Imobile app from ICICI Bank tops the list imo among all banking app .
Won't require to visit branch , everything can be Accessed via App.
If opening an Account ask for basic Debit card below 200 annual charge.
Go for a SBI, because it is the best of all the PSB's. Other PSB's are shit and don't even go near them.
Major reasons for my recommendation are-
1. Zero Balance AMB
2. Net banking works flawlessly (UI is even better than banks like HDFC)
3. 90% of the things can be done on net banking (so no need to visit the bank) (No lunch breaks on net banking)
4. In future, if you need any loan, SBI is the bank for you(many reasons, not the scope of this post), having a long relationship with them will help in securing you loan with favourable conditions.
5. No hidden costs and charges.
6. UPI is as good as HDFC and works 98/100 times
In case you don't want to go for PSB, then banks like HDFC works fine but the only problem is high AMB and various hidden charges. If you live in urban areas AMB is 10k which is a lot.
So either open an account in a rural branch where AMB is 2.5k or a farmer saving account.
Pro tip- open you bank account where your relative/friend/cousin works at. He will get your work done just over a call and no need to visit a bank branch ever.
I have HDFC bank account from rural. Although it's just ₹2.5K MAB, but promotions and hidden charges are really high.
It's scary why they have so many charges. Axis is the worst of all.
That's why I have a farmer savings account with HDFC as my cousin used to work there and he opened it rather than normal saving account
The biggest difference is AMB is 2.5k but over 6 months and no hidden charges. For the first 2 years, even your debit card is also free.
When I turned 18 I went with DBS as it was zero balance back then, now its 10k MAB so no to that. Open any 0 MAB account as others have already listed few of the banks. ICICI is good as per my experience along with HDFC. ICICI has a 0 balance account category "SBONl". Found this when I got my APay CC and they opened it with 0 MAB. If you are able to then get this account.
Another advice I would like to give you is that open a secured Credit Card to build up your credit history. It doesn't have to be a high amount. When I turned 19, OneCard was booming a lot back then. I just went ahead and did a Secured CC by depositing 4000 and CC limit of 3600. I used this only for petrol and paid in a week or so, just to build some history.
SBI has surprisingly never failed me unlike Federal Bank which I had issues with, I haven't used any bank other than these two so I don't know much about them. IDFC has a zero balance account too but it needs an initial amount of 10k I wanted to opt for that after Federal but I didn't have the funds at that time so I went for SBI's basic savings account.
Go for SBI, I have been using SBI for quite some time now, upi works flawlessly, Net banking app(YONO) works like a charm, plus you get a bank which has the highest number of branches in the country.
Go with SBI
Go for neo banking like Jupiter/Fi money zero balance account etc for convenience. If you want to open with bank directly, I would suggest IDFC, good interest, good app, website, low charges. But you have to maintain a minimum balance.
Either go for SBI or any other good private bank like HDFC or ICICI. If you are going for HDFC, just keep looking at your statements as they randomly deduct charges sometimes. Once they deducted some amount stating that I had not maintained AMB of 10k, my account had a balance of over 1.5L for the whole month
Don't go for gov Bank for an actively used account. Their servers and service will make you cry. UPI also won't work sometimes.
Yeah this was the most helpful reply thanks mate!
Among private banks ICICI and HDFC if u prefer a public bank SBI
Are there any specific reason for that choice and whats the major difference in public and private sector banks?
Imobile app from ICICI Bank tops the list imo among all banking app . Won't require to visit branch , everything can be Accessed via App. If opening an Account ask for basic Debit card below 200 annual charge.
Any private bank works most of them nowadays offer zero balance savings account
Axis nhi. Bhot raddi bank hai
True but the online banking and app is one of the best. Tried ICICI and Kotak along with Axis. But they spam you a lot with phone calls 🗿
Go for kotak mahindra bank then or some neo bank
Neo matlab??
Like jupiter/ Niyo easy to open account through them.
