Bank accounts and deposits, compared on the charges you actually pay
A bank account is the plainest financial product there is, and the one where the fine print quietly costs the most. This page compares savings and current accounts across leading Indian banks — minimum balance, interest, debit card, digital features and charges — then lays out fixed and recurring deposit rates, the documents you need, and what it costs to fall short.
Start with what the account is for
Savings to hold and grow money, current to run a business, and deposits to lock a rate. Pick the family that matches your need, then compare within it on the numbers below.
Savings accounts
Zero-balance digital accounts through to premium relationship banking, ranked on the real cost of holding one.
- Minimum balance from ₹0 to ₹1,00,000
- Debit-card and ATM charges listed
- Sweep-in FD linkage compared
Current accounts
Built for proprietors, MSMEs and startups. We compare free cash-deposit limits, not just the marketing copy.
- AQB from ₹10,000 to ₹5,00,000
- Free NEFT/RTGS and cash handling
- POS and payment-gateway bundles
Fixed & recurring deposits
Bank and small-finance-bank deposits with senior-citizen premiums, laddering ideas and TDS explained.
- 7 days to 10 years
- Senior citizens +0.50% typical
- Premature-withdrawal penalties listed
Accounts by segment
Salaried, senior citizen, student, NRI, business and startup — each has a variant tuned to it.
- Salary accounts with zero balance
- Senior and student concessions
- NRE, NRO and startup accounts
Savings accounts across eight banks
Sort by any column. Minimum balance is the monthly average balance for a metro branch; interest is the indicative rate on the base slab; charges are the headline non-maintenance and debit-card fees. All figures are indicative, as on 21 Jul 2026.
Click a column heading to sort.
| Bank & account | Digital features | Non-maintenance charge | |||
|---|---|---|---|---|---|
| State Bank of IndiaPublic sector · Regular Savings | Nil | 2.70% | ₹150 | YONO app, UPI, NEFT | Nil |
| HDFC BankPrivate · Regular Savings | ₹10,000 | 3.00% | ₹200 | Full-service app, UPI, bill pay | Up to ₹600/mo |
| ICICI BankPrivate · Regular Savings | ₹10,000 | 3.00% | ₹200 | iMobile app, UPI, iWish goals | Up to ₹500/mo |
| Axis BankPrivate · Easy Savings | ₹10,000 | 3.00% | ₹250 | Open app, UPI, Grab deals | Up to ₹600/mo |
| Bank of BarodaPublic sector · Baroda Savings | ₹2,000 | 2.75% | ₹200 | bob World app, UPI | Up to ₹250/mo |
| IDFC FIRST BankDigital-first · Zero-balance Savings | Nil | 7.00% (top slab) | Nil | App-first, UPI, real-time alerts | Nil |
| AU Small Finance BankSmall finance · Digital Savings | Nil | 7.00% (top slab) | Nil | Video banking, UPI, spends view | Nil |
| Kotak Mahindra BankPrivate · 811 Savings | Nil | 3.50% | Nil (virtual) | 811 app, UPI, spend analyser | Nil |
Savings interest is calculated on the daily balance and paid quarterly. The higher rates shown apply to top balance slabs on digital accounts and are indicative, subject to change without notice. Interest earned is taxable as income. YouBankingBuddy is not a bank and does not open accounts.
Account variants by who you are
Banks tune the same account to different lives. Salaried, senior, student, NRI, business and startup variants each waive or add something. Match the variant to your situation before you compare rates.
Salaried
A salary account is a zero-balance savings account funded by your employer's monthly credit.
- No minimum balance while active
- Often free debit card and cheque book
- Reverts to a regular account if salary stops for 3 months
Senior citizen
For account holders aged 60 and above, with concessions across the board.
- Higher FD rate, typically +0.50%
- Higher TDS threshold of ₹50,000
- Doorstep banking and lower minimums
Student
For students, usually up to age 18 with a guardian, or a minor's own account.
- Zero or very low minimum balance
- Capped debit-card and ATM limits
- Easy switch to a salary account later
NRI
Non-resident accounts come in two forms, and the difference is entirely about tax and repatriation.
- NRE: foreign earnings, freely repatriable, tax-free interest
- NRO: Indian income, repatriation capped, interest taxed
- FCNR: deposit held in foreign currency
Business
A current account for proprietors, partnerships and companies transacting at volume.
