When it comes to opening the Best Saving Bank Account we are faced with a wide selection to pick up our pick. However, our choice is that we first need to identify our needs based on our current financial situation, current banking habits, and to reduce one’s future needs. You can evaluate options based on a customer-centric bank offering good interest rates, net banking options, deposits and withdrawals, a wide network of ATMs in individual banker services, flexibility, and overall convenience. Know about Checking Accounts.
Senior Citizen, Female, Student, or Child’s Best Saving Bank Account Regularly – You can choose under the Saving Bank Account option. In our evaluation, we will analyze banks in relation to interest and services rendered. With the recent failure of Yes Bank and PMC Bank, deposit holders also need to evaluate the financial condition of these banks.
Read Also- A beginner’s guide to Banking
Best Savings Bank Account in India
#1. Kotak 811 Savings Account
In terms of the best savings bank account, this bank offers a variety of account facilities. The main savings bank accounts are Savings Edge, Saving Pro, and Savings Ace where AMB (average monthly balance) is 10K, 20K, and 50K respectively to maintain the needs. The average interest offered is 4.5%.
- You can access your account via net banking or mobile banking at no extra cost
- Kotak Mahindra Bank ATMs give you easy access to your money all over the country.
- One can set up the account for automatic utility bill payments.
- Scan & Pay facility for in-store purchases
- In-app features are also available – Shop online using Flipkart, Book travel tickets using goibibo or Book movie tickets with PVR
- In case you are unable to visit the branch, they do have a Home banking facility at a nominal charge.
Benefits of Kotak 811 Account–
- Instant account opening
- Zero balance account
- Virtual debit card (with an option to get physical debit card)
- The whole accounting process is paperless
| Monthly Average Balance | 0 |
| Rate of Interest | Up to 4% |
| Account Opening Process | Online through website |
| Channel of Access | Mobile, Netbanking, Branch & ATMs |
| Ease of use | Average |
#2. ICICI Bank Savings Account
ICICI Bank offers one of the best customer services in the major banks and industry. The ICICI Bank savings account I enjoy seamless mobile banking services through mobile applications. They have recently launched the PayLater facility.
Some of the features of ICICI Bank Regular Savings Account:
- Complimentary Smart Shopper Silver Debit card
- Money Multiplier Facility for fixed deposit balances
- The anywhere banking facility at the network of 4,800+ branches and 14,300+ ATMs across India.
- Internet & Mobile Banking facility
- Free email statements
- Minimum Account Balance requirement: Rs 10000 in metro & urban locations; Rs 5000 in semi-urban locations and Rs 2000 in rural locations and Rs 1000 in Gramin locations.
Best Savings Account Options by ICICI Bank–
- ICICI Regular Savings Account
- The ICICI Silver Savings Account
- ICICI Gold Privilege Savings Account
- ICICI Titanium Privilege Savings Account
| Monthly Average Balance | Rs. 10,000 to Rs. 1,25,000 (depending on variant) |
| Rate of Interest | Up to 50 Lac – 3.00% Above Rs. 50 Lac- 3.50% |
| Account Opening Process | Online and Branch visit |
| Channel of Access | Mobile, Netbanking, Branch & ATMs |
| Ease of use | User-friendly and easy |
#3. HDFC Bank Savings Account (For Best Products)
HDFC Bank has determined the leading banking services and products where specific price, called a set of benefits of banking services and lifestyle.
Key banking customized solutions for related needs
- Investments in equity & mutual funds,
- Tax payments,
- Insurance
- Portfolio management services.
All major banking needs is done by a dedicated relationship manager.
To take advantage of key banking services, you need a high monthly average balance in your savings account. Which starts at Rs. 1 to Rs classic major banking million. 10 lakhs for Imperia Premium Banking.
Best Saving Accounts from HDFC Bank
- HDFC Savings Max Account
- The HDFC Regular Savings Account
- HDFC Basic Savings Banks Deposit Account
- HDFC DigiSave Youth Account
| Monthly Average Balance | Rs. 5,000 to Rs. 25,000 (depending on variant) |
| Rate of Interest | Up to 50 Lac – 3.0% Above 50 Lac- 3.5% |
| Account Opening Process | Online and Branch visit |
| Channel of Access | Mobile, Netbanking, Branch & ATMs |
| Ease of use | Average |
#4. Citi Bank Savings Account
Citibank can easily meet their family members and close global banking needs of relatives. You will get support from 4,000 Citibank branches in 42 countries for all their banking needs whenever you want.
Citibank has robust fund remittances solutions like
- Citi Global Transfers
- Wire Transfers
- Automated Clearing House
- Foreign Currency draft
In which you can send money above Rs. 3 lakhs per day or get Rs. Citibank to family members that 30 million foreign accounts daily from your Citibank account.
Best Citibank Savings Account
| Savings Account | Net Relationship Value Required over 3 months |
|---|---|
| Citi Bank Savings Account | Rs. 15 Lacs |
| Citi Priority Savings Account | Rs. 15 Lacs |
| Citigold Savings Account | Rs. 75 Lacs |
| Citigold Private Savings Account | Rs. 5 Crores |
The details for the savings bank account are
| Rate of Interest | Up to 1 Lac – 2.5% Above 1 Lac- 2.5% |
| Account Opening Process | Online through website |
| Channel of Access | Mobile, Netbanking, Branch & ATMs |
| Ease of use | Average to poor |
#5. Axis Bank Savings Account
I do not have any personal experience with Axis Bank, but I think that Axis Bank awards points only to transactions associated with that account. Like you can earn reward points to open a standing instruction, RD or demat account to ECS.
Opening a savings account you get the added benefit of access to the Amazon, Zee5, Gunn and Uber free Times Prime subscription offers and cashback on.
Axis Bank also offers two different sets of savings bank account. Easy access and the balance of short account of the requirements and with the Prime Minister, priority and Burgundy prime with high balance requirements.
Best Axis Bank Savings Account
| Savings Account | Minimum Average Balance |
|---|---|
| Axis Easy Access Savings Account | Monthly Rs. 10,000 (metro/ urban) to Rs. 5,000 (semi-urban) |
| Axis Prime Savings Account | Monthly Rs. 25,000 (metro/ urban) to Rs. 10,000 (semi-urban) |
| Axis Prime Plus Savings Account | Monthly Rs. 1 Lac |
| Axis Priority Savings Account | Quarterly Rs. 2 Lacs |
| Axis Burgundy Savings Bank Account | Quarterly Rs. 10 Lacs |
The details for the savings bank account are
| Rate of Interest | Up to 50 Lac – 3.0% Above 50 Lac- 3.5% |
| Account Opening Process | Online, Physical Branch Visit |
| Channel of Access | Mobile, Netbanking, Branch & ATMs |
| Ease of use | Average |