Quick comparison (overview)
| Account type | Best for | Typical min balance | Interest | Key notes |
|---|---|---|---|---|
| Savings account | Everyday banking | Low to medium | Yes (usually) | Debit card + UPI + net-banking |
| Current account | Business transactions | Medium to high | Usually no | Higher limits; fees vary |
| Salary account | Salaried employees | Often zero | Sometimes | Benefits depend on employer tie-up |
| Basic savings (BSBDA/Jan Dhan) | Zero-balance option | Zero | Yes (usually) | Limits may apply |
| Fixed deposit (FD) | Safer fixed returns (locked) | Deposit amount | Yes (fixed) | Penalty may apply on early break |
| Recurring deposit (RD) | Monthly saving habit | Monthly deposit | Yes (fixed) | Works like “monthly FD” |
| NRE account | NRIs (income earned abroad) | Varies | Yes (usually) | Repatriable; rules vary |
| NRO account | NRIs (income earned in India) | Varies | Yes (usually) | Taxes/rules may apply |
Numbers and features vary by bank, city, and account variant. Always check the bank’s official schedule of charges.
Comparison table (common bank accounts in India)
| Account type | Typical minimum balance | Interest (general) | Best use | Best for |
|---|---|---|---|---|
| Savings Account | Often ₹0–₹10,000+ | Low | Daily banking | Salaried + families |
| Current Account | Often ₹0–₹50,000+ | Usually none/low | Business transactions | Businesses |
| Salary Account | Often ₹0 | Low | Salary credit | Salaried employees |
| Fixed Deposit (FD) | Not applicable | Fixed (varies) | Capital protection | Goal-based savings |
| Recurring Deposit (RD) | Not applicable | Fixed (varies) | Monthly saving habit | Short/medium goals |
| Zero Balance Account | ₹0 | Low | Simple savings | First-time users |
| Joint Account | Varies | Varies | Shared banking | Families/couples |
| Senior Citizen Account | Varies | Low | Convenience + benefits | Senior citizens |
| Minor Account | Varies | Low | Child banking | Parents/guardians |
| NRI Account | Varies | Varies | NRI banking setup | NRIs |
| NRE Account | Varies | Low | Repatriable INR | NRIs earning abroad |
| NRO Account | Varies | Low | India income management | NRIs with India income |
| FCNR Account | Varies | Varies | Foreign currency deposit | NRIs (FX exposure) |
| Demat Account | Not applicable | Not interest-based | Hold securities | Investors |
| BSBDA | ₹0 (basic) | Low | Basic banking | Low-income users |
| Pension Account | Often ₹0 | Low | Pension credit | Pensioners |
| Women’s Savings Account | Varies | Low | Savings + offers | Women customers |
| Kids Savings Account | Varies | Low | Kids saving habit | Parents + kids |
| Student Account | Often ₹0 | Low | Student banking | Students |
| Digital Savings Account | Often ₹0 | Low | Online banking | Digital-first users |
| Jan Dhan Account | ₹0 | Low | Financial inclusion | Eligible individuals |
| Corporate Salary Account | Often ₹0 | Low | Employer-linked | Employees |
| Escrow Account | Varies | Not focus | Controlled payments | Deals/transactions |
| Trust Account | Varies | Varies | Trust operations | Trusts |
| Institutional Account | Varies | Varies | Institutions | NGO/Institutions |
| Business Account | Varies | Usually none/low | Business banking | SMEs |
| Cash Credit Account | Varies | Varies | Working capital limit | Businesses |
| Overdraft Account | Varies | Varies | Short cash gap | Businesses/salaried (OD) |
| Foreign Currency Account | Varies | Varies | Hold FX | NRIs/FX earners |
| Sweep-In Account | Varies | Blended | Auto FD sweep | Cash + better yield |
General comparison for learning; exact rules vary by bank, variant, and location.