How many Savings Account one should ideally have?

I have seen people with more than 5 or 5 savings account but is it worth or sensible to have so any account when we have average income and not an extraordinary one...


Active Member
not necessarily ...
it;s best to have atleast 3 account

1 primary saving account (You never use debit card of this account for ONLine shoping NEVER) (This account should not have more then 10 lakhs) if u have more then
best to choose HDFCBANK or ICICBANK OR any BIG BANK only spread out account and don;t keep more then 10 Lakhs in any account.

If bank goes bust RBI will give u only 5 lakhs remember that no matter how much u had in account.

second saving account for investing (this account will always have only 11k or 10k as min balance and at time may be 2 lakhs in ipo days lol )
this can be kotak bank ^^ lol

third for buying online site like amazon / flipkart (this account will always have only 11k or 10k as min balance )
put money here only when u want to buy from main primary account so if your debit card got hacked u loose is 10K not more
sbi bank is preffered as sbi card have offer

this is way i do it 3 be sufficient

There is 4th hidden bank account too....
THIS account NEFT online transfer Be disabled (Dont give mobile number while opening).
ONly Debit card be working that u never use unless you have too
this account you only deposit money to be used in case of emergency .
Hospital money / vacation money can be stored here

So yeah 1 must have atleast 3 saving account
I think this depends upon one’s need as everyone has his own style of parking funds. I think one should have a minimum 2-3 accounts to mitigate the risk of bankruptcy. I also use 2 savings accounts in different banks to park my funds.
It only makes sense to open multiple savings account, if it is linked to financial goal/objective. If you can manage all your goals through a single account then nothing like that.

To hold multiple savings account has its own advantages and disadvantages. You may evaluate the same depending on your requirement. If you are planning to open 1 or 2 then you may open in a bank with the highest number of branches/ ATM network. It is advisable to open 1 account in a bank with a strong regional presence. In my case, I hold an HDFC Bank savings account and have never faced any issues to date as they have a simple user interface for internet banking which has been a great help for me.

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