Ready for your Zero-Balance Account opening online? The good news is that you can now open an online Zero-Balance Account with minimal fees. This account has no minimum balance requirement. However, you will need to pay a small amount as a Debit Card fee and fund your Zero-Balance Bank Account with an initial funding amount. Here are some frequently asked questions:

What is a Zero-Balance Savings Account?

A Zero-Balance Savings Account is a type of Bank Account where the account holder does not need to maintain a minimum balance. It offers similar features to a Regular Savings Account without this burden. Zero Balance Account opening is ideal for managing finances without worrying about low-balance penalties.

What are the features and benefits?

The Zero-Balance Savings Account provides a range of features and benefits to enhance your banking convenience. There is no minimal balance requirement. You can enjoy banking benefits without maintenance fees. You receive attractive cashback offers on purchases from top brands, as well as fuel, dining, and entertainment.

Enjoy exclusive deals on e-commerce platforms with complimentary Insurance coverage and access to innovative services, such as Video KYC, for a seamless experience.

How to open this account?

Online Saving Account opening is easy if you follow a few steps. Start by entering your PAN and Aadhar Card details. Complete the online application form with the necessary information. Fund it with an initial deposit amount and complete the Video-KYC session. Once approved, your account will be activated. You can start banking immediately and enjoy the convenience of zero-balance requirements.

Will you get a Debit Card upon account opening?

You will receive a Debit Card upon opening a Zero-Balance account. However, you can also opt in or opt out of the feature if you wish to. Some banks may charge a Debit Card fee with a Zero-Balance Account. You can use this card at ATMs for cash withdrawals or pay online and at POS terminals.

How to choose the best bank to open this account?

When choosing the best bank to open a Zero-Balance Savings Account, consider factors like:

• Fees and features: Select a bank that charges low maintenance fees and offers attractive features.
• Online account opening: Hunt for an easy and 100% online Zero-Balance Account opening process.
• Perks and offers: Consider banks that provide offers, cash back, and complimentary services.
• Digital Banking: Ensure the bank offers a user-friendly Online Banking platform with accessible banking services for convenience.
• Branch availability: Check if their physical branches are accessible for in-person banking.

Conclusion

Using the Zero-Balance Account is convenient. You can utilise it for fund management through various banking services, grow your savings with competitive interest rates, book Fixed Deposits with the bank, and enjoy many more benefits.