Quick Answer: Which Bank Has The Lowest Minimum Balance?

Which bank saving account is best?

Best Savings Bank Accounts You Can Consider Opening In 2019Digibank by DBS.Kotak 811 Edge.SBI Digital and Insta Savings Account.

SBI Insta Savings Account.Federal Bank Fedbook Selfie Account.Axis Bank ASAP Online Savings Account.HDFC Savings Max Account..

Do banks charge a monthly fee?

Not all banks charge a monthly maintenance fee. However, many large financial institutions do charge monthly fees and these charges vary from bank to bank.

Which is the No 1 bank in India?

HDFC Bank emerged as India’s No 1 bank.

What’s the easiest bank account to open?

Easiest-to-get basic bank accounts The accounts which get this thumbs-up are the Barclays Basic Account and Co-op’s Cashminder. Co-op says that as long as you have proof of address and pass ID checks, you can get a basic bank account.

Which bank is better HDFC or Axis?

But, in terms of interest rates, HDFC is a better option as its highest rate is below 9%. Whereas, Axis Bank Home Loan Interest rates are way past 9%. Even after the rate cut, which is imminent after the RBI cuts repo rate by 0.75%, HDFC Home Loan rates will be lower than that of Axis Bank.

Which bank is safest in India?

Amid financial back to back jolts to banks, first PMC and now Yes Bank, Chief Economic Adviser K V Subramanian assured that Indian banking sector is among the safest and there is absolutely no reason to worry.

Can I open a zero balance account in HDFC Bank?

You can open a Savings Account, but you don’t have to maintain a minimum balance for it. Despite this, the bank will still provide the usual facilities that come with a regular Savings Account. As the name of the account implies, this is a zero-balance account. … Consequently, there is no penalty in case of zero balance.

Which bank has lowest minimum balance for savings account?

SBI minimum balance: No minimum balance needed for SBI savings bank accounts – The Economic Times.

Which banks have the lowest monthly fees?

Basic Checking Account Fees at Top BanksAccountMonthly FeeMinimum Balance to Waive FeeU.S. Bank Easy Checking$8.95$1,500PNC Bank Virtual Wallet® Account$7$500Capital One 360 Checking® Account$0$0TD Convenience Checking$15$1007 more rows•Feb 12, 2020

What is the minimum amount for saving account?

Savings Account Interest Rates (p.a.) 1….Difference between Savings and Current Account.FeaturesSavings AccountCurrent AccountMinimum Account Balance (MAB)0Minimum ₹10,000Interest RateUp to 7%NIL3 more rows

Which bank is better HDFC or SBI?

This is despite the fact that SBI’s balance sheet is four times larger than HDFC Bank, has 10 times more customers, and is owned by the government of India….BankMarket capitalisation as of May 4State Bank of India₹1.6 lakh croreHDFC Bank₹5 lakh croreMay 5, 2020

Is HDFC zero balance account available?

Key features of HDFC Bank BSBD account include zero balance and a free Rupay card, according to HDFC Bank on its website – hdfcbank.com. Benefits of HDFC Bank’s BSBD account: 1. Customers will be able to avail a safe deposit locker and super saver facilities, said according to hdfcbank.com.

Which bank is best for zero balance account?

Latest Interest Rate for Zero Balance Savings AccountBankName of zero-balance savings accountInterest rateKotak Mahindra Bank8114% to 6%Standard Chartered BankBasic Banking Account0.5% to 4.90%HDFC BankBasic Savings Bank Deposit Account3.50% to 4%Axis BankBasic Savings Account3.50% to 4%5 more rows

Which bank gives minimum balance account?

Currently, SBI savings bank account customers need to maintain an average monthly balance of Rs 3,000 in metro, Rs 2,000 in Semi urban and Rs 1,000 in rural areas. Further, the bank used to levy a penalty of Rs 5 to Rs 15 + taxes on non-maintenance of average monthly balance as stated above.

Can you start a bank account with no money?

Most banks don’t require much to open one. Most online banks don’t have a minimum initial deposit. … Even if you don’t need very much money to open a bank account, watch out for monthly minimum balance requirements. Some banks may charge you a service fee if your balance falls below their minimum balance amount.