u/GyaneAryan

Many people have been asking me why I opened so many bank accounts, so I thought, why not explain the individual reason behind each one.

Here are the reasons for all 16 banks:

AU Small Finance Bank

I opened this account because AU is the largest small finance bank in India. I also recently heard that the RBI has given it the green light to become a universal bank. A few kilometres from my home, there used to be a Fincare Small Finance Bank branch, which later became an AU SFB branch. So I thought, why not open an account. I also found it interesting that the bank is called AU, since Au is the chemical symbol for gold. They also have a few unique features, such as video banking and the fact that every branch can be treated as your home branch. However, my actual branch experience wasn't very good. You have to remove your footwear before entering the branch, and there are also quite a few gutka stains near the entrance. Around 95% of the work at the branch seems to be related to microfinance and other types of loans. Also, their app doesn't open when developer options are enabled.

Axis Bank

I liked the fact that it's a two-word bank name, and "Axis" sounded cool to me. The logo also looks cool. Apart from that, Axis is the third-largest private bank in India by branch network and revenue, so that was another factor. One thing I didn't like, though, is that Axis Bank's IFSC codes start with UTIB, because the bank was previously known as UTI Bank. This was a bit of a turn-off for me. One good thing is that the app works fine even when developer options are enabled.

Bank of Baroda

I opened this account when I was 19, mainly because the name sounded royal to me. Apart from that, there isn't really any other reason. Unfortunately, the app doesn't like developer options.

Bank of India

I opened this account because the name reminded me of banks like Bank of America and Bank of China. "Bank of India" sounds like a bank that represents India at a national level. It isn't actually the biggest bank in India, but the name certainly makes it sound like one. That was basically the reason I opened it. As for my experience with the bank, I consider it the worst nationalised bank among the ones I've used. I have a separate post about it on my profile if you want the exact details. The app is fine with developer options enabled.

Canara Bank

This is my first-ever bank account. I also think the Canara Aspire account is a really good offering for people between 18 and 28 years old. The main Canara Bank app doesn't like developer options, but they have a separate passbook app that works even when developer options are enabled.

Central Bank of India

This one is simple: it is the nearest government bank to me, so I mainly use it for cash deposits. It is a much smaller bank than SBI but it has the same number of branches as SBI in my district: 23.

HDFC Bank

HDFC Bank is the largest private bank in India and has around 10,000 branches, so I thought, why not have an account with them too? That's pretty much the reason.

ICICI Bank

There are actually three reasons behind this one. First, ICICI is a palindrome, which I found interesting. Second, it is the nearest private bank to me. And third, my local branch is a rural branch, while ICICI is also the second-largest private bank in India. For more details about my ICICI account, you can check out the post I made a few days ago on my profile.

IDFC FIRST Bank

I wanted to open an account with a bank that was relatively new, but at the same time wasn't a tiny or insignificant bank. That basically left me with two options: Bandhan Bank and IDFC FIRST Bank. And, obviously, IDFC FIRST Bank won.

Indian Bank

Same reason as Bank of India. I basically opened it because I liked the name. Sometimes, that's enough of a reason!

Indian Overseas Bank

I was getting bored and had nothing to do. So I went to Wikipedia and looked up which bank came next after Central Bank of India in terms of size. It was Indian Overseas Bank. I checked out its app, and to me, it looked better than the apps of HDFC Bank and ICICI Bank. So I opened an account. I also thought the bank logo looked pretty cool.

Kotak Mahindra Bank

I noticed that literally everyone on the internet seemed to have a Kotak account, so I thought I should have one too. Apart from that, there isn't really any particular reason.

Punjab National Bank

Frankly, I didn't like the name initially because "Punjab National Bank" made me feel like the bank was mainly focused on Punjab. Then I noticed the word "National" and also remembered that PNB is one of the largest public sector banks in India, with SBI ahead of it. So I thought I should have an account with PNB too.

Slice Small Finance Bank

This is the favourite account in my list. I think Slice has one of the best banking apps in India. It's just a shame that the bank has only around 149 branches. There are also no charges for IMPS, NEFT, RTGS or SMS alerts. It offers a 5.25% interest rate, credited daily, across all balance ranges. Another thing I really like is that it sends an SMS even for a ₹1 credit or debit. I find that useful. The one thing I don't like is that its IFSC codes start with NESF.

State Bank of India

This one is pretty straightforward. SBI is the largest bank in India, both in terms of branch network and revenue, so obviously I wanted to have an account with them too. It also has the largest ATM network in India.

Union Bank of India

The logo looked cool to me.

So, those are the 16 reasons behind my 16 bank accounts. I hope you enjoyed reading about my reasons. The comment section is open if you have any questions.

I am writing this post without using AI, so please read it fully.

I recently went through a somewhat annoying experience trying to open a BSBDA at a new, small & rural ICICI Bank branch near my residence, so I thought I’d share the entire timeline.

The branch is a rural branch that opened in 2026, around 2 km from my residence. It is a very small branch, roughly 16 ft × 12 ft, with only two employees - the Branch Manager (BM) and one other employee. Importantly, this is not an extension branch or banking outlet. It is a full-fledged ICICI Bank branch with its own IFSC.

