India has recently been recognized as a top choice for many international students. From over 170 countries, international students continue to move to India for the diverse culture, beautiful scenery and affordable tuition fees.

With the numbers increasing yearly, it is essential for information on how to navigate living in India to be produced. Helping individuals who have considered or are planning towards furthering their education in India.

As an international student, it is important to identify an institution that provides safekeeping for your money and offers you the best financial services possible.

In this post, we will be looking at some of the well-recognised and best banks for international students in India.

OhentPay is a mobile app that lets you send and receive money internationally swiftly and at the best rates.  With Ohentpay, you can send and receive money to over 190 countries, and exchange over 40 currencies. So you can send or receive support from loved ones back home without delay. 

The 5 Best Banks in India for International Students

State Bank of India (SBI).

The State Bank of India (SBI) provides banking services like savings accounts, fixed deposits, personal loans, education loans and SME loans. It is a public sector bank and the largest bank in India.

In September 2023, the State Bank of India joined hands with IDP Education, an international education service, to assist students seeking education loans for their overseas studies. This bank, which is also the largest lender in India, has also partnered with Flywire Corporation to ease Indian student's international education payments. 

To open a personal student account with SBI, start here.

ICICI Bank.

The bank was founded as the Industrial Credit and Investment Corporation of India Bank before it changed its name to ICICI Bank.

ICICI Bank launched a digital platform to address the needs of the students aspiring to pursue higher education in India and abroad. Known as ‘Campus Power’, it offers both banking and value-added solutions in one place.

The initiative assists users in exploring financial products matching their needs ranging from bank accounts including overseas accounts, education loans and their tax benefits, foreign exchange solutions, payment solutions, cards, and other loans and investments.

To open a personal student account with ICICI Bank, start here.

HDFC Bank.

Also known as the Housing Development Fund Corporation Bank (HDFC Bank) is one of the biggest private sector banks in India, HDFC Bank has a wide branch network and ATMs both domestically and abroad. The bank provides a selection of foreign exchange services, such as international wire transfers and foreign exchange accounts, even for international students.

To open a personal savings account with HDFC Bank, start here.

Axis Bank.

Axis Bank’s student loan program aims to help students afford the cost of their education abroad toward a degree. Graduate and postgraduate students who will study in a professional degree program can use this student loan.

A student loan from Axis Bank may be a viable financial alternative for those planning to study abroad. Axis Bank is one of the few private banks that provide in-house financing for students in or outside India. This loan provision makes it a top choice for many international students in India.

To open a bank account with Axis Bank, start here.

HSBC Bank.

HSBC Bank India back collaborates with the Global Student Loan Corporation to offer international student loans, specifically tailored for pursuing higher education in the United States.

Through the HSBC India Student Education Loan Program, students gain access to financial support to cover essential educational expenses like tuition fees, accommodation, textbooks, and other materials required for their studies.

If you're an international student in India, you should also consider HSBC Bank because they offer different account types that will help you manage your money and receive cash back when necessary.

To open a personal savings bank account with HSBC Bank, start here.

OhentPay- A Better Option for International Students in India

If you’re an international student in India who will need to make a lot of transactions by sending or receiving money from home, you need a better alternative. 

With OhentPay, you can send, receive and exchange over 40 currencies across 190 countries. It’s also 100% cheaper than using a bank and faster as you get your payments instantly - regardless of where they are coming from. 

Most importantly, you do not need an Indian residency to open an account. You only need a valid ID card to proceed. Learn more about how OhentPay works here.

Wrapping Up 

If you're an international student looking for the best bank account in different countries, you should go through our blog for more.

If you’d like to send money anywhere in the world from India and you prefer fast transfers at great rates, we recommend the OhentPay money transfer service. Create an account to get started here.

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