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Savings Account Benefits

Browse our list of savings account options that come with amazing benefits, select the one that suits you the best!

Minimum Balance

Banks require you to maintain a minimum balance in your savings account, while some do not. Check what suits you, a savings account with minimum balance or a zero balance savings account.

Rate of interest

Avail interest rates up to 7%

Debit card Features

Use your Debit card to make unlimited transactions at all ATMs across India at no additional fee. Also avail exciting offers and discounts on online purchases and various merchants across India.

4.1 / 5 (8 Reviews)

Savings Account: Introduction

A savings account is a deposit account held at a bank or other financial institution where you can store extra cash, earn interest on it and access it whenever required. It is the most basic type of banking instrument used by an individual and among the safest ways to ensure that you can easily access your hard earned money when you need it. You can deposit funds either by cash or cheques into the savings account or can transfer funds from other savings account using IMPS/NEFT/RTGS/UPI and earn interest on such deposits, which is credited to your account on a quarterly basis.


The applicable interest rate offered on a savings account usually ranges from 3.5% to 7% and varies from bank to bank. You are allowed to make withdrawals either by visiting the bank branch and cashing a cheque/withdrawal slip drawn on the account or at an ATM by using a debit card linked to the account. In most cases, you are required to maintain an average minimum balance for the quarter or the month according to the bank's rules and regulations. However, banks also provide zero balance accounts, which come without any complication of maintaining minimum balance in the savings account.

Comparison

Savings Account Minimum Balance Requirement Interest Rate Up To* Savings Account Features
Axis Bank
ASAP Account
Zero Balance Savings Account 7.25%** Auto Sweep Facility
Free Virtual Debit Card
Kotak Mahindra Bank
Kotak 811
Zero Balance Savings Account 6% Free NEFT, RTGS, IMPS
Virtual Debit Card
DBS
digibank
Zero Balance Savings Account 7% VISA payWave enabled Debit Card Unlimited ATM Withdrawals on DBS ATMs
Standard Chartered Bank
Digital Savings Account
Rs. 10,000 3.5% Free Platinum Debit Card for first year
15% discount across 600 restaurants
State Bank of India
Insta Savings Account
Metro & Urban
– Rs. 3000 Semi-Urban
Rs. 2000
Rural
Rs. 1000
4% Paperless account opening (OTP based e-KYC)
Free Rupay debit card
ICICI Bank
Regular Savings Account
Rs. 10,000 4% Smart Shopper Silver Debit card
Money Multiplier Facility
IDFC Bank
Savings Account
Rs. 25,000 4% Free VISA Signature Debit Card
Unlimited Free Fund Transfer
IndusInd Bank
Indus Select Account
Rs. 50,000 6% Lifetime Free Platinum Select Debit Card
No transaction charges at ATMs
IndusInd Bank
Indus Exclusive Account
Rs. 1,00,000 6% Lifetime Free Platinum Exclusive Debit Card
No transaction charges at ATMs
Yes Bank
Savings Exclusive
Rs. 1,00,000 6% Free transactions at ATMs in India

*Subject to various minimum balance requirements which vary for every bank.

*Note: Figures mentioned in the above table are subject to change without prior information.

**Axis Bank savings account offers interest rate up to 6% per annum. But, Axis ASAP savings account comes with auto sweep facility which provides interest rate up to 7.25% p.a. (1 year FD interest rate).

4.1 / 5 (8 Reviews)

Savings Account

Paisabazaar
Savings Account
5/5

Quick and Easy

SBI Savings account is very easy to operate. The services are really good. Paisabazaar is a very nice website, they provide very good online service. I applied for my savings account from the website and it took me very less time to apply. It was a smooth and hassle free experience.

Rina
Posted on: Jan 11 , 2017
Paisabazaar
Savings Account
3/5

Good

I am using ICICI savings account since 3 months. I had applied for my savings account from Paisabazaar and the process was really simple and quick. I did not face any hassle on documentation or while applying for the account. But I feel that the interest rate is a bit low as compared to other banks.

Vinnie
Posted on: Jan 11 , 2017
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