Zero Balance Account: Public and private banks in the country provide the facility of opening accounts with zero balance. Let’s see which are the top banks that are widely offering these zero account services.
Indian economy is progressing step by step. It is emerging as one of the most powerful economies in the world. However, there are still many people in the country who do not have a bank account. Especially, those living in remote areas do not have access to minimum banking services. The main reasons for this are the non-availability of banks and the inability of the rural people to spend money to open an account.
Keeping this issue in mind, the central government is taking key steps. As part of this, the facility of opening a bank account is being provided for free. It seeks to open these ‘Zero Balance Accounts’ and involve them in economic development.
Public and private banks in the country are providing the facility of opening accounts with zero balance. This is one of the savings accounts. These banks are allocating accounts to people without any cost. It gives them an opportunity to hide their earned money. There is no problem even if there is no minimum amount. Let’s see which are the top banks that are widely offering these zero account services.
SBI- Basic Savings Bank Deposit Account (BSBDA):
Aadhaar card holders can easily open a zero balance account with SBI. Basic Savings Bank offers these services under the name of Deposit Account. Those who open this account can deposit any amount. There is no maximum limit. After opening the account, the bank will provide a Rupay ATM cum debit card. Money can be withdrawn free of charge at any State Bank branch ATMs.
HDFC Zero Balance Account:
Leading corporate bank HDFC provides these services. Those who have opened an account can hide any amount. Moreover, the bank provides free international or RuPay debit card to them. It enables NEFT and RTGS transfers. Mobile banking services are also provided to these customers. Other banks offer free withdrawal facility four times a month at ATMs.
IndusInd Zero Balance Account :
Minimum 18 years of age to open a zero balance account in this bank. Only majors are eligible for this. Free passbook, debit card, check book transactions can be done five times every month. Free money transfer with RTGS and NEFT.
Axis Zero Balance Account:
Private Bank provides zero balance account services to Axis customers. However, the bank imposes certain conditions for zero balance account holders. With RuPay Debit Cards, you can withdraw up to a maximum of Rs.10,000 only. Apart from this, you can withdraw free of charge only four times in a month from other bank ATMs. More than that will incur a fee.
AU Digital Savings Account:
Generally, you have to go to the bank to open an account. But, you can open an AU Digital Savings Account without going to the bank. Just make a video call to the bank. The bank employee will ask for some details. Telling them clears the line for opening a bank account. Thus, AU Small Finance Bank introduced the concept of completing financial related matters in the form of video chats. A zero balance account can be opened by logging into the bank’s website.
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