Who can open?

Customers who have opened ‘Basic Savings Bank Deposit Account' will not be eligible to open any other savings bank account in that bank.

Where a customer is having a savings bank deposit account in that bank, that will be required to close it within 30 days from the date of opening a BSBDA account.

However, he can open Fixed Deposit, Recurring Deposit etc., accounts in the bank where one holds 'Basic Savings Bank Deposit Account'.

Services available

This account holder can do transactions such as deposit and withdrawal of cash, the credit of money through electronic payment channels or by means of deposit or collection of cheques at bank branches as well as ATMs.

However, a number of cheque leaf provided fo such accounts will be very less and one has to pay extra for availing more cheque leaf.

Debit card

For such accounts, banks will offer the debit cards free of charge and there will be no annual fee levied on such cards. For such accounts, banks will charge for transactions more than withdrawals through ATMs and other channels.

While balance inquiry done through ATMs will not be counted in the four withdrawals allowed free of charge at ATMs.

For accounts opened under PMJDY, the Rupay card will be provided with an accident insurance cover of Rs 1 lakh to account holders.

BSDA account different from zero balance accounts

Both are more or less same, but banks may offer the zero-balance flexibility to other types of savings account available to them with certain conditions.

Any individual above the age of 10 years can open BSDA Account.

Accounts opened under PMJDY is eligible for a life cover of Rs 30,000.

Overdraft facility

Accounts opened under PMJDY, will be eligible for overdraft facility up to Rs 5000 per household after 6 months transaction in the account.

Aadhaar number will also be required for early processing. In the case where the aadhaar number is not available then, due diligence will be conducted by the bank.

This option is available for only one account per household, preferably lady of the household.

Mobile Banking

Bank customers with basic phone handsets can approach the bank and get his mobile number registered.

The bank will issue an MPIN (Mobile PIN) to the user. Bank customer can dial *99# to open the menu for using USSD.

Once individual receives MPIN, banking facilities like Money Transfer, Bill Payments, Balance Enquiries, Merchant Payments etc. can be done on a simple GSM based Mobile Phone, without the internet.