Here is the list of the banks with the profitable interest rate for you
Banking is the process of receiving some amount of money in order to provide the safety and security to the clients or customers and at the same time, the profitable amount is also been provided to the customers depending upon the amount of money which is being deposited. Banks provide many features to their customers to provide them ease for processing transaction. These list of features are as ATM, LOCKER, and many others. SCRAP FILTER contains the list of multiple banks with their rate of interest for the savings account.
In India first bank was established in the year 1839 by some of the MERCHANTS and thus the bank is named as the “UNION BANK” but due to the economic crisis in the year 1848-1849, this bank couldn’t sustain further. whereas in the year 1865 another bank was opened as the joint-stock bank which was named as the “ALLAHABAD BANK” and this sustain till today also and hence it is recognized as the oldest bank of INDIA. Below is the list of such banks with their necessary details and defined rate of interest:-
Digibank is the digital bank which was introduced by DBS BANK [devlopment bank of Singapore]. Digibank is the bank which is being operated just by the smartphone of the users. It is the first bank in India which is to be managed without any paperwork and even without signs. The account in the Digibank is to be inaugurated just with the use of Aadhar card and Pan card as these are the biometric ID. Security in the Digibank is being managed with the help of dynamic inbuilt security.
- The interest of 6% on the sum of rupees up to 1 lakh.
- The interest of 7% on the sum of rupees from 1 lakh to 2 lakh.
- The interest of 5% on the sum of rupees from 2 lakh to 5 lakh.
- The interest of 4% on the sum of rupees above 5 lakh.
As the bank is an online bank so the transaction cannot be executed both by cash and cheque mode. Unlimited atm withdrawals are also the profitable key feature which is introduced in this banking system.
KOTAK MAHINDRA BANK:-
Kotak Mahindra Bank was established in the year 1985 by UDAY KOTAK [Chairman and Managing director] finally in the year 2003 bank mentioned above get the License for banking by Reserve Bank of India. The headquarter is of this bank is in Mumbai, Maharashtra India. In the year 2015 ING VYSYA bank was being merged into the Kotak Mahindra Bank with the deal amount of rupees 15,000 crores.
- Interest rate of 5% is offered to the customers upon the amount of rupee 1 lakh.
- Interest rate of 6% above 1 lakh to 1 crore.
- Interest rate of 5.5% for the amount of rupee 1 crore.
For implementing above mentioned benefits Kotak Mahindra Bank introduces a new saving account with the name 811 which can be opened up just in 5 minutes and the key feature is that it is ZERO balance saving account so it is easy to maintain. 811 saving account provides many specialties such as the virtual debit card for online shopping, scan, and pay option is also provided to make payment at various stores.
Axis bank was established in the year 1993 collectively by the Specified Undertaking of Unit Trust of India (SUUTI). It was known as the Unit Trust of India at that time. Unit Trust of India is comprised of many profitable corporation sectors in it such as Life Insurance Corporation of India (LIC), General Insurance Corporation of India (GIC) and some others also. It is the only individual private sector bank which commenced in the year 1994.
- Interest rate of 3.5% on the sum of rupees less than 50 lakhs.
- Interest rate of 4% on the sum of money 50 lakh to 100 crores.
- Interest rate of 6% on the sum of money above 100 crores.
For availing above benefits mentioned Axis bank introduces a new saving account named as ASAP[as soon as possible] account which can be opened up with just 3 simple steps with the usage of Mobile no, Aadhar card, and Pan card just in 3 minutes.
Visit SCRAP FILTER to grasp much new exciting information!!!!!