2024-07-16 03:47:38
New Delhi: Post Office Savings Account works just like any other bank savings account. A minimum of Rs 500 has to be deposited in it. Even a small amount of Rs 50 can be withdrawn from here. There is no maximum limit on investment. Interest up to Rs 10,000 is not taxable. The interest rate on post office savings account for the July-September 2024 quarter is 4%. Let us see here how much interest other banks are giving on savings accounts in comparison to this.1. State Bank of India (SBI) Savings accounts offer 2.70% interest on deposits up to Rs 10 crore and 3% interest on deposits above Rs 10 crore.
2. HDFC Bank In this, 3% interest is given on savings account amount less than Rs 50 lakh and 3.50% interest is given on amount more than Rs 50 lakh.
3. ICICI Bank also offers 3% interest on daily balance of less than Rs 50 lakh and 3.5% on end-of-day balance of above Rs 50 lakh.
4. Punjab National Bank (PNB) It offers 2.70% interest on balances below Rs 10 lakh and 2.75% interest on balances between Rs 10 lakh and Rs 100 crore. PNB offers 3% interest on balances of Rs 100 crore and above.
5. Union Bank of India The bank offers 2.75% interest on balances up to Rs 50 lakh and 2.90% on amounts from Rs 50 lakh to Rs 100 crore. The bank offers 3.10% interest on balances from Rs 100 crore to Rs 500 crore and 3.40% on balances from Rs 500 crore to Rs 1000 crore. The highest interest rate of 4.20% is paid on balances above Rs 2000 crore.
6. IDFC First Bank The bank offers 3% interest on balances below Rs 1 lakh, 3.50% on balances between Rs 1 lakh and Rs 3 lakh. The bank offers 4% interest on balances between Rs 3 lakh and Rs 5 lakh. 7% interest is offered on balances between Rs 5 lakh and Rs 10 lakh and Rs 5 crore and Rs 50 crore. IDFC First Bank offers the highest interest rate of 7.25% on balances between Rs 10 lakh and Rs 5 crore.