Which bank gives 7% interest on savings account?
Which bank gives 7% interest on savings account?
The bank is now providing savings account holders with a maximum rate of 7% on savings bank deposits of more than 1 lakh and up to 50 lakhs, effective March 4, 2022.Jana Small Finance Bank.
Savings Account Balance
Interest Rate Per Annum
More than 50 Lakhs and Upto 50 Crores
6.50%
More than Rs. 50 Crores
6.50%
Jana Small Finance Bank.
| Savings Account Balance | Interest Rate Per Annum |
|---|---|
| More than 50 Lakhs and Upto 50 Crores | 6.50% |
| More than Rs. 50 Crores | 6.50% |
What is the average return on a TFSA?
That’s because—according to research conducted by the Bank of Montreal—65% of Canadians with a TFSA parked an average of $17,133 in cash accounts (as opposed to any type of investment), where they’re typically earning an average return of 1% or less a year.
What is the highest interest rate for a TFSA?
EQ Bank offers a TFSA savings account that holds different types of investments with a 2.00% return—currently the highest regular interest rate on any savings account in Canada, and even managing to beat out the limited-time promotional offers by the big banks.
Is TFSA better than RRSP?
The major difference between RRSP and TFSA accounts centres around tax implications. RRSPs offer a tax deduction when you contribute, but you have to pay tax when you withdraw the money. TFSAs offer no up-front tax break, but you don’t pay tax on any withdrawals, including growth.
