Do you know which bank account is best for savings account in India ?. This is one of the primary question, we ask ourselves at the time of opening saving account . There are no stra
ightforward answer of this question. The best banks for saving account in India, will vary on different parameter like high-interest rates, zero balance , offers on debit cards, international debit card, mobile apps, customer service and global reach.To pick-out , which bank account is best for you saving account, you need to decide how you’ll use it, What is important features, you need it, It will be Zero Balance account or high value transaction account. are you able to give answer of above question ?
Forget it, I will try create Question and answer for you ?
Suppose, you landed a job in start-up company after completing your education, you need to open saving account urgently for crediting you monthly salary in account because your company do not have any tie-ups with banks to open zero balance salary account for its staff.
Option (1).You are thinking that you should open with ICICI or HDFC but here are problem, you do not have sufficient balance for opening and maintaining Minimum balance account in ICICI bank or HDFC ( You need to maintain at least Rs.10,000/- in HDFC or ICICI for regular saving account)
Option (2). You wanted to have a better customer care experience, offers on debit cards like cashback on online shopping and have a latest technology-enabled banking, so you fully wanted to avoid PSU banking account.
I have done in-depth research on major Indian banks for finding, Which bank account is best for savings Account in India ?, on the below parameter.
(a). High-interest rates (b). Minimum Debit card Charges (c). Card can be enabled for International transaction (d). Customer service and global reach (e) Minimum Average Balance

Here is the list of 10 Best banks for savings account in India 2021
Bank Account Name | Minimum Balance | Best For ? |
---|---|---|
fi bank account | Nil | Best Digital Account with Zero Charges on Debit Card |
ICICI Bank Savings Account | Nil/Rs,10,000 | If you want to experience Best Technology with Regular Bank |
HDFC Bank Savings Account | Rs.10,000 | Best for Banking product & Services |
DBS Bank Savings Account | Rs.5000 | Best for Global Presence (Asia-Pacific) |
RBL Savings Account | Nil with Condition. | Best for highest interest rate |
Kotak Savings Account | Nil/Rs.10,000 | Best for 3-in-1 account with Kotak Securities |
Deutsche Bank Savings Account | Nil | Best for Global Presence |
Aeldra USA bank Account | Nil | Best for Global Investment |
SBI Saving Account | Nil/Rs.5,000 | Best government bank |
Standard Chartered Bank | Nil/Rs.25,000 | Best for personal Loan |
Let’s review the top 10 Best banks for savings account in India 2021
#1.fi bank account
Fi is a Digital banking app with a zero balance savings account, fi money offer this account to Individual resident in India in partnership with Federal Bank. fi bank account can classified as ‘neobank’. Emboldened by cutting edge technology Fi helps you know your money, grow your money and organize your funds.

Founded in 2019, Fi bank account is brainchild of ex google employee, who had pioneered Gpay.
Here is the summary if Fi Bank Account
Features
- Money insured up-to Rs.5 lakh : Your fixed deposit and saving account balance is insured up to Rs.5 lakh. As per RBI guidelines, all deposit with commercial banks and co-operative banks are insured under the deposit insurance and Credit guarantee corporation.
- No minimum balance : Its truly zero balance account, no need to maintain any minimum balance account with them. You can get rid of low balance problem.
- Zero forex markup: Gone are the days, when you paid 3.5% forex charges on international transaction, you can do international transaction without any forex charges with Fi Money Debit card.
- Withdraw from any ATM : You can withdraw money from any ATM without any charges.
- Interest Rate : You save on your terms with interest up-to 5.1%
Fi money is a Best Digital Account with Zero Charges on Debit Card, if you are looking for Zero balance account with Free Debit card, this saving account is best for you.
#2. ICICI Bank Savings Account
ICICI is one of the best bank operating in India and opening saving account with them are super easy. ICICI Bank is leader when it comes to launching innovative products , for example Zero saving balance account, Co-branded credit card like Amazon Pay credit card, railway lounge access etc..
Here are best ICICI saving Bank account, you can wish to open..
- ICICI Regular Savings Account
- ICICI MINE Saving Account
- ICICI Insta Save Account
ICICI Regular Savings Account
Opening a saving account with ICICI Bank is like having a banking at fingertips with 200+ banking services offered online. ICICI Bank is the leader in its Industry.
The Minimum monthly average balance (MAB) is Rs.10,000 for Metro and Urban locations, Rs.5,000 for Semi-urban locations and Rs.2,000 for Rural locations.
