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Best Banks For Savings Accounts Services In India
Savings Accounts

Best Banks For Savings Accounts Services In India

| @indiablooms | 16 Feb 2023, 10:09 am

In this article, let us look at the top 10 banks in India. A suitable savings account can help you save more money in the long run and invest them in the right avenues to grow your wealth in the future. Here are the top 10 banks in India ranked in order of the efficiency of their savings accounts:


IDFC FIRST Bank has one of the best savings accounts, offering attractive features that help the account holder save more over the period. Here are the features and benefits of an IDFC FIRST Bank savings account:

·       You can earn up to 6.25% of interest through their savings account per annum, one of the highest rates in India right now.
·       IDFC FIRST Bank account holders earn monthly interest credits to complement their savings.
·       The savings account opening process with IDFC FIRST Bank is online and 100% paperless, with the video KYC option.
·       The daily ATM withdrawal limit is ₹ 2 lakhs, and the daily purchase limit is ₹ 6 lakhs.
·       IDFC FIRST Bank offers free and unlimited ATM withdrawals on their savings accounts.
·       IDFC FIRST Bank’s mobile banking app is among the best mobile-banking apps in India today, with unique features like “Track your Expenses” and “Auto Pay”.
·       You can also opt for an ‘Insta Save’ savings account with IDFC FIRST Bank, whose entire procedure is online, to avail of IDFC FIRST Bank’s popular Net banking services.  


The HDFC Bank savings account offers convenient transactions through net banking services, easier ways to pay your bills, and an ATM withdrawal facility with an extensive ATM network spread across the country. Besides these features, the bank also offers cross-product benefits to customers, such as waiving off the first-year maintenance fee for a first-time Demat Account applicant.

Kotak Mahindra Bank

Kotak Mahindra bank offers a savings account interest rate of 3.50% per annum for a savings account bank balance of up to ₹ 50 lakhs and an interest rate of 4.00% for a bank balance above ₹ 50 lakhs. You can also benefit from a well-functioning mobile banking app.

DCB Bank

The DCB Bank “Classic Savings Account” requires you to maintain an average quarterly balance of ₹ 5000 for branches in Tier 1 cities and ₹ 2500 for Tier 2 cities. The interest rate for the DCB bank savings account is 4% per annum on a half-yearly basis.

RBL Bank

RBL bank offers you the unique feature of being able to decide your own account number! Besides, it provides an interest rate of up to 6.25% per annum and has a minimum balance requirement of ₹ 25,000 (average monthly balance).

IndusInd Bank

IndusInd Bank has four categories of savings account interest rates for various account balances: ·      

 Balance up to ₹ 1 lakh: 4.00% per annum·       

above ₹ 1 lakh and up to ₹ 10 lakhs: 5.00% ·       

above ₹ 10 lakhs and up to ₹ 1 crore: 6.00%·       

above ₹ 1 crore and up to ₹ 100 crores: 6.00%

As an IndusInd bank savings account holder, you can benefit from free ATM transactions in India and abroad and zero transaction charges to shoppe anywhere worldwide.  


ICICI bank offers a savings account interest rate of 3.00% for accounts with balances below ₹ 50 lakhs and at ₹ 50 lakh or above. The average monthly balance to be maintained is ₹ 10,000, and the customer is allowed five free ATM withdrawals per month.

Axis Bank

Axis bank, too, offers a savings account interest rate of 3.00% for its savings accounts. You can also avail of a personal accident cover worth ₹ 5 lakhs, along with cardless withdrawal enabled on their virtual debit cards.

State Bank of India

SBI accounts come with the advantage of ₹ 0 minimum balance for all savings accounts. Additionally, there is no maximum balance cap; an account holder gets a robust mobile banking facility.

Central Bank of India

Central Bank of India savings accounts requires account holders to maintain a minimum balance of ₹ 25,000. You can open this savings account jointly with another individual by opting for the “joint savings account” option. 

We hope you found this list of the best savings accounts in India helpful. Also, prioritize criteria such as a secure mobile banking app with attractive features, monthly interest credits from the bank, and more, to identify the best savings account.

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