Best Savings Account in India 2025

When it comes to opening a savings bank account, many people start looking for banks near them. But along with that, one must focus on finding the best savings account in India. This is the one that not only keeps your money safe but also offers you other benefits.

At the same time, you must consider the options of the private and public sector banks. While everyone wants a high-interest savings account, you must not miss the key pointers that define the safety of your funds. 

Banks today are offering various facilities with the account. But as the choices grow, so does the confusion in finding a suitable one. So, let us share the best savings account in India with you in this guide.

What is a Savings Account?

A savings account is a simple bank account where you can deposit your money. This can be the salary or the surplus. On this money, you earn interest, which becomes your additional or passive income. It is usually 3-5% per annum, which is not high but decent returns. 

Features of a Savings Account

• Interest Income: You earn interest on your balance, helping your money grow slowly over time.

• Minimum Balance Requirement: Many savings accounts require you to maintain a minimum balance. However, some banks offer the best zero-balance savings account.

• Easy Access to Funds: You can use ATMs, mobile banking, or branch services to withdraw or transfer money whenever needed.

• Safe and Secure: Your money stays protected as banks are regulated and insured by RBI guidelines.

• No Lock-In: Unlike fixed deposits, you can use your money whenever you need it without penalties.

• Value-Added Services: Get a debit card, net banking, UPI access, and sometimes discounts or offers linked to your account.

List of Best Savings Accounts in India 2025

Here is the best bank for savings accounts in India based on the interest rates they are offering:

Overview of Best Savings Account in India 2025

Now that you know the list of the top savings bank accounts, let us explore the details of the same here. 

1. AU Small Finance Bank Savings Account

AU Small Finance Bank offers one of the best savings accounts in India with high interest rates and easy access. It is ideal if you want good returns without worrying about maintaining a minimum balance.

Key Features:

• Interest Rate: Up to 6.75% per annum, based on balance slabs

• Minimum Balance: Zero balance is required for a digital savings account

• Account Opening: Fully digital with instant video KYC

• Debit Card: Free Rupay Platinum debit card with contactless payments and discounts

• Banking Access: 24/7 through AU 0101 mobile app and internet banking

• Fund Transfers: Free NEFT, RTGS, and IMPS transactions

• Additional Benefits: Doorstep banking services and offers on 100+ brands

2. IDFC FIRST Bank Savings Account

IDFC FIRST Bank offers one of the best high-interest savings accounts in 2025, going up to 7% per annum. It is a great choice if you want strong returns along with zero-fee banking and smooth digital services.

Key Features:

• Interest Rate: Up to 7% per annum (balances above Rs. 5 lakh; lower balances earn around 3%)

• Minimum Balance: Rs. 10,000 or Rs. 25,000 depending on account type

• Account Opening: Fully digital with instant video KYC

• Debit Card: Free Visa or Mastercard debit card with insurance and lounge access (for higher variants)

• Banking Access: 24/7 through mobile app, internet banking, and unlimited ATM withdrawals

• Fund Transfers: Free IMPS, NEFT, RTGS, and UPI transactions

• Additional Benefits: Monthly interest crediting, personal accident insurance, and expense tracking tools

3. RBL Bank Savings Account

RBL Bank offers a savings account with competitive interest rates and convenient banking services. It is ideal if you want a balance between good returns and easy digital access.

Key Features:

• Interest Rate: Up to 7% per annum, depending on the balance maintained

• Minimum Balance: Rs. 2,500 to Rs. 5,000 based on account type and branch location

• Account Opening: Quick online process with video KYC available

• Debit Card: Free debit card with cashback offers and discounts on shopping

• Banking Access: 24/7 mobile banking app and internet banking for easy transactions

• Fund Transfers: Free NEFT, RTGS, IMPS, and UPI transfers

• Additional Benefits: Reward points on debit card usage, utility bill payments, and priority banking options for premium customers

4. Yes Bank Savings Account

Yes Bank is often chosen as one of the top savings bank accounts in India for its wide range of services and reliable banking support. It is ideal if you want a mix of decent returns and good customer service.

