Jammu and Kashmir Bank Zero Balance Savings Account

Last Updated : March 28, 2025, 2:27 p.m.

In today's financial landscape, zero balance savings accounts have become increasingly popular, especially among students, low-income individuals, and those new to banking. Jammu and Kashmir Bank offers several zero balance account options designed to promote financial inclusion while providing essential banking services without the burden of maintaining a minimum balance.

Read on to find out more about the zero balance savings account offered by Jammu Kashmir Bank.

Types of Jammu and Kashmir Bank's Zero Balance Savings Accounts

Jammu and Kashmir Bank offers the following types of zero balance savings accounts:

1. Basic Savings Bank Deposit Account (BSBDA) - A no-frills account designed for financial inclusion
2. J&K Bank Student Savings Account - Specifically designed for students
3. J&K Bank PMJDY Account - Part of the Pradhan Mantri Jan Dhan Yojana scheme
4. J&K Bank Small Account - A simplified KYC account with certain transaction limitations

Details of Each Type of Zero Balance Savings Account

Basic Savings Bank Deposit Account (BSBDA)

The BSBDA is one of the best zero balance savings account offered by Jammu and Kashmir Bank to promote financial inclusion:

• Zero minimum balance requirement
• Comes with a RuPay debit card
• Four free withdrawals per month (including ATM and branch withdrawals)
• Free account statements
• Available to any Indian resident without an existing BSBDA in any bank

J&K Bank Student Savings Account

Designed specifically for students aged 10 years and above:

• Zero minimum balance requirement
• ATM/Debit card facility
• Internet and mobile banking services
• Personalized cheque book facility (upon request)
• Age limit: 10 to 25 years with valid student ID

J&K Bank PMJDY Account

Offered under the government's financial inclusion program:

• Zero minimum balance requirement
• RuPay debit card with Rs. 1 lakh accident insurance cover
• Rs. 30,000 life insurance coverage
• Overdraft facility up to Rs. 10,000 (subject to conditions)
• Direct Benefit Transfer (DBT) facility for government schemes

J&K Bank Small Account

A simplified account with relaxed KYC norms:

• Zero minimum balance requirement
• Valid for 12 months initially (can be extended by providing full KYC)
• Maximum balance limit of Rs. 50,000
• Total credits not to exceed Rs. 1 lakh in a year
• Total withdrawal and transfers not to exceed Rs. 10,000 in a month
• Foreign remittances not allowed.

How to Open a Zero Balance Savings Account Online?

Jammu and Kashmir Bank offers a convenient online process to open a zero balance savings account:

1. Visit the official Jammu and Kashmir Bank website (www.jkbank.com)
2. Click on the "Open Account Online" option
3. Select the type of zero balance account you wish to open
4. Fill in the application form with personal details, contact information, and other required information
5. Upload scanned copies of your identity and address proof documents
6. Submit the application
7. The bank will verify your information and documents
8. Upon successful verification, you will receive your account details via SMS/email
9. The welcome kit with your debit card, passbook, and other materials will be delivered to your registered address.

How to Open a Zero Balance Savings Account Offline?

For those who prefer the traditional method, Jammu and Kashmir Bank offers an offline process:

1. Visit your nearest Jammu and Kashmir Bank branch
2. Request the application form for the specific zero balance account you wish to open
3. Fill in the application form with accurate details
4. Attach copies of required identity and address proof documents
5. Submit the application to the bank official
6. The bank official will verify your documents and process your application
7. Upon successful verification, you will receive your account number immediately
8. Collect your welcome kit containing your passbook, cheque book (if applicable), and other documents
9. Your debit card will typically be delivered to your registered address within 7-10 working days.

Documents Required for Account Opening Zero Balance Account in J&K Bank

For Regular Zero Balance Accounts (BSBDA and Student Account)

Identity Proof (Any one of the following):

• Aadhaar Card
• PAN Card
• Passport
• Voter ID Card
• Driving License
• NREGA Job Card
• Government-issued ID card with photo

Address Proof (Any one of the following):

• Aadhaar Card
• Passport
• Voter ID Card
• Driving License
• Utility bills (electricity, water, or telephone) not older than 3 months
• Property tax receipt
• Bank account statement from another bank not older than 3 months.

Additional Documents for Student Account:

• Valid student ID card
• Bonafide certificate from recognized educational institution
• For minors (10-18 years): Birth certificate and identity/address proof of guardian.

For PMJDY Account

• Aadhaar Card (preferred)
• If Aadhaar is not available, any one of the officially valid documents listed above
• Recent passport-sized photograph

For Small Account

• Self-attested photograph
• Signature or thumb impression
• Self-declaration of address.

Approved List of ID & Address Proofs

Jammu and Kashmir Bank accepts the following documents as valid ID and address proofs:

For Identity Proof:

• Aadhaar Card (mandatory for certain accounts)
• PAN Card
• Passport
• Voter ID Card
• Driving License
• NREGA Job Card
• Photo ID issued by Central/State Government
• Letter from recognized public authority verifying identity

For Address Proof:

• Aadhaar Card
• Passport
• Voter ID Card
• Driving License
• NREGA Job Card
• Utility bills (not older than 3 months)
• Property or Municipal Tax receipt
• Bank account or Post Office savings bank account statement
• Pension or family pension payment orders
• Letter from recognized public authority verifying address.

