Top Zero Balance Savings Account 2020

Given below is the list of top zero balance savings accounts provided by different banks in India along with their rate of interest. It is to be noted that below mentioned are the interest rates as on 26th December 2019.

*The customers holding ASAP Instant Savings Account with Axis Bank have the privilege to earn higher interest rates through the auto FD features when the account balance crosses Rs.20,000.

*Floor price for all the Repo linked slabs is fixed at 4.0% p.a. The interest is calculated basis incremental balance slabs

Note: The customers holding ASAP Instant Savings Account with Axis Bank have the privilege to earn higher interest rates through the auto FD features when the account balance crosses Rs.20,000.

Features of ASAP Instant Savings Account

• You can open Axis ASAP account by downloading the Axis Mobile App or by applying online & registering your Aadhaar, PAN & other basic details
• Unlimited NEFT/ RTGS with Axis Mobile app
• You can earn higher interest rates through the auto FD feature when your account balance crosses Rs 20,000
• 10% cashback every month on BookMyShow
• Get 3x eDGE reward points with your Online Rewards physical debit card

Features of Pratham Savings Account

• Pratham Savings Account is a zero balance that comes with the privilege of unlimited ATM withdrawals
• You can make quick transactions at any micro ATM
• Get free access to internet and mobile banking
• Pay online bills hassle-free and get free mini statement and know about account balances anytime and from anywhere
• You can apply for this account using your Aadhaar Card at the nearest bank branch

Features of DigiSavings Account

• You can use your Aadhaar Card to open digiSavings account online
• The bank provides a range of products and services, such as up to 7% interest rate, e-Wallet feature, unlimited free ATM withdrawals from any ATM
• Free 24×7 fund transfers using UPI, IMPS, NEFT and RTGS
• Competitive interest rates on savings, fixed and recurring deposits
• Cashback of up to 10% on shopping from a wide range of online merchants

Features of YES Bank Smart Salary Advantage

• The account comes with no minimum balance requirement
• Free and unlimited transactions at any YES Bank ATM across the country
• Get monthly 5 free transactions at any other bank’s ATM in India
• A free Account with standard AMC & NSDL charges applicable
• The debit card offers accidental death cover, lost card liability and purchase protection

Features of Digital Savings Account

• No charges on non-maintenance of balance
• You can make unlimited ATM transactions
• Anytime banking with RBL Bank Internet and Mobile Banking
• Instant and paperless account opening
• You can open this account with your Aadhaar number and PAN number

Features of 811 Digital Bank Account

• This is a zero balance online savings account provided by Kotak Mahindra Bank with maximum of 6% interest rate
• Zero charges on non-maintenance of balance in the account
• Get the new 811 Virtual Debit Card which can be used to shop online
• You can transfer money online for free
• Pay your credit card bills online as per your convenience with Kotak 811

Features of Indus Online Savings Account

• You can open this savings account instantly by simply completing the online application
• This account can be opened by opting for a Premium Debit Card or by doing high Instant Funding
• Choose account number of your choice
• Free NEFT / RTGS / IMPS transactions on online channels
• Save Up to Rs.250 / month on Fuel Surcharge Waiver, Save Rs.3000 / year

*This rate will be equal to 25 basis points lesser than the repo rate

Features of Aasaan

• Open your account instantly using Aadhaar based eKYC
• Get an International Platinum debit card free for first year and enjoy 15% off across 600 restaurants
• Get free monthly account statements and free pass book
• Free NEFT / RTGS transactions
• Fee cash deposit, cash withdrawal, DD and PO

Features of Basic Savings Bank Deposit Account

• Free passbook facility for all individual account holders
• Enjoy free cash and cheque deposits at branches and ATMs.
• Access your account with your free Rupay Card
• Free lifetime BillPay, InstaQuery facility, email statements
• Easy banking with facilities including Net Banking, Phone Banking and Mobile Banking that allow you to check your account balance, pay utility bills, or even stop cheque payments via SMS

Features of Basic Savings Bank Deposit Account

• This account variant can be opened by any individual provided he or she has valid KYC documents
• No upper limit to maximum balance in the account
• Get a basic Rupay ATM-cum-debit card 
• The withdrawals can be done using withdrawal form at branches or through ATMs
• The account is available at all branches of State Bank of India

In a large market like today’s where there are thousands of products catering to all the different financial and banking needs of the individuals, it is important to choose the right type of Savings Account for future reference. There are lots of parameters that need to be considered while opting for the best Zero Balance Savings Account. You need to keep in mind certain important criterias including the interest rate, transaction charges, net banking facility, cash withdrawal and deposit limit, security of funds and more. All these features vary from bank to bank and hence need to be kept in consideration while choosing the best suited Zero Balance Savings Account to cater to all your financial needs.