After the RBI guidelines that banks can have savings rates as per their desire as till now banks were enjoying by paying lower rates of interests on saving accounts and were earning higher interest by virtue of lending.
Now the banks offering 6% rates of interest on savings account are as following:
- Yes Bank
- Indusind bank
- Kotak Bank
However do not jump to conclusions as Indusind and Kotak bank have a hidden rider where they pay this interest to all those accounts which have more than 1 Lakh in their savings account.
The latest to join the band wagon is SBI which is offering upto 8.75% for amount above 1 Crore and one needs to hold the amount for minimum 7 days.
Thus the buck stops with Yes bank which is offering the 6% savings rate irrespective of the amount in the account. Now can we call it the Best bank in India and moreover it figures even in our top 10 stocks also.
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