Opening zero balance saving account will be beneficial, can open account in these 5 banks including SBI and HDFC bank
If you are planning to open a savings account in the bank these days, then it is very important to see before you how much minimum balance will have to be kept in the account. Because the minimum balance in many banks is up to 10 thousand rupees, in such a situation you may have difficulty maintaining the minimum balance. To avoid this problem, you can open a zero balance saving account. We are telling you about such banks where you can open this account.
How much interest will the bank get?
IDFC (6-7%): In this you get the benefit of unlimited free ATM transactions. Mobile banking and NetBanking services will also be available for free.
IndusInd Bank (4-6%): Unlimited free ATM transaction benefits. Apart from this, there is free facility of mobile banking and internet banking.
Kotak Mahindra (4.00%): In this you will get a virtual debit card, which you can use in online shopping. You can also use it for online bill payment.
HDFC (3-3.50 per cent): Here you can open Basic Savings Bank Deposit Account. In this, services like ATM cum debit card, passbook, deposit as well as checkbook, email statement, demand draft will be available for free. You will also get services like NetBanking, Phone Banking and Mobile Banking for free. There is a limit of 4 cash withdrawals every month.
SBI (2.70%): The bank will give you Rupees ATM cum Debit Card, from which money can be withdrawn from ATM. In this month, you will get 4 cash withdrawals from ATMs of SBI or ATMs of other banks for free.
What is zero balance savings account?
In a normal savings account, you have to maintain a minimum balance of 500 to 10000 rupees. Zero Balance Savings Account (BSBD) is called Basic Savings Bank Deposit Account (BSBDA). Banks usually impose a penalty on you for not having a minimum balance. But this rule does not apply to Zero Balance Savings Account (BSBD). There is no hassle of maintaining a minimum balance. However many banks do not offer all the facilities like a common savings account on BSBDA.