• 1 APRIL - FIRST VISIT

I visited the branch for the first time on 1 April. Only the junior employee was present because the BM was on leave. I showed him the BSBDA page on ICICI Bank's website and told him that I wanted to open a BSBDA. He was ready to open a regular savings account immediately, with a ₹2,500 MAB, but said that a BSBDA required approval from the BM. He told me that the BM would be available the following week. His tone was polite throughout, so I simply said okay and left.

• 6 APRIL - SECOND VISIT

I visited again on 6 April. Once again, only the same employee was present. The same reason was given: the BM's approval was required for a BSBDA, and the BM was unavailable. He also apologized for the inconvenience. Again, there was no argument from my side. I just left.

• 12 APRIL - THIRD VISIT

Both the BM and the other employee were finally present. I explained to the BM that I wanted to open a BSBDA. They asked me some basic questions and asked to see my original Aadhaar and PAN Card. The BM also tried to convince me to open a regular savings account instead. I told him that I was aware of the RBI rules regarding BSBDA and specifically wanted that account. He then said okay and told me that they would visit my residence the next day for due diligence.

• 13 APRIL - HOME VISIT

Both the BM and the junior employee came to my residence on their Hero HF Deluxe. They again started trying to convince me to open a regular savings account instead of a BSBDA. I ended that conversation within 30 seconds because I had already made it clear what account I wanted. They then asked for a geo-tagged selfie with me. I first took a selfie with both of them using my own phone, and then allowed them to take one using their phone. They said they would call/message me the next day with an update.

• 14 APRIL - BSBDA REJECTED

I received a WhatsApp message from the branch saying that they could not proceed with my BSBDA. No reason was given. I didn't reply to the WhatsApp message. On the same day, I emailed ICICI Bank's customer service and lodged a complaint. The reply I received was rather ridiculous: they said they could not find the account number in my email. I replied pointing out that, obviously, there was no account number because the account had not yet been opened. I escalated the matter to the Head of Service Quality on the same day and also posted about the experience on Twitter/X.

• 15 APRIL - ACCOUNT FINALLY OPENED

I received a call from the branch saying that they wanted to visit my residence again for the BSBDA opening process. Both employees arrived at my residence about 10 minutes later. This time there was no discussion about opening a regular savings account or any other irrelevant issue. They completed the process, opened the BSBDA, apologized for the delay, and left. So after several visits, a home visit, an unexplained refusal, a customer-service complaint, an escalation and a Twitter/X post, the account was ultimately opened the very next day.

• BONUS INFORMATION

You are still reading, so I’d like to share some bonus information. There are two types of BSBDA offered by ICICI Bank. You can check the exact product code of your account through ICICI Bank's Internet Banking.

SBNFR - It allows annual credits of up to 5 lakh rupees.

SBBBA - It allows unlimited annual credits.

Don't confuse them with "BSBDA Small". That is completely different.

Out of the 12 nationalized banks in India, I have accounts with all of them except Punjab & Sind Bank. Apart from these, I also have accounts with HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank, IDFC First Bank, AU SFB, and Slice SFB. So, I think I have enough experience with different banks to make a fair comparison of their services.

• Cannot set UPI PIN using Aadhaar OTP: BOI does not allow you to set your UPI PIN using Aadhaar OTP, a debit card is mandatory. All other nationalized banks offer this feature. Even much smaller co-operative and regional rural banks (Grameen Banks) support Aadhaar-based UPI PIN setup.

• High debit card fees: BOI charges ₹250 + GST, while most other nationalized banks charge ₹200 + GST. PNB charges just ₹150 + GST.

• Laggy and ugly app: The mobile banking app is slow, laggy, and frankly quite ugly. It also lacks basic features such as ordering a debit card or making cardless cash withdrawals. The Play Store ratings of all other nationalized banks' apps are above 4.2, while BOI and UBI are at just 3.5. And honestly, even UBI's app is better. The only good thing I can say about BOI's app is that, unlike many other banking apps, it doesn't force you to disable Developer Options.

• Internet banking is okayish: It works, but the overall experience is nothing special. It's usable, but still feels outdated compared with what other banks offer.

Resort (JioHotstar)

4 GB + 64 GB variant, with factory-fitted battery & display.

Soon, Android 17 will also be available.

How was your experience opening a BSBDA in HDFC Bank?

My SBI savings account is exactly 3 years old, and my SBI debit card is also exactly 3 years old.

After 3 years of usage, a random thought came to me that I've never seen any debit card issuance charges or annual charges. So, I checked all my monthly statements from the last 3 years, and my doubt was correct - there are no debit card issuance or annual charges. The only transactions in my SBI account over these 3 years were either UPI credits or UPI debits.

I'm using this debit card for ATM withdrawals at least once or twice every month and have been doing so for the last 3 years.

BTW, this is a general savings account with a general SBI Global debit card, not a BSBD account / BSBD debit card.

Anybody else with similar experiences?

I'm a little surprised because this debit card is usually issued only for BSBDA / FI accounts, but my account is a regular savings account.

It's a nice surprise because it doesn't have any issuance or annual charges.