FAQs
Currently, no banks are offering 7% interest on savings accounts, but some do offer a 7% APY on other products. For example, OnPath Federal Credit Union currently offers a 7% APY on average daily checking account balances up to and under $10,000.
Which bank gives 7% interest rate? ›
State Bank of India (SBI): SBI offers its highest interest rate of 7 percent when fixed deposit tenure is between 2 to 3 years. Deposits with tenure between 3-5 years, the state lender offers 6.75 percent.
Which bank was offering a 7 interest on savings account? ›
This account is only available to first direct 1st Account customers. Find out more about our 1st Account. Our Regular Saver gives you a 7.00% AER/Gross p.a.
Which nationwide account pays 8% interest? ›
How does the Nationwide Regular Saver account work? The latest Nationwide Flex Regular Saver account, paying 8%, has been on sale since 21 September. To open it, you need to have one of the following Nationwide current accounts: FlexPlus, FlexDirect, FlexAccount, FlexStudent, FlexGraduate, FlexBasic or FlexOne.
Where can I make 7% interest on my money? ›
As of May 2024, no banks are offering 7% interest rates on savings accounts. Two credit unions have high-interest checking accounts: Landmark Credit Union Premium Checking with 7.50% APY and OnPath Credit Union High Yield Checking with 7.00% APY.
Which bank gives 8% interest? ›
Among scheduled private sector banks, DCB Bank and RBL Bank offer the best FD interest rates of up to 8.00% p.a. Among scheduled public sector banks, Punjab National Bank, Union Bank of India, Bank of Baroda, Canara Bank, Bank of India, Indian Bank and Punjab & Sind offer interest rates of up to 7.25% p.a.
Which bank gives 9 percent interest? ›
Unity Small Finance Bank offers FD interest rates ranging from 4.50% to 9% for tenures maturing between 7 days and 10 years to general citizens. The highest interest rate of 9% is offered on FDs maturing in 1001 Days. The rates are effective from October 9, 2023.
Which bank is offering 7.5 interest rate? ›
Fixed deposit interest rates on five-year deposits
Bank | Interest on 5-year FDs | Interest on 5-year FDs: Senior Citizens |
---|
Bank of Baroda | 6.5% | 7.5% |
SBI | 6.5% | 7.5% |
HDFC Bank | 7% | 7.5% |
Kotak Mahindra Bank | 6.25% | 6.25% |
2 more rowsMay 14, 2024
Who pays 7% interest? ›
The only financial institution account currently advertising interest payments above 7% is available from Landmark Credit Union, a credit union with more than 30 locations in Wisconsin that also offers its services online. The credit union's Premium Checking account lists potential interest earnings up to 7.50% APY.
Are regular savers worth it? ›
Regular savings accounts tend to pay the highest rates of interest among cash savings accounts, but there are certain restrictions involved. Most have low maximum investment limits – you'll only be able to pay in a certain amount each month, and the overall maximum will likely be capped too.
Institutions such as HDFC Bank, ICICI Bank, and State Bank of India (SBI) are known for their attractive interest rates and substantial branch networks. Kotak Mahindra Bank is known for its digital financial services, whereas Axis Bank provides flexible savings alternatives.
What is the highest savings account right now? ›
Our Top Picks for the Best High-Yield Savings Account Rates
- Newtek Bank Personal High Yield Savings Account: 5.25% APY.
- BMO Alto Online Savings Account: 5.10% APY.
- Betterment Cash Reserve Account: 5.50% APY for new customers' first three months, then 5.00%
- Synchrony High Yield Savings Account: 4.75% APY.
Where can I get 8% on my savings? ›
Competition among financial firms for a slice of the nation's savings is intensifying, with Nationwide launching an account paying a “market-leading” 8% interest. A string of Bank of England interest rate rises since late 2021 have pushed up savings rates across the board.
Which bank is giving 7% interest in savings accounts? ›
There are not any banks offering 7% interest on a savings account right now. However, two financial institutions are paying at least 7% APY on checking accounts: Landmark Credit Union Premium Checking Account, and OnPath Rewards High-Yield Checking.
Who pays 7% interest on savings? ›
The only financial institution account currently advertising interest payments above 7% is available from Landmark Credit Union, a credit union with more than 30 locations in Wisconsin that also offers its services online. The credit union's Premium Checking account lists potential interest earnings up to 7.50% APY.
Can I earn 7% on my money? ›
But it's a rare account that earns a 7.00% annual percentage yield (APY). There aren't any traditional banks offering a 7% interest savings account in the U.S., but you will find some credit unions that offer checking accounts and certificates with rates near or above 7.00% APY.
Who pays 7 interest? ›
If you're with one of these banks, you could be missing out on up to 7% interest on your savings
Provider | Product | Interest Rate (AER) |
---|
First Direct | Regular Saver | 7% |
Skipton Building Society | Member Regular Saver (Issue 3) | 7% |
Nationwide Building Society | Flex Regular Saver (Issue 3) | 6.50% |
Lloyds Bank | Club Lloyds Monthly Saver | 6.25% |
Feb 6, 2024
Which bank pays the highest interest on a savings account? ›
Best Savings Account Interest Rates for Deposits from Rs. 5 Lakh to Rs. 10 Lakh
Bank | Interest Rate (p.a.) |
---|
Utkarsh Small Finance Bank Limited | 7.50% (Incremental balance above₹ 5 Lakh upto ₹50 Lakhs) |
Suryoday Small Finance Bank Limited | 7.25% |
DCB Bank Ltd. | 5.25% |
Bandhan Bank Ltd. | 6.00% |
6 more rowsMay 15, 2024