Introduction:
In today’s video, we’re going to check out how to open a zero balance bank account in 2025 and compare the top five banks. We’ll see which bank gives you the most benefits, which one charges less, and which account is actually a true zero balance account. Yeah, lots of people open accounts but later find out the bank is sneaking in hidden charges somehow. I'm going to compare the top five banks for you in a way that clears everything up, so based on your needs, you'll be able to decide which bank account suits you best.
Top High-Yield Savings Accounts in India:
First up on
this list is SBI, which stands for State Bank of India. With this bank, you can
open your account online through video KYC. Plus, your account will be a
zero-balance account. Now, when you open an online account with SBI... This is only possible because offline, if you go inside their branches,
they have a monopoly there. The branch managers often tell you that you have to
fund the account initially. At least ₹3000 has to be funded. Out of that, they
usually add around ₹1500 worth of insurance. So, whenever you open an account,
since you get two options, make sure to choose the option to open an account
online when you go to open one. That means, the video option. You want to open an account through KYC so that you don’t have to buy
any insurance or anything else. Also, you don’t want the hassle of initial
funding or maintaining an average balance. In that case, SBI might be a better
option for you. One big advantage of opening an account with SBI is that it’s a
very old and big bank, and many of us had accounts there even back in our
parents’ time. So, you can easily open your account there. Their branch network
is really extensive, so if you ever need to visit a branch offline, you can do
that anytime.
If you go there
to get some work done, you can easily get it done. Here, you also get the
facility of a physical passbook. There's no need to make any initial deposit.
Let me explain what an initial deposit is. One thing is maintaining an average
balance, and the other is the initial deposit. Banks have introduced this term
recently because many people open accounts but then don’t use them, which
becomes a burden for the banks. Sometimes, you have plenty
of accounts, but there’s no money actually kept in them. So, banks noticed that
people open accounts easily from home for convenience, but then don’t really
use them. Because of this, banks started requiring an initial deposit. Got it?
However, in SBI, there’s no initial deposit needed. Your account will be
activated even with a zero balance. You’ll get a free cheque book, passbook, or debit card with it. Here too, you
can manage your account. You can open it with zero balance.
Now, let's talk
about the second bank, Axis Bank. They have this Amaze account, which is a zero
balance bank account. This account gives you tons of benefits. We'll discuss
those benefits in a bit. But there’s a catch — you’ll be charged ₹200 per month
as rental fees. So basically, it’s like you’re renting the account and have to
pay a service fee every month. I mean, why do we keep money in a savings
account anyway? To grow our money, right?
It’s
increasing, right? But here, they’re charging ₹200 monthly fees. However, if we
consider the services you get in return, it’s actually beneficial. I’ll show
you how it’s a benefit. But because of these charges, the so-called true zero
balance account won’t really be zero balance anymore. This condition is with
Axis Bank. But on the plus side, you get reward features, kind of like the
benefits you get on a credit card. Similarly, you get some benefits on the
debit card too. So, if you’re someone who uses online services a lot, then. Here, you can earn reward points. In many places, you can get cashback
and discounts. So, you get these benefits, and through video KYC, your account
will be opened online. We’ll discuss some more benefits of this later.
Now, let’s talk
about Kotak 811. In Kotak, this category 811 is a zero balance bank account.
Kotak also has other accounts that are not zero balance. However, Kotak hasn’t
set any condition like monthly rent or anything.
You need to
open an account. Your zero balance bank account will remain completely zero
balance. The entire process is fully digital. You can open the account online.
Whether you want a passbook, debit card, or cheque book, Kotak Mahindra Bank provides all of these right
at your doorstep. The interest rate they offer is also quite high. Kotak
Mahindra Bank gives you 5.75% interest because they have a feature called
Active Money that helps increase your interest earnings.
It happens. So, this account is pretty good too. But it has two categories. Let me show you. Not all accounts are zero balance bank accounts, so I’m pointing that out here as well. There are two types in this case too. One is Kotak 811, which you just saw. The other is Kotak 811 Super Account. Now, if you look here, this account is a zero balance bank account. But if you check this one, you’ll see it offers more benefits. That means the Super account gives you more perks. They're saying. But why? Here, you'll see they're talking about a monthly deposit of ₹5,000. Got it? ₹5,000 every month means if you have a salary coming in and you're opening an account, this would be better for you. You get some free services with it. For example, you get a debit card free of cost. Also, a virtual debit card comes free with both accounts. Now, about the daily ATM withdrawal limit: if you open an 811 account, it's ₹25,000. For this one, it's ₹1 lakh. As for the other accounts, there's no. The major difference isn’t much because, as you can see, both NFT and RTGS transactions are free here. The annual program fee is only applied to the ₹5,000 account. So, this account is basically a zero balance account. But an initial funding of ₹1,000 is required. Like I explained, you need to put this initial amount into your account, and once your account is opened, you can withdraw that money anytime. So, it becomes a zero balance bank account.
