Every time you wish to open a savings account, you might have heard about a zero balance savings account. Do you know what is a zero balance savings account? It is a type of savings account where you are not required to maintain a minimum balance, i.e. your account balance can go down to Rs. 0 and it won’t attract any penalties.
It can be a difficult task to maintain a minimum balance in the account. A majority of banks in India keep a minimum balance limit of Rs. 5,000 – Rs. 10,000 per account to maintain. Such a requirement may become problematic for those of us who earn just enough to meet our requirements.
In such cases, a zero balance savings account is an ideal option. Discussed below are some of the top zero balance savings accounts in 2023 for Indian citizens. But first, let’s check out the interest rates of these zero balance accounts: