Types of Bank Accounts offered in India to all age groups

For many of us, a Bank Account is what our parents opened for us or held together. But as we start earning, you understand the need to own your account. This is when you visit the bank branch or go online to open an account and start your financial journey. But Indian banks offer several accounts, each catering to different age groups.
Some of the popular Savings Account you can open are: 
Basic Accounts
This is the most common account that does not come with any limit on money deposited. But there is a cap on the amount you can withdraw daily. Withdrawals are possible via cheques, payment slips, or ATMs. Upon opening such accounts, you are given a free chequebook and need to maintain an average monthly balance.
Joint Accounts
If you hold the Bank Account with another individual, it is a Joint Account. In India, they function like Family Accounts, with up to four people typically named as holders of an account. Here, the accountholders are primarily adults, and the bank also offers a Debit Card to each. All account holders can jointly operate the account.
Digital Accounts
Also called online Bank Account, they are ideal for those who can easily manage all their banking needs. Account holders receive the highest interest rates on their deposits, unlike Regular Accounts. They also need not pay any account maintenance fees, nor is there a requirement for minimum balance maintenance.
Senior Citizen Accounts
These are meant for senior citizens, especially those over 60 years and above. Account holders here are provided with slightly higher interest rates (0.5% more) on their savings. They also get waivers on maintaining minimum balances and get better rates on term deposits.
Women Accounts
Those ladies above 18 can open Savings Account with many benefits. Opening this account provides high-interest rates on their deposits. Women also get discounts on numerous bank products and complimentary Insurance coverage. They are also offered Debit Cards with high daily withdrawal and shopping limits.
Minor Accounts
These work like Joint Accounts. Here, the primary account holder is a minor, and a parent or a guardian operates the account until the minor turns 18. Once they complete 18 years, the account gets automatically converted into a Regular or Joint Account.
Pradhan Mantri Jan Dhan Yojana Account
To encourage all Indians, especially the lower income groups, to hold a Bank Account, the Indian Government launched such an account. There is no mandate for maintaining a minimum balance here. These account holders are provided Rupay Debit Cards. They also get free accidental cover worth Rs. 1 lakh and Insurance cover of Rs. 30,000.
Savings Accounts play a crucial role in building wealth. The account grows with every deposit you make in it. You can open your account through the Banking app or Internet Banking or visit the bank branch.