The State Bank of India (SBI) is the largest public sector bank in India, trusted by millions of customers across the country. Whether you’re a student, a senior citizen, a salaried employee, or an NRI, SBI offers a variety of savings accounts designed to meet your unique financial needs.
Each type of SBI savings account has its own features, benefits, and eligibility criteria — from basic zero-balance accounts to specialized options for minors, women, and NRIs.
In this 2025 guide, we’ll explain all the types of SBI savings accounts, their key features, interest rates, minimum balance requirements, and how to open them easily through the YONO SBI app or at your nearest branch.
Why Open an SBI Savings Account?
Before diving into the account types, let’s understand why millions of Indians prefer SBI:
- Nationwide Network – Over 22,000 branches and 63,000+ ATMs.
- Digital Banking – Easy access through YONO and Internet Banking.
- Safety & Trust – Backed by the Government of India.
- Insurance Benefits – Free personal accident cover with certain debit cards.
- Flexible Account Options – From basic to premium savings products.
- Attractive Interest Rates – Competitive interest on deposits.
Types of SBI Savings Accounts (2025)
Here are the main SBI Savings Account types currently available:
| Sr. No. | Account Type | Ideal For | Minimum Balance | Key Features |
| 1 | SBI Basic Savings Account (Small Account) | Low-income individuals, new customers | ₹0 | Simplified KYC, Zero balance, RuPay card |
| 2 | SBI Insta Plus Savings Account (Video KYC) | Online account opening users | ₹0 | Open instantly via YONO, full KYC via video |
| 3 | SBI Minor Account (Pehla Kadam / Pehli Udaan) | Children & teenagers | ₹0 | Joint or self-operated, educational benefits |
| 4 | SBI Savings Plus Account | Regular savers wanting higher returns | ₹1000–₹3000 | Auto sweep to FD, better interest |
| 5 | SBI MACT Savings Account | Motor accident claim beneficiaries | ₹0 | No fees, easy access for compensation |
| 6 | SBI RFC (D) Account | Returning Indians with foreign earnings | As per rules | Multi-currency, interest on foreign funds |
1. SBI Basic Savings Bank Deposit – Small Account
Overview
The SBI Small Account is a simple, zero-balance account ideal for people who do not have full KYC documents. It provides basic banking access under RBI’s financial inclusion program.
Key Features
- Can be opened with any official ID proof (like Aadhaar or NREGA card).
- No minimum balance required.
- Maximum balance: ₹50,000 at any time.
- Maximum credits: ₹1,00,000 in a financial year.
- Maximum withdrawals: ₹10,000 per month.
- ATM card issued: Free RuPay Debit Card.
- Free passbook provided.
Eligibility
- Any Indian citizen above 18 years.
- Suitable for people with limited KYC documents.
Account Limitations
- Limited cash deposits and withdrawals.
- Cannot open multiple small accounts.
- Must be upgraded to a full KYC account within 24 months for continued use.
Benefits
- Zero balance account.
- Financial inclusion for all sections of society.
- Access to digital banking via YONO or ATM.
2. SBI Insta Plus Savings Account (Video KYC Account)
Overview
The SBI Insta Plus Savings Account is a fully digital account you can open from the comfort of your home. It uses video KYC (Know Your Customer) verification through the YONO SBI app, making account opening 100% paperless.
Key Features
- Open instantly using PAN, Aadhaar, and smartphone.
- No branch visit required.
- Full KYC completed through secure video call.
- Zero balance account.
- Free RuPay Debit Card and Internet Banking access.
- Earns regular savings interest rate.
Eligibility
- Indian resident above 18 years.
- Must have PAN and Aadhaar linked to mobile number.
Benefits
- Completely paperless account.
- Access to all SBI digital services.
- Upgrade to full savings account after KYC verification.
- Ideal for young professionals and digital users.
3. SBI Minor Savings Accounts – Pehla Kadam & Pehli Udaan
Overview
SBI offers two special savings accounts for children and minors — Pehla Kadam (for minors with guardians) and Pehli Udaan (for self-operated minors aged 10–18 years).
Key Features
- Zero balance accounts.
- Personalized photo ATM debit card issued.
- Cheque book available.
- Parents or guardians can set spending limits.
- Interest rates same as regular savings accounts.
Eligibility
- Pehla Kadam: For minors below 18 years, jointly operated with a guardian.
- Pehli Udaan: For minors aged 10–18 years who can sign consistently.
Benefits
- Encourages saving habits among children.
- Safe way to learn digital transactions.
- Free education insurance in some variants.
4. SBI Savings Plus Account
Overview
The SBI Savings Plus Account is a smart savings-cum-fixed deposit account. It automatically transfers surplus funds from your savings account to a Multi Option Deposit (MOD), giving you higher returns while keeping your money accessible.