- Higher free cash-deposit limits
- Unlimited transactions, overdraft options
- No interest — money is meant to move
Startup
A current account tuned for early-stage companies with bundled digital tooling.
- Lower opening AQB in year one
- Payment gateway and API access
- Founder and employee salary accounts
Current accounts on the limits that matter
A current account earns no interest, so the comparison is about free limits and charges. Average quarterly balance, free monthly cash deposit and free digital transfers are what separate a cheap account from an expensive one. Indicative, as on 21 Jul 2026.
| Bank & account | Digital transfers | Best suited to | ||
|---|---|---|---|---|
| HDFC BankPrivate · Smart Business | ₹25,000 | ₹10 lakh | Free NEFT/RTGS/IMPS | Established MSMEs |
| ICICI BankPrivate · Business Advantage | ₹25,000 | ₹12 lakh | Free NEFT/RTGS/IMPS | Traders with cash turnover |
| Axis BankPrivate · Startup Current | ₹10,000 | ₹10 lakh | Free + payment gateway | Early-stage startups |
| State Bank of IndiaPublic sector · Power Jyoti | ₹10,000 | ₹15 lakh | Free NEFT/RTGS | High cash-collection businesses |
| Bank of BarodaPublic sector · Baroda Current | ₹10,000 | ₹10 lakh | Free NEFT/RTGS | Proprietors and small firms |
| IndusInd BankPrivate · Business Premium | ₹5,00,000 | ₹15 lakh | Free + relationship manager | Larger firms and companies |
Beyond the free monthly limit, cash deposits attract a per-thousand charge set by each bank. Current accounts pay no interest by regulation. Figures are indicative, sourced from bank schedules as on , and subject to change without notice.
Fixed and recurring deposit rates
A fixed deposit locks a lump sum at a set rate; a recurring deposit does the same for a fixed monthly instalment. The general-public rates below top out at 7.25% for a one-year tenure. Senior citizens typically earn an additional 0.50%. Indicative, as on 21 Jul 2026.
| Bank | ||||
|---|---|---|---|---|
| AU Small Finance BankSmall finance | 7.25% | 7.25% | 7.10% | 7.75% |
| Bank of BarodaPublic sector | 6.85% | 7.15% | 6.80% | 7.35% |
| State Bank of IndiaPublic sector | 6.80% | 6.75% | 6.50% | 7.30% |
| Axis BankPrivate | 6.70% | 7.10% | 7.00% | 7.20% |
| HDFC BankPrivate | 6.60% | 7.00% | 7.00% | 7.10% |
| ICICI BankPrivate | 6.70% | 7.00% | 6.90% | 7.20% |
| Canara BankPublic sector | 6.85% | 6.80% | 6.70% | 7.35% |
Recurring deposits, in short
- You commit a fixed sum every month, from as little as ₹500, for 6 months to 10 years.
- The rate is broadly the bank's fixed-deposit rate for the same tenure, and is locked at opening.
- A missed instalment attracts a small penalty, and the account may close after several misses.
- A good fit for a salaried saver building a habit rather than deploying a lump sum.
Before you lock a deposit
- Interest is fully taxable as income, at your slab rate, in the year it accrues.
- TDS applies above ₹40,000 of interest a year, or ₹50,000 for senior citizens; submit Form 15G/15H if your income is below the taxable limit.
- Premature withdrawal usually costs a 0.50% to 1.00% rate penalty.
- Laddering across tenures keeps some money liquid while the rest earns the longer rate.
Common account charges, in one place
These are the everyday fees that quietly add up. Exact amounts vary by bank and account variant; the ranges below are indicative of the market, as on 21 Jul 2026, and exclude GST at 18%.
| Charge | Typical amount | When it applies | How to avoid it |
|---|---|---|---|
| Non-maintenance of minimum balance | ₹250 – ₹600/mo | Balance falls below the required monthly average | Pick a zero-balance or salary account variant |
| Debit card annual fee | ₹150 – ₹750/yr | Charged every year the card is active | Choose an account with a free or virtual card |
| ATM withdrawals beyond free limit | ₹21 per transaction | After 3–5 free withdrawals a month | Withdraw larger amounts less often; use your own bank's ATMs |
| Cash deposit beyond free limit | ₹2 – ₹5 per ₹1,000 | Current accounts, above the free monthly limit | Choose a variant whose free limit matches your turnover |
| Cheque return (insufficient funds) | ₹300 – ₹500 | A cheque you issued bounces | Keep a buffer; move to standing instructions |
| SMS alert charge | ₹15 – ₹25/quarter | Charged per quarter on many accounts | Rely on free app notifications where offered |
| GST | 18% | On every fee and charge above | Unavoidable — budget for it in the true cost |
Amounts are indicative ranges across the market, not any single bank's schedule, and exclude GST at 18%. Confirm exact charges in your bank's latest schedule of charges before you open an account.