ICICI MINE Saving Account
ICICI MINE Saving Account is a fully digital Zero Balance Account targeted to millennials in Indian. The account number is generated instantly, you can transact instantly, and you will get an instant banking experience.
You can open this account if do not have prior relationship with ICICI bank.
ICICI Insta Save Account
ICICI Insta Saving Account is a fully digital Savings Account maintained and operated by ICICI bank. You can open this account within 4 minutes from home without visiting a bank branch. There is two variant of Insta Save Account and Insta Save FD Account.
You can read the detailed about Best Zero Balance ICICI bank account here.
#3. HDFC Bank Savings Account
When you think about HDFC Bank, then you see Best product in the market, Best Credit Card, Payment App like, Payzapp, Best Saving shopping portal like Smart-Buy etc..
Below are the Unique product issued by HDFC Bank.
(A).HDFC Diners Club Black Credit Card
HDFC Diners Club Black Credit Card is one premium credit card issued by HDFC Bank that stands in par with HDFC Infinia credit card. The Credit card has been hosted on diners club international.
Through Diners club black credit card, you can saves up-to 33% on most of your travel & shopping expenses.
(B). The Hdfc Bank Infinia Credit Card is sure to win your hearts with its offerings when it comes to rewards points, travel, and lifestyle.
This super-premium credit card enables you to earn benefits that are not comparable to any other card in the industry. It offers unlimited Lounge access benefits not only to primary cardholders but also to Add on cardholders also.
It is one of the best credit cards in India that every credit holder wants. You can read the detailed review about this credit card here.
(C). Smart-Buy
Smart-Buy is portal run by HDFC Bank, where you can book flight tickets, Buy Instant Voucher at discounted price etc.
(D). HDFC Insta Loan on Credit Card
This loan are pre-approved loans for credit card holders of HDFC Bank. The pre-approval is given based on various rating criteria of the bank, which may include your credit score and others
Read More: How to PNB Account Online
Best Saving Accounts from HDFC Bank
HDFC Basic Savings Bank Deposit Account (BSBDA) Small Account
HDFC Basic Savings Bank Deposit Account (BSBDA) Small Account is for the person who does not want to maintain the Minimum required Balance in an account. Under this account, you can maintain up to Rs.50,000 balance.
HDFC Regular Savings Account
You need to maintain Monthly Average Balance of Rs.10,000 to open regular saving, all features of HDFC Bank are included in regular saving account.
Women’s Savings Account
A savings account tailored for the woman of today – enjoy special benefits like preferential pricing on products including loans, offers & cashback on shopping and free insurance cover. All the benefits are same except some (A). Accidental Death Cover of Rs. 10 lakhs and (B).Accidental Hospitalization Cover of Rs. 1 lakh.
#4. DBS Bank Savings Account
Digibank Savings Account is a fully digital account that your mobile can open, manage, and operate. You can open Digibank Savings Account instantly by downloading Digi Bank app on your mobile. It is not a zero-balance account. You need to maintain an Average Minimum Balance (MAB) of just ₹5000.
Some of the Best Features of DBS Saving account are……….
- Instant account opening
- Minimum balance account
- Integrate all your savings account
- No need to enter OTPs
- Instant Sharing of Account Details
- Goal-Based Savings
- Contactless Payments
- Track Your Spends Across Categories
- Easy Saving and investment options.
- Get Insurance easily
- Pre-approved personal Loan
You can read the Detailed features and Benefits of DBS Bank Savings Account here.
#5. RBL Savings Account
Th saving interest rate of RBL Saving account is up-to 6.25% and FD Interest Rate is 6.50% which is highest among among schedule bank. Even the Best banks in terms of capitalization like ICICI Bank, Kotak Mahindra Bank, HDFC Bank do not have interest rate above 5%.
You can earn good amount of Interest by having Fixed Deposit in RBL bank.
RBL Bank offer Digital Saving that can open online without visiting Bank Branch. Even you do need to maintain Average monthly Balance in bank if you do an SIP or RD for a minimum amount of Rs. 2,000
Benefits of RBL Digital Savings Account
- No charges on non-maintenance of balances
- Instant and paperless
- Higher interest rates to 6.50%
- Anytime banking
- Virtual Debit card
The account opening process is very simple, you just need PAN card and Mobile updated Aadhaar card.
Here are the steps of opening RBL Bank Saving Account
- Provide Aadhar and PAN details
- Choose an account variant
- Update personal details
- and finally after KYC verification, account details is mailed to you at registered mail along with Virtual Debit Card.
