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These Banks Offers Zero Balance Saving Bank Account

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A savings account is a primary investment instrument for an investor, regardless of the type of investor. It is increasingly getting expensive compared to 10-15 years back. Now, saving accounts comes with multiple charges, fees, conditions, however, in the last couple of years, zero balance saving account are getting increasingly popular among the masses, all thanks to digitalization. These zero balance account comes with a bunch of offers, rewards, discounts on shopping, and opening coupons.

 

Although these zero balance account says zero balance account but banks also impose some conditions that need to be understood. Here, we are picked four zero balance account for normal users based on their benefits. These Banks has a sufficient number of bank branch across the country, which makes them more accessible in case of physical reach.

Zero Saving Bank Account

Zero Saving Bank Account

  • Axis Bank - Axis Bank ASAP Instant Saving account
  • Kotak Mahindra Bank -Kotak 811 Saving Bank Account
  • HDFC Bank - HDFC Basic Saving Bank Account
  • State Bank Of India - SBI Basic Saving Bank Account
  • ICICI Bank -ICICI Basic Saving Bank Account
Interest Rates

Interest Rates

Bank AccountInterest Rates
Axis ASAP Instant Savings Account3.00-3.50%
Kotak 811 Savings Account3.50-4.00%
HDFC Basic Savings Bank Account3.00-3.50%
SBI Basic Savings Bank Account2.75%
ICICI Basic Savings Bank Account3.00-3.50%

*Interest Rates as on 13 January 2022

Charges and Fees
 

Charges and Fees

Bank AccountFee ATM TransactionsWindrawl (Beyond Fee)
Axis ASAP Instant Savings AccountRs 5Rs 20
Kotak 811 Savings AccountRs 5Rs 20
HDFC Basic Savings Bank AccountRs 4Rs 20
SBI Basic Savings Bank AccountRs 4Not Allowed
ICICI Basic Savings Bank AccountRs 5Rs 20

*To Know more details about the respective bank account, contact respective Bank

Deposits and Withdrawal

Deposits and Withdrawal

Bank AccountWithdrawal LimitMaximum Amount Can in Account
Axis ASAP Instant Savings AccountRs 50,000Rs 1 lakh
Kotak 811 Savings AccountRs 10,000Rs 1 lakh
HDFC Basic Savings Bank AccountRs 10,000NA
SBI Basic Savings Bank AccountRS 10,000/MonthlyRs 50000
ICICI Basic Savings Bank AccountRs 10,000NA

* for more details please contact the respective bank

How to Open Zero Balance Saving Account

How to Open Zero Balance Saving Account

Following these 4 steps, you can open your Zero Balance Saving Bank Account with the above-mentioned banks.

  1. PAN and Aadhaar verification
  2. Fill personal details
  3. Fund your account
  4. KYC verification via video call

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