Question: Who Can Open Zero Balance?

Can I open a bank account with no money?

Can you open a bank account with no deposit or minimum balance.

If you’ve been following along so far you probably know that yes, you can open a bank account with no money.

You can also do this without adhering to a minimum balance requirement.

Yet, not all bank accounts are created equal..

What are the disadvantages of zero balance account?

Cons of opening a zero-balance savings account:Only residents of India are eligible to open a zero-balance savings account. … Since the zero-balance savings account can be opened with minimum documentation, at no point in a financial year can the total credit in the account exceed Rs. … At no point can the balance in the zero-balance account exceed Rs.More items…•

Can I have two zero balance account?

The zero balance account can be opened in any bank. … As a zero-balance account holder, one is not eligible for opening any other savings bank deposit account in that bank. It means one can have either a savings account or BSBD account but not both of them.

Which bank saving account is best?

Here are some of the best high interest savings accounts in Malaysia.Standard Chartered Privilege$aver.RHB Smart Account/-i.OCBC 360.UOB Stash.Hong Leong Bank Pay&Save Account.Alliance SavePlus Account.UOB One Account.OCBC FRANK Account.More items…•

Which bank account is best?

8 Best Zero Balance Savings Account In IndiaIDFC First Bank Pratham Savings Account. … YES Bank Smart Salary Advantage. … IndusInd Bank-Indus Online Savings Account. … DBS-DigiSavings. … Kotak Mahindra Bank-811 Digital Bank Account. … HDFC Bank – Basic Savings Bank Deposit Account. … SBI – Basic Savings Bank Deposit Account. … Standard Chartered Basic Savings Bank Deposit Account.

Which bank is best for zero balance account 2020?

Top Zero Balance Savings Account 2020Top Zero Balance Savings AccountAccount NameInterest Rate (up to Rs 1 lakh)IndusInd Bank Indus Online Savings Account4.00%Standard Chartered Bank Aasaan3.00%HDFC Bank BSBDA3.00%5 more rows•Jan 21, 2020

Can I open zero balance account online?

Savings Account – Open Online Zero balance Digital Savings Bank Account | Kotak 811. Open Kotak 811 zero balance savings account without any paperwork. save as well as grow your money with its varied investment offerings. The account also lets you transfer funds, pay bills and do more easily.

What is the limit of zero balance account?

8) SBI zero balance savings account allows a maximum of 4 cash withdrawals free of cost in a month, including ATM withdrawals at own and other bank’s ATMs. 9) For SBI zero balance savings account, basic RuPay ATM-cum-debit card will be issued free of cost and no annual maintenance charge will be applied.

How do I check my zero balance?

This facility is available to all the customers who have registered their mobile number with the bank. Ways to check your balance. Give a missed call on a toll- free number 1800 180 2223 or A missed call to the tolled number 0120-2303090 to get back an SMS with your current balance.

Which bank is safest in India?

List of Best, Safe Banks in India1) HDFC Bank. If market confidence is a measure of the soundness of a Bank, then HDFC Bank takes the cake. … 2) State Bank of India. … 3) ICICI Bank. … 4) AXIS Bank. … 7) Kotak Mahindra Bank, IndusInd Bank.

What is minimum balance in SBI?

In March this year, SBI had announced that it will waive charges for non-maintenance of average monthly balance (AMB) for all savings bank accounts. Earlier, SBI savings bank customers had to maintain average monthly balance of ₹3000, ₹2000 and ₹1000 in metro, semi urban and rural areas respectively.

What is the easiest bank account to open online?

1. Choose a Bank or Credit Union with $0 Deposit Req’sBarclays Online Savings.Chime.Discover Online Banking Cashback Debit.Credit Unions.Wells Fargo Opportunity Checking®BBVA Compass Easy Checking.Radius Bank Essential Checking.