Types Of Savings Accounts And Their Differences

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There are different types of savings accounts. Some are meant for specific individuals while others offer premium benefits. Check out some of the common types.

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Regular savings account

This is a basic account which requires you to maintain a minimum average balance and offers all banking facilities.

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Women’s savings account

This account is for women. It offers preferential interest rates and banking privileges like free locker rental, premium debit card, etc.

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Senior citizen’s savings account

Meant for individuals aged 60 years and above, the account offers higher interest rates and lower average balance requirement.

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Zero balance/salary account

This account is for salaried employees and is meant for easy salary credits. It does not require any minimum balance requirements. 

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Minor’s savings account

Meant for children, this account can be opened by parents in the minor’s name. It helps in teaching children the basics of banking.

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Assess your needs to find the right account. Choose Metra Trust’s range of savings accounts and earn interest up to 7.25% p.a. with monthly credits.

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