The 9 Best Digital Banks In India (Digital Banking Guide)

digital banks india

As technology improves, the landscape of banking is rapidly changing. With digital bank accounts, users are able to instantly set up a secure digital account. Once they’ve done this, they’ll be able to start reaping the many benefits digital banking offers. For those living in India, there are many fantastic digital banks to choose from! 

Many of India’s leading banks have expanded their services to include digital banking for customers. From Axis Bank to YES Bank, banks offer competitive digital accounts with many unique benefits. With digital accounts, users in India can manage their finances digitally from their smartphones.  

There is an increasing number of digital banking options available to those in India. From accounts with no minimum balance requirements to advanced accounts with premium benefits, there’s a digital account for everyone. Keep reading as we explore digital banking options available in India! 

Axis Bank 

axis bank

Founded in 1993, Axis Bank is one of the leading banks in India. In fact, Axis Bank holds the title of India’s third-largest bank in the private sector. This well-established bank offers a wide variety of services to their clients, with both personal and corporate financial services being offered. These services include a fully digital account! 

ASAP Digital Account 

Through Axis Bank, you’ll be able to choose from a variety of online savings accounts. You’ll be able to open these accounts digitally. There are plenty of great features provided to customers, which are applicable to all accounts that are opened digitally through Axis Bank. However, the extent of these features may change depending on the account type chosen. 

For instance, your daily purchase limit will vary between Rs. 1 Lakh and Rs. 5 Lakh depending on the account type you select. Furthermore, you’ll have many special offers and cashback options. There are six online account types to choose from, allowing you to find the perfect digital account for your banking needs. 

DBS Bank 

digibank

Founded in 1968, DBS Bank is a multinational banking corporation. While the company has its headquarters in Singapore, where the company originated, DBS has operations in seventeen different markets. These markets include India! In fact, those in India will be able to make use of digital banking services offered by DBS Bank.  

Digibank

DBS understands that the future of banking is digital. Through their Digibank platform, users will be able to access a variety of great banking features, including up to 4% interest on their savings. With their intuitive platform, you’ll be able to simplify the way you bank and control your finances with ease. 

From the perks linked to their debit cards to their goal-based approach to savings, there’s a lot to love about Digibank. With paper-free signup, the future of banking lies in the palm of your hand when you register with Digibank from DBS. 

HDFC Bank 

hdfc bank

HDFC Bank Limited currently holds the title of India’s leading bank in the private sector. Founded in 1994, HDFC Bank’s headquarters is based in Mumbai. In 2020, HDFC was lauded at the Euromoney Awards, voted the Best Bank in India. A variety of digital banking options are among the services offered by HDFC Bank in India.  

Instant Savings and Salary Account Online 

With their digital bank accounts, HDFC Bank is catering to users of all ages! HDFC understands that banking has become more digitized, so why not the process of creating an account? Whether you’re looking to open a salary account or savings account online, HDFC has the perfect digital account options for you to consider. 

The required minimum balance will vary depending on the type of digital account you decide to open. When it comes down to opening your chosen account, you’ll be able to do this online from the comfort of your home. Within 48 hours of registering, you’ll be able to start sending funds and paying your bills with your digital account. 

Digisave Youth Account 

There truly is a digital HDFC Bank account for everyone – even the youth! With a Digisave Youth Account, HDFC is introducing a younger generation to the world of digital banking. After all, digital banking is only becoming more popular!

With great discounts and benefits like cashback with this digital bank account, the youth of today will be able to take advantage of everything offered by digital banking. To be eligible for this type of account, users must be between 18 and 25 years old. With a solid foundation in digital banking, the youth will be prepared for the future of banking.  

ICICI Bank

icici bank

Another one of the leading banks in India’s private banking sector, ICICI Bank was founded in 1955. With a presence in seventeen different countries, ICICI Bank offers a wide variety of services to its clients. This includes digital banking products! 

Instant Online Savings Account

For those looking to take their banking digital, the Instant Savings Account offered by ICICI Bank in India might be a perfect choice. Prospective users will be able to easily create and activate their accounts online. Once they’ve done this, they’ll be able to start reaping the benefits offered by this account. 

Users will be able to get a digital or physical Debit Card – or a combination of both! As users bank with their savings account, they’ll be able to collect reward points, claim unique offers, and get discounts. You’ll be able to complete your banking wherever you are, 24/7. This is the future of banking!

Pockets by ICICI

Pockets is another fantastic digital banking initiative launched by ICICI Bank. With this e-wallet, which is powered through Visa, users will be able to pay bills, shop, send money, and more. With the app, you’ll be able to shop online in India. For in-person payments, users will be able to use a physical Pockets card issued by ICICI. 

When you sign up with Pockets, you’ll be able to create your account instantly, wherever you are. Once you’ve signed up, your wallet will always be with you – in your smartphone. With customer service that’s only a click away, Pockets is revolutionizing the already competitive digital banking landscape in India.  

