SBI Zero Balance Savings Account

Last Updated : March 25, 2025, 5:34 p.m.

The State Bank of India (SBI), as India’s largest public sector bank, has long been at the forefront of offering innovative and customer-centric banking solutions. One such solution is the Zero Balance Savings Account, which enables customers to manage everyday banking without the pressure of maintaining a minimum balance.

This guide explains every detail about SBI’s Zero Balance Savings Account—from the various account types available and interest rates offered to the procedures for account opening, documentation, fee structure, and frequently asked questions.

Types of SBI Zero Balance Savings Account

Basic Savings Bank Deposit Account

This is one of the top zero balance savings accounts offered by SBI.

Free Basic RuPay Debit Card: Issued at no cost with no annual maintenance charges.

Free Transactions:

• Up to 4 cash withdrawals per month are free, including ATM withdrawals
• credit of money via electronic channels like NEFT/RTGS is free.
• This account can be opened singly, jointly, or with options like "Either or Survivor" or "Former or Survivor."

Withdrawal Limit: Only 4 free withdrawals per month.

No Chequebook: Withdrawals are facilitated through withdrawal forms or the RuPay Debit Card.

Exclusive Account Rule: Holding another SBI savings account alongside a BSBD account is not allowed.

Basic Savings Bank Deposit Small Account

Some of the features of this account are as follows -

Free Basic Services:

• Up to 4 cash withdrawals per month are free (via ATMs, branches, or other permissible channels).
• Receipt/credit of money through electronic channels (e.g., NEFT/RTGS) is free.
• No charges for account opening or closure.

RuPay Debit Card: A basic RuPay Debit Card is provided free of cost with no annual maintenance fees.

No Chequebook: Withdrawals are facilitated through withdrawal forms or the RuPay Debit Card.

Transaction Limits:

• The maximum balance in the account cannot exceed ₹50,000 at any time.
• Total credits (deposits) in a year cannot exceed ₹1,00,000.
• Total withdrawals and transfers in a month are capped at ₹10,000.

Saving Account For Minor

This is one of the best zero balance savings accounts for minors.

Joint Operation: The account is opened in the minor’s name but operated by the parent/guardian until the minor turns 18.

Debit Card: A personalized RuPay Debit Card is issued in the minor’s name (with the guardian’s name optionally included), subject to guardian consent.

Internet Banking: Limited access is provided to the guardian for monitoring and transactions.

Chequebook: Available with the minor’s photo and guardian’s name if requested.

Interest Rate: Same as a regular SBI savings account (currently 2.70% to 3.00% p.a., depending on the balance).

Auto Sweep Facility: Optional feature where balances above ₹20,000 can be transferred to a term deposit for higher interest (in multiples of ₹1,000).

Transaction Limits:

• Daily ATM withdrawal limit: ₹5,000 (customizable by guardian).
• No limit on deposits or electronic credits.

Savings Plus Account

This is a premier zero balance account -

Auto-Sweep Facility: Funds above a threshold limit (minimum ₹35,000) in the savings account are automatically transferred to term deposits in multiples of ₹1,000. The minimum transfer amount to MODS is ₹10,000 in one instance.

Term Deposit Duration: Ranges from 1 to 5 years, offering higher interest rates than a standard savings account

No Minimum Balance Requirement: No monthly average balance (MAB) is mandated, meaning no penalties for low balances.

Liquidity with MODS Breakup: If the savings balance falls below ₹25,000, the term deposits are broken (using the "Last In, First Out" principle unless specified otherwise) to maintain liquidity, with no penalty for premature withdrawal.

• Free RuPay Debit Card, internet banking, mobile banking, and SMS alerts.
• 10 free cheque leaves per year; additional leaves are chargeable based on the quarterly average balance.
• Passbook is issued free; a duplicate is available for a fee. E-statements can be sent via email.

Loan Facility: Loans can be availed against the MOD deposits.

No Maximum Balance Limit: Unlimited funds can be maintained in the account.

Withdrawal Limits: Free withdrawals are restricted based on the monthly average balance maintained (specific limits vary by branch policy).

Charges: No fees for account maintenance or closure, but additional cheque leaves or excessive withdrawals may incur charges per SBI’s standard tariff.

Central Armed Police Salary Package (CAPSP)

This is specially designed for CAPF personnel.

Unlimited ATM Transactions: Free unlimited withdrawals at any bank’s ATM across India.

