What is the interest rate on savings account in Bhutan? Do all the banks in Bhutan give same interest on savings account?

Are you looking for a savings account in Bhutan for a high cashback? If so, you have come to a right place.

I will take the savings account rates of our banks as they shared in their websites or brochures and test if the rates are true.

The above given table shows interest rates on savings account currently offered by the commercial banks in Bhutan.

I carried out the test from the perspective of customers. I pooled money from my friends and relatives. Few are their accounts.

Bhutan National Bank

BNBL offers 2 kinds of savings accounts; normal and pensioner savings accounts. They both have 4.5% interest. But I tested the normal savings account.

The savings account with BNBL earned 0.362% interest for November. It will be 4.350% in a year.

Bank of Bhutan

Bank of Bhutan has three types of savings account in Bhutan. Its normal savings and young savers account have interest of 4.50%.

The interest for the Empower Saving Account is more by 0.25% than that of other two savings accounts.

This account earned interest of 0.369% for November. If we calculate for 12 months, it is 4.428% interest.

Bhutan Development Bank

BDBL offers the highest no. of savings accounts in Bhutan with a varying interest rates. Group individual savings account has the highest at 6.10% interest rate.

Its normal savings account earns 5.40%. The rate is the lowest across its various savings accounts. But it is the highest interest rate for savings account in Bhutan.

The interest rate for above BDBL Savings Account in November comes to 0.444%. So, it will be 5.327% interest in a year.

T Bank

TBL website mentions that the bank gives 5.25% on savings account and 5.75% for a pensioner savings account.

In T Bank Ltd, savings account earned 0.432% for this November month. If we do for a year, it will be 5.178% interest.

Druk PNB Bank

Druk PNB Bank also offers one type of savings account called as Saving Funds Account. The interest on its savings account is 5%.

The above savings account maintained with DPNBL earned an interest of 0.411% for Nov. It will be 4.931% interest in a year.

Which Bank is Better?

Let me show annual savings account interest rates given by all the banks in Bhutan based on this month’s rates:

This proved that Bhutan Development Bank Ltd gives the highest interest on savings account in Bhutan.

If you want to get maximum interest on your money kept for emergency fund or other short-term needs, better to keep them with BDBL.

However, these rates are during this test period. I am not sure if they give those rates as annualized rates, which will need another test.

In which banks you have savings account? Would you move your money now or keep with existing bank? 

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