Now, talking
about the next bank, that’s ICICI Bank. Their basic savings account is also a
zero balance account. But the biggest problem with this zero balance account is
that it’s basically just for show, meant only for the government. In other
words, if you try to open this account online, you won’t be able to. If you
visit their website, the only account you’ll find available is the
‘Three-in-One’ account, which is basically a savings account. Along with this, your Demat and trading accounts are opened together.
All three accounts get opened at the same time. But not everyone really needs
all of them. Whenever you open an account online, they ask for an initial
deposit, which is ₹1 lakh. So basically, the amount is zero, but if you go to a
bank like ICICI, which is known as a big private sector bank, it mostly deals
with wealthy clients. So, the bank itself doesn't really want small customers
coming in. So, earlier you had the option to open a zero
balance bank account online. What used to happen was, you’d deposit some
initial money once, and then your zero balance account would be set up. But
that service has been discontinued now. For a long time, opening accounts
online with ICICI Bank was stopped. Now they’ve started it again, but with
certain conditions. So, basically, you can say ICICI Bank doesn’t offer zero
balance accounts anymore.
The third
option is IndusInd. IndusInd Bank is also a good bank. Whenever you
open an account here and complete your video KYC online, all the services
linked to your account get activated right away. But one thing to keep in mind
is that not all accounts here are zero balance accounts. They have an account
called Indus Delight Savings Account. You get lots of benefits with it, like up
to 5% cashback. Another cool feature is that you can link your account number
to your mobile number if you want.
You can only
create a number, like with our mobile number, you can create an account number
from it. This facility is provided only by IndusInd Bank. Also, here you get
free movie tickets, which are pretty popular. If you spend a lot online, you
get benefits at many places through this. So far, what we've understood is that
all these accounts I've mentioned can be opened through an online process.
Among them, SBI offers zero initial funding, meaning you don't have to put in
any money upfront. You don’t need to make a deposit. But if you open
an account with Axis Bank, like I mentioned, there’s an annual rental fee of
₹2200, which is about ₹200 per month. For that, you’ll need to put an initial
funding of ₹10,000 into the account, and then you’ll pay ₹200 monthly rental.
So, your account will still be considered a zero balance bank account.
Honestly, I don’t see a strong reason to include Axis Bank in this list, but
many people have misunderstandings about it. That’s why I included it here, to
clear things up for you.
So, here’s the
real deal. These accounts get opened online through your
video KYC. But with Kotak 81, your account will open online too. The only thing
is, you need to make an initial deposit of ₹1000. And as soon as your account
is opened with that ₹1000, you can withdraw money immediately. Got it? You can take
out your money anytime via UPI or use your ATM card to withdraw cash from
anywhere. Now, talking about IndusInd Bank, they also offer a zero balance bank
account.
As I mentioned, the IndusInd Bank's Indus Delight savings account is available through MF. It's a completely zero-balance bank account, but you do need to make an initial deposit. The bank wants to make sure genuine people open accounts. They'll keep it zero balance, but only for real customers who actually need the account—not just anyone who completes KYC and then leaves it inactive. As for the debit card, the one you get with SBI is the Classic Debit Card. Here, it's Virtual banking doesn’t really make sense because SBI is a bank that still operates based on how our parents used to manage things. The point is, they don’t make their technology super high-tech, so if a senior citizen comes and says money was taken from their account, they can understand the issue easily. Got it? Now, about the daily withdrawal limit—you get ₹00 within that limit. Talking about Axis Bank, you get a Visa Classic card and also a virtual card here. The first year, the card is free, but after that, you have to pay renewal charges. You can withdraw up to ₹25,000 daily here. Talking about Kotak 811, you’ll get a Visa Classic card. There’s also a virtual card available, and it’s free—no charges for that. But if you want a physical ATM card sent to your home address, you’ll have to pay the fees, which are ₹399 plus GST. If you don’t want the physical card, you can use the virtual debit card to register your UPI on apps like Google Pay or PhonePe. You can use it. There's a daily withdrawal limit of ₹25,000 here as well. As for ICICI Bank, the daily withdrawal limit is ₹500. But the card you get here is a Visa Premium, which is free for the first year, and from the second year onwards, there are charges. Talking about IndusInd Bank's debit card, it's a Visa Delight card. The virtual card is free, and you get the card for free too—no need for a physical card. If you're planning to use it as a secondary account and already have an ATM card, then you don’t really need a separate physical debit card anymore. Here, you can get this card virtually, and it’s free. But if you want a physical card, you’ll have to pay ₹500 for that. It mentions salary here, but it’s not like only salary accounts can be opened. The benefit of a salary account is that the fees get waived. Now, talking about the benefits you get with this – like I told you, with Axis account, you get both a virtual card and a physical card.