Key Features
- Auto sweep to FD when balance exceeds set limit (e.g., ₹50,000).
- MOD deposits created in multiples of ₹5,000.
- Premature withdrawal allowed anytime.
- Regular interest credited quarterly.
Eligibility
- Available to all individual residents and joint holders.
Benefits
- Earn higher interest without locking funds.
- Maintain liquidity while enjoying FD benefits.
- Suitable for salaried professionals and business owners.
5. SBI MACT Savings Account (Motor Accident Claim Tribunal)
Overview
This special savings account is designed for people receiving compensation under Motor Accident Claim Tribunal (MACT) cases. It ensures safe and transparent handling of settlement funds.
Key Features
- Zero balance account.
- No fees or charges.
- Withdrawal or transfer only after court authorization.
- Interest paid as per standard savings rate.
- Account opened in the name of the claimant only.
Eligibility
- Motor accident victims or legal heirs receiving claim settlement.
- Requires court order and ID proof for opening.
Benefits
- Safe custody of compensation funds.
- Prevents misuse or unauthorized withdrawal.
- Transparent process under court supervision.
6. SBI RFC (D) Account – Resident Foreign Currency (Domestic)
Overview
The RFC(D) Account is designed for returning Indians (NRIs who have come back to India permanently). It helps them park their foreign currency earnings in USD, GBP, or EUR, and earn interest on them in the same currency.
Key Features
- Maintained in USD, GBP, or EUR.
- No conversion loss as funds stay in foreign currency.
- Interest paid in same currency.
- Can be converted to NRE/NRO later if status changes again.
Eligibility
- Available only to resident Indians who were previously NRIs.
- Funds must come from foreign earnings or NRE/FCNR accounts.
Benefits
- Protection from forex fluctuations.
- Convenient for NRIs returning to India.
- Easy fund repatriation and conversion flexibility.
Comparison Table: SBI Savings Accounts at a Glance
| Account Type | Min Balance | Who Can Open | Special Feature | Debit Card | Digital Access |
| Small Account | ₹0 | Any Indian citizen with limited KYC | Zero balance, max ₹50,000 balance limit | RuPay card | Yes |
| Insta Plus (Video KYC) | ₹0 | Resident Indians (Aadhaar + PAN) | Open via YONO app, paperless | RuPay | Yes |
| Pehla Kadam / Pehli Udaan | ₹0 | Children / Minors | Photo card, cheque book | Personalized card | Yes |
| Savings Plus | ₹1000–₹3000 | Adults, joint holders | Auto sweep to FD | Regular debit card | Yes |
| MACT Account | ₹0 | Court awardees | Motor accident claim settlement | NA | Limited |
| RFC(D) Account | N/A | Returning NRIs | Holds funds in foreign currency | NA | Yes |
How to Open an SBI Savings Account
Online (via YONO SBI App)
- Download YONO SBI App.
- Choose “New to SBI” → “Open Savings Account”.
- Select account type (e.g., Insta Plus, Regular).
- Enter PAN, Aadhaar, and mobile number.
- Complete video KYC.
- Account activated instantly; get account number and virtual card.
Offline (Branch Method)
- Visit the nearest SBI branch.
- Fill out the account opening form (AOF).
- Submit KYC documents (PAN, Aadhaar, Photo).
- Deposit initial balance (if applicable).
- Collect passbook and debit card.
Frequently Asked Questions (FAQs)
Q1. What is the minimum balance for SBI Savings Account?
It depends on your account type. Small and Insta Plus accounts are zero-balance, while regular and Savings Plus accounts may require ₹1000–₹3000.
Q2. What is the interest rate on SBI Savings Account in 2025?
SBI currently offers 2.70% to 3.00% p.a. on savings account balances.
Q3. Can I open an SBI account without visiting a branch?
Yes, you can open an Insta Plus Savings Account online using the YONO app through video KYC.
Q4. Can I convert my small account into a regular savings account?
Yes. You can upgrade your Small Account to a full KYC account anytime by visiting the branch with valid ID and address proof.
Q5. Does SBI provide insurance with debit cards?
Yes. Most SBI debit cards come with accidental death insurance cover, subject to terms and active card usage.
Conclusion
The State Bank of India offers a wide range of savings accounts tailored for different customer needs — from basic Small Accounts to digital Video KYC accounts and specialized accounts like MACT and RFC(D).
Whether you’re opening your first bank account or managing advanced financial needs, SBI ensures safety, convenience, and trust. With digital banking via YONO, you can open and manage your savings account anytime, anywhere.
So, choose the SBI savings account that best fits your lifestyle — and start your journey toward smarter savings today!