Debit Card:

• Gold: International Gold Debit Card (₹50,000 daily withdrawal limit).
• Diamond/Platinum: International Platinum Debit Card (₹1,00,000 daily withdrawal limit).
• Issued free with no annual maintenance charges.

Insurance Coverage (Serving Personnel):

• Personal Accident Insurance (PAI): ₹50 lakh (death cover).
• Air Accident Insurance: ₹1 crore (death cover).
• Permanent Total/Partial Disability Cover: Up to ₹50 lakh (terms apply).
• Additional Cover: Up to ₹10 lakh Xpress Credit loan cover for death in action against terrorists, Naxalites, or foreign enemies.

Insurance for Pensioners: ₹30 lakh PAI (death cover), no age restriction, but excludes disability and overdraft benefits.

Loan Benefits:

• Personal loans, home loans, car loans, and education loans at attractive rates with up to 50% off on processing fees.
• Overdraft facility (Gold and above variants) for serving personnel with 6+ months of residual service and regular salary credits (subject to SBI discretion).

Auto-Sweep Facility: Optional feature to transfer surplus funds into e-MODs (Multi-Option Deposits) for higher interest.

Other Perks:

• Free online NEFT/RTGS transactions.
• Free issuance of drafts and multi-city cheques.
• Up to 25% discount on annual locker rent.
• SBI Rewardz loyalty program for earning points on transactions.
• Demat and online trading account options at onboarding.

Defence Salary Package (DSP)

This account is for defence personnel.

Unlimited ATM Transactions: Free withdrawals at any bank’s ATM across India.

Debit Card:

• Gold: International Gold Debit Card (₹50,000 daily withdrawal limit).
• Diamond/Platinum: International Platinum Debit Card (₹1,00,000 daily withdrawal limit).
• Issued free with no annual maintenance charges.

Insurance Coverage (Serving Personnel):

• Personal Accident Insurance (PAI): ₹50 lakh (death cover).
• Air Accident Insurance: ₹1 crore (death cover).
• Permanent Total/Partial Disability Cover: Up to ₹50 lakh.
• Additional Cover: Up to ₹10 lakh for Xpress Credit loan holders in case of death in action against terrorists, Naxalites, or foreign enemies.

Insurance for Pensioners: ₹30 lakh PAI (death cover), no age limit, but excludes disability and overdraft benefits.

Loan Benefits:

• Personal loans, home loans (Shaurya Home Loan), car loans, and education loans with up to 100% waiver on processing fees and competitive interest rates.
• Overdraft: Up to 2 months’ net salary (max ₹75,000) for serving personnel with 6+ months of residual service (subject to eligibility).

Additional Perks:

• Free NEFT/RTGS, drafts, and multi-city cheques.
• Up to 25% discount on locker rent (15% for Gold/Diamond, 25% for Platinum).
• Free SMS alerts, Passbook, and e-statements.
• SBI Rewardz loyalty points on transactions.
• Demat and online trading account options at onboarding.

Police Salary Package (PSP)

This account is introduced for the Police force.

Unlimited ATM Transactions: Free unlimited withdrawals at any bank’s ATMs across India.

Debit Card:

• Silver: Domestic Classic Debit Card (₹20,000 daily withdrawal limit).
• Gold/Diamond: International Gold Debit Card (₹50,000 daily withdrawal limit).
• Platinum: International Platinum Debit Card (₹1,00,000 daily withdrawal limit).
• Issued free with no annual maintenance charges.

Insurance Coverage:

• Personal Accident Insurance (Death):
  • Silver: ₹5 lakh.
  • Gold: ₹10 lakh.
  • Diamond: ₹15 lakh.
  • Platinum: ₹20 lakh.
• Air Accident Insurance (Death): Up to ₹30 lakh across all variants.
• Terms and conditions apply (e.g., active service, cause of death).

Loan Benefits:

• Personal loans, home loans, car loans, and education loans with up to 50% off on processing fees.
• Overdraft: Up to 2 months’ net salary (max varies by variant, subject to eligibility and 6+ months of residual service).

Additional Perks:

• Free online NEFT/RTGS transactions.
• Free issuance of drafts and multi-city cheques.
• Up to 25% discount on annual locker rent (varies by variant).
• Free SMS alerts and e-statements.
• SBI Rewardz loyalty points on transactions.
• Option for Demat and online trading accounts at onboarding.

