Best Bank Account for College Student with No Income and Low Fees

[mdatharsharif]

Hello everyone,

I'm currently 20 years old and will soon be starting college. I'm looking to open a bank account with a debit card that doesn't have annual or renewal fees, as I don't have any income at the moment and want to keep my expenses low. While interest rates are not my priority right now, I'm open to any suggestions or recommendations from those who have experience with student-friendly bank accounts.

Any advice on which bank or specific account would be a good fit for someone in my situation would be greatly appreciated. Thank you in advance for your help!

 

[hitirfan]

SBI has 0 balance Insta Save Digital Account

 

[mdatharsharif]

@hitirfan Thank you for the information. However, I noticed that there is an annual charge of INR 200 for the debit card. On the other hand, BOB Bro offers a debit card with no annual fees, which is why I am currently inclined towards it.

 

[Skylar]

@hitirfan Thank you for the information. However, I noticed that there is an annual charge of INR 200 for the debit card. On the other hand, BOB Bro offers a debit card with no annual fees, which is why I am currently inclined towards it.

SBI has more branches and ATM's than BOB

- SBI debit card fee 200+36 (18%GST), But if your card is inactive for a year then no charges. SBI has better app than BOB, But If you are not using a debit card then you can go with BOB.

SBI interest rate - 2.70
BOB - 2.75

 

[wcgxlr8]

RBL also has a zero balance savings account which gives ~4% interest. The question would be the accessibility of RBL ATMs/branches nearby to your place.

 

[mdatharsharif]

@Skylar It is still in my considerations. i will think about it

@wcgxlr8

Joining fee for GO Account INR 1,999 +GST
Renewal fee for GO Account will be INR 599 +GST p.a. (Waived off on spends of INR 1 Lac or above using GO Debit Card in the previous year)
*Terms and Conditions Apply
GO Account is available only digitally.

Sounds a bit shady, moreover i dont think ill be spending 1lac+ /yr

 

[Jigneshpurohit]

Bank of baroda is best for college students no any hidden charges

 

[wcgxlr8]

@Skylar It is still in my considerations. i will think about it

@wcgxlr8


Sounds a bit shady, moreover i dont think ill be spending 1lac+ /yr

I wasn’t speaking about the go account, just the normal DSA.

 

[mdatharsharif]

I wasn’t speaking about the go account, just the normal DSA.

Sorry for my confusion. This is a good option. Added to my considerations


Btw do UPI transactions count as Debit card Spends?

Also, Jio Payments Bank looks like a good option. Anyone have reviews on that?

 

[wcgxlr8]

Sorry for my confusion. This is a good option. Added to my considerations


Btw do UPI transactions count as Debit card Spends?

Also, Jio Payments Bank looks like a good option. Anyone have reviews on that?

UPI transactions aren't considered as debit card spends. No idea on JIO payments bank though

 

[Arvind020]

Hello everyone,

I'm currently 20 years old and will soon be starting college. I'm looking to open a bank account with a debit card that doesn't have annual or renewal fees, as I don't have any income at the moment and want to keep my expenses low. While interest rates are not my priority right now, I'm open to any suggestions or recommendations from those who have experience with student-friendly bank accounts.

Any advice on which bank or specific account would be a good fit for someone in my situation would be greatly appreciated. Thank you in advance for your help!

You can open your account there are many banks which offers you to open account at zero balance with debit card also some banks are as follows
1 Kotak 811
2 Federal Bank
3 Fampay is also good option with digital debit card option
4 SBI
If you have PAN Card then you can try in this also to manage your expenses
5 Slice
6 One Card
7 Jupiter
All this above app help to manage expenses and make your CIBIL score best.
Thank You

 

[Arvind020]

Hello everyone,

I'm currently 20 years old and will soon be starting college. I'm looking to open a bank account with a debit card that doesn't have annual or renewal fees, as I don't have any income at the moment and want to keep my expenses low. While interest rates are not my priority right now, I'm open to any suggestions or recommendations from those who have experience with student-friendly bank accounts.

Any advice on which bank or specific account would be a good fit for someone in my situation would be greatly appreciated. Thank you in advance for your help!

You can open your account there are many banks which offers you to open account at zero balance with debit card also some banks are as follows
1 Kotak 811
2 Federal Bank
3 Fampay is also good option with digital debit card option
4 SBI
If you have PAN Card then you can try in this also to manage your expenses
5 Slice
6 One Card
7 Jupiter
All this above app help to manage expenses and make your CIBIL score best.
Thank You

 

[mdatharsharif]

You can open your account there are many banks which offers you to open account at zero balance with debit card also some banks are as follows
1 Kotak 811
2 Federal Bank
3 Fampay is also good option with digital debit card option
4 SBI
If you have PAN Card then you can try in this also to manage your expenses
5 Slice
6 One Card
7 Jupiter
All this above app help to manage expenses and make your CIBIL score best.
Thank You

These suggestions seem interesting. I will look into these. Thank you