A zero balance savings account is a deposit account that does not require you to maintain a minimum balance in the account. Many Indian banks ask to maintain a minimum of Rs 10,000 per account. But whose earnings are lower, they face difficulties. But having a zero balance savings account is the best option in scenarios where you don’t need to maintain a minimum balance and can also make free withdrawals from the account.
5 Best Zero Balance Bank Account Comparison
Customers in India who want to open a savings account and do not want to go through the hassle of maintaining a minimum account balance can opt for a zero balance savings account. As the name suggests, those who open or maintain a zero balance savings account do not need to maintain a minimum balance.
Customers who want to open a zero-balance savings account can contact any of the banks listed below, which offer the most suitable and profitable zero-balance account in the country. Some best zero-balance savings account for Indian citizens are mentioned below:
ICICI Zero Balance Account
Individuals who do not have an account with ICICI can open a zero balance savings account with the bank with minimum documentation. Some features and benefits of this account are:
- Internet banking facility
- Free cheque book
- Free cash deposit
- Charge of Rs. 90 for cash withdrawal at other bank ATMs
Read more about ICICI Zero Balance Account www.icicibank.com
HDFC Zero Balance Account
HDFC Bank offers a basic savings bank account for people who do not yet have a bank zero balance account. Here are some features of this account:
- RuPay Debit Card or International Debit Card
- Funds transfer through NEFT and RTGS.
- IVR based phone banking
- Four free cash withdrawals at other bank ATMs
Read more about HDFC Zero Balance Account www.hdfcbank.com
SBI Zero Balance Account
State Bank of India offers its clients a zero balance savings account that has no limit on cash deposits. Some important features of the account are:
- Basic KYC documents required
- Free debit card
- Easy and free cash withdrawals from SBI ATM
- Four free cash withdrawals from other bank ATMs
Read more about SBI Zero Balance Account http://www.sbi.co.in
Also read: Interest Rates Of Post Office Small Savings Schemes: PPF, Sukanya Samridhi, SCSS, NSC
Axis Zero Balance Account
Axis Bank also offers a zero balance savings account that can only be opened by Axis Bank customers. Some of the features of this scheme are:
- Free RuPay Debit Card
- Cash deposit limit up to Rs 10,000
- Four free transactions at other bank ATMs every month
Read more about Axis Bank Zero Balance Account www.axisbank.com
IndusInd zero balance account
IndusInd Bank offers a small basic savings account that has no minimum balance. Some features of this account are:
- Indian citizens over 18 years of age are eligible
- Free debit card
- Passbook and cheque book
- 5 free transactions every month
- Free Fund Transfer IndusInd through NEFT and RTGS
Read more about IndusInd Bank Zero Balance Account www.indusind.com
There are also some best zero balance account in India 2021 such as IDFC bank zero balance account, standard chartered zero balance account and DBS bank zero balance account which has no requirements for minimum balance in all banks list. Still these are the best bank for savings account in India, not only in 2021 but also they were the best zero balance account in India 2020!
Also read: IDFC Bank Zero Balance Savings Account, Features, Interest Rates
A zero balance savings account comes with all the standard services compared to a regular savings account in India. So, we’ve covered almost all key features and interest rates in the 5 Best Zero Balance Bank Account Comparison, if you plan to have one, you can find the perfect one for you.
