best zero balance savings bank account

Savings bank accounts are considered to be the most basic banking facility that attracts people. Many banks in India offer the best zero balance savings bank account with good interest rates.

Banks in India have introduced many attractive features to gain popularity, one of which is zero balance savings account where there is no requirement to maintain minimum balance. Almost all top Indian banks offer this facility.

Several Indian banks have played a key role in making the Government of India’s “Har Ghar Bank Account Campaign” a success by linking the zero balance savings account scheme with the Pradhan Mantri Jan Dhan Yojana (PMJDY).

Customers who want to connect with a bank by opening a savings account and do away with the hassle of maintaining minimum balance, can opt for a zero balance savings bank account and avail various banking facilities.

best zero balance savings bank account

Zero-balance savings account is a basic savings account, so there is no monthly average balance requirement at the time of opening. In short, a zero-balance savings account can be opened for free.

Do you want to open Zero Balance Savings Account? If you are wondering which zero balance savings account can be best? So we have given top free savings bank account list, you can choose any one or more than one of these.

savings bank account name bank status Rate of interest minimum balance special feature
Basic Savings Bank Deposit Account (State Bank of India) official 3% to 4% Zero Largest network of branches
HDFC Basic Savings Bank Deposit Account (BSBDA) Private 3% to 3.5% Zero IVR Based Phone Banking
IDFC First Bank Pratham Savings Account Private 4% to 6% Zero Unlimited ATM Transactions
Axis Bank Prime Savings Account Private 3% to 3.5% Zero cashback voucher
ICICI Zero Balance Savings Account Private 3% to 4% Zero Strong security with multiple savings accounts
Bank of Baroda Zero Balance Savings Account official 3% to 3.5% Zero No limit on maximum balance
Indus Delight Savings Account (IndusInd Bank) Private 4% to 5% Zero Cashback/Reward Points
RBL Zero Savings Bank Account Private 4% to 6% Zero attractive interest rates
Punjab National Bank (PNB) Zero Balance Savings Account official 3% to 4% Zero Basic RuPay ATM-cum-Debit Card
Kotak 811 Full KYC Account (Kotak Mahindra Bank) Private 3.5% to 4% Zero Physical Debit Card Available
Yes Bank Zero Balance Savings Account Private 4% to 5% Zero Free Titanium Debit Card
Standard Chartered Bank Zero Balance Savings Account foreign bank 2.5% to 3.5% Zero Free Multicity Check Book

in addition to the above ,

  • public sector banks – Bank of India, Canara Bank, Union Bank of India, Central Bank of India, UCO Bank
  • private sector banks – Bandhan Bank, City Union Bank, Dhanlaxmi Bank, IDBI Bank, Federal Bank
  • Small Finance Bank – AU Small Finance Bank, Capital Small Finance Bank, Equitas Small Finance Bank, Suryoday Small Finance Bank, Ujjivan Small Finance Bank
  • Payments Bank – Airtel Payments Bank, Paytm Payments Bank, India Post Payments Bank, Fino Payments Bank

You can also open zero balance savings account for free. You can also contact your regional or regional bank to open a zero balance savings account and get the benefit of online-offline banking facility.

Zero balance savings account is really a good initiative to connect people from low income rural and backward areas. Pradhan Mantri Jan Dhan Yojana has also proved to be a panacea for this and our banks have been successful in providing banking facilities to remote areas of India.

You can also open a Joint Basic Savings Account with it. For this the second party has to be related to the primary account holder and both have to be present at the bank with their required documents at the time of opening the account.

We have told you about zero balance savings account offered by both government and private banks. You can open any of these best free savings accounts based on your convenience and proximity.

Note

Keep in mind that some banks don’t offer a lot of features on these types of bank accounts.

Some banks offer zero balance savings account only for one year so read the terms and conditions of the bank before opening such accounts.

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