Top 10 Bank Account Opening With Zero Balance In India: In today’s time, if you keep money with banks, that means your money is safe, but earlier it was not an easy task to open an account because of lots of requirements, but with the emergence of the concept of top 10 zero balance account in India, it becomes simple and easy. Now lower-level income groups, economically weaker sections, old age groups, students, and other segments can open a bank account and keep their money for future use. So, through this article, we will discuss the top 10 zero balance account in India. Have a glance!
Top 10 Bank Account Opening With Zero Balance In India
State Bank of India
SBI is the topmost bank that offers zero balance account opening services to its customers. They provide several benefits; for instance- an individual can operate their account without keeping money. For this, they don’t need to pay any penalty, individual get ATM-cum-debit card, and on deposited amount, individual get a good rate of interest. SBI zero balance saving account is primarily based on economically weaker sections, not enough to open their account. Now they can also open their account through this service free of cost.
RBL is popular for providing the service of zero balance saving account to customers. Here an individual will get a free Rupay card, and they can access their account from any branch of RBL across India. At RBL zero balance saving account, individuals will get interested ranging between 4.75% to 6.75% on deposited money, and the bank fixes no maximum limit for depositing money. Apart from this, the bank provides some more benefits to its customers, and they are as follows: Unlimited free transaction through ATM, free NEFT through internet banking, higher FD rates, higher interest rates, and free replacement of the damaged card.
HDFC is one of the most renowned banks that is famous for its services. HDFC is a private bank in India, and with the help of HDFC, individuals become able to open their accounts at zero amount, and they don’t need to deposit a minimum balance. Zero balance saving account offer ample facilities such as a checkbook facility. The customer will get a free passbook, free Rupay debit card, free email statements, free replacement of card, and many more. The main purpose of a zero-balance account is to help and encourage poor people to open their accounts and save their money for future use.
IndusInd Bank is another bank that comes under the category of top 10 zero balance account in India. Once an individual opens a zero balance saving account with IndusInd, they will get a debit card that benefits several categories such as shopping and entertainment. The bank providing a hassle-free account opening service. Individual just need to submit a copy of PAN Card, Aadhaar card, and one passport size photograph for opening an account. The bank offers several benefits on zero balance account such as a 6% interest rate, complementary time prime membership with benefits worth 30,000 rupees, and shopping discounts like 5% cashback on Amazon, 20% off on Swiggy, and 10% off on Big Basket.
Bank of Baroda
Recently, the bank of Baroda merged with Dena and Vijay Bank, and now it became one of the strongest banks in India’s public sector. Bank of Baroda also offers zero-balance saving accounts with amazing features, including mobile banking, Internet banking, and SMS alerts. The interest rate is 2.75% P.A, and there is no limit to deposit the money; individuals will get a Rupay debit card with a withdrawal limit of INR fifty thousand per day and a free checkbook. While considering low-income earners group, workers, students, and microfinance beneficiaries for these categories, Bank of Baroda came up with zero balance saving accounts.
At Kotak Mahindra, we can open our zero-balance saving account digitally, which means you don’t need to step out from your home; you just need to install the app “Kotak 811” and fill in the information for opening an account. Once the account opens, a virtual debit card issues, and through this account, an individual can pay bills, transfer amounts, and make online payments (for groceries, shopping, and many more) quickly. Apart from this, they are offering free NEFT, and interest rates lie between 3.50% to 4.00% per annum. There is no maximum limit of money for depositing the amount, and if your balance is zero, then there is no penalty rule over here.
Another bank that allows opening an account on zero balance is DBS bank. DBS is a private bank that lets people open zero balance account with simple steps. Through the online portal account will be open. There is a need to upload a copy of the Aadhar card and KYC document. Through this account, an individual becomes eligible to get a cashback of 10% on shopping. The interest rate is 3.50 to 5.00 % per annum with a 24×7 fund transfer facility via NEFT, UPI, and IMPS. This bank also provides free passbook and debit cards, and there is no restriction on the number of deposits and withdrawal of amount, which can be done at any time.
YES, the bank caters to the needs of all individuals, and for this, they come up with the service of zero balance saving account. If an individual has an account, they will enjoy the facility of the free transaction, free fund transfer, free debit card, and they will get interested in 4.00 to 6.00 % per annum on deposited money. There is no maximum & minimum balance limit, and there is no fine if the account balance is nil or zero.
Punjab National Bank
PNB zero balance saving account comes under the Pradhan Mantri Jan Dhan Yojna program. They provide these services to the economically weaker section of society with lots of benefits such as good interest rates, free ATM cum debit card, free checkbook, nomination facility, mobile & internet banking facility, and SMS alerts. An individual can avail of all the facilities by opening an account at Punjab National Bank. There are various types of zero balance account in which PNB operates, for instance- PNB Pension Savings (only for pensioners), there is an account for students with the name of PNB Vidyarthi account, and there is an account for minors as well with the name of PNB junior account.
Standard chartered bank
Last but not least, this comes under the category of the top 10 zero balance account of India. You don’t need to maintain any minimum level of the amount at a standard charted account, and it gives the interest rate between 0.50 to 3.50 per annum. Several features make this account different from others, like online banking, digital payment, free ATM card, free platinum debit card, etc.
Takeaway (Top 10 Bank Account Opening With Zero Balance In India)
Above the list of top 10 zero balance saving accounts with bank details have been provided. Now we can say that you have enough information regarding several banks, which will help you decide from a zero balance account.