Up to 7% savings account interest rate: Check latest rates offered by Canara Bank, Bank of India and IDFC FIRST Bank

Many banks such as Canara Bank, Bank of India and IDFC FIRST Bank revised their savings account interest rates in September 2026. Here is a look at the latest savings account interest rates offered by Canara Bank, Bank of India and IDFC FIRST Bank.

Canara Bank savings account offers interest rates varying from 2.50% to 3.55% based on the balance in the account. The bank is offering a 2.50% interest rate per annum on balances up to Rs 100 crore. The rate increases to 2.65% for balances between Rs 100 crore and less than Rs 300 crore.

The interest rate is 3.10% on balances of Rs 300 crore to less than Rs 500 crore and 3.40% on Rs 500 crore to less than Rs 1,000 crore. Customers maintaining balances of Rs 1,000 crore to less than Rs 2,000 crore will earn a 3.55% rate, while the highest rate of 4% per annum is available on balances of Rs 2,000 crore and above.

The revised savings deposit rates are effective from September 1, 2026. The bank offers an interest rate of 2.50% per annum on balances up to Rs 50 crore. For balances above Rs 50 crore and up to Rs 250 crore, the interest rate is 2.60% per annum. The rate increases to 2.75% for balances above Rs 250 crore and up to Rs 500 crore.

Customers maintaining balances above Rs 500 crore and up to Rs 1,000 crore will earn a 3.00% per annum rate. The rate is 3.15% on balances above Rs 1,000 crore and up to Rs 1,500 crore.

For balances above Rs 1,500 crore and up to Rs 2,000 crore, the interest rate is 3.30% per annum. The rate rises sharply to 4.75% on balances above Rs 2,000 crore and up to Rs 2,500 crore.

The interest rate is 5.70% on balances above Rs 2,500 crore and up to Rs 3,000 crore, while balances above Rs 3,000 crore earn the highest rate of 6.25% per annum.

IDFC FIRST Bank revised the savings account interest rates effective from September 1, 2026. The bank is offering a savings account interest rate of 2.50% per annum on balances up to Rs 3 lakh. On balances above Rs 3 lakh up to Rs 25 lakh, the savings account interest rate is 7.00% per annum. The rate is 6.25% on balances above Rs 25 lakh and up to Rs 5 crore.

On savings account balances above Rs 5 crore, the bank offers an interest rate of 5.00% per annum.

HDFC Bank, ICICI Bank, State Bank of India offer a 2.50% rate each on their savings accounts across balances.

Other than them, Axis Bank also offers a 2.50% rate on a savings account balance below Rs 2,000 crores. Punjab National Bank offers the savings account interest rate ranging from 2.50% to 4.25%, depending on the balance. Note – these banks did not revise their savings account interest rates in September 2026.