Best Zero Balance Savings Account In India

A zero balance savings account allows you to open and maintain a bank account without any minimum balance requirement. These accounts offer free basic banking services like debit cards, ATM withdrawals, online transfers, and mobile banking. Many leading banks in India offer zero balance accounts with attractive interest rates and digital access. 

Learn how to open one online, compare interest rates, and explore the benefits of choosing the best zero balance savings account in 2025.

 What are the Best Zero Balance Savings Accounts in India?

Following are some of the best banks offering zero balance savings accounts in 2025, along with their interest rates:

After going through the interest rates, you can easily choose the best online bank account opening with zero balance. 

What is a Zero Balance Savings Account?

A zero balance account is a type of savings account where you can have a minimum balance of zero and still not have to pay a penalty fee. As per the RBI guidelines, this type of account is also known as Basic Savings Bank Deposit (BSBD) account. 

Account holders with a zero balance savings account can enjoy similar facilities to that of a savings account. You can open a single account or even a joint zero balance account to enjoy the benefits of this account type.

However, before you open a zero-balance account, you must remember that banks usually allow a limited number of transactions. This number usually ranges around four per month. In case you exceed this set limit, your account will be converted to a regular savings account.

Features of Zero Balance Savings Account

Below are the features of the top zero balance savings account. 

State Bank of India Basic Savings Bank Deposit Account (BSBDA)

• Withdrawals allowed from ATMs or bank branch
• Basic RuPay ATM-cum-debit card issued free of cost with no annual maintenance charge
• Maximum balance must not exceed Rs. 50,000
• Maximum of 4 withdrawals in a month, including own ATM and other bank ATM withdrawals and transactions through RTGS, NEFT, cash withdrawal, cash transfer, internet debits, standing instructions, EMI, etc
• Free receipt or credit of money through electronic payment channels like NEFT and RTGS
• No account closure charges

Standard Chartered Bank Basic Banking Savings Account

• Standard Chartered debit card issued free of cost for daily spending and ATM withdrawals
• Chequebook provided free of cost
• Unlimited cash withdrawal for any number of times from own or other bank's ATM
• Access to a wide range of instant payment solutions like UPI, Bharat bill payment solution, BharatQR, and Samsung Pay
• Transfer money free of cost via IMPS, NEFT or RTGS and other bill payments on Standard Chartered Mobile app  

IDFC First Bank Future First Savings Account

• Offered to graduate and postgraduate students from premier or identified educational institutes in India
• Free fund transfer and account services like NEFT, RTGS, IMPS, ATM transactions, cash transactions, chequebook issuance, etc
• Unlimited ATM transactions at any bank
• Issuance of VISA Signature debit card with exciting offers on food, travel, shopping and travel
• Personal accident cover of Rs. 35 lakhs and air accident insurance of Rs. 1 crore
• Airport lounge access twice every quarter in major cities
• Monthly interest credits to earn 'Interest on interest'

HDFC Bank BSBDA

• Safe deposit locker facility 
• Free passbook facility
• Free cash deposits at branches and ATMs
• Rupay card issued for free
• Maximum of 4 monthly withdrawals, including own ATM and other bank ATM withdrawals and transactions through RTGS, NEFT, IMPS, fund transfers, cash withdrawal at the branch, standing instructions, EMI, POS transactions, etc 
• Free 25 cheque leaves for a financial year
• Check balance, pay utility bills and stop cheque payments via SMS
• Easy banking with facilities like NetBanking, MobileBanking and PhoneBanking

Kotak Mahindra Bank 811 Digital Savings Account

• Virtual debit card issued for free
• Free fund transfer through NEFT, RTGS, IMPS and UPI
• Cash and cheque deposits allowed at bank branch
• Cash withdrawal from bank branches
• Pay bills, shop online, recharge or 'scan and pay' at merchant outlets through virtual debit card

AU Digital Savings Account

• Free transactions at other Bank ATMs 
• Monthly interest payouts
• Issuance of Rupay Platinum Debit Card with enhanced insurance coverage, purchase protection, and exciting discounts and offers across leading brands in India
• Free and unlimited online money transfer through RTGS and NEFT
• Make online transactions, such as utility bill payments, book flights and hotels, and mobile recharges
• Access to funds through AU 0101 App or NetBanking 
• Make transactions up to Rs. 5,000 in India through the debit card without entering a PIN

IndusInd Bank Indus Delite savings account

• Issuance of Delights Debit Card for a minimal fee of Rs. 500
• Waiver of Delights Debit Card fee when the first salary of a minimum of Rs. 10,000 is credited
• Upto 5% cashback on Delights Debit Card spends 
• Insurance coverage of Rs. 1.5 lakh
• Get 1 free movie ticket in a quarter up to Rs. 250
• Pay bills, shop online, book cabs, and order food via the IndusMobile App

