, 2017 |
| Rs. 50 lakh and above | 4% |
| Below Rs 50 lakh | 3.50% |
