Traditional banks and neo banks both provide savings accounts as a straightforward but incredibly efficient financial solution to help you earn interest on your money. Savings accounts vary in a number of ways depending on its purpose, eligibility requirements, charges, and fees. A zero balance savings account is a relatively common form of savings account where there is no minimum balance requirement. This choice is favoured by many clients looking for savings accounts.
1.IDFC First Bank Pratham Savings Account.
One of the main reasons IDFC First Bank ranks first on the list is that its Pratham Savings Account offers the benefit of unlimited withdrawals from any mini ATM. This zero balance savings account is part of a special programme called the IDFC First Bank Pratham Savings Account, which enables you to join up for mobile and internet banking capabilities without paying any additional fees. Users can currently get enticing interest rates on their balance of up to 6% p.a. Users will also receive free debit cards, chequebooks, the ability to pay bills online without trouble, and the ability to create mini statements in addition to the capabilities described above. Additionally, users can use this free fee to fully use digital banking and take advantage of other regular services.
2.ICICI Zero Balance Savings Account.
The technology that ICICI Bank has integrated into its banking facilities is a major factor in why ICICI Bank is a well-known bank in India. It claims to use 256-bit encryption and offers strong security measures, numerous savings accounts, free cash deposits, chequebooks, and many other features. It also purports to use 256-bit encryption. The benefits of having no minimum balance requirement are available with ICICI Bank’s Basic Savings Bank Deposit Account (BSBDA), one of its several savings accounts. The goal of this account is to help you save money consistently. Their zero balance savings account gives interest at competitive rates, starting at 3% annually. Other advantages and features include having access to more than 15000 ATMs around India, not needing a minimum Monthly Average Balance (MAB), and more.
3.DBS Digi Savings Bank Account.
The Basic Savings Bank Deposit Account provided by DBS is a straightforward basic account for typical banking transactions. Its appealing features include no minimum balance requirement, unrestricted withdrawals per month through all available channels, including ATM withdrawals, access to basic banking services and chequebooks, and no monthly deposit cap.
4.SBI Basic Savings Bank Account.
SBI’s zero-balance savings account serves as the foundation for the savings banks category. SBI offers a wide variety of savings bank accounts. If a person has acceptable KYC documentation, they can open this account, which is accessible at all State Bank of India branches. Interest rates for the zero balance savings account start at 2.70% p.a. and are very competitive. Other advantages include no minimum balance requirement, no upper limit on the account’s maximum balance, the ability to get a basic Rupay ATM/debit card, the ability to withdraw money from any SBI branch or ATM, and access to mobile/net banking features like UPI, RTGS, and NEFT. It has been stated that there is now.
5.RBL Zero Savings Bank Account.
The option to invest in fixed-income securities (FDs) is one of the standout characteristics of the RBL zero balance savings account, sometimes referred to as the basic savings account. The maximum deposit one can reportedly make is Rs. 1 lakh. The RBL Bank offers competitive interest rates on a variety of deposit and savings plans; interest on savings accounts can reach 6.00% p.a.
6.Kotak 811 Zero Balance Account (Kotak Mahindra Bank-811 Digital Bank Account).
(Kotak Mahindra Bank-811 Digital Bank Account) Kotak 811 Zero Balance Account: The Kotak 811 savings account has no charges or maintenance fees and has a zero balance. Users receive a virtual debit card immediately after opening an account, which may be used for online purchases and other online activities. Users will also receive a free credit card for life in addition to the virtual debit card, with the option to receive interest rates of up to 4% per year. Users of this digital savings account can carry out standard banking tasks like free online money transfers, bill payment, investing, and more.
7.Zero Balance Savings Accounts at YES Bank.
YES Bank offers a variety of savings account types, and the zero balance savings accounts are listed below: Platinum, Exclusive, and Advantage Smart Salary plans are available. All of YES Bank’s savings accounts provide the account holders with comparable facilities and services, to put it generally. Users have access to both net and mobile banking, can view account summaries, statements, and fund transfers, as well as free RTGS/NEFT payment and IMPSfacility, 24 hour Personal Banking Assistant, e-Statements, phone and DTH recharge, free issuance of demand draughts, the ability to sign up for SMS alerts, and the ability to pay bills, loan EMIs, and insurance premiums all in one convenient location.
8.HDFC Bank’s Basic Savings Bank Deposit Account.
The Basic Savings Bank Deposit Account from HDFC Bank has established itself as one of the top banks for many Indians to open an account with. The Basic Savings Bank Deposit Account, or BSBDA, from the HDFC Bank is a zero-balance savings account that can accommodate all of a person’s banking requirements. This savings account has no minimum balance requirement, therefore the account user is not required to keep money in the account at all times. The BSBDA account enables the account holder to access banking services at many branches and ATMs across India by giving them access to the best banking services. Through internet and mobile banking services, the customer is even able to monitor account information and conduct digital transactions to maintain composure.
9.Zero Balance Savings Accounts from Indusland Bank.
IndusInd Bank offers a variety of savings accounts with the benefits of quick mobile banking, doorstep banking, a unique account number, and more. The bank is particularly well-known for its zero balance savings accounts, which go by the names Indus Small Savings Account, Indus Delite: Zero Balance Saving Account, and Indus Easy: BSBD Accounts.
10.Basic Savings Account at Axis Bank.
Axis Bank provides a range of savings accounts, including zero balance accounts. The Pradhan Mantri Jan-Dhan Yojana scheme includes the Basic Savings Account, a zero balance savings account that offers best-in-class banking services without requiring you to keep a minimum balance. Free cash deposits, access to numerous branches and ATMs across India, as well as internet and mobile banking services, are all advantages of this zero balance savings account. You can receive electronic statements, SMS alerts, a passbook, a free RuPay debit card, and up to 3.0% to 4.0% interest on daily balances on a quarterly basis with the Basic Savings Account.