Saving Banks
Premium Savings Account
HDFC Bank
Interest Rate: 3.5%
Min. Balance: ₹10000
ATM Transactions: Unlimited free
Net Banking: Free
Special Features:
- Free Locker facility
- Free Demand Drafts
- Relationship manager
- +1 more
Digital Savings Account
ICICI Bank
Interest Rate: 3.6%
Min. Balance: ₹0
ATM Transactions: 5 free per month
Net Banking: Free
Special Features:
- Zero balance account
- Virtual debit card
- UPI auto-pay
- +1 more
Basic Savings Account
State Bank of India
Interest Rate: 3.0%
Min. Balance: ₹1000
ATM Transactions: 10 free per month
Net Banking: Free
Special Features:
- Multi-city cheque books
- Free SMS alerts
- RTGS/NEFT free
- +1 more
Youth Savings Account
Axis Bank
Interest Rate: 3.4%
Min. Balance: ₹500
ATM Transactions: 5 free per month
Net Banking: Free
Special Features:
- Movie ticket discounts
- Special youth offers
- Free personal accident insurance
- +1 more
Senior Citizens Account
Punjab National Bank
Interest Rate: 3.8%
Min. Balance: ₹1000
ATM Transactions: Unlimited free
Net Banking: Free
Special Features:
- Higher interest rate
- Doorstep banking
- Free health check-up
- +1 more
High Interest Savings
Small Finance Bank
Interest Rate: 7.0%
Min. Balance: ₹5000
ATM Transactions: 3 free per month
Net Banking: Free
Special Features:
- Highest interest rates
- Quarterly interest payouts
- Limited ATM network
- +1 more
How to Choose the Right Savings Account
Factors to Consider
- Interest rates and how they're calculated
- Minimum balance requirements
- ATM access and transaction limits
- Online and mobile banking features
- Branch and ATM network locations
- Account maintenance fees
- Additional benefits like insurance or discounts
Tips for Maximizing Your Savings
- Set up automatic transfers to your savings account
- Consider accounts with higher interest rates for larger deposits
- Avoid accounts with high minimum balance requirements if you can't maintain them
- Look for accounts that compound interest daily rather than monthly
- Check if the bank offers relationship benefits for multiple accounts
- Take advantage of special offers and promotional rates