- Major Banks in India provide zero balance savings account facility. Here is a summary of what each account offers:
IDFC First Bank’s Account: The Pratham Savings account of IDFC First Bank gives you high interest rates, unlimited ATM transactions, and free online banking services. Customers have to deposit Rs.100 in the account for activation of the account. If you want to use this account, you can be assured of unlimited ATM withdrawals. You also get the freedom to make quick transactions at any micro ATM. Plus, you get free access to mobile and internet banking.
Kotak Banks 811 Zero Account: This account gives you a digital banking experience with the Kotak 811 app and a physical debit card for a nominal fee. You can open this account online with a video KYC verification.
AU Bank’s Account: This account offers an interest rate of up to 7.25% depending on the balance. It also allows monthly interest payouts and free online banking services. This account can be opened by depositing Rs 1000 in the account.
Yes Bank’s zero balance account: This account offers an interest rate of up to 6.25% depending on the balance. It also enables the account holders to earn up to 16,000 Yes Bank Rewards Points worth Rs. 4,000.
GO account of RBL Bank: This account offers an interest rate of 5.5% if the customer has account balances up to Rs. 10 lakhs and 6% if the customer has balances above Rs. 10 lakhs. It also provides a free platinum debit card with unlimited ATM withdrawals and cashback offers. The account can be opened online with a video KYC verification.
SBI: Basic Savings Bank Depository (BSBDA) With sufficient KYC documents, anyone can open this SBI zero deposit account. The customer will receive a Rupay card.
Axis Bank: BBBSA Instant Savings Account One of the easiest ways to open this zero-interest savings account with Axis Bank is to download the Axis mobile app or apply online. You can also register your PAN, Aadhaar, and other details online if you want. Along with the mobile app, it offers unlimited RTGS and NEFT transactions.
HDFC Bank: Basic Savings Bank Deposit (BSBDA) When you open this zero-interest savings account with HDFC, you are technically joining several benefits. It has a lot to offer, from free check-in service to free check and cash deposit at the office. Not only that, but you can also access the account using a Rupay card, which you get for free. With easy phone and online banking, you can make money transactions, pay bills, and cash checks anytime.
RBL Bank: Digital Savings Account With no maintenance charges, it turns out to be a remarkable zero-balance account. Along with mobile and internet banking transactions, you can also enjoy the fruits of an unlimited number of ATM transactions. As it offers a paperless and fast account opening process, only PAN and Aadhaar number are required to open an account.
