Top 5 Indian Banks that offer Zero Balance Account


After our PM Mr. Narendra Modi, announced demonetization of 500 and 1000 notes, people are running to their banks and ATMs to withdraw money from their account. In India there are many private and government banks that offer banking services with certain (MAB) Minimum account balance, however, there are less no. of banks who offers full-fledged banking services with zero balance account.

Generally,  any Government or Private bank provide banking services with nominal minimum account balance charges. MAB limit of banks varies from Rs.500 to Rs.5000 and up to Rs.10,000 to Rs.1,00,000. In the event of non-maintenance of MAB, Customer has to pay the certain charges as per stated by a bank while account opening.  However, the problem is govt banks do not provide the services at par with private banks and Private banks that offer good services doesn’t offer Zero balance account.

As per RBI guidelines every bank is mandated to offer (BSBDA) Basic Savings Bank Deposit Account to its customers. However, BSBDA account comes with a number of limitations and restrictions i.e customer having BSBDA account in a bank cannot have another saving account in the same bank, Total credits in the account cannot exceed more than one lakh rupees in a year.

Today we will list down some private banks and some govt banks that offer zero balance account with all the basic banking services like Debit card, Netbanking, Cheque book etc.

1. Kotak Mahindra Bank : Kotak JIFI and Kotak JIFI Neo

kotak JIFI




Kotak JIFI by Kotak Mahindra bank offers Zero balance account with 6% p.a. interest on savings balances. Bank also offer free online funds transfer via IMPS, NEFT and RTGS and offers Platinum debit card on JIFI C/A account.

2. DBS by digibank

DBS by digibank

DBS digibank is purely app-based banking service. Smartphone users with Aadhar Card can open digibank account online by installing app on their smartphone. DBS by digibank offer zero balance saving account. Bank offer 7% interest , E-Wallet facility, VISA debit card, Unlimited free ATM withdrawals from any ATM, Free Online funds transfer via NEFT, IMPS. However, because it is online app-based banking, a customer cannot fund their account by cash from the bank branch.


3.  Federal Bank : FedBook Selfie


Federal bank also offers app based zero balance account for Indian residents. Android and IOS users can install Fedbook app from google play Store / iStore. User need to take their selfie, scan Aadhar card and PAN card and required to submit online in the app. After scanning user will get bank account details immediately on their mobile screen. Bank will call for confirmation and activation of account.


4. IndusInd Bank : Indus Easy Savings Account


Indus Easy Savings Account is a Basic Savings Bank Deposit Account (BSBDA). 


5. SBI : SBI Basic saving account




SBI is a Basic Savings Bank Deposit Account (BSBDA). 





3 Responses

  1. mohan lama

    December 14, 2016 6:21 am

    I applied for Adhar card but, I lost my slip, so I don’t know my slip number what should I do now to get my Adhar card


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