Top 10 Banks to Open a Savings Account in India
If you want to open a savings bank account, which bank is good for you? It does not really matter whether it’s your first time or you already have an account.
You can reconsider to save your hard earned money and choose the right bank. In any India, there are also many government and private banks.
Apart from this, new banks are now opening again. Therefore, there is a wide range of banks for you to choose from. You choose a government bank or a private, they will have to give higher returns on your savings.
So on what basis you should choose a bank to open an account.
- The first obvious reason is that the bank should be genuine and keep its money safe.
- The bank will have to give higher returns on your savings.
- Attendance of ATMs across the country.
- Easy money transfer.
- Great customer support.
Before choosing a bank to open your account, you should consider the above mentioned things.
You have the necessary documents to open bank accounts
- Address proof – (Electricity Bill, Ration Card, Landline Bill, Aadhar Card or Passport)
- ID proof – (PAN card, passport, election card or Aadhar card).
- Passport size photographs
- Minimum Deposit of Rs. 500 / – to 1000 / – to 10,000 / – (You need to keep this amount in your account)
Address proof is very important. Generally, all the banks will ask these two documents to open an account.
The starting amount of Rs. 500 or Rs. 10,000 to Rs. 10,000 is also important.
For example, for SBI, you need Rs.1000 / – and for at least Rs.10 / – for HDFC
So here are 10 banks of government and private sector where you can open your savings account. You can choose any of them.
State Bank of India
State Bank of India is the largest bank in India. This government bank was established in 1955.
It includes non-banking subsidiaries and joint ventures such as SBI Capital Markets Limited, SBI Funds Management Pvt. Ltd., SBI Life Insurance Company etc.
There are many other commercial services offering SBI.
You can find SBI in every corner of India.
- Branches: 16,000
- ATM: 9 000+
It has more than 70 foreign branches.
The ICICI was established in year 1994. The main feature of this bank is a savings plan by children. This is called Young Stars.
It also offers home loans, personal loans and even car loans. It is one of the best private sector banks in India.
What I like about this bank is working for a long time.
- Branches: 1400
- ATM: 4600
Punjab National Bank
There are several products offered by PNB. It started as a private bank but nationalized in 1969.
Deposits and loan schemes like home loans, educational loans, personal loans, customer finance etc.
PNB introduced Gold Card scheme for export customers.
It also offers 12 hours of banking services and electronic clearing services in some branches.
- Branches: 5000+
- ATM: 2500
Bank of Baroda
This major product is export finance, bill finance, infrastructure finance, foreign currency loans and other loans.
It also offers Multi Check, Baroda Health, Baroda Money Express services, which ensure better payment and easy transfer of funds.
Some other programs are Baroda Premium Account, Baroda Salary Benefit Account, Baroda Super Six, Square Drive etc.
- Branches: 4300
- ATMs: 2000+
Like PNB, it was nationalized from private bank in 1969.
It has seven subsidiaries and sponsored institutes.
This provides services like savings, fixed and current account deposits.
It also offers specialized services like SB Can Champs, Assassian deposits for senior citizens, tax-tax saving schemes, and education loan for education.
- Branches: 3600
- ATM: 4000+
HDFC is a private sector bank established in 1994. It provides financial services and other products.
Some of its features are
Children’s benefits account for children’s savings.
Retail Trust account to earn high interest.
It also provides wholesale banking services to small companies to small companies to the agribusiness companies.
It also provides debt securities and equity.
- Branches: 2780
- ATMs: 11,000
Bank of India
Established in 1906 and nationalized in 1969 as other people.
This Medi offers a mobile plan that enables a businessman to buy his own choice of automobiles.
Savings Plus plan of Bank of India is also a good service with sweep and sweep facility.
- Branches: 4200
- ATM: 1700
India’s IDBI or Industrial Development Bank is a subsidiary of RBI. It was established to provide industrial development in the country.
It is the 10th largest development bank in the world.
Its some great product
Everyone’s account for the minimum balance
Citizens IDBI Bank for financially deprived
IDBI is a great bank to start small business.
- Branches: 1000+
- ATM: 1600+
Axis Bank is a bank which offers core banking. It has the presence of ATMs in every corner of its advantages.
- Branches: 729
- ATMs: 3171
Union Bank of India
Union Bank of India is a private sector bank.
This core bank also offers
Ing system Some products are New India Insurance for Health Care and Medical Claims. Telebanking services and many other services.
- Branches: 300
- ATM: 4129
If you want to open an account, then you can choose one of the banks mentioned above.