IndusInd Bank 

indusind bank

Founded in 1994, IndusInd Bank is considered a new-generation bank in India’s private banking sector. Due to this, IndusInd understands that the future of banking is increasingly digital. For those interested in digital banking in India, IndusInd Bank might have the perfect online account!

Indus Digi-Start 

For those looking to open a digital bank account instantly within India, IndusInd Bank’s Indus Digi-Start account might be the perfect fit. Prospective users will be able to create their accounts within an instant, unlocking many great benefits. Another great benefit of this digital account from IndusInd is that there’s no minimum balance requirement. 

Once the setup process is complete, users will be able to start earning rewards points and cashing in on discounts. There are four debit card options for users of this Digi-Start account, allowing everyone to find the perfect option for their banking needs. While all digital accounts are subject to many benefits, these may vary depending on the debit card choice selected upon registration.

Kotak Mahindra Bank

kotak bank

Founded in 2003, Kotak Mahindra Bank Limited is one of the newer financial institutes in India. However, this hasn’t stopped them from offering highly competitive financial services. In fact, as of 2021, Kotak is one of the leading banks in India’s private banking sector. Among their offered services is a digital savings account! 

811 Digital Account 

With Kotak Mahindra Bank’s 811 Digital Accounts, prospective clients will be able to instantly create a digital bank account and begin maximizing their money. There are two digital account options: the Kotak 811 Digital Savings Account and the Kotak 811 Edge Savings Account. That means there’s an account for everyone’s banking needs! 

Kotak users will be able to earn up to 3.5% interest per annum on their savings account. There’s also no minimum balance requirement for the 811 Digital Savings account. Users will be able to manage their finances whenever and wherever the need arises from the nifty Kotak 811 app. Users will also have access to a virtual debit card, free of charge! 

RBL Bank 

rbl bank

Previously known as Ratnakar Bank, RBL Bank was founded in 1943. With its headquarters in Mumbai, RBL also forms a part of India’s private banking sector. The Asian Banker Financial Technology Innovation Awards previously lauded RBL Bank’s initiatives towards self-service banking. This is reflected in their digital savings account! 

Digital Savings Account

RBL understands that, in this day and age, everything is becoming digital. That’s why they’ve taken a step forward by introducing their digital savings account. With an instant digital signup process, users will soon be reaping the benefits of this secure online savings account. For one, these accounts have higher interest rates! 

Users will be able to do their banking on the move, any time of the day. From withdrawing money to paying bills, you’ll be able to do it all with this digital RBL account. Users will even be able to invest any spare funds simply through the RBL online platform. With their robust app, you’ll be able to do all your banking digitally. 

YES Bank 

yes bank

YES Bank, headquarter in Mumbai, is a private sector bank that was founded in 2004. The State Bank of India (SBI) currently holds a 30% stake in YES Bank. As a newer bank in the Indian market, YES Bank has its sights set on the future of banking – which is digital! 

Digital Savings Account 

YES Bank knows how valuable time is – which is why they now allow people to set up a digital savings account remotely. Like the signup process, your digital YES Bank savings account is easy, secure, and, most importantly, completely digital! Within a few easy steps, prospective users will be able to set up their digital accounts. 

There are two account types available: Savings Account PRO and Savings Account PRO Plus. Users will be able to use a virtual or physical debit card linked to their digital account. What’s more, clients will be able to collect rewards points that can be redeemed later. There are many fantastic benefits to these digital accounts from YES Bank. 

State Bank of India (SBI)  

yono sbi

With its headquarters located in Mumbai, the State Bank of India has been providing outstanding financial services for many years. As one of the world’s 50 largest banks, SBI offers many fantastic services that allow them to remain as competitive as ever. This can truly be seen with their YONO digital banking initiative! 

YONO Digital Savings Account

From the State Bank of India, the YONO Digital Savings or Edge Account is the first in India to offer this digital banking service without a minimum balance. The perks don’t stop there, however! YONO users will be able to earn up to 3.5% interest annually. Users will also receive a free virtual debit card!

While the YONO Digital Savings Account may be sufficient for most users, customers will be able to upgrade to the Kodak 811 Edge Savings Account. With the latter account, however, a minimum balance of Rs. 10,000 must be maintained. Whichever account you decide on, you’ll be able to do your banking whenever suits you, wherever you are. 

Summary

Across the globe, people are discovering the advantages of having their banking needs at their fingertips through digital banking. For those residing in India, there are plenty of great digital accounts to choose from. With instant and remote registration processes, you’ll be able to revolutionize the way you do your banking from the palm of your hand! 

Recommends

As a Current mobile banking app affiliate, I earn from qualifying purchases.

Recommends

As a Current mobile banking app affiliate, I earn from qualifying purchases.