How many bank accounts should a person have

There is no legal limit to the number of bank accounts you can hold in India, but financial experts generally recommend maintaining between 2 and 4 accounts for effective management. This allows you to segregate funds while avoiding excessive non-maintenance charges. A suggested structure includes:

• A primary salary account for receiving income
• A dedicated account for an emergency fund
• An account for investments and long-term goals
• A separate account for daily expenses or UPI transactions to improve security

Maintaining a limited number of accounts helps in better tracking of financial goals and simplified tax management.