You’ll get it,
and you can manage it through your application. That means you’re in control of
when and where to use this card, how much limit to set—it’s all up to you.
Along with that, this Amazon zero balance account, like I mentioned, has a ₹200
monthly fee, but you get a lot in return. So, what do you get? First, a zero
balance bank account, meaning you don’t need to keep money all the time, and
the bank won’t sneak in any hidden charges later. Plus, you get a debit card with
it. You’ll get the benefits. Within a year, you can
save around ₹11,000. Also, any domestic charges or ATM withdrawal transactions
won’t have any fees. You’ll get a free debit card. If you want a cheque book, you can get that too. If you spend up to ₹00,
you’ll earn 2000 reward points on your spending, which you can redeem later. As
for their services, they have a lot of branches—about 250 branches.
It's a service
network, so you can easily find branches. For the ₹200 monthly rent you're
paying, you actually get an Amazon membership worth ₹599 for 3 months. Along
with that, you get 10 complimentary movie tickets worth around ₹4000. You also
get a 3-month membership for SWGI One. So, this account gives you a lot of
benefits. You can get discounts at many places through it. For example, if you
use Uber rides, you can get up to ₹500 off.
Along with
that, Axis Bank does one more good thing: not every account here is a pain. It
costs ₹200, but you get quite a lot in return. You also get insurance included.
For example, there's a personal accident cover of ₹5 lakh. So, if you ever have
an accident, you'll get accident coverage. There's also air accident coverage,
which is a pretty big amount—₹1 crore. You also get purchase protection cover,
meaning wherever you use your card
if there's any
misuse, protection is also provided here. So, quite a few benefits are offered.
You also get lost baggage cover up to $500. In a way, the bank has really tried
to offer a lot with this account. As I’ve already mentioned about Kotak,
talking about IndusInd Bank, you can save a lot when you use this card at
various places. For example, you get cashback on Amazon. If you spend using
this card on Zomato, you get 10% off.
You can get discounts there. You’ll earn reward points here. IndusInd Bank also offers free movie tickets. So, this account is pretty good too. You can choose this one as well. Now, let’s talk about fees and charges. There’s no annual fee here. Like you’ll see, it’s zero across the board. But somewhere along the line, you do have to pay debit card charges. If you have a digital card, there are no charges for that. But if you get a physical card, then later on, you’ll see that all banks have mentioned this upfront. So, GST of ₹150 will be charged here. In IndusInd Bank, there's also a ₹500 annual fee. But these charges will be waived if you have a salary account. If you order a cheque book, for example, the first 10 leaves are free. Talking about Axis Bank, the first check is free, and after that, charges apply. Similarly, in Kotak Bank, you get 20 free check leaves. If you need more, you'll have to order again and pay the charges. There are charges mostly by banks later on. IndusInd Bank charges ₹5 per leaf for cheques. As for SMS alerts, there are charges mentioned here. Quarterly SMS alert charges apply, and Kotak’s charges are quite low. You have to pay ₹18 quarterly. For debit cards, if you replace them, the average cost is around ₹200 to ₹300. So, if your debit card is lost or broken, you’ll need to pay that to get a new one. Also, if you use other banks’ ATMs, there’s a ₹20 fee. You have to pay ₹25 plus GST for those transactions. For NFT, RTGS, and IMPS transactions here, almost all banks give NFT and RTGS transactions for free. But if you use IMPS transactions, you need to be careful. Some banks offer it for free, but others charge fees. I've already explained this to you. You can open your account here if you want. As for interest, well SBI offers 3% interest on savings accounts. Axis Amazon also gives 3%. But Kotak offers 5.75%, which is quite high. However, this interest is part of a feature called Active Money, so the rate is higher because of that. ICICI Bank also offers 3%. IndusInd Bank gives you 3.5%. So, this was the complete comparison of which bank offers better services and interest rates.
