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Best Digital Banks in India

The complete list of neobanks, mobile-only banks and digital banks in India in 2024.
The list includes Neobanks for businesses, personal users, kids and teenagers.

17 Neobanks in India

LogoNeobankHead OfficeFor whoVisit
Open MoneyBangalore, IndiaBusinessGo to Open Money
NiyoBangalore, IndiaPersonalGo to Niyo
InstantpayMumbai, IndiaBusinessGo to Instantpay
DBS digibankSingaporePersonalGo to DBS digibank
811 by KotakMumbai, IndiaPersonalGo to 811 by Kotak
VanceBangalore, IndiaPersonalGo to Vance
RazorpayBangalore, IndiaBusinessGo to Razorpay
Airtel BankGurugram, IndiaPersonalGo to Airtel Bank
JupiterMumbai, IndiaPersonalGo to Jupiter
Freo MoneyBangalore, IndiaPersonalGo to Freo
VolopaySingaporeBusinessGo to Volopay
Coupl.Bangalore, IndiaCouplesGo to Coupl.
FamAppBangalore, IndiaPersonal and KidsGo to FamApp
GalgalMumbai, IndiaPersonalGo to Galgal
GreyDelaware, USAPersonal and BusinessGo to Grey
Fi MoneyBangalore, IndiaPersonalGo to Fi Money

Which personal neobanks are best for residents of India?

In India, personal neobanks present a modern, cost-effective alternative to traditional banking. Operating exclusively online, these digital platforms deliver a variety of financial services, such as multi-currency accounts, international money transfers, and debit cards. Designed for frequent travelers, digital nomads, or anyone seeking streamlined financial management, neobanks offer a hassle-free and economical option tailored to contemporary lifestyles:
Niyo logo

Founded: 2015

Headquarters: Bangalore, India

Users: +5 million

Countries available: India

Account plans: prepaid debit card

Go to Niyo
Freo Money logo

Founded: 2020

Headquarters: Bangalore, India

Users: +2 million

Countries available: India

Account plans: checking and savings accounts

Go to Freo
Jupiter logo

Founded: 2019

Headquarters: Mumbai, India

Users: unknown

Countries available: India

Account plans: checking and savings

Go to Jupiter

Which business neobanks are best for businesses based in India?

Business neobanks in India cater specifically to the needs of companies, offering customized banking solutions. These digital-only platforms provide a suite of services tailored for businesses, such as multi-currency accounts, international payment options, and tools for managing expenses. Whether you’re running a growing startup or a well-established company, business neobanks can simplify financial management while helping to cut costs:

Open logo

Founded: 2017

Headquarters: Bangalore, India

Users: unknown

Countries available: India

Account plans: 5 plan options

Go to Open
Instantpay logo

Founded: 2015

Headquarters: Mumbai, India

Users: +1 million

Countries available: India

Account plans: current accounts

Go to Instantpay
Razorpay logo

Founded: 2014

Headquarters: Bangalore, India

Users: unknown

Countries available: India

Account plans: current accounts

Go to Razorpay

Which neobanks are best for kids and teenagers based in India?

Designed specifically for the younger generation, these digital banking platforms offer features like parental controls, savings goals, and spending insights, all accessible through user-friendly apps. With tools such as prepaid debit cards, allowances tracking, and educational resources, these neobanks empower kids and teens to develop financial literacy in a safe and guided environment. They are an excellent choice for parents looking to teach their children smart money habits early on:

FamApp logo

Founded: 2019

Headquarters: Bengaluru, India

Users: +1 million

Countries available: India

Account plans: current accounts

Go to FamApp

Why use a neobank?

Affordable fees and attractive pricing

Quick account setup and hassle-free onboarding

Intuitive design for easy navigation

Neobanks offer highly accessible, user-friendly mobile apps designed for a smooth, modern banking experience. Unlike traditional banks, which rely on complex processes and paperwork, neobanks provide a streamlined interface where users can manage finances, track transactions in real-time, and set up alerts with ease. This straightforward, app-based experience appeals to tech-savvy users and businesses alike, offering a practical solution for efficient financial management.

Advanced budgeting and financial tracking tools

Responsive support and community involvement

What Neobank: Your guide to modern banking.