Want To Open A Zero Balance Account?

Vivan Vatena

student in journalism | Posted on 4-Dec-2018

There are certain banks in India, like The State Bank of India, which offers Basic Savings Bank Deposit Account to the people of this country where the account which has been opened can be maintained without keeping any balance in it. This essentially means that there is no need to keep a certain amount of money as a minimum balance in the account. Under this scheme, there are no additional charges which are being imposed on the account holders. There are no limits set as far as the maximum deposit of money is concerned. Besides SBI, there are other banks in India that offer similar facilities, like Axis Bank and HDFC bank. However, there are certain deviations in terms of rules and procedures.

Letsdiskuss

As far as SBI is concerned, the process of opening a zero balance bank account is quite simple. The account holder needs to be 18 years old and an Indian resident with no tax liability. The applicant needs to have a valid Adhar Number as well as a Permanent Account Number or PAN along with a registered mobile number. Once these criterion are met one is eligible to open a zero balance bank account with SBI. The procedure is almost the same in case of other banks as well.

https://www.ndtv.com/business/sbis-zero-balance-savings-account-features-conditions-other-details-explained-1837855

image: www.google.com