The amount of money required to open a bank account in India varies significantly depending on the bank and account type. Many leading banks offer Zero-Balance Savings Accounts, which require no initial deposit or minimum balance. For regular accounts, requirements typically depend on the branch location:
- Rural areas: Minimum balance can range from ₹250 to ₹2,500.
- Semi-urban areas: Requirements often range between ₹500 and ₹5,000.
- Urban/Metro areas: Minimum balance typically starts from ₹1,000 and can go up to ₹10,000 or more.
Always check with the specific bank for their current initial deposit and maintenance rules.