The current Modi Government is taking all the steps for people of India to cover them under the banking system. Jandhan Yojana, Payments Bank and now Basic saving bank account for middle and lower-middle-class people of India. It is due to the current government that we are able to open the zero balance saving accounts without maintaining any minimum balance for the month or quarter.

These bank accounts slightly differ from the regular saving accounts. For zero balance saving accounts, you don’t have to maintain any minimum balance. The bank provides ATM cum debit card for free of charge.

The ATM/debit card doesn’t even have any annual maintenance fees. You can deposit and withdraw cash as you do with your regular savings accounts. The bank cannot charge you for the account reinstate charges even if you do not use it for some time.

Zero balance saving accounts are also called no-frills accounts which provides lesser facilities than the regular savings accounts. Let’s compare zero balance saving accounts vs regular saving accounts to have a clear idea of whether you should go for zero balance saving accounts or not?

Regular Savings Account Zero Balance Saving Accounts
Offers high deposit and withdrawal limits Offer limited deposit and withdrawal limits
Full KYC is required to open the account Only one proof can be submitted to open the account
Maintenance of the minimum balance is necessary No minimum balance is required
Annual charges for ATM/debit card Free ATM/debit card forever
Useful for day to day financial transactions Useful for occasional use
Can be open at any branch of the bank Limited branches are offering this account
Can have a deposit of high amount Maximum Rs. 100000 can be deposited in a year
No capping on monthly withdrawal Rs. 10000 capping on a monthly withdrawal
A high number of free ATM transactions Less number of free ATM transactions


Still, if you have any question related to zero balance bank accounts, you can check this FAQs for further detailing on this.

Top Zero Balance Saving Accounts

Now let’s dig deep into these zero balance saving accounts and compare their features and benefits.

Kotak 811 Saving Account ∗∗∗∗

kotak 811Kotak 811 is the new age bank account. Instant account opening and fully operated through a mobile device. It is a digital bank account and can be opened from the comfort of your home. There is no minimum balance required. You can earn up to 6% interest per annum, transfer funds online through a mobile app. It also provides a virtual debit card so that you can shop online without any difficulties.

The 811 Limited KYC account comes with the instant account opening through a web portal or by installing a mobile app. This account is meant for a single user, you cannot have a joint account. To check the different charges click here.


  • Instant account opening via a web portal or mobile app
  • Offers money deposits and withdrawals
  • You can do online transactions
  • Free virtual debit card
  • No minimum account balance required
  • Offers Auto Sweep facility for doing FD
  • Scan and pay through QR code
  • Online shopping and transactions


  • You must be 18 years old and Indian resident
  • Aadhaar card
  • PAN card
  • Only individual accounts are allowed, no joint account are offered

ICICI Bank Basic Savings Account ∗∗∗∗

icici bankICICI Bank basic savings account is the small banking account with zero minimum balance. You don’t have to maintain any minimum balance in this account. This account comes with some basic features like money deposits and withdrawal, internet banking, free debit card and much more. The account can be opened instantly and comes with tons of features. To check the fees and charges click here.


  • No minimum account balance
  • Free debit card
  • Online transactions through internet banking
  • Money deposits and withdrawals
  • Free Passbook facility
  • Free cheque book


  • Indian resident
  • Aadhaar card and PAN card
  • Identity proof and Address proof

HDFC Bank BSBDA Small Account ∗∗∗

HDFC zero balance saving accountLike ICICI Bank, HDFC Bank is also offering basic saving bank deposit account (BSBDA). You don’t have to maintain a minimum balance. The account offers money deposits and withdrawals like another regular bank account. But it comes with some limitations like restriction on the monthly withdrawal transactions. It offers free online banking facility and also provides the free debit card.

To check the fees and other charges please click here.


  • Free Rupay debit card
  • 4 free withdrawals per month
  • Access to a wide network of ATMs across the country
  • Free passbook
  • Free lifetime bill pay
  • Free insta query facility
  • Free account statement on e-mail


  • Resident Indian
  • Valid ID proof and Address proof
  • PAN card and Adhaar card
  • You must not have any other bank account with HDFC bank

DigiBank by DBS ∗∗∗∗∗

digibankDigiSaving account by DBS is another great zero balance saving accounts for doing banking from the comfort of your home. You don’t have to maintain minimum balance like other banks. The account provides basic banking facility like money deposits and withdrawals, internet banking from a web browser and mobile app. It offers as high as 7% interest on your deposits. Along with basic banking facility, you can purchase insurance from the same bank account without any hassle.

You can also pay your credit card bill payment for selected credit cards from the saving account. Transfer money through UPI facility. The account also helps you to create wealth by investing your idle money into mutual funds. You can pay your utility bills through Bharat bill pay. Check the fees and charges here.


  • Zero balance saving accounts
  • Paperless account opening
  • Offers up to 7% interest on deposits
  • Free virtual debit card
  • Free internet banking facility
  • Pay your credit card bills
  • Transfer money through UPI
  • Invest in mutual funds
  • Pay utility bills through Bharat Bill Pay
  • DigiBucks reward program
  • Discount deals and offers


  • Resident Indian
  • Identity proof and Address proof

Abacus Digital by RBL Bank

rbl bankAbacus by RBL bank is also a zero balance saving accounts which offers all the basic features of the bank like money deposit and withdrawal, internet banking, ATM cash withdrawal and much more.

It offers up to 5% interest rates for deposits. There is a monthly minimum balance requirement of Rs. 5000, but you can get rid of that by doing a SIP for just Rs. 2000/month.

So it is not completely zero balance saving accounts.


  • Unlimited free ATM transactions
  • Free debit card
  • Do SIP of Rs. 2000 to get rid of the minimum balance


  • Indian resident
  • Aadhaar card and PAN card


There are many banks who are offering zero balance saving accounts, but not all are the same in terms of the features and benefits they are providing. As per my opinion, DigiBank by DBS is one of the best zero balance accounts as it provides higher interest rates. Not only that, but it also provides other unique features like budgeting, wealth creation, credit card bill payments.

Below is the summary of the top zero balance saving accounts providers in India.

zero balance saving accounts


Please enter your comment!
Please enter your name here