What is the interest rate on a savings account?

The interest rate on a savings account can vary depending on the bank or financial institution. In India, the interest rates on savings accounts generally range from 2.5% to 6% per annum. However, some banks may offer higher interest rates for customers who maintain a higher minimum balance in their savings account or have a longstanding relationship with the bank. It's important to compare interest rates and fees across different banks before opening a savings account to find the best option that suits your financial needs.