First up on this list is SBI, which stands for State Bank of India. With this bank, you can open your account online through video KYC. Plus, your account will be a zero-balance account. Now, when you open an online account with SBI... This is only possible because offline, if you go inside their branches, they have a monopoly there. The branch managers often tell you that you have to fund the account initially. At least ₹3000 has to be funded. Out of that, they usually add around ₹1500 worth of insurance. So, whenever you open an account, since you get two options, make sure to choose the option to open an account online when you go to open one. That means, the video option. You want to open an account through KYC so that you don’t have to buy any insurance or anything else. Also, you don’t want the hassle of initial funding or maintaining an average balance. In that case, SBI might be a better option for you. One big advantage of opening an account with SBI is that it’s a very old and big bank, and many of us had accounts there even back in our parents’ time. So, you can easily open your account there. Their branch network is really extensive, so if you ever need to visit a branch offline, you can do that anytime.
If you go there
to get some work done, you can easily get it done. Here, you also get the
facility of a physical passbook. There's no need to make any initial deposit.
Let me explain what an initial deposit is. One thing is maintaining an average
balance, and the other is the initial deposit. Banks have introduced this term
recently because many people open accounts but then don’t use them, which
becomes a burden for the banks. Sometimes, you have plenty
of accounts, but there’s no money actually kept in them. So, banks noticed that
people open accounts easily from home for convenience, but then don’t really
use them. Because of this, banks started requiring an initial deposit. Got it?
However, in SBI, there’s no initial deposit needed. Your account will be
activated even with a zero balance. You’ll get a free cheque book, passbook, or debit card with it. Here too, you
can manage your account. You can open it with zero balance.
Now, let's talk
about the second bank, Axis Bank. They have this Amaze account, which is a zero
balance bank account. This account gives you tons of benefits. We'll discuss
those benefits in a bit. But there’s a catch — you’ll be charged ₹200 per month
as rental fees. So basically, it’s like you’re renting the account and have to
pay a service fee every month. I mean, why do we keep money in a savings
account anyway? To grow our money, right?
It’s
increasing, right? But here, they’re charging ₹200 monthly fees. However, if we
consider the services you get in return, it’s actually beneficial. I’ll show
you how it’s a benefit. But because of these charges, the so-called true zero
balance account won’t really be zero balance anymore. This condition is with
Axis Bank. But on the plus side, you get reward features, kind of like the
benefits you get on a credit card. Similarly, you get some benefits on the
debit card too. So, if you’re someone who uses online services a lot, then. Here, you can earn reward points. In many places, you can get cashback
and discounts. So, you get these benefits, and through video KYC, your account
will be opened online. We’ll discuss some more benefits of this later.
Now, let’s talk
about Kotak 811. In Kotak, this category 811 is a zero balance bank account.
Kotak also has other accounts that are not zero balance. However, Kotak hasn’t
set any condition like monthly rent or anything.
You need to
open an account. Your zero balance bank account will remain completely zero
balance. The entire process is fully digital. You can open the account online.
Whether you want a passbook, debit card, or cheque book, Kotak Mahindra Bank provides all of these right
at your doorstep. The interest rate they offer is also quite high. Kotak
Mahindra Bank gives you 5.75% interest because they have a feature called
Active Money that helps increase your interest earnings.
It happens. So, this account is pretty good too. But it has two categories. Let me show you. Not all accounts are zero balance bank accounts, so I’m pointing that out here as well. There are two types in this case too. One is Kotak 811, which you just saw. The other is Kotak 811 Super Account. Now, if you look here, this account is a zero balance bank account. But if you check this one, you’ll see it offers more benefits. That means the Super account gives you more perks. They're saying. But why? Here, you'll see they're talking about a monthly deposit of ₹5,000. Got it? ₹5,000 every month means if you have a salary coming in and you're opening an account, this would be better for you. You get some free services with it. For example, you get a debit card free of cost. Also, a virtual debit card comes free with both accounts. Now, about the daily ATM withdrawal limit: if you open an 811 account, it's ₹25,000. For this one, it's ₹1 lakh. As for the other accounts, there's no. The major difference isn’t much because, as you can see, both NFT and RTGS transactions are free here. The annual program fee is only applied to the ₹5,000 account. So, this account is basically a zero balance account. But an initial funding of ₹1,000 is required. Like I explained, you need to put this initial amount into your account, and once your account is opened, you can withdraw that money anytime. So, it becomes a zero balance bank account.
