BSBD New Rules: The RBI has ordered banks to provide the same benefits to customers operating zero-balance accounts as other customers. Let’s find out what benefits you’ll receive in the new year.
Zero Balance Account Features: If you have a zero balance account with any bank, this news is useful. Yes, the Reserve Bank of India (RBI) has ordered banks to provide various benefits to customers with zero balance accounts. The RBI has announced the full upgrade of the Basic Savings Account (BSBD) by 2026. BSBD is also known as a zero balance account in banking terminology. This type of account was introduced for students, the poor, laborers, and rural residents.
Freebies to be added
The RBI mandates that so many freebies will be added to these accounts that even the features of a typical savings account will pale in comparison. The new regulations will be implemented in banks across the country from April 1, 2026. Under this scheme, customers with BSBD accounts will now be able to deposit unlimited cash into their accounts. Furthermore, the annual ATM and debit card charges will also be reduced to zero. Let’s find out what benefits the RBI will provide to BSBD account holders.
What facilities will be available for free?
- You will be able to deposit unlimited cash at any branch, and that too absolutely free.
- The ATM cum debit card will be free. Its annual charge will be zero.
- Checkbook and at least 25 checks per year will be available absolutely free.
- Free internet and mobile banking facilities.
- A passbook or monthly statement will be available absolutely free.
- At least four withdrawals per month (ATM + transfer) will also be free.
- UPI, NEFT, RTGS, IMPS will never be counted.
- The bank will not be able to force anything on you. Cards, checkbooks, and net banking will all be available only with your consent.
One Bank, One BSBD
With the implementation of this rule, fraud can now be completely eliminated. A person can now have only one BSBD account nationwide. When opening a new account, you must provide a written undertaking that you do not have another account. Old, normal savings accounts can also be converted to BSBD within 7 days. This facility is also available online. The RBI has asked payment banks (such as Airtel and Paytm) to implement this rule as soon as possible. Furthermore, all banks will implement this rule from April 1, 2026.
Power to the poor, responsibility to the banks
The RBI has clearly stated that this account is for financial inclusion. Banks will no longer be able to discriminate against customers holding BSBD accounts. They will receive all the same benefits as other account holders. The old KYC and minor account rules will remain the same. Simply put, starting April 1, 2026, zero-balance accounts will offer premium benefits without spending a single rupee.
