Instead of having idle funds in Savings Bank(SB) account, it is advised to move most of them to High Yield Savings Account(HYSA) in the US.
What is the equivalent of such accounts in India ? @rupeshmandal @ShubhS9 @Neelesh @Bhuvan
no such specific thing, just search for high interest savings a/c.
IDFC First offers upto 7%, there are some others too. All are small banks.
The big banks dont indulge in this.
You can use FD features like OD facility, loan against FD, partial withdrawal etc
RBL bank - Tiered rates from 4.25 to 7.50%
Equitas - Tiered rates from 3.50% to 7.80%
Ujjivan sfb - Tiered rates from 3.5% to 7.5%
Fincare sfb - Tiered rates from 3.50% to 7.5%
IDFC - Tiered rates from 3% to 7%
Hdfc and Icici - 3%
SBI - 2.70%
Indus Ind - 3.5% to 6.75%
UCO bank - Tiered rate 2.60% to 2.75%.
For tiered slabs, check their websites.
What is the interest rate for this scheme in the US ?