Student Savings Account: Are you a student and wondering which savings account is best for you? Let’s know which banks are offering zero balance, high interest and digital facilities?
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Savings account for Students: Tomorrow is Teachers’ Day and on such an occasion, let’s talk about the lesson that is useful for every student – understanding money. For children studying in school or college, a savings account is not just a place to keep money, but it is the beginning of financial understanding. With this, students can keep their scholarship, pocket money or part-time earnings safe and get used to digital banking. These are the small things that teach them to handle money responsibly.
Highlights of Student Savings Account
According to a report by BankBazaar, student accounts offer a variety of facilities. These benefits include:
- Zero or very low minimum balance
- Free ATM/Debit Card
- Mobile and Net banking facilities
- No hidden charges
- SMS and email alerts
- Digital Wallet & UPI Access
These accounts teach students responsibility for money and make everyday transactions easier.
These are the best bank accounts for students:
ICICI Campus Power Account
Interest: 3.00% – 3.50% p.a.
Minimum Balance: Not required
Features: Free ATM card, digital tools, education loan facility, ideal for college students
HDFC DigiSave Youth Account
Interest: 3.00% – 3.50% p.a.
Minimum Balance: ₹ 2,500 – ₹ 5,000
Features: Cashback offers, mobile banking, for 18-25 age group, good for initial investment
Axis Youth Account
Interest: 3.00% – 4.00% per annum
Minimum Balance: Not required
Features: Personalized debit card, UPI support, For age group 10-25, Flexible banking
Federal Young Champion Account
Interest: 2.50% – 5.00% per annum
Minimum Balance: Not required
Features: Parental controls, Mobile banking, Ideal for children below 18 years of age
KVB Student Account
Interest: 3.00% p.a.
Minimum Balance: Not required
Features: Mobile friendly interface, simple account, for ages 10+, no charges
IndusInd Basic Student Account
Interest: 3.50% – 6.00% p.a.
Minimum Balance: Not required
Features: Debit card available, SMS alerts, 18+ age group, For those who want higher interest rates
IDFC FIRST Student Account
Interest: 4.00% – 7.00% p.a.
Minimum Balance: Not required
Features: Debit card, mobile banking, for 18+, account with highest interest rate
SBI Youth Savings Account
Interest: 2.70% – 3.00% per annum
Minimum Balance: Not required
Features: Internet banking, mobile banking, free chequebook and passbook, suitable for government schemes
CUB Young India Account
Interest: 3.50% p.a.
Minimum Balance: ₹ 500
Features: International debit card, free NEFT/RTGS, good for online fee payments
Note: Interest rates depend on bank policy and balance slab.
If you are studying in college or school and are looking for a safe and smart way to save money, student accounts from banks like ICICI, HDFC, SBI and IDFC FIRST are the best options. Zero balance, digital convenience and good interest rates make them special.
Disclaimer: This article is for educational purposes only. The views and recommendations expressed above are those of individual analysts or broking companies and not of informalnewz. We advise investors to check with certified experts before making any investment decisions.
