You can deposit money into a regular or basic savings account at any time. Throughout the year, the account receives a tiny portion of its balance in interest. You will be obliged to have a minimum amount in your savings account and will be penalised if you do not. You will have deposit and tenure flexibility, but withdrawals will be restricted.
Types of Basic/Regular Savings Accounts offered by Banks
Here is a list of the main banks that provide Regular or Basic savings accounts, along with the interest rates and minimum balance requirements.
| Banks | Interest Rate | Min Balance needed |
| AU Small Finace Bank Samarth Saving Scheme | 3.50%-7.00% | Rs. 5,000 |
| DBS Bank Digi Account | 3.00%-4.00% | Average Monthly Balance of Rs. 5000 |
| ESAF Small Finance Bank Regular Saving Account | 4.00%-7.00% | Rs. 1,000 |
| Equitas Small Finance Bank Regular Saving Account | 3.50%-7.00% | N.A. |
| HDFC Bank Regular Savings Account | 3.00%-3.50% | For metro Urban branches, Rs. 10,000 is required. To create a Savings Regular Account, you’ll need Rs. 5,000 for semi-urban branches and Rs. 2,500 for rural branches. |
| ICICI Bank Regular Savings Account | 3.00%-3.50% | 10,000 rupees in metro and urban areas, 5,000 rupees in semi-urban areas, and 2,000 rupees in rural areas |
| Jana Small Finance Bank Regular Saving Account | 3.50%-7.25% | Rs. 2500 |
| SBI Basic Savings Bank Account | 2.75% | NIL |
| Ujjivan Small Finance Bank Ujjivan Bank Regular Savings Account | 4.00%-7.00% | N.A. |