Best Zero Balance Savings Account Of August 2022

A Savings account is the basic banking facility opted for by people throughout the world. In India, multiple banks offer this facility with attractive and distinct features to engage their customers. Amongst all the features of a saving account, the zero balance saving account is regarded as the most effective when it comes to attracting customers.

Some notable banks started offering this feature as a result of the government’s initiative to provide bank accounts to all the citizens through the Pradhan Mantri Jan Dhan Yojana. This blog provides information on the top bank zero balance account in the country.

What is Zero Balance Saving account?

A zero balance saving account is a special type of financial account where the customers don’t need to maintain a minimum balance like other accounts. The banks invented this account type to help people save money without the stress of maintaining a minimum balance or paying a fine for a low account balance.

In recent years, the popularity of the zero balance saving account has increased tremendously. Therefore, the top bank zero balance account provides excellent features and interest rates to the owners of these accounts.

Top Banks Zero Balance Account

The interest rate of the zero balance saving account varies with the bank. The following table provides information for the top banks and the interest rate they offer for zero balance accounts:


Bank  Interest rate
RBL Digital Saving Account 5-6.75%
HDFC Basic Savings Bank Deposit Account 3.50-4%
IDFC Pratham Savings Account 6-7%
Kotak Mahindra Bank 4-6%
State Bank of India 3-3.25%
Axis Bank Basic Savings Account 3.50-4%


Features of Top Zero Balance Saving Account

Before opening a savings account, it is crucial to know the features offered by the bank because it helps in determining the benefits a customer gets. Below are the features of the top bank zero balance account:

  • RBL Digital Saving Account:
  • 2 free cheque books each financial year.
  • Free RuPay debit card with a withdrawal limit of ₹30,000 for POS and ₹ for ATM.
  • Unlimited free withdrawal at RBL bank’s ATM. 


  • HDFC Basic Savings Bank Deposit Account
  • Free passbook facility and RuPay card.
  • 4 free cash withdrawals from an ATM every month.
  • Free account statements through emails.
  • People with a savings or salary account in another bank are not eligible for this account.
  • Employees of organisations that have salary agreements with HDFC bank can open this account. 

  • IDFC Pratham Savings Account
  • Availability of mobile and internet banking.
  • Free passbook and chequebook
  • Free debit card

  • Kotak Mahindra Bank
  • This account can be opened online through video KYC.
  • Customers of this account can use the mStore for online shopping.
  • Customers get a free virtual debit card in this account.
  • It facilitates the scan and pay option to customers.
  • Customers of this savings account get the benefit of money transfer through RTGS and NEFT.


  • State Bank of India
  • Availability of free debit card.
  • Requirement of basic documents for KYC purposes.
  • Four free cash withdrawals from the ATMs of other banks.
  • Unlimited free cash withdrawals with SBI ATMs.

  • Axis Bank Basic Savings Account
  • Free RuPay card.
  • Maximum of four free cash withdrawals every month from ATMs.
  • Cash deposit limit of ₹ 10,000 


A saving account is a primary tool for starting the maintenance of one’s finances. However, many people prefer to have a zero balance saving account because it does not have a cap on the minimum balance requirement. In addition, it offers many features like competitive interest rates, debit cards, cheque books, etc. If you want to open your zero balance saving account, look for the top bank zero balance account and interest rates offered by the bank and choose the one that meets your requirements.

Leave a Reply

Your email address will not be published.