How much money is needed to open a bank account

The amount of money needed to open a bank account in India varies by the type of account and the bank's location.

• Zero-Balance Accounts: You can open a Basic Savings Bank Deposit Account (BSBDA) or a Pradhan Mantri Jan Dhan Yojana (PMJDY) account with zero initial deposit.
• Regular Savings Accounts: Many public sector banks require a minimum balance starting from Rs. 250 to Rs. 1,000.
• Private Sector Banks: These often require a higher initial deposit or monthly average balance, typically ranging from Rs. 2,500 to Rs. 10,000 or more depending on the city.