Top Banks Providing Zero Balance Savings Accounts in India

A savings account is one of the most popular banking products among customers. A large number of people in our country have a savings account to keep their money safe as compared to keeping their homes or carrying it everywhere with them. The lender also provides you interest on the money you keep in your savings account with the facility to withdraw a portion of it or full amount anytime anywhere you need without paying any charges for it. But there is this thing about which a lot of individuals ask – Is there a minimum balance that they have to keep in their savings account?

A minimum balance is an amount fixed by the bank that the account holders need to keep in their savings account. But there are a few banks who provide Zero Balance Savings Accounts to the customers. Such lenders do not charge any fees on keeping zero balance in their account. For individuals who are planning to start their financial journey and are looking for banks which can provide Zero Balance Savings Account, this article could be a good read for them. We will be telling you about top banks providing Zero Balance Savings Accounts in India. You will be able to make a better decision after knowing all your options. So, keep reading!

List of Banks Providing Zero Balance Savings Account

We will be talking about both public and private banks that provide Zero Balance Savings Account and also about the other features that these banks provide to the customers. All of them are mentioned below. Have a look at each one of them!

State Bank of India (SBI) Zero Balance Savings Account

When we talk about the leading banks of India, the name of SBI comes at the top because of its large customer base spanned across all parts of India and the seamless services it provides. Among its various services, the SBI Zero balance savings account is one of the most popular products for the customers. You can operate your savings account without keeping money in your account and you will not need to pay any kind of penalty for this. Apart from all its amazing services and facilities, you will also get interest on the money you put into your account.

Some of the important features related to the SBI Zero Balance Savings Account are shown in the below table. Check them out!

RBL Bank Zero Balance Savings Account

RBL Bank is one of the popular private banks that zero balance savings account to individuals. And when it comes to the maximum balance, there is no limit fixed by the lender. On the money in your account, you will get interest rates ranging from 4.75% - 6.75% per annum that is among the highest interest rates offered on the savings account. Not only this, but you will also be getting a Free Rupay Debit Card that will have a withdrawal limit of INR 50,000 in a day. You can check some other details related to the RBL Zero Balance Savings Account in the below table.

HDFC Bank Zero Balance Savings Account

HDFC Bank is one of the renowned names when it comes to the leading private banks of India. With the help of the HDFC Bank Zero Balance Savings Account, you will not need to maintain Minimum Average Balance. Other than this, you also don’t need to deposit any money to open this savings account at HDFC. If you fail to keep any balance in your savings account, you will not need to pay any charges. You will also get a passbook for your account free of cost.

Some of the other important details are shown in the table below. Have a glance!

IndusInd Bank Zero Balance Savings Account

With the Indus Online Zero Balance, you can have a Zero Balance Savings Account that will suit your saving needs. On opening this account, you will get an amazing Premium Debit Card that can give you benefits on several categories like entertainment, shopping, etc, both online and offline. You will just need your Aadhaar Card and PAN Card and your account will be opened instantly.

The below table has some of the features related to the IndusInd Online Zero Balance that you can look at and decide whether it would be a suitable option for you.

Bank of Baroda Zero Balance Savings Account

After the recent merger of the Dena Bank and Vijaya Bank into the Bank of Baroda (BOB), it has emerged as one of the strongest public sector banks of India. Bank of Baroda Zero Balance Savings Account could be the most suitable choice because of its amazing features. All of those important features are shown in the below table. Please check them to know more about it.

Kotak Mahindra Zero Balance Savings Account

Popularly known as the 811 Digital Bank Account, this Zero Balance Savings Account by Kotak Mahindra Bank can be opened from anywhere by just a phone call. There are zero charges if you fail to maintain any balance in your savings account. With interest rates fixed at 3.50% - 4.00% per annum on balance above INR 1 lakh, this could be the best choice for you.

Have a glance at some of the important features of Kotak Mahindra Zero Balance Savings Account in the below table.

DBS Bank Zero Balance Savings Account

DBS Bank is one of the prominent private banks of India that let individuals open the Zero Balance Savings Account with their Aadhaar Card. The best thing about the Digi Savings account is that you don’t need to go anywhere if you want to open this account. You can do this online from anywhere by uploading your KYC documents. Look at the below table to know more about it!

YES BANK Zero Balance Savings Account

YES BANK provides this Smart Salary Advantage Savings Account with which you can open with Zero Balance. On having this account, you will also get unlimited free NEFT and RTGS transactions via the Internet or Mobile.

Want to know more features of this YES BANK Smart Salary Advantage? The below table has all the important details related to it. Check it!

Punjab National Bank (PNB) Zero Balance Savings Account

With the PNB Zero Balance Savings Account, you don’t need to worry about keeping some balance in your account and also about the charges for not maintaining a minimum monthly average balance. The account can be opened even by minors above 10 years of age. You will get an ATM-cum Debit Card without paying any extra charges. However, you will need to pay the Annual Maintenance for your card.

Some other important details related to the PNB Basic Savings Bank Deposit Account are shown below. Have a look!

Standard Chartered Bank Zero Balance Savings Account

With this basic savings account from the Standard Chartered Bank, you can save yourself from the struggle of maintaining a minimum balance every time in your account. This SC Bank Zero Balance Savings Account also provides a free of cost Standard Chartered ATM Debit Card. With this card, you can withdraw cash from any of the ATMs or make payments online and offline. There are several features of this zero balance savings account that we have mentioned in the table below. Please have a glance at them!

So, these are the top ten banks that provide Zero Balance Savings Account. After knowing so much information about them, you must be in a better position to make a better decision.