#6.Kotak Savings Account
Kotak Bank offers Regular Saving account, Premium Saving Account and Zero Balance Saving account. The Average monthly balance of regular Saving account is Rs.10,000. However Kotak Bank also offer Zero Balance saving account which is the Benchmark for the Industry.
Kotak 811 Savings Account
The Kotak 811 Savings Account is one of Best and Zero Balance account offered by Kotak Mahindra bank. You can open Kotak 811 Savings Account by your PAN Card and Aadhar No.
After online process , you just need to complete KYC through a video call in a single go. Your account will be activated within a few steps.
The Saving bank account interest rate is also more than ICICI Bank Saving account, HDFC Bank Saving account.
Benefits of Kotak 811 Savings Account
- Earn up-to 4% Interest P.A on saving account balance
- Zero Charges on non-maintenance of balance in saving account.
- You will instantly get 811 Virtual Debit Card.
- ActivMoney## Auto Sweep in Facility
ActivMoney (Auto Sweep) is a facility of automatically sweeping out funds above a pre-specified threshold from your 811 Savings Account to a Term Deposit (TD) Account for 180 days. In case of insufficient balance in the account, the TD will be broken prematurely and the required amount will be transferred to the Account.
#7. Deutsche Bank Savings Account
Deutsche Bank is foreign bank operating in India. If you want global presence of your account, then Deutsche Bank is Best.
Deutsche Bank offer Regular Saving account and Easy Saving account. In Regular saving account you need to maintain at Least Rs.15,000 per month, however Easy Saving account is free of Charges for non-maintaining of Balance.
The interest rate on saving account is 3% per annum with effect from 5th January, 2021.The interest on Savings Bank Accounts is to calculated on daily product basis
Benefits of Deutsche Bank Savings Account
- Easy balance requirement
- Family banking facilities
- Investment Services
- Free Platinum Debit Card
- Exclusive lifestyle offers
- Free demand drafts, pay orders and payable at par cheque books
- db Online Banking
- E-Statements
One of Demerits of Deutsche Bank Savings Account is, you can not open Saving account digitally. If you want to open Saving account with Deutsche Bank , you need to call on below number.
SMS SAVE to 561615
Call 18602666601
# 8. Aeldra USA bank Account
Aeldra USA bank Account is customized for Indian Peoples. You can open US Bank Saving account without visiting United Sates of America. Aeldra is a Silicon Valley and Bangalore based Fintech providing Banking Services with FDIC Insurance through Blue Ridge Bank .Here is the summary of Aeldra USA bank Account .
Benefits of Aeldra USA bank Account
- FDIC-Insured Up To $250,000 Through Blue Ridge Bank, N.A. Member FDIC
- Compliant With U.S. Regulations And Indian Government Regulations
- Mastercard ID Theft Protection
- Mastercard’s Zero Liability Real-Time Transaction & Security Alerts In-App One-Click Debit Card Lock
- No Minimum Fess or Account maintenance Fees
- No minimum balance requirement.
- Free wire transfer
- Free bank to bank transfer
- Free AeldraPay, real time peer to peer Transfer
- Instant Virtual Debit Card after opening account.
You can open Aeldra USA bank Account if you required Global presence for Investment , Global Expenses etc..
#9. SBI Saving Account
SBI Bank is the largest and oldest government bank in India. It offers wide range saving account such as Regular saving account, Basic saving account and Zero Balance account. Here is the details of Regular saving account.
Benefits of SBI Saving Account
- Mobile banking
- MS Alerts
- Inter-Net banking
- YONO
- State Bank Anywhere
- SBI Quick Missed call facility.
- Restricted free withdrawals based on Monthly Average Balance maintained.
- The facility of transfer of accounts through Internet Banking channel.
- Nomination facility is Available
- Monthly Average Balance: NIL
- No limit on Maximum balance
- Free Consolidated Account Statement
If you need wide range ATM and Branch Network, you may consider SBI Saving account, However, you may face some short services problem.
#10. Standard Chartered Bank
Standard Chartered Bank is also a Foreign bank operating in India. SC Offers Zero balance Saving account, Prime Saving account, Super Value Account, eSaver Saving account. The esaver Saving account offer 5.70% interest rate.
This bank also offer Digital Saving account that can be opened with Help of PAN card and Aadhaar.
Here are some benefits of Digital Saving account \
- Instant Account Opening
- International Platinum Debit Card (free for first year)
- Dedicated Relationship Manager
- Zero Balance Savings Account
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