HDFC Zero Balance Account Opening Online

HDFC bank offers various types of Financial Products and services to people, and one of them is Zero Balance Savings Account. You can have a savings account in HDFC bank without maintaining the minimum balance in it. Read More to know more about this account, its opening process and other important details.  

What is an HDFC Bank Zero Balance Account?

HDFC Bank has designed an HDFC Bank zero balance account for people who do not want to keep a minimum balance in their bank account. It has different features and advantages, making it an easy and accessible banking choice, especially if you do not always have a lot of money in your account. The HDFC Bank provides a 3.5% p.a. interest rate for zero balance accounts, up to Rs. 50 lakhs. If you have more than Rs. 50 lakhs in your account, the interest rate increases to 4% p.a.

How to Open an HDFC Zero Balance Account Online?

Follow the steps outlined below to perform the HDFC zero balance account opening online process:

1. Go Online

Visit the official website of HDFC Bank using your mobile phone or laptop. Find the option to open an HDFC zero balance account and provide necessary details like your name, date of birth, mobile number, email address, etc.

2. Submit Your Documents

When registering your account online, you need to submit certain documents. Keep them handy while applying online. You might need to take pictures of your documents and upload them during the online account opening process.

3. Complete Video KYC

You can now complete your KYC online via a video call by granting access to your location, camera, and microphone on your laptop or mobile phone. Click on the 'Video KYC' button to finish opening your account.

4. Verification and Activation Process

After reviewing your details and documents, HDFC Bank will verify them through online channels within 2-3 business days. Upon verification, you will receive activation and login details via email or SMS to access your online banking account. Within 15-25 days you can expect to receive your debit card. 

5. Access Your Account

Once you receive your customer ID and account number, you can transfer and deposit your money. By logging in to Net Banking, you can create a new password. 

After your account creation, you can enjoy the convenience of safe online banking services, including cash withdrawals without using your debit card.

Types of HDFC Bank Zero Balance Accounts

The following is a list of different types of HDFC Bank zero balance accounts:

• Basic Saving Bank Deposit Account (BSBDA)

It is a type of savings account which does not require you to maintain any minimum balance. With BSBDA, you can avail several banking facilities easily across various ATMs and branches.  You get free passbooks, a debit card, 25 cheque leaves, and email statements.

• Salary Account

Companies open salary accounts for individuals to distribute their employees’ salaries in an organised way. You do not need to keep a minimum balance in this account. On payday, the bank takes money from the company’s account and puts it into yours.

Benefits of HDFC Bank Zero Balance Account

Here are the benefits you can enjoy with an HDFC Bank zero balance account:

• No minimum balance required: You will not face any charges or penalties for not maintaining a minimum balance in the account.
• Convenient transactions: You can access all banking services, including bill payments, money transfers, and online transactions in a hassle-free manner.
• Mobile and Internet banking facility: You can easily manage your account, check your account balances, and view statements using mobile and net banking services.

Eligibility Criteria to Open an HDFC Bank Zero Balance Account

To qualify for a zero balance saving account in HDFC, you must fulfil the following eligibility criteria:

• You must be at least 18 years old and a resident of India.
• KYC documentation or completion of Form 16 is necessary.
• You must not hold a zero-balance account with any other bank.
• Any existing savings account with HDFC Bank must be closed.
• If you are a minor aged 10 years and above, you can open a self-operated minor account.

Documents for HDFC Bank Zero Balance Account

You need to submit the following documents to open an HDFC Bank zero balance account:

• Identity Proof - Aadhaar card, PAN card, passport, ration card, etc.
• Address Proof - Voter ID card, passport, driving licence, Aadhaar card, etc.
• A filled-out HDFC Bank zero balance account application form.
• Your recent passport-size photographs.  
• Proof of employment.

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