What you need to open an account
Account opening in India is standardised around KYC. Have these ready as clear scans and most banks now finish the whole process through video KYC, without a branch visit.
Individuals (savings)
- PAN card — mandatory
- Aadhaar, passport, voter ID or driving licence
- Address proof if different from Aadhaar
- Recent passport-size photograph
Businesses (current)
- PAN of the firm and of the proprietor or partners
- GST registration or shop-and-establishment certificate
- Partnership deed or certificate of incorporation
- Board resolution for companies
Match the variant to your need
Use the segment guide and comparison tables above to choose a variant whose minimum balance you can comfortably hold and whose free limits fit your usage.
About 10 minutesApply and complete KYC
Apply on the bank's own platform with your PAN and KYC documents. Individuals can usually finish through a video KYC call; businesses may need a branch visit.
15–30 minutesFund and activate
Make the opening deposit and set up the mobile app, UPI and any standing instructions. Your account and customer ID are generated on activation.
Same day to 2 daysCard and cheque book dispatch
The debit card and, if requested, the cheque book are dispatched to your registered address. Read the schedule of charges before you begin transacting.
3–7 working daysEligibility checker
A healthy account balance is only half the picture when a bank assesses you for a loan or an overdraft. This checker runs the same FOIR arithmetic a credit officer runs — entirely on your device, with nothing sent anywhere and no impact on your credit score.
Loan eligibility checker
Most lenders apply 50%. Incomes above ₹1 lakh a month are often assessed at 60–65%.
This is an estimate, not an offer, a sanction or a pre-approval. Lenders also weigh your credit score, employment stability, account conduct, age and internal policy. Nothing here guarantees approval.
Bank account questions we answer every week
A savings account is designed for individuals to hold money and earn interest, typically 2.70% to 7.00% a year, with limits on the number of free transactions. A current account is designed for businesses and professionals who transact heavily; it pays no interest, but offers higher free cash-deposit limits, unlimited transactions and overdraft facilities. Choose a savings account to save, and a current account to run a business.
It ranges from nil to about ₹1,00,000 depending on the bank and the account variant. Zero-balance and digital accounts require no minimum. Regular metro accounts often ask for a monthly average balance of ₹3,000 to ₹10,000, and premium accounts can require ₹1,00,000 or more. Falling short triggers a non-maintenance charge, so pick a variant whose minimum you can comfortably hold.
Every account needs a PAN and a valid KYC document — Aadhaar, passport, voter ID or driving licence — for both identity and address, plus a recent photograph. A current account additionally needs proof of the business, such as GST registration, a shop-and-establishment certificate or a partnership deed. Many banks now complete the whole process through video KYC without a branch visit.
As on , one-year fixed deposits pay up to about 7.25% a year for the general public at the more competitive banks, with senior citizens usually receiving an additional 0.50%. Rates vary by bank and tenure and are indicative and subject to change. Remember that fixed-deposit interest is fully taxable as income, and TDS applies above ₹40,000 of interest in a financial year, or ₹50,000 for senior citizens.
Deposits with banks in India are insured by the DICGC, a subsidiary of the RBI, up to ₹5,00,000 per depositor per bank, covering the combined balance of your savings, current, fixed and recurring deposits at that bank. Spreading large sums across more than one bank keeps more of it within the cover. This insurance does not extend to mutual funds or other market-linked products.
No. YouBankingBuddy is an independent comparison and lead-generation platform operated by Catalyst Web Trendz Pvt. Ltd. We are not a bank or an NBFC. We do not open accounts, accept deposits or hold any money. We compare published rates and features, and if you choose to proceed, you open the account directly with the bank under its own terms. All rates and charges shown are indicative and subject to change without notice.
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