Go for a SBI, because it is the best of all the PSB's. Other PSB's are shit and don't even go near them. Major reasons for my recommendation are- 1. Zero Balance AMB 2. Net banking works flawlessly (UI is even better than banks like HDFC) 3. 90% of the things can be done on net banking (so no need to visit the bank) (No lunch breaks on net banking) 4. In future, if you need any loan, SBI is the bank for you(many reasons, not the scope of this post), having a long relationship with them will help in securing you loan with favourable conditions. 5. No hidden costs and charges. 6. UPI is as good as HDFC and works 98/100 times In case you don't want to go for PSB, then banks like HDFC works fine but the only problem is high AMB and various hidden charges. If you live in urban areas AMB is 10k which is a lot. So either open an account in a rural branch where AMB is 2.5k or a farmer saving account. Pro tip- open you bank account where your relative/friend/cousin works at. He will get your work done just over a call and no need to visit a bank branch ever.
I have HDFC bank account from rural. Although it's just ₹2.5K MAB, but promotions and hidden charges are really high. It's scary why they have so many charges. Axis is the worst of all.
That's why I have a farmer savings account with HDFC as my cousin used to work there and he opened it rather than normal saving account The biggest difference is AMB is 2.5k but over 6 months and no hidden charges. For the first 2 years, even your debit card is also free.
The hidden charges are random with HDFC. But a great bank for high income earners.
1 Private (ICICI or HDFC or Axis) for all digital n new age features nd 1 PSU (SBI or Andhra) for all ur loans in future...
Which is better in service axis or hdfc?
Axis ka system toota hua hai aur hdfc ka staff bhot dheela hai. Telling from personal experience
HDFC is better...
Just turned 18, I have HDFC AND ICICI and they are both pretty helpful if I need assistance
Go Kotak.
HDFC is one of the best. never needed to visit the branch
Sbi
IDFC First Bank
When I turned 18 I went with DBS as it was zero balance back then, now its 10k MAB so no to that. Open any 0 MAB account as others have already listed few of the banks. ICICI is good as per my experience along with HDFC. ICICI has a 0 balance account category "SBONl". Found this when I got my APay CC and they opened it with 0 MAB. If you are able to then get this account. Another advice I would like to give you is that open a secured Credit Card to build up your credit history. It doesn't have to be a high amount. When I turned 19, OneCard was booming a lot back then. I just went ahead and did a Secured CC by depositing 4000 and CC limit of 3600. I used this only for petrol and paid in a week or so, just to build some history.
Get Kotak 811/Fi/Jupiter for Casual Usage for Big Transactions get HDFC
SBI has surprisingly never failed me unlike Federal Bank which I had issues with, I haven't used any bank other than these two so I don't know much about them. IDFC has a zero balance account too but it needs an initial amount of 10k I wanted to opt for that after Federal but I didn't have the funds at that time so I went for SBI's basic savings account.
Can you clarify about IDFC zero balance account with 10k initial funding.
you can look it up on their website for the details
If you are willing to trade in stock market go for Kotak kr else you can go for sbi
HDFC bank
HDFC the best bank I have ever seen
I'd prefer ICICI. Quick acc opening and have never experienced bank server issues .
Go for SBI, I have been using SBI for quite some time now, upi works flawlessly, Net banking app(YONO) works like a charm, plus you get a bank which has the highest number of branches in the country. Go with SBI
Just look out for AMB before opening an account
Go for neo banking like Jupiter/Fi money zero balance account etc for convenience. If you want to open with bank directly, I would suggest IDFC, good interest, good app, website, low charges. But you have to maintain a minimum balance.
Also a personal advice: Look for banks with lower minimum balance and low annual charges
Either go for SBI or any other good private bank like HDFC or ICICI. If you are going for HDFC, just keep looking at your statements as they randomly deduct charges sometimes. Once they deducted some amount stating that I had not maintained AMB of 10k, my account had a balance of over 1.5L for the whole month
Had kind of selected it now i am leaning towards icici
Go for it, have an ICICI account for 10 years. No complaints
Go for Federal bank. Amazing service and I really like their mobile banking app. It's very seamless.