Fino Payments Bank — Savings Account

The Fino Savings Account is a digital-first savings account offered by Fino Payments Bank, a payments bank licensed by the Reserve Bank of India that focuses on serving unbanked and semi-urban populations. Fino Payments Bank was originally a technology and payments services provider before receiving its banking licence, and it brings digital-first systems to its account offerings. The account is designed for customers who may not have easy access to traditional branch banking, with onboarding and account management heavily weighted toward the mobile app and correspondent banking points rather than physical branches. Deposits in a Fino Payments Bank savings account are insured by the DICGC up to ₹5 lakh per depositor, providing the same government-backed security as larger banks. Key features include UPI support, fund transfers, bill payments, and basic savings management through the Fino Payments Bank app. The minimum balance requirement is low, typically a few thousand rupees per month, and the bank offers limited transaction allowances for free or low-cost services. For credit card applicants, holding a Fino savings account may support the application process, though Fino’s own credit card portfolio is currently limited compared with larger commercial banks.