Five digital savings accounts in India offer different returns and fee terms despite zero-balance labels, with disclosures from Airtel Payments Bank disagreeing and Kotak 811’s current sweep yield not specified.
On a constant ₹1.5 lakh balance, simple annualized estimates are ₹3,750 for IDFC FIRST Bank’s Quantum+ account, ₹8,250 for slice, ₹4,750 for Airtel Payments Bank and ₹2,500 for Jio Payments Bank. The calculations use the cited rates as though they remained unchanged for a year; they exclude compounding, fees and taxes, and actual earnings may vary.
The slice estimate uses its advertised rate of 100% of the Reserve Bank of India’s (RBI) repo rate. The RBI’s published rate was 5.50% at 3:30 a.m. ET (07:30 UTC) on Oct. 19, 2026. NDTV Profit’s Oct. 24 comparison used 5.25% for slice.
IDFC FIRST Bank’s Quantum+ schedule, effective Oct. 4, 2026, sets rates at 2.50% on balances up to ₹3 lakh, 7.00% on the portion above ₹3 lakh through ₹25 lakh, and 6.00% above ₹25 lakh. The bank assesses interest by balance tier and posts it monthly, so the ₹1.5 lakh example falls entirely in the 2.50% tier.
Kotak’s 811 product page lists a 2.75% savings rate and up to 6% through ActivMoney, which moves surplus funds into term deposits. A separate schedule effective Sept. 23, 2026, lists 5.00% for a 180-day deposit; the current yield on an 811 sweep is not specified in the public disclosures.
Airtel’s rate schedule, effective Sept. 1, 2025, lists 1.5% up to ₹1 lakh and 6.5% on the portion above that. Its FAQ instead lists 2% up to ₹1 lakh and 7% above ₹1 lakh through ₹2 lakh. The schedule also lists a quarterly maintenance charge of ₹99 plus 18% goods and services tax (GST) from May 2026, reduced to ₹49 plus GST for accounts that received a Direct Benefit Transfer (DBT) credit in the previous six months.
Jio’s rate card, effective Jan. 16, 2026, lists 0.50% up to ₹1 lakh and 4.00% above that. It says funds exceeding ₹1.95 lakh move to a partner-bank account after the daily close. Airtel’s FAQ says customers who consent may have balances above ₹2 lakh swept to Suryoday Small Finance Bank; without consent, they cannot hold or transact above ₹1.95 lakh.
The RBI says payments banks cannot provide loans or advances or issue credit cards, setting them apart from banks with broader services. Airtel’s listed maintenance charge also shows that a no-minimum-balance account can still carry a fee.
