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May 13, 2024 · And you’ll be ready to kickstart your savings in no time. Know about 10 best zero balance savings accounts from top banks in India. Find interest rates, features, benefits, documents required and other details.
Open a Zero Balance Savings Account with HDFC Bank. Experience seamless banking with BSBDA zero balance requirements and competitive interest rates.
Check out some of the best zero balance savings accounts to choose from in 2022. These accounts offer low minimum deposits and no monthly fees.
- An account which does not need a monthly balance to be maintained. In a few rare cases one may need to deposit some money in the beginning to open...
- One can visit the nearest branch of the bank providing a zero balance savings account with the KYC documents to get an account started. Applicants...
- Applicants can open a zero balance account with either of the following documents as identity proof: Passport Driving license PAN card Aadhaar card
- Zero balance accounts can be opened by applying online and getting the KYC formalities done on a video call. This can also be done by visiting webs...
- Customers wanting to convert their savings account to a zero balance account will have to visit their savings account and will have to visit their...
- The Government of India is encouraging all the banks to provide the facility of zero balance savings accounts so that the citizens may take the ben...
- There are many benefits of opening a zero balance savings account which are as follows: There is no need to maintain a monthly balance and even if...
- A savings account that can benefit users must have the following features: It should be a zero balance account. It should be digital and there shou...
- Interest in a savings account is calculated daily but on the closing account and most of these banks give this interest quarterly but there are a f...
- IDFC First Bank Pratham Savings Account: One of the primary reasons why IDFC Bank tops the list is because it comes with the advantage of making limitless withdrawals at any micro ATM.
- ICICI Zero Balance Savings Account: In India, ICICI Bank is a prominent bank primarily due to the technology it has implemented into its banking facilities.
- DBS Digi Savings Bank Account: The Basic Savings Bank Deposit Account offered by DBS is a simple basic account for regular banking transactions. Its attractive features include no minimum balance requirement, make unlimited withdrawals in a month across all channels including ATM withdrawals, avail basic banking services and cheque books, and in a month there's no limit on the number of deposits that can be made.
- SBI Basic Savings Bank Account: SBI offers a broad range of savings bank accounts; its zero-balance savings account is the starting point for the savings banks category.
Savings Account that allows zero balance in the account without any charges is known as zero-balance account. According to the Reserve Bank of India (RBI), this account is also known as Basic Savings Bank Deposit (BSBD) account that encourages people to open more savings accounts.
- Yes, it is possible to open a joint basic savings account. For this, the second-party has to be related to the primary account holder and both have...
- Since the zero-balance savings account is a basic savings account, it has no monthly average balance requirement. An initial deposit in a savings a...
- No, you can access your zero-balance savings account via the internet and phone banking facilities, at an ATM and at the bank if required.
- While the nature of the zero-balance savings account is the same, customers to the Pradhan Mantri Jan-Dhan Yojana (P.M.J.D.Y) are eligible to opt f...
- Yes, NRIs (Indian passport holders) can open zero-balance digital savings accounts after completing the standard process and KYC online. .
- No, you are allowed to hold only one 'Basic Savings Bank Deposit Account' in a bank. .
- No, banks are advised not to apply limits such as age and income criteria to open a zero-balance savings account. .
- Yes, you are allowed to hold other deposit accounts in the bank where you hold a Basic Savings Bank Deposit Account. .
- All banks must provide basic savings accounts to customers, according to the RBI and government regulations.
- You might not be able to convert your savings account to a zero balance savings account because zero-balance accounts are designed for new bank cus...
Jul 3, 2024 · A zero balance account is a type of savings account where you can have a minimum balance of zero and still not have to pay a penalty fee. As per the RBI guidelines, this type of account is also known as Basic Savings Bank Deposit (BSBD) account .
AMAZE, a Zero Balance Savings Account, by Axis Bank is designed specifically for customers who wish to experience stress-free banking with no minimum balance maintenance. It also offers other benefits, such as annual benefits, 250+ banking services, low initial funding, and a quick opening process.