Now, talking
about the next bank, that’s ICICI Bank. Their basic savings account is also a
zero balance account. But the biggest problem with this zero balance account is
that it’s basically just for show, meant only for the government. In other
words, if you try to open this account online, you won’t be able to. If you
visit their website, the only account you’ll find available is the
‘Three-in-One’ account, which is basically a savings account. Along with this, your Demat and trading accounts are opened together.
All three accounts get opened at the same time. But not everyone really needs
all of them. Whenever you open an account online, they ask for an initial
deposit, which is ₹1 lakh. So basically, the amount is zero, but if you go to a
bank like ICICI, which is known as a big private sector bank, it mostly deals
with wealthy clients. So, the bank itself doesn't really want small customers
coming in. So, earlier you had the option to open a zero
balance bank account online. What used to happen was, you’d deposit some
initial money once, and then your zero balance account would be set up. But
that service has been discontinued now. For a long time, opening accounts
online with ICICI Bank was stopped. Now they’ve started it again, but with
certain conditions. So, basically, you can say ICICI Bank doesn’t offer zero
balance accounts anymore.
The third
option is IndusInd. IndusInd Bank is also a good bank. Whenever you
open an account here and complete your video KYC online, all the services
linked to your account get activated right away. But one thing to keep in mind
is that not all accounts here are zero balance accounts. They have an account
called Indus Delight Savings Account. You get lots of benefits with it, like up
to 5% cashback. Another cool feature is that you can link your account number
to your mobile number if you want.
You can only
create a number, like with our mobile number, you can create an account number
from it. This facility is provided only by IndusInd Bank. Also, here you get
free movie tickets, which are pretty popular. If you spend a lot online, you
get benefits at many places through this. So far, what we've understood is that
all these accounts I've mentioned can be opened through an online process.
Among them, SBI offers zero initial funding, meaning you don't have to put in
any money upfront. You don’t need to make a deposit. But if you open
an account with Axis Bank, like I mentioned, there’s an annual rental fee of
₹2200, which is about ₹200 per month. For that, you’ll need to put an initial
funding of ₹10,000 into the account, and then you’ll pay ₹200 monthly rental.
So, your account will still be considered a zero balance bank account.
Honestly, I don’t see a strong reason to include Axis Bank in this list, but
many people have misunderstandings about it. That’s why I included it here, to
clear things up for you.
So, here’s the
real deal. These accounts get opened online through your
video KYC. But with Kotak 81, your account will open online too. The only thing
is, you need to make an initial deposit of ₹1000. And as soon as your account
is opened with that ₹1000, you can withdraw money immediately. Got it? You can take
out your money anytime via UPI or use your ATM card to withdraw cash from
anywhere. Now, talking about IndusInd Bank, they also offer a zero balance bank
account.
As I mentioned, the IndusInd Bank's Indus Delight savings account is available through MF. It's a completely zero-balance bank account, but you do need to make an initial deposit. The bank wants to make sure genuine people open accounts. They'll keep it zero balance, but only for real customers who actually need the account—not just anyone who completes KYC and then leaves it inactive. As for the debit card, the one you get with SBI is the Classic Debit Card. Here, it's Virtual banking doesn’t really make sense because SBI is a bank that still operates based on how our parents used to manage things. The point is, they don’t make their technology super high-tech, so if a senior citizen comes and says money was taken from their account, they can understand the issue easily. Got it? Now, about the daily withdrawal limit—you get ₹00 within that limit. Talking about Axis Bank, you get a Visa Classic card and also a virtual card here. The first year, the card is free, but after that, you have to pay renewal charges. You can withdraw up to ₹25,000 daily here. Talking about Kotak 811, you’ll get a Visa Classic card. There’s also a virtual card available, and it’s free—no charges for that. But if you want a physical ATM card sent to your home address, you’ll have to pay the fees, which are ₹399 plus GST. If you don’t want the physical card, you can use the virtual debit card to register your UPI on apps like Google Pay or PhonePe. You can use it. There's a daily withdrawal limit of ₹25,000 here as well. As for ICICI Bank, the daily withdrawal limit is ₹500. But the card you get here is a Visa Premium, which is free for the first year, and from the second year onwards, there are charges. Talking about IndusInd Bank's debit card, it's a Visa Delight card. The virtual card is free, and you get the card for free too—no need for a physical card. If you're planning to use it as a secondary account and already have an ATM card, then you don’t really need a separate physical debit card anymore. Here, you can get this card virtually, and it’s free. But if you want a physical card, you’ll have to pay ₹500 for that. It mentions salary here, but it’s not like only salary accounts can be opened. The benefit of a salary account is that the fees get waived. Now, talking about the benefits you get with this – like I told you, with Axis account, you get both a virtual card and a physical card.
