Which bank is best for zero balance account?
Latest Interest Rate for Zero Balance Savings Account
| Bank | Name of zero-balance savings account | Interest rate |
|---|---|---|
| Kotak Mahindra Bank | 811 | 4% to 6% |
| Standard Chartered Bank | Basic Banking Account | 0.5% to 4.90% |
| HDFC Bank | Basic Savings Bank Deposit Account | 3.50% to 4% |
| Axis Bank | Basic Savings Account | 3.50% to 4% |
Which bank has a free savings account?
Compare the Best Free Savings Accounts
| Company | Minimum Deposit | ATM Access |
|---|---|---|
| Ally Bank Best Overall | $0 | 43,000+ Nationwide |
| Axos Bank Best for High Yield | $250 | 91,000 Nationwide |
| Synchrony Bank Best for ATM Access | $0 | 400,000+ Nationwide |
| Betterment Best for Long-Term Savings | $10 | No network, unlimited ATM fee reimbursements for checking |
Does IDFC have zero balance account?
Any resident of the country is eligible to open a 0 balance saving account with the IDFC First Bank. A Pratham savings account (BSBDA) at the IDFC First Bank, which is essentially a 0 bank balance saving account, can be opened by any resident individual either singly or jointly.
Which bank has zero fees?
Axos Bank, nbkc bank, Charles Schwab Bank, Discover Bank and Capital One 360 have checking accounts with no monthly fee and few other fees. However, there are other checking options available that may better suit your needs.
How can I get a free bank account?
1. Switch to an online bank
- Discover Bank. Discover Bank doesn’t charge a monthly maintenance fee, regardless of your account balance.
- Capital One 360. If you live near a Capital One branch and don’t want to switch to online banking entirely, consider opening a Capital One 360 Checking account.
- Ally Bank.
Does HDFC Bank have zero balance account?
HDFC Bank zero balance savings account can be opened by any resident individual who is not having an existing relationship with the bank and do not have complete KYC. HDFC Bank provides a Rupay ATM-cum-debit card to all the account holders of zero balance savings bank account.
Is Kotak 811 good?
Kotak 811 is very easy to open with the app. You need some documents handy, like PAN card, Aadhar card details. It is a zero balance account and you can carry on paperless transactions very easily. You can pay bills, shop and transfer money without even registering the other party.
Is SBI Yono a zero balance account?
Through SBI Yono has introduced SBI Insta Saving Account, a digital zero balance account to their customers that they can open through the SBI YONO mobile app or by visiting the SBI YONO web portal.
What is the 0 account?
A zero-balance account refers to a savings bank account, which has a zero balance in it and yet not charged. It is legally known as Basic Savings Bank Deposit (BSBD) account as per the Reserve Bank of India (RBI) guideline. The facility is provided by banks to encourage more savings among people.
What bank account can I open with no deposit?
Best Free Checking Accounts With No Minimum Deposit at a Glance
| Best Free Checking Accounts with No Minimum Deposit: April 2020 | ||
|---|---|---|
| Bank + Product Name | Fee | Minimum Deposit |
| Discover Checking | $0 | $0 |
| First National Bank Freestyle Checking | $0 | $50 online, $0 in branch |
| Simple Bank Checking | $0 | $0 |
What is a zero balance checking account?
Updated Apr 18, 2019. A zero balance account (ZBA) is a checking account in which a balance of zero is maintained by automatically transferring funds from a master account in an amount only large enough to cover checks presented.
What is SBI savings account?
Basic Savings Account With SBI. This account is to enable the common man to access basic banking facilities. A basic savings account cannot be opened if the person already has a savings account. If the person holds a savings account, it needs to be closed within 30 days of opening this basic account.
What is a zero bank account?
A zero balance account (ZBA) is a checking account in which a balance of zero is maintained by automatically transferring funds from a master account in an amount only large enough to cover checks presented. A ZBA is used by corporations to eliminate excess balances in separate accounts and maintain greater control over disbursements. Nov 18 2019