Utkarsh Bank BSBDA

• Issuance of Classic Rupay Debit Card with no annual maintenance charges for the first year
• Free unlimited ATM transactions across own bank ATMs within India
• Higher ATM withdrawal and purchase limits
• Access to Internet Banking and passbook facility 
• Unlimited cash deposit facility at bank branch
• Maximum free 4 withdrawals per month across all channels, including ATMs
• Free fund transfer through RTGS and NEFT 
• No account closure charges

RBL Basic Savings Account

• Free issuance of RuPay Debit Card with Rs. 50,000 ATM withdrawal limit and Rs. 30,000 POS withdrawal limit
• Avail 2 chequebooks of 40 leaves per year 
• Access to online bill payment services, mobile banking, phone banking, SMS banking, e-statements, and internet banking services
• Accidental and disability insurance coverage of Rs. 1 lakh
• Maximum free 5 cash withdrawals per month at domestic bank ATM

ICICI Bank BSBDA

• Free transactions at more than 15,000 ICICI Bank ATMs across India
• No initial deposit requirement to open account
• Free issuance of Rupay Debit Card with a spending and withdrawal limit of Rs. 10,000 per day
• Free cash deposits and withdrawal
• Free passbook facility
• Internet banking and Mobile banking available upon request

Axis Bank Basic Savings Account

• Free issuance of RuPay Debit Card with a daily withdrawal limit of Rs. 40,000 at ATMs and Rs. 1,00,000 for shopping
• Free passbook, monthly e-statements and SMS alerts
• Access to Internet banking and Mobile banking facilities
• Free cash deposits

YES Bank Smart Salary Advantage Account

• Interest rates up to 7.00% p.a. based on account balance.
• No minimum balance requirement.
• Free debit card and unlimited ATM transactions.
• Access to mobile and internet banking services.

DBS Bank digiSavings Account

• Interest rates up to 7.00% p.a. for balances between ₹4 lakh and ₹5 lakh.
• No minimum balance requirement.
• Instant account opening via mobile app.
• Free virtual debit card and unlimited ATM withdrawals

What are the Documents Required to Open Zero Balance Savings Account?

You will need to submit the below essential documents when opening a zero-balance savings account:

• Identification Proof: Aadhaar card, PAN card, driving license, etc. 
• Address Proof: Utility bills, rental agreements, etc.
• Business Proof (if needed): Partnership deed, GST registration form, etc.

You may have to submit a few additional documents depending on the bank you have chosen to open the zero-balance savings account.

Eligibility Criteria to Open a Zero Balance Savings Account

Before opening a zero-balance savings account, you need to fulfil some essential eligibility criteria, which are as follows:

• You must be a minimum of 18 years of age.
• You should have Indian citizenship.

You should note that these eligibility criteria might vary depending on the bank that you have chosen to open your zero-balance account with.

How to Open a Zero Balance Savings Account Online?

Once you select the best zero-balance savings account, follow the below simple steps to open the account online:

Step 1: Visit the official website of the bank and select the option of zero balance savings account.

Step 2: Move to the application form to open this type of account and fill it out accurately.

Step 3: Upload scanned copies of the KYC documents and other required documents.

Step 4: Review the application form to ensure that there are no mistakes, and finally, click on the ‘Submit’ button.

The representative from the bank will verify your application and then process your request to open the account.  

Benefits of Zero Balance Savings Account

• Zero balance accounts offer numerous free services such as free cash and cheque deposits as well as a free passbook. 
• No minimum balance is required to be maintained in your bank account. 
• You can withdraw the entire amount from your zero balance account when you need money without having to pay a penalty fee.
• You can easily make online transfers from this type of bank account using NetBanking. 
• A zero-balance bank account offers you various additional benefits, such as debit cards, having a safe deposit locker at nominal charges, etc.
• The interest you will earn upon depositing in a zero-balance savings account is somewhat similar to a regular savings account. 
• A zero balance account offers startups and small businesses with limited money to access banking services without the burden of maintaining a minimum balance. 

What is the Closing Procedure of Zero Balance Savings Account?

You cannot close your savings bank account online. To complete the closing procedure of a zero-balance savings account, you need to visit the physical branch of the bank and follow the steps below:

Step 1: Visit the nearest branch of the bank where you have your account.

Step 2: Request for the account closure form and fill it out with accurate details.

Step 3: Cross-check the data entered, mention your reason for closing your account and sign it.

Step 4: Submit your chequebook, passbook, debit card and Xerox copies of your ID proofs.

Step 5: Pay any closure charges applicable and close your account. 

Zero balance savings accounts are ideal for individuals who want to manage their finances without worrying about maintaining a minimum balance. By comparing features, interest rates, and withdrawal limits across top banks, you can choose the best zero balance savings account that suits your financial goals. 

Related Articles:
1. What is Salary Account?
2. Bank Current Account
3. Savings Account