You’ll get it,
and you can manage it through your application. That means you’re in control of
when and where to use this card, how much limit to set—it’s all up to you.
Along with that, this Amazon zero balance account, like I mentioned, has a ₹200
monthly fee, but you get a lot in return. So, what do you get? First, a zero
balance bank account, meaning you don’t need to keep money all the time, and
the bank won’t sneak in any hidden charges later. Plus, you get a debit card with
it. You’ll get the benefits. Within a year, you can
save around ₹11,000. Also, any domestic charges or ATM withdrawal transactions
won’t have any fees. You’ll get a free debit card. If you want a cheque book, you can get that too. If you spend up to ₹00,
you’ll earn 2000 reward points on your spending, which you can redeem later. As
for their services, they have a lot of branches—about 250 branches.
It's a service
network, so you can easily find branches. For the ₹200 monthly rent you're
paying, you actually get an Amazon membership worth ₹599 for 3 months. Along
with that, you get 10 complimentary movie tickets worth around ₹4000. You also
get a 3-month membership for SWGI One. So, this account gives you a lot of
benefits. You can get discounts at many places through it. For example, if you
use Uber rides, you can get up to ₹500 off.
Along with
that, Axis Bank does one more good thing: not every account here is a pain. It
costs ₹200, but you get quite a lot in return. You also get insurance included.
For example, there's a personal accident cover of ₹5 lakh. So, if you ever have
an accident, you'll get accident coverage. There's also air accident coverage,
which is a pretty big amount—₹1 crore. You also get purchase protection cover,
meaning wherever you use your card
if there's any
misuse, protection is also provided here. So, quite a few benefits are offered.
You also get lost baggage cover up to $500. In a way, the bank has really tried
to offer a lot with this account. As I’ve already mentioned about Kotak,
talking about IndusInd Bank, you can save a lot when you use this card at
various places. For example, you get cashback on Amazon. If you spend using
this card on Zomato, you get 10% off.
You can get discounts there. You’ll earn reward points here. IndusInd Bank also offers free movie tickets. So, this account is pretty good too. You can choose this one as well. Now, let’s talk about fees and charges. There’s no annual fee here. Like you’ll see, it’s zero across the board. But somewhere along the line, you do have to pay debit card charges. If you have a digital card, there are no charges for that. But if you get a physical card, then later on, you’ll see that all banks have mentioned this upfront. So, GST of ₹150 will be charged here. In IndusInd Bank, there's also a ₹500 annual fee. But these charges will be waived if you have a salary account. If you order a cheque book, for example, the first 10 leaves are free. Talking about Axis Bank, the first check is free, and after that, charges apply. Similarly, in Kotak Bank, you get 20 free check leaves. If you need more, you'll have to order again and pay the charges. There are charges mostly by banks later on. IndusInd Bank charges ₹5 per leaf for cheques. As for SMS alerts, there are charges mentioned here. Quarterly SMS alert charges apply, and Kotak’s charges are quite low. You have to pay ₹18 quarterly. For debit cards, if you replace them, the average cost is around ₹200 to ₹300. So, if your debit card is lost or broken, you’ll need to pay that to get a new one. Also, if you use other banks’ ATMs, there’s a ₹20 fee. You have to pay ₹25 plus GST for those transactions. For NFT, RTGS, and IMPS transactions here, almost all banks give NFT and RTGS transactions for free. But if you use IMPS transactions, you need to be careful. Some banks offer it for free, but others charge fees. I've already explained this to you. You can open your account here if you want. As for interest, well SBI offers 3% interest on savings accounts. Axis Amazon also gives 3%. But Kotak offers 5.75%, which is quite high. However, this interest is part of a feature called Active Money, so the rate is higher because of that. ICICI Bank also offers 3%. IndusInd Bank gives you 3.5%. So, this was the complete comparison of which bank offers better services and interest rates.
Conclusion:
Choosing the right savings account in 2025 depends on your lifestyle, financial goals, and comfort with digital banking. Evaluate your priorities and pick the account that aligns best with your needs.
Hope you'll like this blog post and this will certainly help to determine best suitable option for you. Are you having savings bank account in any of these banks already? If yes, comment down your bank name and your experience with the bank and savings bank account.
Disclaimer
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