When opting for a bank account, don’t just look at the interest rates. The no-frills account—basic savings bank deposit account—requires zero minimum balance, and there’s no limit on the maximum amount. But if you opt for a savings account, you can get a whole host of services. In large private banks, you can also get an instant savings account that can be opened online; there are women savings accounts that mostly offers benefits on shopping and children’s savings account for those below 18 years. Some may have a savings account for seniors catering to their pension needs.

Source: Mint May 30, 2021 12:11 UTC