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Top Zero Balance Saving Accounts 2020

A savings account is a perfect way to keep your money safe and grow, but zero balance savings account is the icing on the cake if you don’t want to maintain a minimum balance. The Zero balance savings account is a type of a saving account which encourages people to make savings and open a savings account but you don’t have to maintain a minimum balance for it. Despite this, the bank will still provide the usual facilities that come with a regular savings account. Almost every bank in India has a facility of zero balance savings account but to select which one is the best can be a task for you. So, here we have made a list of top 10 zero balance savings account of 2020.


  • IDFC First Bank Pratham Savings Account


Rate of Interest- 6.00% per annum


  • Unlimited ATM withdrawals
  • Quick transactions at any micro ATM
  • Free access to the internet and mobile banking
  • Free mini statement and know about account balances anytime and from anywhere
  • Apply using your Adhaar card at any branch 


  • DBS- DigiSavings


Rate of Interest- 3.50-6.00% per annum


  • Use your Adhaar card to open online
  • Get up to 5% interest rate, e-Wallet feature, unlimited free ATM withdrawals from any ATM
  • Free fund transfers using UPI, IMPS, NEFT and RTGS every time
  • Enjoy cashback of up to 10% on shopping from e-commerce website


  • YES Bank- Smart Salary Advantage


Rate of Interest- Up to 6.00% per annum


  • No minimum balance required
  • Unlimited transactions YES Bank ATM across the country for free
  • Five free transactions monthly in any bank of India
  • A free Account with standard AMC & NSDL charges applicable
  • The card covers accidental death Insurance, lost card liability, and purchase protection


  • Kotak Mahindra Bank- 811 Digital Bank Account


Rate of Interest- Up to 4.00% per annum


  • Enjoy up to a maximum of 6% interest rate on zero balance savings account
  • No maintenance charges on the account
  • Avail the new 811 Virtual Debit Card which is used to shop online
  • Transfer money online for free



  • IndusInd Bank- Indus Online Savings Account


Rate of Interest- 4.00-6.00% per annum


  • An account can be opened by sitting at home, the whole procedure is online 
  • Get a Premium Debit Card 
  • You are free to choose the account number of your choice
  • Free NEFT / RTGS / IMPS transactions on online channels
  • Save on fuel surcharge waiver for up to Rs.250 per month 


  • Standard Chartered Bank- Aasaan / BSBDA


Rate of Interest- 0.50-3.75% per annum


  • All you need is Aadhaar based eKYC to open the account
  • Free NEFT / RTGS transactions
  • Fee cash deposit, cash withdrawal, DD and PO
  • Get an International Platinum debit card free for the first year
  • You can access free monthly account statements and free passbook


  • HDFC Bank- Basic Savings Bank Deposit Account (BSBDA)


Rate of Interest- 3.00-3.50% per annum


  • All account holders get a free passbook
  • Cash and cheque deposits are for free at branches and ATMs.
  • Customers get free Rupay Card
  • Enjoy lifetime BillPay, InstaQuery facility, email statements for free
  • Check your account balance through mobile banking or via SMS


  • State Bank of India- Basic Savings Bank Deposit Account (BSBDA)


Rate of Interest-  2.70% per annum


  • You only need KYC documents to open the account
  • No maximum balance required
  • The customer gets a basic Rupay ATM-cum-debit card 


  • RBL Bank Zero Balance Savings Account


Rate of Interest-  5.00-6.75% per annum


  • Free Rupay Card with a cash withdrawal limit of  Rs. 50,000 for ATM & Rs. 30,000 for POS
  • Free transfer of funds using NEFT & RTGS.
  • Unlimited free transactions at RBL Bank’s ATMs.
  • No fees charged for the replacement of a damaged card


  • Punjab National Bank


Rate of Interest- 3.50-3.75% per annum


  • Get first 10 cheque leaves for free in the first year
  • All nomination rules are applicable in this account 
  • No additional charges for availing ATM cum debit card