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
Features
- 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
Features
- 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
Features
- 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
Features
- 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
Features
- 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
Features
- 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
Features
- 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
Features
- 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
Features
- 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
Features
- 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