What is the cheapest bank account to open?
But, if you're tight on money, traditional banks could deny your application for an account simply because you can't put an initial deposit down. The good news? Yes, opening a bank account online with no deposit is entirely possible.
- Discover Bank, Cashback Debit Account: Earns 1% cash back on eligible debit card purchases, $0 minimum deposit.
- NBKC Bank, Everything Account: 1.75% APY; $0 minimum opening deposit.
- Ally Bank, Interest Checking Account: 0.10%-0.25% APY; $0 minimum opening deposit.
| List of Banks | Minimum Balance Required(INR) | Interest Rates (p.a.) |
|---|---|---|
| Dena Bank Saving Accounts | 0 | 2.75% - 4.50% |
| Dhanlaxmi Bank Saving Accounts | 0/5/1000/5000/10000/25000 | 3.00% - 4.00% |
| Digibank Saving Accounts | 0 | 3.00% - 7.00% |
| Federal Bank Saving Accounts | 0 | 3.05% - 7.15% |
But, if you're tight on money, traditional banks could deny your application for an account simply because you can't put an initial deposit down. The good news? Yes, opening a bank account online with no deposit is entirely possible.
- Best for rewards: Discover® Cashback Debit Checking.
- Best for branch access: Capital One 360® Checking Account.
- Best for out-of-network ATMs: Alliant Credit Union High-Rate Checking Account.
- Best for earning interest: Ally Bank Spending Account (Ally's checking product)
| Financial Institution | APY | Minimum Opening Deposit |
|---|---|---|
| Schwab | 0.45% | $0 |
| Dream First Bank | 1.01% | $50 |
| Capital One 360 | 1.00% | $0 |
| American Express | 1.00% | $0 |
NBKC Bank Everything Account
There is no monthly maintenance fee and no minimum monthly balance or activity requirement. Everything Account holders also get access to more than 37,000 fee-free ATMs in the MoneyPass network, and nbkc will reimburse up to $12 of U.S. out-of-network ATM fees per month.
| Account | Approximate time to complete application | Minimum opening deposit |
|---|---|---|
| Chime® Checking Account: Best for Bad Credit | 3 to 4 minutes | $0 |
| Current Savings Pod: Best for Debit Card Rewards | 3 to 4 minutes | $0 |
| Capital One 360 Checking Account: Best for ATMs | 3 to 4 minutes | $0 |
| BANK | BONUS AMOUNT | MONTHLY MAINTENANCE FEE |
|---|---|---|
| BANK OF AMERICA | $200 | $4.95 |
| BMO | $250 | $0.00 |
| CHASE | $300 | $12.00 |
| CIBC | $200 | $0.00 |
| Sr.No. | Bank Name | Rates of Interest(p.a.) |
|---|---|---|
| 1 | State Bank of India | 2.70% - 3.00% |
| 2 | Union Bank of India | 2.75% - 3.55% |
| 3 | HDFC Bank | 3.00% - 3.50% |
| 4 | ICICI Bank | 3.00% |
What is the easiest bank account to open online?
The financial institutions we recommend with the easiest bank accounts to open online include Discover® Bank, SoFi, U.S. Bank, and Bank of America. We especially like how Discover and SoFi stand out from the crowd with their focus on online and mobile banking.
Bottom Line. The primary reasons people can't open a bank account are negative items on a ChexSystems or Early Warning Services report, errors on the reports or bad credit.
Free Checking Accounts
Free checking means that the account doesn't charge a recurring fee, such as a monthly maintenance fee, and doesn't have a minimum balance requirement to avoid a fee. Nevertheless, that doesn't mean that every single service associated with the checking account will be free.
Chase Total Checking®, the bank's basic checking account, has a monthly fee of $12, though you can get it waived by meeting one of a few requirements.
| Bank | Name of zero-balance savings account | Interest rate |
|---|---|---|
| IndusInd Bank | Indus Small Savings Account | 4% |
| IDFC Bank | Pratham–savings account (BSBDA) | Up to 6.75% |
| RBL Bank | Digital Savings Account | 7.00% |
| Kotak Mahindra Bank | 811 | 3.50% |
Yes. To avoid the monthly maintenance fee on Advantage Relationship banking, you must maintain a combined balance of $10,000 or more in the account each statement cycle OR be enrolled in the Preferred Rewards program and qualify for the Gold, Platinum, Platinum Honors, Diamond or Diamond Honors tier.
- Monzo: Monzo is a popular digital bank with an easy app and account opening. ...
- Starling Bank: Like Monzo, Starling Bank has a quick account opening and mobile app. ...
- Barclays: Barclays is a multinational British investment bank and provider of financial services.
Some banks may allow you to open a checking account with no deposit, while others may require a small initial deposit. Even if there are no minimum deposit or balance requirements, there may be fees associated with the account. Read the fine print carefully and find out about any fees or charges before signing up.
Santander. Santander is another provider which is offering a cash incentive for switching to one of several current accounts. The Everyday Current Account could be a great option for those wanting a basic home for their cash with no monthly fee.
- Make a minimum initial deposit.
- Keep the account open for a minimum period of time.
- Complete a minimum amount of direct deposits each month.
- Maintain a minimum balance.
- Wait weeks or months to receive the bonus.
- Open the account online or at a branch.
How to get $600 bonus from Chase?
Chase Checking and Savings Account Bonus
Say you want to earn the $300 Chase Total Checking bonus and the $200 Chase Savings bonus. If you open both accounts together, you'll get an extra $100, bringing your total bonus amount to $600.
Online banks offer higher interest rates on savings products and lower interest rates on loans. If you need to deposit cash regularly, you'll likely want the convenience of a brick-and-mortar bank's ATM network.
Ex-Goldman Sachs helping train students/recent grads to secure jobs in banking - 90% placement rate to banks like GS, UBS and JP. These are the 10 hardest investment banks to get a job at in the world🌍👇 1. JP Morgan 2. Goldman Sachs 3.
- Suryoday Small Finance Bank Limited – Best CRAR on the list.
- Ujjivan Small Finance Bank Limited – Best in Deposits CAGR.
- Equitas Small Finance Bank Limited – Best in CASA Ratio.
- Fincare Small Finance Bank Limited – All-India SFB with a Diversified Portfolio.
- Aadhaar card.
- Mobile linked to Aadhaar for OTP.
- PAN card.
- Recent scanned image of photograph-Size Up to 1 Mb.
- Scanned image of address proof of address (POA) -Size up to 1 Mb.
- Scanned image of Proof of Identity - Size up to 1 Mb.
