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SBI, HDFC Bank, ICICI Bank, Axis Bank, PNB Offer This Zero Minimum Balance Account. See Benefits Here

State Bank of India (SBI), PNB, ICICI Bank, Axis Bank, HDFC Bank offer zero minimum balance accounts.
State Bank of India (SBI), PNB, ICICI Bank, Axis Bank, HDFC Bank offer zero minimum balance accounts.

A basic savings bank deposit (BSBD) account does not require any minimum balance. This account that is generally meant for poor sections of society offers interest rates similar to normal savings bank accounts. A BSBD account does not require a customer to maintain a minimum monthly average balance also. Key banks like State Bank of India (SBI) and Punjab National Bank (PNB) offer the facility of opening this zero minimum balance account. Private sector lenders like HDFC Bank, ICICI Bank and Axis Bank also offer the facility of this account.

Given below are details and benefits of zero minimum balance account or BSBD account offered by SBI, HDFC Bank, ICICI Bank, Axis Bank and PNB:

Zero minimum balance account benefits under State Bank of India (SBI)

With this zero minimum balance account, SBI aims to encourage poor sections of society to start saving without feeling the burden of charges or fees, it says on its website sbi.co.in. This account can be opened by any individual provided he/she has valid KYC documents. KYC or know your customer helps banks verify their customers.
 

Opening of SBI BSBD account:
Withdrawal from SBI zero balance account:
Interest rates on SBI BSBD accounts:
Service charges of SBI BSBD account:
Zero minimum balance account benefits under HDFC Bank
Features of HDFC Bank BSBD or zero minimum balance account:
What is free under HDFC Bank zero balance
accounts?
Interest rates on HDFC Bank BSBD or zero minimum balance accounts:
Zero minimum balance account benefits under ICICI Bank
Offers of ICICI Bank for zero balance account holders
What ICICI Bank does not offer to BSBD account holders
Interest rates on BSBD or zero minimum balance account of ICICI Bank
Zero minimum balance account benefits under Axis Bank
Benefits of Axis Bank BSBD accounts
Additional benefits under Axis Bank BSBD accounts:
Interest rates offered on Axis Bank BSBD accounts
Zero minimum balance account benefits under Punjab National Bank (PNB)
Benefits for PNB BSBD account holders
Extent of transactions/ operation permitted under PNB BSBD accounts:
Facilities available for PNB BSBD accounts