Individuals with Legal Age and Capacity

• Any Indian resident who is 18 years or older can open a savings account.
• The individual must be mentally competent to operate a financial account.
• Both salaried and self-employed persons are eligible.
• Students and homemakers can also apply for basic savings accounts.
• Retired individuals are eligible for special senior citizen savings accounts.

Minors Through Guardian Assistance

• Children below 18 years can have accounts opened by parents or legal guardians.
• These accounts are operated by the guardian until the minor becomes an adult.
• Some banks allow children above 10 to operate accounts independently under restrictions.
• KYC of both minor and guardian is required.
• These accounts promote early financial awareness and saving habits.

Non-Resident Indians (NRIs)

• NRIs can open specific types of savings accounts such as NRE or NRO.
• These accounts are designed to manage income earned in or outside India.
• NRE accounts are for foreign earnings; NRO accounts handle Indian income.
• Documents such as overseas address proof and visa details are required.
• RBI regulations apply to fund repatriation and usage.

Foreign Nationals Residing in India

• Foreigners with valid visas and Indian residence proof may open accounts.
• Students, employees, and researchers are eligible with documentation.
• A valid passport, visa, and local address are mandatory.
• Only certain banks offer this facility based on RBI guidelines.
• Limited services may be available depending on account type.

Joint Account Holders

• Two or more individuals can jointly open a savings account.
• They can choose operation modes like “Either or Survivor” or “Jointly.”
• Suitable for spouses, siblings, or business partners.
• All account holders must fulfill KYC norms.
• Consent and signatures from all parties are required during opening.