Saving money is an important habit to develop, especially for students who are just starting their financial journey. Opening a savings account can help students manage their money effectively, earn interest, and learn valuable financial skills. In this article, we will explain the top 10 savings account for students, and their benefits.
State Bank of India (SBI) – SBI Student Plus Savings Account
- No minimum balance requirement.
- Free personalized ATM-cum-Debit card.
- Attractive interest rates on savings.
- Access to net banking and mobile banking facilities.
- Exclusive benefits for education loans.
HDFC Bank – HDFC Basic Savings Bank Deposit Account
- Zero balance account.
- Easy online account opening process.
- Free passbook facility.
- ATM and debit card options available.
- Access to HDFC’s extensive branch and ATM network.
ICICI Bank – Young Stars Savings Account
- No minimum balance requirement for children below 18 years.
- Higher interest rates on savings.
- Personalized debit card with photo.
- Complimentary educational insurance cover.
- Access to ICICI’s mobile and internet banking.
Axis Bank – Future Stars Savings Account
- Zero balance account for children below 18 years.
- Special rewards program for educational spends.
- Attractive interest rates on savings.
- Complimentary accident insurance cover.
- Free online fund transfers.
Punjab National Bank (PNB) – PNB Junior SF Account
- No minimum balance requirement for children below 18 years.
- Personalized debit card with photo.
- Free SMS alerts for transactions.
- Access to PNB’s extensive branch and ATM network.
- Easy transfer of account to regular savings account after turning 18.
Bank of Baroda (BOB) – Baroda Champ Account
- Zero balance account for children below 18 years.
- Free online fund transfers.
- Attractive interest rates on savings.
- Personalized debit card with photo.
- Easy conversion to a regular savings account.
Canara Bank – Canara Junior Savings Account
- No minimum balance requirement for children below 18 years.
- Personalized debit card with photo.
- Free SMS alerts for transactions.
- Easy transfer of account to regular savings account after turning 18.
- Access to Canara Bank’s internet and mobile banking.
Kotak Mahindra Bank – My Junior Account
- Zero balance account for children below 18 years.
- Attractive interest rates on savings.
- Personalized debit card with photo.
- Complimentary insurance cover.
- Access to Kotak’s internet and mobile banking facilities.
IDBI Bank – Power Kids Account
- No minimum balance requirement for children below 18 years.
- Free personalized debit card.
- Attractive interest rates on savings.
- Complimentary insurance cover.
- Access to IDBI’s internet and mobile banking.
Union Bank of India – Union Bank Kiddy Bank
- Zero balance account for children below 18 years.
- Personalized ATM-cum-Debit card.
- Attractive interest rates on savings.
- Easy online account opening process.
- Access to Union Bank’s internet and mobile banking.
When it comes to saving money, having the right savings account is essential, especially for students. These top 10 savings accounts offered by various banks in India provide excellent benefits such as zero balance requirements, personalized debit cards, higher interest rates, insurance coverage, and convenient banking facilities. By choosing the right account, students can start their journey towards financial independence and secure their future.
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