These Banks Offers Zero Balance Saving Bank Account

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

• 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

Bank Account	Interest Rates
Axis ASAP Instant Savings Account	3.00-3.50%
Kotak 811 Savings Account	3.50-4.00%
HDFC Basic Savings Bank Account	3.00-3.50%
SBI Basic Savings Bank Account	2.75%
ICICI Basic Savings Bank Account	3.00-3.50%

*Interest Rates as on 13 January 2022

Charges and Fees

Bank Account	Fee ATM Transactions	Windrawl (Beyond Fee)
Axis ASAP Instant Savings Account	Rs 5	Rs 20
Kotak 811 Savings Account	Rs 5	Rs 20
HDFC Basic Savings Bank Account	Rs 4	Rs 20
SBI Basic Savings Bank Account	Rs 4	Not Allowed
ICICI Basic Savings Bank Account	Rs 5	Rs 20

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

Deposits and Withdrawal

Bank Account	Withdrawal Limit	Maximum Amount Can in Account
Axis ASAP Instant Savings Account	Rs 50,000	Rs 1 lakh
Kotak 811 Savings Account	Rs 10,000	Rs 1 lakh
HDFC Basic Savings Bank Account	Rs 10,000	NA
SBI Basic Savings Bank Account	RS 10,000/Monthly	Rs 50000
ICICI Basic Savings Bank Account	Rs 10,000	NA

 

* for more details please contact the respective bank

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