Key Features:

• Interest Rate: Up to 5% per annum, based on the balance maintained

• Minimum Balance: Rs. 10,000 for regular savings accounts; varies by account type and branch location

• Account Opening: Easy online process with video KYC facility

• Debit Card: Free debit card with offers on shopping, dining, and travel

• Banking Access: 24/7 through Yes Mobile app and internet banking

• Fund Transfers: Free NEFT, RTGS, IMPS, and UPI transactions

• Additional Benefits: Monthly interest payouts, reward points on debit card usage, and personalised banking for premium customers

5. IndusInd Bank Savings Account

IndusInd Bank is considered an ideal bank for customers who want premium features along with steady returns. It combines good interest rates with exclusive banking benefits.

Key Features:

• Interest Rate: Up to 7% per annum, depending on the balance maintained

• Minimum Balance: Rs. 10,000 to Rs. 25,000 based on account type and branch location

• Account Opening: Quick online process with video KYC option

• Debit Card: Free debit card with exclusive offers, airport lounge access, and insurance benefits (for premium accounts)

• Banking Access: 24/7 mobile banking app and Internet banking with easy transaction features

• Fund Transfers: Free NEFT, RTGS, IMPS, and UPI transactions

• Additional Benefits: Monthly interest payouts, FD sweep-in facility for better returns, and personalised banking support for premium customers

6. Kotak Mahindra Bank 811 Digital Savings Account

Kotak 811 is popular for offering one of the best zero-balance saving accounts in India, thanks to its fully digital setup and zero-balance feature. It’s ideal if you're looking for a simple account with no maintenance worries.

Key Features:

• Interest Rate: Up to 6% per annum, based on the balance maintained

• Minimum Balance: Zero balance required for the 811 account

• Account Opening: Entirely digital process with instant video KYC

• Debit Card: Virtual debit card for online transactions; physical card available at nominal charges

• Banking Access: 24/7 mobile banking app and internet banking for easy access

• Fund Transfers: Free NEFT, RTGS, IMPS, and UPI transactions

• Additional Benefits: Easy upgrade to higher variants, access to FDs and other Kotak products, and no paperwork required

7. HDFC Bank Regular Savings Account

HDFC Bank is often considered one of the most popular savings accounts in India due to its trusted services and wide branch network. It is suitable if you prefer reliable banking with strong customer support.

Key Features:

• Interest Rate: Around 3.5% per annum

• Minimum Balance: Rs. 10,000 for metro branches, Rs. 5,000 for semi-urban, and Rs. 2,500 for rural branches

• Account Opening: Easy process through online or branch visit with quick KYC

• Debit Card: Free debit card with cashback offers and reward points on purchases

• Banking Access: 24/7 mobile banking app and internet banking with robust security features

• Fund Transfers: Free NEFT, RTGS, IMPS, and UPI transactions

• Additional Benefits: Auto sweep-in FD facility, wide ATM network, and personalised banking services for premium customers

8. State Bank of India (SBI) Savings Account

SBI is the largest public sector bank and is known as a safe choice for savings. It is ideal if you want trusted banking with wide branch access across India.

Key Features:

• Interest Rate: Around 2.50% per annum

• Minimum Balance: Rs. 3,000 for metro branches, Rs. 2,000 for semi-urban, Rs. 1,000 for rural branches

• Account Opening: Online via the YONO app or by visiting a branch

• Debit Card: Free debit card with basic offers and ATM access

• Banking Access: 24/7 YONO app and internet banking

• Fund Transfers: Free NEFT, RTGS, IMPS, and UPI

• Additional Benefits: Large ATM network, government subsidy linkage, and easy access to other SBI services

9. ICICI Bank Savings Account

ICICI Bank is among the best banks for saving account in India, offering strong digital services and easy banking options. It is ideal if you want reliable banking with a wide range of features.

