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8 Best Zero Balance Savings Account In India

Vipul Das
·4-min read

Zero Balance Savings account is a deposit account that doesn't demand you to keep a minimum balance in the account. A number of Indian banks are ensuring to maintain a minimum of Rs.10,000 per account which creates a problematic situation for those whose earnings are low. But having a Zero Balance Savings Account is the most perfect alternative in such scenarios where you no need to maintain a minimum balance and also you can render free withdrawals from the account. A Zero Balance Savings Account comes with all the standard services as compared to a regular savings account in India. Hence, by covering the below described features and interest rates provided by the top zero balance savings account, you can find a perfect one for yourself in case you are planning to have a one.

1. IDFC First Bank Pratham Savings Account

  • This Zero Balance Savings account comes with the advantage of limitless withdrawals at any micro ATM.

  • You can also sign up for mobile banking and net banking feature for free

  • You can open the account by visiting your nearest bank branch with the required documents

  • Currently, this zero balance savings account is fetching an interest rate of 6.0% to 7.00% (for balance Rs.1 lakh to Rs.10 Crore)

  • You can make hassle-free online bill payments and also generate mini statement

2. YES Bank Smart Salary Advantage

  • Make unlimited withdrawals at any YES Bank ATM and 5 free transactions per month at any other bank's ATM across the country

  • Make unlimited NEFT and RTGS transactions for free using net banking and mobile banking

  • Get complimentary Titanium Debit Card which comes with a range of benefits and privileges

  • Get attractive interest rates on this savings account which is currently ranging from 4% to 6% (for balance Rs.1 lakh to Rs.300 Cr)

3. IndusInd Bank-Indus Online Savings Account

  • This zero balance savings account also comes with unlimited ATM withdrawals and free access to mobile banking and net banking

  • You can open this account instantly by submitting an online application using the details of your Aadhaar and PAN

  • You can choose from multiple options ranging from a Zero Balance Account to premium variant

  • Enjoy seamless banking experience with a range of benefits

  • Make NEFT / RTGS / IMPS transactions through online banking

  • Get fuel surcharge waiver up to Rs.250

  • Interest rate starts from 4.0% to 6.0% for balance Rs.1 lakh to Rs.10 lakh or above

4. DBS-DigiSavings

  • Open zero balance savings account by Aadhaar based authentication

  • Make cashless, contactless, PIN-less payment using VISA Payments

  • Get amazing cashback up to 10% for shopping at online merchants

  • Make fund transfers using UPI, IMPS, NEFT and RTGS on a 24x7 basis

  • Get up to 5% interest on savings account

5. Kotak Mahindra Bank-811 Digital Bank Account

  • This zero balance savings account come with zero charges on non-maintenance of balance

  • You can open this account without leaving your comfort using digital banking

  • Get 811 Virtual Debit Card and use it for online shopping, bill payments, mobile or DTH recharge etc.

  • Get up to 4% interest per annum on 811 Digital Bank Account

6. HDFC Bank - Basic Savings Bank Deposit Account

  • HDFC Basic Savings Bank Deposit Account or BSBDA is a Savings Account that does not require you to maintain a minimum balance on your account.

  • The account holder will get an ATM cum Debit Card, free passbook services, free deposits, withdrawals facility and even more such as cheque book, email statements, Demand Drafts, etc absolutely free.

  • Secure your money with Safe Deposit Locker and Super Saver facilities.

  • Get amazing banking facilities such as NetBanking, PhoneBanking and MobileBanking

  • Get 4 withdrawals free per Month which also includes Cash withdrawals (Branch/ ATMs), NEFT/RTGS, IMPS and more

  • Indian residents, HUFs, and minor above the age of 10 years are eligible to open a BSBDA

  • Currently, the interest rate starts from 3.00% to 3.50%

7. SBI - Basic Savings Bank Deposit Account

  • You can open this account as per your valid KYC documents

  • You can make withdrawals by using the withdrawal form at ATMs or branches

  • Get a standard Rupay ATM-cum-debit card

  • Get 4 free cash withdrawals at bank ATMs and other Bank's ATMs

  • Make NEFT/RTGS payments for free

  • Get an interest rate of 2.75% per annum for balance of Rs.1 lakh or above

8. Standard Chartered Basic Savings Bank Deposit Account

  • Open account using your Aadhaar based authentication

  • Get access to International Platinum debit card free and enjoy 15% off on your dining

  • Get passbook and monthly account statements for free

  • Make NEFT / RTGS transactions for free

  • Get an interest rate of 3.25% up to Rs.50 lakh

Also Read:

Top 10 Banks Offering Higher Interest Rates on Savings Account

Senior Citizens Savings Scheme: 5 Things To Keep In Mind Before Investing