how many bank account can one person hold

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Deal Subedar
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Also please post which bank is best in your experience for savings and which criteria they follow minimum balance Vs average balance

AFAIK

HDFC – Combined minimum + average
Rbl – Average balance
Citi -  NRV
CUB -AVERAGE
INDUSIND – minimum/average
BOB – Minimum

29 Comments  |  
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Deal Subedar
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No limits. But you need to mention bank accounts while filing ITR.

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Community Angel
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Yes , you can have unlimited accounts but have to link PAN , so taxable after crossing limits .

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Blogger
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one account per bank.
no limit on total number of account as on date.
but govt is trying to bring this number to 10. as per news Sooner

also bank merger will happen next april.
so you have no escaping .

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Deal Lieutenant
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rogerthat wrote:

one account per bank.
no limit on total number of account as on date.
but govt is trying to bring this number to 10. as per news Sooner

also bank merger will happen next april.
so you have no escaping .

One joint with a family person and one separate in one bank
Is this allowed?

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Deal Lieutenant
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Brother as per my knowledge, with SBI under one CIF you can have multiple CASA Accounts. 🙂 No problem bro. But the problem is if you have multiple accounts across different banks, then you gotta pay for the debit card, credit card n maintenance charges. If that’s not a concern for you, then you ld be able to have number of accounts with a number of banks. 🙂

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Critic
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There is no RBI defined restriction as on date. However, banks by themselves impose restrictions as per their internal policy.
Some banks consider at Customer ID level across all branches, some only at the level of individual branches.
Any case, Single holder a/c, A/c held on behalf of a minor, Joint A/cs with different second holders (like mother, wife, sister & daughter) would all be considered as separate accounts.
As long as you are willing to maintain the MAB and pay for the A/c level charges for Debit card etc, banks actually gain if you maintain multiple accounts.

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161508 wrote:

One joint with a family person and one separate in one bank
Is this allowed?

yes allowed

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Pro Critic
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rogerthat wrote:

one account per bank.

That’s not true. People can have more than 1 bank account in same bank. AFAIK there is no such limit. I personally have 4 savings back account in ICICI bank although I will be closing all of them except 1 next year.

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Deal Subedar
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bikidas2060 wrote:

Brother as per my knowledge, with SBI under one CIF you can have multiple CASA Accounts. 🙂 No problem bro. But the problem is if you have multiple accounts across different banks, then you gotta pay for the debit card, credit card n maintenance charges. If that’s not a concern for you, then you ld be able to have number of accounts with a number of banks. 🙂

But every company is openeing new bank account in a different bank so what to do

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Roushh wrote:

That’s not true. People can have more than 1 bank account in same bank. AFAIK there is no such limit.

afaik govt banks follow this rule.


private have rules of their own.

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Pro Critic
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rogerthat wrote:

afaik govt banks follow this rule.


private have rules of their own.

I thought all bank follow rules imposed by RBI and if private banks like ICICI/HDFC can do this then there is no such rule about having only one account in a bank. So it’s up to a bank if they want to allow multiple bank accounts or not.

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Roushh wrote:

I thought all bank follow rules imposed by RBI and if private banks like ICICI/HDFC can do this then there is no such rule about having only one account in a bank. So it’s up to a bank if they want to allow multiple bank accounts or not.

private banks include govt banks have been penalised rs 100crore or more on non adherence of guidelines on various occasion.


rbi cant see everything.


many things keep on going un reported.

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Deal Cadet
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Roushh wrote:

I thought all bank follow rules imposed by RBI and if private banks like ICICI/HDFC can do this then there is no such rule about having only one account in a bank. So it’s up to a bank if they want to allow multiple bank accounts or not.

Once I had 3 BOI accounts in 3 different branches under single customer id, last year I closed two of them.

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Deal Captain
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rogerthat wrote:

one account per bank.
no limit on total number of account as on date.
but govt is trying to bring this number to 10. as per news Sooner

also bank merger will happen next april.
so you have no escaping .

which bank merger

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Community Angel
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Roushh wrote:

That’s not true. People can have more than 1 bank account in same bank. AFAIK there is no such limit. I personally have 4 savings back account in ICICI bank although I will be closing all of them except 1 next year.

In Same branch?

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Deal Subedar
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monersathi wrote:

Once I had 3 BOI accounts in 3 different branches under single customer id, last year I closed two of them.

I had one account in boi. Then i wanted to close. Just i took all the money out. I assume its closed. It was 5 yrs ago. I dont knoe/have anyfin of it now

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Deal Subedar
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rogerthat wrote:

announced by GOI effective from next april

Link please. I have getting new account in idbi

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Deal Subedar
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Roushh wrote:

That’s not true. People can have more than 1 bank account in same bank. AFAIK there is no such limit. I personally have 4 savings back account in ICICI bank although I will be closing all of them except 1 next year.

  • There is a rule for having only 1 bank account. But this rule is applicable to only BSBDA accounts. 
  • According to ICICI Bank the rule is stated as:
  • "Customer should not have any existing Savings Account with the Bank prior to opening of Basic Savings Bank Deposit Account. If any existing Savings Account is available with the Bank, then the same needs to be closed by the customer by providing a closure request within 30 days of opening of BSBD Account with the Bank. An existing BSBD Customer cannot open another BSBD Account with ICICI Bank. In case of other account being identified with ICICI Bank for the Customer, the same shall be liable for closure without any further"
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Jigglypuff wrote:

serached no metion of idbi . plz help flushed

idbi is private bank

GOI can’t decide it’s merger

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Deal Cadet
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You can open multiple acc’s Even in the same branch (same cust id)

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