SBI Rishtey

Debit Card:

• Issued free of cost with no annual maintenance charges.
• Type varies by the primary account’s variant:
  • For DSP/CAPSP/PSP Gold or above: Likely an International Gold or Platinum Debit Card (₹50,000–₹1,00,000 daily withdrawal limit).
  • For lower variants (e.g., PSP Silver): Domestic Classic Debit Card (₹20,000 daily withdrawal limit).

Unlimited ATM Transactions: Free unlimited withdrawals at SBI and other bank ATMs across India, mirroring the primary account’s perk.

Banking Services:

• Free online NEFT/RTGS transactions.
• Free SMS alerts and e-statements.
• Access to internet and mobile banking (view and transaction capabilities, subject to account setup).

Discounts and Offers:

• Up to 15%–25% discount on annual locker rent, depending on the primary account’s variant (e.g., Platinum holders may get higher discounts).
• SBI Rewardz loyalty points on debit card transactions.

No Insurance Coverage: Unlike the primary salary packages (e.g., DSP’s ₹50 lakh PAI or PSP’s ₹5–20 lakh), Rishtey accounts typically do not include personal or air accident insurance.

Loan Benefits: Family members may access personal, home, or car loans with concessional processing fees (up to 50% off), though eligibility depends on individual creditworthiness and linkage to the primary account holder’s benefits.

Documents Required for SBI Bank Zero Balance Savings Account

For those without full KYC documents initially.

Documents Required:

1. Minimal Documentation:
   • A self-attested photograph.
   • Signature or thumb impression (verified in the presence of an SBI official).
2. No Full KYC Initially:
   • No need for standard ID/address proof at opening, but restrictions apply (e.g., ₹50,000 max balance, ₹10,000 monthly withdrawal).
   • Within 12–24 months, full KYC (as above for BSBD) must be submitted to remove restrictions.
3. Account Opening Form:
   • Filled and signed at the branch.

SBI Pehla Kadam/Pehli Udaan (Minors’ Zero Balance Account)

For minors below 18 years.

Documents Required:

1. For the Minor (Identity):
   • Birth Certificate.
   • Aadhaar Card (if available).
   • School ID or Marksheet (optional, for Pehli Udaan).
2. For the Guardian:
   • Identity Proof: Aadhaar, PAN, Voter ID, Passport, or Driving License.
   • Address Proof: Aadhaar, utility bill, or passport (if separate from ID).
3. Photograph:
   • One or two passport-sized photos of the minor (guardian’s photo may be optional).
4. Account Opening Form:
   • Filled by the guardian, specifying Pehla Kadam (any age) or Pehli Udaan (10+ years).
5. Proof of Relationship:
   • Birth certificate or Aadhaar linking minor to guardian (if not evident).

SBI Salary Packages (DSP, CAPSP, PSP, etc.)

For personnel of armed forces, police, etc., with zero-balance benefits.

Documents Required:

1. Identity Proof:
   • Aadhaar Card, PAN Card, Voter ID, or Passport.
2. Address Proof:
   • Aadhaar, utility bill, or passport (if separate).
3. Employment Proof:
   • Official ID card (e.g., Army/Navy/Air Force ID, Police ID).
   • Salary slip or certificate from employer.
   • For pensioners: Pension Payment Order (PPO).
4. Photograph:
   • Two recent passport-sized photos.
5. Account Opening Form:
   • Fill in and specify the package (e.g., DSP Gold, CAPSP Platinum).

How to open an SBI Zero Balance Savings Account?

Opening an SBI Basic Savings Bank Deposit (BSBD) Account

Offline Method (Branch Visit):

1. Visit an SBI Branch:
   • Go to any SBI branch (except specialized ones like Corporate or Personal Banking Branches).
2. Collect the Form:
   • Request the BSBD Account opening form from the counter or download it from sbi.co.in and fill it beforehand.
3. Submit Required Documents:
   • Identity Proof: Aadhaar, PAN, Voter ID, Passport, Driving License, or NREGA Job Card.
   • Address Proof: Aadhaar, utility bill (not older than 3 months), passport, or Voter ID (if separate from ID).
   • Photographs: Two recent passport-sized photos.
   • Note: Aadhaar can serve as both ID and address proof, simplifying the process.
4. Complete KYC Verification:
   • If using Aadhaar, provide your Aadhaar number and verify via OTP sent to your registered mobile number.
   • For other documents, the branch official verifies them physically.
5. Sign the Form:
   • Sign the application form and, if applicable, the nomination form (optional but recommended).
6. Account Activation:
   • Once verified, the account is opened instantly or within 1–2 days. You’ll receive an account number, passbook, and a free RuPay Debit Card (issued later if not immediately).

