What is the ideal number of bank accounts one should have in India ?

[AsB]

I have 4 accounts
SBI - for any kind of Govt. and investment related activities (like Standing Instructions) as Govt. banks have the cheapest start and cancel charges
ICICI - Salary account
HDFC - Primary account
BoB - Secondary account

I was planning to open one more digital account on a differet number, (but same PAN Card), so that in case my Primary Mobile number linked to the banks do not work or gets stolen or hacked or soemthing, I will have a back up account.

But, I am also scared that it may be a lot of accounts (5 in total).

Need some suggestions.

 

[abhiver]

As much as you can and then you can hire an accountant to look after them and provide you consolidated bank statements or cash flow

 

[AsB]

As much as you can and then you can hire an accountant to look after them and provide you consolidated bank statements or cash flow

I am not a businessman to hire an accountant. Just a salaried person.

 

[6ix9ine]

Man, people have dozens of accounts, and you are panicking over just 4?

As long as you are able to manage them, everything is fine.

Ideally, one should have minimum 3.
- salary account
- investment related
- upi transactions

 

[abhiver]

I am not a businessman to hire an accountant. Just a salaried person.

Salaried can also hire , it is not expensive these days. And you don't need them always just task based.

Anyway, as salaried, I think maximum 4 or 5 is enough beyond that it will be hard to manage.

 

[hender]

I have 4 accounts
SBI - for any kind of Govt. and investment related activities (like Standing Instructions) as Govt. banks have the cheapest start and cancel charges
ICICI - Salary account
HDFC - Primary account
BoB - Secondary account

I was planning to open one more digital account on a differet number, (but same PAN Card), so that in case my Primary Mobile number linked to the banks do not work or gets stolen or hacked or soemthing, I will have a back up account.

But, I am also scared that it may be a lot of accounts (5 in total).

Need some suggestions.

BOB - Change the Number to secondary

 

[hender]

I have 4 accounts
SBI - for any kind of Govt. and investment related activities (like Standing Instructions) as Govt. banks have the cheapest start and cancel charges
ICICI - Salary account
HDFC - Primary account
BoB - Secondary account

I was planning to open one more digital account on a differet number, (but same PAN Card), so that in case my Primary Mobile number linked to the banks do not work or gets stolen or hacked or soemthing, I will have a back up account.

But, I am also scared that it may be a lot of accounts (5 in total).

Need some suggestions.

You already have selected 4, which are BEST - 2 PSU 2 PvT.
For your reference -

H

Post in thread 'How many bank accounts do you have and for what purposes?'

Feb 18, 2025

Bank of India : My dad opened minor account and introduced me with the banking. Main account. (20 years old)
1k MAB.
Usecase- Dividend, FD, UPI, Tax, RTGS,

Ujjivan SFB- Now Primary/Secondary/Backup (Newest- Since 2018).
Initially 0mab now 1k MAB.
Usecase- FD, UPI, Tax, RTGS

Both Public Sector and Pvt Sector have good Technology setup and fulfilling needs for transferring funds/FD etc.

Resting in Peace- Accounts
1-UTI bank(Axis now) Salary
2-HDFC Salary
3-Citibank- Salary
4-ICICI - Sal

• hender

 

[Exewhyzee]

Ideal number is 23 accounts.

 

[praful47]

Kitna bhi accounts rakhlo lekin usme paisa hisab se rakhna .

 

[KGSIPO]

Ideally as many accounts as possible which gives benefits or rewards