Can you open A 0 balance account in India? Banks in India provide you a wide range of products using which you can manage your earnings or savings as such banking product is a zero balance account. You can request a 0 balance account in India from your respective banks, as it is suitable for providing benefit to the customers. In a zero balance account, you didn’t have to maintain a minimum balance and deposit the money into your account anytime. It works similarly as a savings account, the difference is just that your account will not close or you don’t have to pay any extra charges when your account balance is zero. Read this article to know which banks offer 0 balance account in India. Top banks in India that offers you a zero balance account ICICI Bank: ICICI bank provides a zero balance savings account at an interest rate of 3.5% if the balance amount is below INR 50 lakh and 4% if the amount is equal to INR 50 lakh and above. If you are not an account holder of ICICI Bank savings account then you can also open a basic savings bank deposit account (BSBD). Whereas the existing customer first, have to close their regular savings account to open a zero balance account. State Bank of India (SBI): You can also apply for a Zero balance account in SBI as it offers an interest rate of 3.5%. Under the SBI zero balance account, you can maintain a zero balance and there are no additional charges applicable to your account. There is also no upper limit on your deposited money and the account holders will get a RuPay debit card with their account. Standard Chartered Bank: For a zero balance account, Standard Chartered Bank offers an interest rate at 3.5 percent for an amount up to Rs 50 lakh and 4 percent for Rs 50 lakh and above. The bank offers you a digital zero balance account for hassle-free services. You can also get a free multicity checkbooks and debit card for ATM withdrawals. Axis Bank: You can simply open an Axis Bank zero balance by providing your mobile number, Aadhaar and PAN details. With the zero balance account savings account, you can get an auto-sweep Flexi fixed deposit on balances above INR 1,000. However, Axis Bank savings account comes with a capping of maximum Rs 1 lakh that will be deposited in your account. If you convert your 0 balance saving account into fully KYC then your maximum deposit balance can be changed. HDFC Bank: The best 0 balance account in India is provided by HDFC Bank at an interest rate of 3.5% to 4% depending on your deposited amount. It gives you the facility to upgrade the debit card into the international card and the benefit of IVR based phone banking service. You can
also get the free fund transfer facility by NEFT and withdraw cash from the ATMs 3 times in a month. So, open a zero balance savings account to create a habit of savings and enjoy the benefits provided by the banks.