Open A BSBD Account Without Maintaining A Minimum Balance A BSBD account is a basic savings bank account that allows you to deposit your savings without any worry of maintaining a minimum balance. Yes, you can open a savings account in which you don’t have to maintain a minimum balance as such savings account is offered by SBI & HDFC Bank. It works the same as a regular savings account but there are many benefits of using BSBD account, know about the features and benefits of opening a BSBD account in the article. What is a BSBD account & what are its features? It is a basic savings account which allows you to deposit your money by offering a certain rate of interest. The basic savings bank deposit account (BSBD) works same as a regular savings account, the slight difference is just that you don’t require to maintain a minimum balance on your BSBD account. Banks like SBI & HDFC offers you the facility of BSBD but first, you have to close your regular savings account in order to apply for a BSBD account. Certain benefits of having a BSBD account is as mentioned below. ● ● ● ● ● ●
Bank Services: You will get the normal banking services on your BSBD account like free debit cum ATM card and other support services. Easy to maintain:- It is easy to maintain as you don’t have to maintain a minimum balance on your BSBD account. Zero charges:- The bank will not charge any penalty fee on non-operative accounts, also you don’t have to pay annual account maintenance charges to your bank. Online facility:- Pay your utility bills and shop online with the net banking services of your BSBD account. Convenient Withdrawal:- You can use any bank ATMs to withdraw cash from your BSBD account like a regular savings account holder. Free debit/ATM card:- Get the free Rupay debit cum ATM card with your BSBD account.
Which are the banks that provide you the BSBD accounts? The two most reputed banks in India provides you the BSBD account services such as. State Bank Of India (SBI): It provides you BSBD services so that you can manage your savings at valuable interest rate. You can withdraw up to 4 times in a month from your BSBD account also you don’t need to maintain a required balance.
HDFC Bank: HDFC Bank BSBD account provides zero initial pay in feature to the farmers with zero monthly balance requirement. Free passbook, cash & check deposit services for the BSBD account holder. You can also avail the safe deposit locker & super saver facility with HDFC Bank basic savings account. You can apply for a BSBD account whether jointly or singly by submitting your KYC details to the respective bank. Now, make your savings easily at an attractive rate of interest with the BSBD account in which you don’t require to maintain a minimum balance, even if the user not using the account then also you don’t have to pay any penalty fee to the bank. For your regular savings, you can use a BSBD account which offers you a valuable rate of interest on your deposit amount.