List of banks offering higher bank interest rates above 7

Higher bank interest rates: If you’re looking for higher bank interest rates, you should read this article. Many banks are offering higher than 7% interest rate on the savings account. Retail investors can easily get swayed away by such lucrative rates amid the falling fixed deposit (FD) interest rates in the last few months. IDFC First Bank, Bandhan Bank, and small finance banks like Equitas and Utkarsh offer better interest rates on a savings account as compared to top lenders like State Bank of India (SBI), ICICI, and HDFC Bank. For instance, HDFC Bank and ICICI Bank offer 3% to 3.5 per% on their savings account, SBI offers 2.70% on their savings account.

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Here are IDFC First Bank savings account interest rates:

On a balanced amount of up to Rs 1 lakh, IDFC First Bank is offering an interest rate of up to 6 percent and 7 percent on balance amount more than 1 lakh to less than or equal to 10 crores.

AMOUNT	INTEREST RATES
1 lakh	6%
Above 1 lakh to 10 crore	7%
Above 10 crores to 50 crore	4.5%
Above 50 crores to 100 crore	4%
Above 100 crore	3.50%

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Here are Bandhan Bank savings account interest rates:

OOn a balanced amount of up to Rs 1 lakh, Bandhan Bank offers interest rates of 3 percent and 6 percent on a daily balance above Rs 1 lakh to Rs 10 crore. On daily balance above Rs 10 crore to Rs 50 crore, the bank offers 6.55 percent and7.15 percent on daily balance above Rs 50 crore.

AMOUNT	INTEREST RATES
Daily balance up to 1 lakh	3%
Daily balance above 1 lakh to Rs 10 crore	6%
Daily balance above Rs 10 crore to Rs 50 crore	6.55%
Daily balance above Rs 50 crore	7.15%

Here is Equitas Small Finance Bank savings account interest rates:

On balance up to Rs 1 lakh, Equitas Small Finance Bank provides an interest rate of 3.5 percent. Bank also offers a 7 percent rate on balance above Rs 1 lakh and up to Rs 30 crore. For a balance above 30 crores and up to Rs 50 crore, it offers a rate of 7.25 percent.

AMOUNT	INTEREST RATES
Daily balance up to 1 lakh	3.5%
Daily balance above 1 lakh to Rs 30 crore	7%
Daily balance above Rs 30 crore to Rs 50 crore	7.25%

Here is Utkarsh Small Finance Bank savings account interest rates:

On a balanced amount of up to Rs 1 lakh, Utkarsh Small Finance Bank offers interest rates of 5 percent. 6 percent on incremental balance above Rs 1 lakh and up to Rs 25 lakh, and 7.25 percent on incremental balance above Rs 25 lakh.