Online Method (Partial):

1. Visit SBI Website or YONO App:
   • Go to sbi.co.in or download the YONO SBI app.
   • Navigate to “Open Savings Account” > Select “Basic Savings Bank Deposit Account.”
2. Fill Details:
   • Enter personal details (name, date of birth, mobile number, email).
   • Upload scanned copies of ID proof (e.g., Aadhaar), address proof, and a photo.
3. Generate Temporary Reference Number:
   • After submission, you’ll get a reference number via SMS/email.
4. Visit Branch for KYC:
   • Take the reference number and original documents to an SBI branch within 30 days.
   • Complete in-person KYC (Aadhaar OTP or physical verification).
5. Account Activation:
   • Post-verification, the account is activated, and you receive your account details and debit card.

Opening an SBI BSBD Small Account (Simplified KYC)

For those without full KYC documents initially.

Offline Only:

1. Visit an SBI Branch:
   • Approach any SBI branch and request a BSBD Small Account.
2. Submit Minimal Documents:
   • One self-attested photograph.
   • Provide signature or thumb impression in the presence of a bank official.
3. Fill the Form:
   • Complete the simplified account opening form.
4. Account Activation:
   • The account is opened immediately with restrictions (e.g., ₹50,000 max balance, ₹10,000 monthly withdrawal).
   • Full KYC (ID/address proof) must be submitted within 12–24 months to remove limits.

Note:

• No online option due to the in-person verification requirement.

Opening SBI Pehla Kadam/Pehli Udaan (Minors’ Account)

Offline Method:

1. Visit an SBI Branch:
   • Accompany the minor to the branch.
2. Submit Documents:
   • Minor: Birth Certificate, Aadhaar (if available), one photo.
   • Guardian: Aadhaar, PAN, or other ID/address proof, one photo.
   • Proof of relationship (e.g., birth certificate linking minor to guardian).
3. Fill out the Form:
   • Specify Pehla Kadam (any age) or Pehli Udaan (10+ years) in the application.
4. KYC Verification:
   • Guardian’s KYC is verified (Aadhaar OTP or physical check).
5. Account Activation:
   • The account is opened in the minor’s name, operated by the guardian. A RuPay Debit Card is issued in the minor’s name.

Online (Partial):

• Start via the YONO app under “Accounts for Minors,” upload documents, and complete KYC at a branch.

Opening SBI Salary Package Accounts (DSP, CAPSP, PSP)

For armed forces/police personnel.

Offline Method:

1. Visit an SBI Branch:
   • Go with employment proof.
2. Submit Documents:
   • ID Proof: Aadhaar, PAN, or Voter ID.
   • Address Proof: Aadhaar or utility bill.
   • Employment Proof: Official ID card (e.g., Army/Police ID), salary slip, or employer certificate.
   • Two photos.
3. Fill the Form:
   • Specify the package (e.g., DSP Gold, CAPSP Platinum).
4. KYC and Activation:
   • Post-KYC, the account is activated with salary package benefits (e.g., free debit card, insurance).

Online (Partial):

• Apply via sbi.co.in under “Salary Accounts,” upload documents, and visit a branch for final steps.

Maximum Limit for SBI Zero Balance Savings Account

SBI Basic Savings Bank Deposit Account (BSBDA):

• This zero-balance account has no minimum balance requirement and no upper limit on the balance.

BSBDA Small:

• This account, designed for low-income individuals, has a maximum balance limit of ₹50,000.

Savings Account for Minors:

• The maximum balance limit for these accounts is ₹10 lakhs.

UPI Transaction Limit of SBI Bank Zero-Balance Savings Account

Daily Limit:

• The maximum amount you can transfer via UPI from your SBI zero-balance account in a single day is ₹1,00,000

Number of Transactions:

• You can make a maximum of 20 UPI transactions in 24 hours per account within the ₹1,00,000 limit for P2P transactions, and there is no limit in terms of transactions in 24 hours per account within the ₹1,00,000 limit for P2M transactions.

What is the Withdrawal Limit Per Day of SBI Zero Balance Savings Account?

• No Daily Limit: SBI does not impose a specific daily withdrawal limit for BSBD accounts.
• Monthly Withdrawal Limit: You can make a maximum of 4 cash withdrawals (including ATM withdrawals) in a month without incurring any charge.