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Student Savings Account

Compare best Student Bank Account here!

A Student’s saving account is helpful in aiding students to save money according to their needs and work towards their own financial independence in a step- by- step, effective manner.

This can be achieved through simple steps like opening a Student Savings Account.

Student Savings Accounts can help these youngsters attain financial stability step-by-step-right from obtaining their first-ever debit card to learning important concepts about budgeting–these steps can help the young students take necessary measures towards achieving financial independence in an effective & guided manner.

Bank
Interest Rate
Minimum Balance
Features
Apply
Bank
Kotak 811
Kotak 811
Interest Rate
6% p.a.
(Balance above 1 lac up to 1 Cr.)
5.5% p.a.
(Balance above 1 Cr.)
4.5% p.a.
(Balance up to Rs. 1 lac)
Minimum Balance
Nil
Features
Show Details
Bank
Bank@campus
Bank@campus
Interest Rate
4% p.a.
(Daily balance equal to or above 50 lac)
3.5% p.a.
(Daily balance below 50 lac)
Minimum Balance
Rs. 500
Features
Show Details
Bank
Student Saving Account
Student Saving Account
Interest Rate
6.5% p.a.
(For 300 days)
Minimum Balance
Nil
Features
Show Details
Bank
Student Saving Account
Student Saving Account
Interest Rate
4% p.a.
(Balance of Rs. 50 lac & above)
3.5% p.a.
(Balance of below Rs. 50 lac )
Minimum Balance
Rs 10,000
Features
Show Details
Interest Rate
6% p.a.
(Balance above 1 lac up to 1 Cr.)
5.5% p.a.
(Balance above 1 Cr.)
4.5% p.a.
(Balance up to Rs. 1 lac)
Minimum Balance
Nil
Show Details
Features
  • Zero balance banking
  • Virtual Debit Card
  • Scan & Pay for bills
Interest Rate
4% p.a.
(Daily balance equal to or above 50 lac)
3.5% p.a.
(Daily balance below 50 lac)
Minimum Balance
Rs. 500
Show Details
Features
  • Free & easy Internet banking services
  • Free personalized cheque book
Interest Rate
6.5% p.a.
(For 300 days)
Minimum Balance
Nil
Show Details
Features
  • Top-up facility for the recharge of any number at KVB ATM branch
Interest Rate
4% p.a.
(Balance of Rs. 50 lac & above)
3.5% p.a.
(Balance of below Rs. 50 lac )
Minimum Balance
Rs 10,000
Show Details
Features
  • Customizable Axis ATM Cards
  • eDGE loyalty rewards
  • Youth mobile app

Students Savings Accounts

The most important key to financial success is you being aware of how you spend your money. It may not always be easy for one to save their money. Many of us are caught up in living beyond our budget as opposed to what we can afford. It is vital that students learn financial literacy so that they can opportunely look towards their future rather than being burdened with debts.

A Student’s saving account is helpful in aiding students to save money according to their needs and work towards their own financial independence in a step- by- step, effective manner.  

Listed below are banks in India that provide the finest facilities for the best saving plan for students, along with the best interest rates:

1. Kotak Mahindra Bank

Kotak Mahindra Bank is one of the best bank to open a savings account for students in. It is extremely important for students to have a savings account as it will aid them complete their education without having a huge financial burden. Kotak 811 zero balance savings account provided by Kotak Mahindra Bank allows you to open student bank account online, from the confines of their home. You can access the Kotak 811 online savings account with the help of the Kotak Mobile Banking app on  Kotak’s website.   

Additional features of opening a Kotak 811 online savings account are:

  • No minimum balance required.
  • Earn up to 6 percent rate of interest p.a. upon savings
  • Easy banking just with the use of internet and your mobile phone.
  • Provisions of Zero balance banking facility
  • Virtual Debit Card for the ease of online transactions
  • ‘Scan and Pay’ facility for entertainment, grocery shopping and payment of bills and much more!

