India's best savings account interest rates banks for a digital bank account

This article enlists five banks offering the best savings account interest rates. Moreover, these banks provide high-quality digital banking services online. Read on to understand more about their features.

We often get confused when choosing a bank to open a savings account, and it happens because most of us skip our requirements and purpose for opening a bank account. If we want a savings account to meet our daily expenses, a bank offering extensive services must be our priority. And, if we need to fulfil our short-term or long-term goals, we must choose a bank offering high-interest accounts. 

1. IDFC FIRST Bank offers high-interest rates on its savings accounts.

Here are the key features of IDFC FIRST Bank's savings accounts that make them a popular choice:
  • Customers can steadily increase their savings over time - IDFC FIRST Bank offers three features that help customers save more: a high-interest rate, monthly interest credits, and the Zero Fee Banking feature. IDFC's savings account offers one of the best savings interest rates of up to 6.75% per annum. The Zero Fee Banking feature waives the fees of 28 savings account-related services like IMPS (Immediate Payment Service), NEFT (National Electronic Funds Transfer), RTGS (Real-Time Gross Settlement) and ATM withdrawal charges. 

  • IDFC FIRST Bank offers a highly efficient mobile app - The Track My Expenses feature helps customers budget efficiently using the app, increasing their overall savings over time. The app facilitates instant and secure online transfers through Auto Pay and One-Swipe Pay. IDFC FIRST Bank's mobile banking app always offers access to all banking services. 

  • Seamless account-opening procedure - Opening a digital bank account with IDFC FIRST Bank is a paperless, digital procedure that does not require visiting the bank in person.

  • Customers can track their expenses easily - The IDFC FIRST Bank mobile app helps categorize transactions and draft an efficient budget. 

2. Browse through the features offered by ICICI Bank's savings accounts.

ICICI Bank offers these features to customers through its savings accounts: 
  • Customers can conveniently pay their utility bills via IMPS, NEFT, RTGS or the iMobile Pay app. 

  • ICICI Bank offers customers all-time, 24/7 access to their digital savings accounts. 

  • The process of opening an ICICI online bank account is paperless and straightforward. 

3. Kotak Mahindra Bank's savings account has some attractive features for customers 

Kotak Mahindra Bank features among the banks that offer the best interest rates. Here are some key benefits of Kotak's savings accounts: 
  • Customers need not adhere to any minimum balance requirement. 

  • Kotak Mahindra Bank facilitates an instant account opening for all its digital savings accounts. 

  • Customers can use the Scan and Pay feature to make quick and secure payments through the Kotak-811 app.

4. HDFC Bank facilitates instant access to all banking services

Here are the features of HDFC Bank's digital savings accounts: 
  • HDFC Bank offers a comprehensive interest rate and facilitates online opening for all its digital accounts.

  • Customers can make instant investments directly through the HDFC Bank mobile banking app. 

  • HDFC Bank's app can also lead you to your nearest HDFC Bank ATM. 

5. You can also consider opening a savings account with Axis Bank

Our final recommendation to you is Axis Bank's savings account. Here are its features: 
  • Axis Bank facilitates quick online transfers through its digital savings accounts. 

  • Customers can choose their home branch by opting for a digital bank account. 

  • The Axis Bank mobile app also facilitates quick and secure bill payments online. 

You must always visit the bank's site and read reviews about its customer services online before choosing its savings account. Always choose a bank that offers opportunities to save more with comprehensive banking services at your disposal.


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