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Your savings account interest rate matters more than you think. On a balance of ₹5 lakh, the difference between 2.7% (SBI) and 7% (AU Small Finance) is ₹21,500 per year — that's real money.
Top 5 by Interest Rate
1. AU Small Finance Bank: 7.25% (up to ₹25 lakh) | 2. Unity Small Finance Bank: 7.00% | 3. Equitas Small Finance Bank: 7.00% | 4. Jana Small Finance Bank: 6.50% | 5. Ujjivan Small Finance Bank: 6.50%.
Traditional Banks
SBI: 2.70% | HDFC: 3.00% | ICICI: 3.00% | Axis: 3.00% | Kotak: 3.50% (on balances above ₹1 lakh).
Digital-First Options
Fi Money (backed by Federal Bank): 5.50% | Jupiter (backed by Federal Bank): 5.50% | CRED Mint: Up to 9% (but this is a debt fund, not a savings account).
Should You Switch?
If you keep ₹2 lakh+ in savings, switching from SBI (2.7%) to AU SFB (7.25%) earns you ₹9,100 more per year. Small finance banks are equally safe (RBI regulated, DICGC insured up to ₹5 lakh).
Things to Check Before Switching
1. Minimum balance requirement (₹0 to ₹10,000 depending on bank). 2. UPI/NEFT/IMPS availability. 3. Debit card benefits. 4. Mobile app quality. 5. Branch access if needed.
Compare on KarCompare
Use our Savings Account comparison page to see all rates side-by-side with minimum balance requirements and digital features.