2. ICICI Bank

ICICI Bank has provided an ICICI Bank@ Campus savings account to help students view their transactions and continually check their account, all with the click of a mouse.  The ICICI Bank@Campus savings account is an online savings account which can be accessed with ease from a computer or a mobile phone.

Features of the ICICI Bank@Campus online savings account is as follows:

  • Easy access to Internet & mobile banking
  • Free personalized cheque book
  • Free Ncash Debit card offered by ICICI Bank
  • Seamless transfer of funds directly from the student’s account to any other account
  • Free supplementary credit card (given you have the ICICI Bank Credit Card)
  • Annual statement of the account’s activities

3. Karur Vysya Bank

As a student, you are eligible to open a savings bank account in Karur Vysya Bank (KVB). You can avail of this service by getting in contact with an existing account holder of KVB bank, or can enquire about opening a savings bank account in KVB bank with the concerned head of your educational institution.

Features of opening a savings bank account with KVB are:

  • No charge for using KVB ATMs all across the country, along with 5 free transactions of other bank ATMs.
  • Best facility for recharging your mobile number at any KVB ATM
  • Provisions for periodic e-statements of your account activities
  • Students can receive additional credits through a proper standing instruction issued by the parents to the KVB bank.

 

4. Axis Bank

Axis Bank has provided the Axis Bank YOUth Savings Account to meet the energetic, educational requirements of the youth today. The Axis Bank YOUth Savings Account functions as a student account for the youth, which encourages them to save money.

The Benefits of a student savings account with Axis Bank is as below:

  • Earn upto 3.5% interest on daily balances
  • Easy access to funds
  • A Customizable Debit card laden with deals
  • eDGE Loyalty rewards
  • Card Design is customizable

5. Digibank by DBS

Digibank by DBS allows a student to open a digiSavings account anywhere, at any time with Internet and mobile phone or computer. It is a digital student savings account which can be created in a matter of seconds

Features of an online student account like digiSavings account are:

  • Gain access to a ‘Visa Tap to Pay’ enabled digibank debit cards which will let you make easy and quick transactions, saves time and is convenient.
  • Earn upto 7% interest on savings
  • Receive a cashback of upto 10% on shopping from online merchants.

6. Standard Chartered Bank

Standard Chartered Bank has provided the Aasan zero balance account which is a technology driven digital account and thus very accessible, especially amongst the youth.

Benefits of the Aasan zero balance account are:

  • It is a zero balance account, which means that no minimum balance is required.
  • Free ATM withdrawals with a debit card provided by the bank
  • Free multicity chequebooks
  • Unlimited access to any Standard Chartered Bank branch, with no additional charges required.

7. State Bank of India

State Bank of India (SBI) has provided Pehla Kadam and Pehli Udaan, two savings account for minors that credits and encourages the importance of saving money.

Features of Pehla Kdam and Pehli Udaan are:

  • Free Internet Banking
  • Free Mobile Banking
  • Availability of Chequebook facility
  • Photo ATM- cum- Debit card

8. Federal Bank

Federal Bank offers Yuvamitra, a student savings account, well- equipped to meet the needs to students. Yuvamitra is a student account that is specially endowed to meet the futuristic requirements of students.

Features of a student savings account like Yuvamitra include:

  • No minimum balance required.
  • Facilities for Internet Banking, Mobile Banking and Mobile Alerts
  • 20 cheque leaves annually
  • Daily cash withdrawals up to Rs. 50,000/-
  • Daily POS transactions up to Rs. 50,000/-

9. Vijaya Bank

Vijaya Bank provides V Genuth Savings Bank Account, by which students studying various courses are eligible to open a student bank account with Vijaya Bank.

Benefits of a V Genuth Savings Bank Account are:

  • One can open an account with a minimum balance of Rs. 10/- and continue as a zero balance account
  • Payment of school fees, hostel fees, etc is free through the account
  • Provisions for chequebook and withdrawal facility

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