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Did you know that Indians hold just over Rs 30,000 in their savings account on average? And what about current account? The answer is Rs 130,000. What about average account balance in your own state? We found the answer using data from the Reserve Bank of India
Current Account:
The nationwide average of current account holding in India stands at over Rs 130,000. Smaller states and union territories have a higher average figure. For example, Arunachal Pradesh has an average current account balance of nearly Rs 600,000. Lakshadweep follows closely with an average of over Rs 470,000 lakhs. On the other end of the spectrum, the states with the lowest average current account deposits are Bihar, Punjab, and Himachal Pradesh where average holdings are under Rs 40,000.
Savings Account:
The average savings account balance in India is just over Rs 30,000. Smaller places such as the union territory of Lakshadweep stands out with the highest average savings of approximately Rs 120,000, closely followed by the state of Mizoram which has an average savings account balance of Rs 92,000. Andhra Pradesh, Madhya Pradesh and Bihar have average savings account balances of less than Rs 25,000.
Term Deposit:
The average fixed deposit in India stands at Rs 426,000. Delhi takes the lead with the highest average term deposits, reaching around Rs 800,000, followed closely by Maharashtra which has an average term deposit value of Rs 732,000. Bihar, Assam, and the Andaman and Nicobar Islands had an average term deposit holding of under Rs 250,000.
