Mentioned below are some of the banks which provide zero balance savings accounts:
ICICI Zero Balance Account
Individuals who do not have an account with ICICI can open a zero balance savings account with the bank with minimum documentation. Some features and benefits of this account are:
- Internet banking facility
- Free cheque book
- Free cash deposits
- Charge of Rs.90 for cash withdrawals at other bank ATMs
Read more about ICICI Zero Balance Account
HDFC Zero Balance Account
HDFC Bank offers a basic savings bank account for individuals who do not have an account with the bank already. Mentioned below are some features of this account:
- Free RuPay debit card or international debit card
- Fund transfers through NEFT and RTGS
- IVR based phone banking
- Four free cash withdrawals at other bank ATMs
Read more about HDFC Zero Balance Account
SBI Zero Balance Account
State bank of India offers its customers a zero balance savings account which has no limit on cash deposits. Some significant features of the account are:
- Basic KYC documents required
- Free debit card
- Four free cash withdrawals from other bank ATMs
- Free cash withdrawals from SBI ATMs
Read more about SBI Zero Balance Account
Axis Zero Balance Account
Axis Bank also offers a zero balance savings account which can only be opened by first-time Axis Bank customers. Some features of this scheme are:
- Free RuPay debit card
- Cash deposit limit up to Rs.10,000
- Four free transactions at other bank’s ATMs every month
Read more about Axis Bank Zero Balance Account
IndusInd Zero Balance Account
IndusInd Bank offers a basic small savings account which comes with no minimum balance requirement. Some features of this account are:
- Indian citizens above 18 years of age are eligible
- Free debit card, passbook, and cheque book
- 5 free transactions every month
- Free fund transfers through NEFT and RTGS
Read more about Indusind Zero Balance Account
IDFC Zero Balance Account
IDFC Bank offers a zero balance savings account called Pratham Savings account. Customers can easily apply for this account by uploading their Aadhaar card and PAN card on the bank’s page. Some important features of this account are:
- Internet banking and mobile banking
- Free cheque book and passbook
- Free debit card
RBL Zero Balance Account:
RBL Bank offers a small savings account called Abacus Digital Savings Account. It can be opened online by providing the customer’s Aadhaar card and PAN card on the bank’s online portal. Some features of this account are:
- Customers can invest in fixed deposits
- Maximum of Rs.1 lakh can be deposited in this account
- Customers have to submit signatures after a year to continue using the account
Standard Chartered Zero Balance Account
Standard Chartered provides a zero balance savings account that can be opened by all citizens of India. Some benefits that come with this offer are:
- Free international debit card
- Discounts on locker facility
- Doorstep facilities
Kotak Mahindra Zero Balance Account(Kotak 811)
All Indian citizens above 18 years of age can open a Kotak Mahindra zero balance savings account. The Zero Balance Savings account -811 can be opened online in just 5 minutes. Here are some its notable features:
- Customers can use mStore to shop online
- Fund transfers through NEFT and RTGS
- Free virtual debit cards
- Scan and pay option
Read more about Kotak 811
0 Comments