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HDFC Bank Zero Balance Savings Account, Features, Interest Rates

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The HDFC Bank Offers Basic Savings Bank Deposit Account (BSBDA) Small Account and Basic Savings Bank Deposit Account (BSBDA) which is primarily a Zero Balance Savings Account.Now anyone can get the privilege to become a part of one of India’s largest private banks to start using easy banking solutions without any minimum balance requirement and paying any fees.

Features of Basic Savings Bank Deposit (BSBDA) Small Account.

  1. Free RuPay Debit Card to access all your banking needs.
  2. All individual account holders get a free passbook.
  3. The BSBDA Small Account Holder can withdraw and deposits from one’s respective branches and ATMs with the limited transaction.
  4. Per Month 4 Withdrawals is free for Inter Bank fund transfer through RTGS/NEFT/IMPS (Branch/ ATMs), Internet Debits, Standing Instructions, EMI, POS Transactions, etc. After withdrawals limit there is some applicable as per Bank
  5. No Charge applied for e-mail statements, BillPay.
  6. The interest rate of 3.5 Percent On account balance below Rs. 50 lakh, and 4 percent for Rs 50 lakh and above.
Zero Balance Savings Account with HDFC Bank
Zero Balance Savings Account with HDFC Bank

The Eligibility Criteria and Limitation in Open Basic Savings Bank Deposit (BSBDA) Small Account.

  1. Any Individual Having Indian Citizenship that has been Completed one’s 18 years of age can apply.
  2. Existing HDFC account holders can not apply.
  3. Proof of age, identity, and address- Any documents required like PAN, Voter ID, Passport, and Driving license, etc.
  4. At least 2 passport-sized photographs.
  5. Your account transaction should not exceed more than Rs. 50,000 at any point of time.
  6. The total credits amount in the financial year can’t exceed Rs. 1,00,000.
  7. The Monthly Transaction should not exceed Rs 10,000 in a month.
  8. KYC of BSBDA Small account should be submitted within 1 year.

Required fees and charges in BSBDA Small Account

  1. Minimum Average Balance (MAB) Requirements Zero.
  2. Free Cheque book Free, PhoneBanking – IVR / Non-IVR, and ATM / Rupay Debit card.
  3. MobileBanking/NetBanking/NEFT Inward Charges –Free

For detailed information, you can check the bank’s official website.

 Features of Basic Savings Bank Deposit Account.

  1. Deposit Locker Facilities with Full High Securities.
  2. Free Passbook for Account Holder.
  3. Free RuPay Debit Card.
  4. Enjoy Digital with NetBanking/MobileBanking
  5. Transaction Limit is 4 times per month including Cash withdrawals (Branch/ ATMs), NEFT/RTGS (Branch/ Online), etc.

Difference Between Basic Savings Bank Deposit (BSBDA) Small Account and Basic Savings Bank Deposit (BSBDA)

  1. Basic Savings Bank Deposit Account (BSBDA) holders can avail of Safe Deposit Locker and Super Saver facilities.
  2. Basic Saving Bank Deposit Account Resident Individuals can choose to open (sole or joint account) account.
  3. Basic Saving Bank Deposit Account has given a self-operated minor account with ATM/Debit card for interested applicant those completed 10 years of age.
  4. As of now Basic Saving Bank Deposit Account online apply link is not available.

For detailed Knowledge, you can visit HDFC Official websites

Zero Balance Savings Account with HDFC Bank
Zero Balance Savings Account with HDFC Bank

The process to open Zero Balance Savings Account with HDFC Bank

The Eligible applicant need to have Pan Card, Aadhaar Card, and Aadhaar registered mobile number for OTP verification after that they can apply online and offline mode and after the completed process, Applicant sends or summit document to the respective branch.

HDFC Bank applicants can enjoy Hassel-Free Video KYC Process. According to the RBI guidelines, Banks Video KYC is considered as full KYC

Points to remember while Opening Zero Balance Savings Account with HDFC Banks

After Successfully Creating an online bank account for BSBDA Small Accounts have to submit evidence of having applied before a year to the bank.

Account Holder needs to complete Full KYC Process through Visiting One’s Nearest Branch or Video KYC within two years.

Zero Balance Savings Account with HDFC Bank
Zero Balance Savings Account with HDFC Bank
 FAQ

What is Eligibility to apply Basic Savings Bank Deposit Account (BSBDA) Small Account?

Any Individual Indian Resident completed 18 years of age and having no savings in HDFC Banks.

  1. I am looking for a zero balance savings account?

You can choose to open the Basic Savings Bank Deposit Account (BSBDA) Small Account or Basic Savings Bank Deposit Account (BSBDA)

  1. Are there any banking transitional charges once the Account Open?

No, it’s a no-frills zero balance account.

  1. Can I apply online for Basic Savings Deposit Account (BSBDA) Small Account?

Yes definitely

  1. Can I apply online for Basic Savings Deposit Account (BSBDA)?

No Currently, Link is not available you can contact the Bank official

  1. I have already had a regular Savings account in HDFC can I apply?

Yes. You have to give the undertaking to convert regular Savings to convert BSBDA with conditions. It’s a facility for someone who faces challenges to meet the minimum average balance in one’s account.

About HDFC Bank

HDFC Bank has been Operating as a Scheduled Commercial Bank since January 1995 once HDFC got ‘in Principle’ Approval from the Reserve Bank of India (RBI) in the Private Sector. As of now, One of India’s premier banks Offers a wide range of banking and financial services through 5,326 branches and 14,996 ATMs in 2,825 cities/towns across Pan India.

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