Key Features:

• Interest Rate: Around 3% per annum

• Minimum Balance: Rs. 10,000 for metro branches, Rs. 5,000 for semi-urban, Rs. 2,000 for rural branches

• Account Opening: Online and branch options with quick KYC

• Debit Card: Free debit card with cashback offers and discounts

• Banking Access: 24/7 iMobile app and net banking with secure access

• Fund Transfers: Free NEFT, RTGS, IMPS, and UPI

• Additional Benefits: Auto sweep-in FD, wide ATM network, and rewards on debit card usage

10. Axis Bank Savings Account

Axis Bank offers a savings account with balanced features and wide availability, making it one of the best banks for saving account in India for daily banking needs.

Key Features:

• Interest Rate: Around 3% to 3.5% per annum

• Minimum Balance: Rs. 10,000 for metro branches, Rs. 5,000 for semi-urban, Rs. 2,500 for rural branches

• Account Opening: Quick online and branch process with video KYC

• Debit Card: Free debit card with dining, shopping, and movie offers

• Banking Access: 24/7 Axis Mobile app and internet banking

• Fund Transfers: Free NEFT, RTGS, IMPS, and UPI

• Additional Benefits: Auto sweep facility, loyalty points on card spends, and wide branch network

Factors to Consider Before Choosing a Savings Account

Choosing the right savings account is more than just opening an account with any bank. It is about finding a place where your money is safe, grows steadily, and gives you features that make daily banking easy. Here are the key factors you must consider before making your decision.

1. Interest Rate

Check the interest rate offered by the bank. If you want better returns, look for a High Yielding Savings Account that offers rates above 5% or 6%. This helps your money grow faster compared to accounts with standard rates.

2. Minimum Balance Requirement

Many banks require you to maintain a minimum balance each month. If the balance falls below this limit, you may face penalties. Zero-balance savings accounts are better if you want to avoid maintaining a set amount and prefer flexibility.

3. Account Opening Process

Today, many banks allow you to open your account online through video KYC. This process is quick, paperless, and saves you the time of visiting a branch. Choose banks that make opening an account easy and hassle-free.

4. Debit Card Benefits

Check what benefits come with the debit card linked to your savings account. Some cards offer cashback on purchases, discounts on dining or travel, and reward points that you can redeem later.

5. Fund Transfer Options and Charges

Ensure that your bank offers free fund transfers through NEFT, RTGS, IMPS, and UPI. This saves you money when you transfer funds to others or between your own accounts.

6. Ease of Banking Access

A good mobile banking app and net banking facility make it easy to manage your account anytime, pay bills, transfer funds, and keep track of your balance and transactions without visiting a branch.

7. Extra Benefits and Features

Some banks offer additional benefits like sweep-in fixed deposits that provide better returns on idle balances, insurance cover with the account, and discounts on partnered brands. These add more value to your savings.

8. Customer Support and Branch Network

Strong customer service ensures your problems are resolved quickly. Also, check if the bank has branches and ATMs near you for easy cash withdrawals or in-person services when needed.

Things Needed to Open a Savings Account

Opening a savings account is simple if you keep all documents ready. Here is what you generally need to open an account with any bank in India.

• Proof of Identity: You need a valid identity proof such as an Aadhaar card, PAN card, Voter ID, Passport, or Driving Licence.

• Proof of Address: You must provide an address proof, which can be your Aadhaar card, Passport, Utility bill, or Rent agreement.

• PAN Card: PAN card is mandatory for opening a savings account to comply with banking and income tax rules.

• Passport Size Photographs: Banks usually ask for one or two recent passport-size photographs for their records.

• Mobile Number and Email ID: A working mobile number and email ID are needed for account registration and to receive OTPs and bank alerts.

• Initial Deposit: Some banks may ask for an initial deposit to activate your account if it is not a zero-balance savings account.

