THESE 5 banks offer 7% interest rate on savings accounts

To attract new retail customers, small finance banks are giving greater interest rates on savings accounts.

There are various advantages to having a savings account, including liquidity, interest earnings, fund safety, and additional profits due to the auto sweep option between a savings account and a fixed deposit, among others. According to statistics provided by BankBazaar, small finance institutions are offering greater interest rates in the face of dropping interest rates. 

To attract new retail customers, small finance banks are giving greater interest rates on savings accounts than private and public sector banks. Choose a bank with a long history of outstanding service, a large branch network, and ATM facilities in multiple locations; a higher interest rate on savings accounts would be a plus.

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