Charges for J&K Zero Balance Savings Accounts

Basic Savings Bank Deposit Account (BSBDA)

• Account opening: Free
• ATM/Debit card issuance: Free
• Annual maintenance: Free
• Cheque book: First 10 leaves free per year, Rs. 3 per leaf thereafter
• SMS alerts: Free
• Passbook: Free
• Account statement: Free (quarterly)
• Fund transfer within J&K Bank: Free
• NEFT/RTGS: As per RBI guidelines
• ATM transactions at J&K Bank ATMs: Free (limited to 4 withdrawals per month)
• ATM transactions at other bank ATMs: As per RBI guidelines (free up to certain limits)

J&K Bank Student Savings Account

• Account opening: Free
• ATM/Debit card issuance: Free
• Annual maintenance: Free
• Cheque book: First 10 leaves free per year, Rs. 3 per leaf thereafter
• SMS alerts: Free
• Passbook: Free
• Account statement: Free (quarterly)
• Fund transfer within J&K Bank: Free
• NEFT/RTGS: As per RBI guidelines
• ATM transactions at J&K Bank ATMs: Free
• ATM transactions at other bank ATMs: Free (up to 3 transactions per month in metro cities, 5 in non-metro locations)

J&K Bank PMJDY Account

• Account opening: Free
• RuPay debit card issuance: Free
• Annual maintenance: Free
• Passbook: Free
• SMS alerts: Free
• Account statement: Free (quarterly)
• Fund transfer within J&K Bank: Free
• NEFT/RTGS: As per RBI guidelines
• ATM transactions at J&K Bank ATMs: Free (limited to 4 withdrawals per month)
• ATM transactions at other bank ATMs: As per RBI guidelines (free up to certain limits)

J&K Bank Small Account

• Account opening: Free
• Annual maintenance: Free
• Passbook: Free
• Account statement: Free (quarterly)
• Fund transfer within J&K Bank: Free
• ATM card: Available with basic features
• ATM transactions at J&K Bank ATMs: Free (limited to 4 withdrawals per month)

Transaction Fees

For All Zero Balance Accounts

• NEFT Transactions:
  • Up to Rs. 10,000: Rs. 2.50 + GST
  • Rs. 10,001 to Rs. 1 lakh: Rs. 5 + GST
  • Rs. 1 lakh to Rs. 2 lakh: Rs. 15 + GST
  • Above Rs. 2 lakh: Rs. 25 + GST
• RTGS Transactions:
  • Rs. 2 lakh to Rs. 5 lakh: Rs. 25 + GST
  • Above Rs. 5 lakh: Rs. 50 + GST
• IMPS Transactions:
  • Up to Rs. 1,000: Rs. 2.50 + GST
  • Rs. 1,001 to Rs. 1 lakh: Rs. 5 + GST
  • Rs. 1 lakh to Rs. 2 lakh: Rs. 15 + GST

Transaction Failure Fees

For all zero balance accounts at Jammu and Kashmir Bank:

• Failed ATM transactions due to insufficient funds: Rs. 20 + GST per instance
• Cheque return charges (insufficient funds):
  • Up to Rs. 10,000: Rs. 100 + GST
  • Rs. 10,001 to Rs. 1 lakh: Rs. 150 + GST
  • Above Rs. 1 lakh: Rs. 250 + GST
• ECS/NACH return charges: Rs. 200 + GST per instance

Convenience Fees

• Demand Draft issuance:
  • Up to Rs. 10,000: Rs. 25 + GST
  • Rs. 10,001 to Rs. 1 lakh: Rs. 50 + GST
  • Above Rs. 1 lakh: Rs. 3 per thousand (Min Rs. 50, Max Rs. 15,000) + GST
• Cheque collection (outstation): Rs. 25 + actual courier charges + GST
• Account closure:
  • Within 14 days of opening: Free
  • After 14 days but within 1 year: Rs. 100 + GST
  • After 1 year: Free

Foreign Currency Fees

For all zero balance accounts at Jammu and Kashmir Bank:

• Foreign currency transactions on debit card: 3.5% of transaction amount
• Foreign ATM withdrawal: Rs. 125 + GST per transaction
• Balance inquiry at foreign ATM: Rs. 25 + GST per inquiry
• International remittances (outward):
  • Up to USD 500 (or equivalent): Rs. 300 + GST
  • USD 501 to USD 10,000 (or equivalent): Rs. 500 + GST
  • Above USD 10,000 (or equivalent): Rs. 1,000 + GST

Note: Foreign currency transactions are not available for Small Accounts.

Maximum Limit for J&K Zero Balance Savings Account

• No maximum balance limit for J&K zero balance savings account.

UPI Transaction Limit for J&K Bank Zero Balance Savings Account

• Daily Limit: The daily upper limit for UPI transactions, including fund transfers, bill payments, and merchant payments, is ₹1 lakh.
• Monthly Limit: The overall monthly limit is ₹2,50,000.
• Transaction Count: The maximum number of transactions per day is 20.

What is the Withdrawal Limit Per Day for J&K Bank Zero Balance Savings Account?

ATM Withdrawal Limit:

• You can withdraw a maximum of Rs. 40,000 per day from ATMs using your debit card.

POS Transaction Limit:

• You can make a maximum of Rs. 1,00,000 in Point of Sale (POS) transactions per day using your debit card.