• Video KYC (for Digital Accounts): If you are opening an account online, be ready for a short video KYC where you show your original documents for verification.

Why Having a Savings Account Is Important

Having a savings account is more than just a banking formality. It plays a key role in managing your money safely and smartly. Here are the reasons why it is important to have one.

• Keeps Your Money Safe: A savings account ensures that your money is secure in a bank regulated by the Reserve Bank of India, reducing the risk of loss compared to keeping cash at home.

• Helps You Earn Interest: Your money does not just sit idle. You earn interest on the balance maintained, which helps it grow over time without any extra effort.

• Provides Easy Access to Funds: You can access your money anytime using an ATM, debit card, net banking, or UPI. This makes payments, transfers, and emergency withdrawals simple and quick.

• Supports Your Financial Planning: A savings account is the first step towards financial discipline. It helps you track income and expenses and plan for future needs like bills, education, or investments.

• Enables Digital Transactions: With a savings account, you can pay bills online, shop digitally, transfer funds, and use UPI apps seamlessly, making your financial life convenient and cashless.

• Links You to Other Financial Products: It is easier to invest in fixed deposits, mutual funds, or take loans when you have a savings account with the bank, building your financial profile gradually.

Conclusion

Choosing the best savings account in India is an important step towards better money management. A good savings account does more than just keep your money safe. It helps you grow your funds with interest, manage your daily expenses easily, and plan for future goals with confidence. 

Whether you prefer a high-yielding account for better returns or a zero balance account for hassle-free banking, make sure it matches your needs. Compare options wisely to ensure your savings work smartly for you every day.

FAQs

Q1. Which bank is best for savings account?

The best bank for a savings account depends on your needs. If you want higher returns, AU Small Finance Bank and IDFC FIRST Bank are good options. For strong digital banking and wide branch networks, HDFC Bank and ICICI Bank are reliable choices.

Q2. What is the best saving account for women?

Banks like ICICI and Axis offer special women’s savings accounts with benefits such as free insurance, cashback on debit cards, and lower minimum balance requirements, making them ideal for women looking for added value.

Q3. Which private bank is best for saving account?

Kotak Mahindra Bank and IDFC FIRST Bank are among the best private banks for savings accounts. Kotak 811 offers zero-balance accounts with easy digital access, while IDFC FIRST provides higher interest rates with zero hidden charges.

Q4. Which bank gives high interest on saving accounts?

AU Small Finance Bank and Equitas Small Finance Bank offer some of the highest interest rates on savings accounts, going up to 6.75% and 7% per annum respectively, depending on your account balance.

Q5. What is the best saving account for students?

SBI, ICICI, and HDFC offer student savings accounts with zero or low minimum balances, easy net banking, and debit card facilities, helping students manage funds and receive scholarships seamlessly.

Q6. Which is the best saving account for kids?

ICICI Young Stars and HDFC Kids Advantage are good savings accounts for kids. They help children learn to save early, with features like parental controls, automatic transfers, and attractive interest rates.

Q7. Which is the best online savings account?

Kotak 811 Digital Savings Account is one of the best online savings accounts. It offers zero balance maintenance, instant account opening with video KYC, and full digital banking without visiting a branch.

Q8. Is it safe to keep money in a savings account?

Yes, keeping money in a savings account is safe. Banks are regulated by the Reserve Bank of India and deposits up to Rs. 5 lakh are insured under the Deposit Insurance and Credit Guarantee Corporation (DICGC), ensuring your funds remain protected.

Q9. Can I open multiple savings accounts in different banks?

Yes, you can open multiple savings accounts in different banks. Many people do this to manage expenses, savings goals, and investments separately. However, ensure you can maintain minimum balances if required to avoid penalties.

Q10. How can I increase my savings account balance?

You can increase your savings account balance by saving a fixed amount every month, avoiding unnecessary withdrawals, using budgeting apps linked to your account, and opting for a high yielding savings account that offers better interest rates to grow your money faster.