Hey, there, buddy! How about a super bank a/c in India that doesn’t shake your wallet empty? That is where the exciting world of zero-balance bank account in India. a/c starts! But, let’s know zero a/c better before you start scratching your head.
Table of Contents
1: What’s the deal with zero-balance accounts?
Have you ever wished for a bank account that lets you chill out without the worry of losing a small balance? Well, the Zero Balance account is very similar. Here, you are not required to maintain a small balance. Not required to run after a magic number nor are you required to pay a penalty for losing that magic number. Targeted toward the salaried class of customers, these accounts are popular also because of the comfort this account gives, from managing the salary credits to emergency funds that you want to keep aside.
2: Top contenders in the zero-balance game!
Now let`s have a look at some of the top banks in India offering zero balance accounts.
RBL Bank:
Key features offered by this bank include free online banking and mobile banking as well as free ATM withdrawals as long as you use one of their ATMs (not shared with other banks). Be aware that if you use a different bank’s ATM, they may charge you a fee.
SBI Bank:
India’s largest bank also has a zero-balance account with the largest reach of all the banks at their ATMs. Internet banking and a large network of ATMs are also offered. However, transactions at SBI’s ATMs and their internet banking are not chargeable, while 8 transactions in a month- more than 5 at other bank ATMs – are not chargeable.
HDFC Bank:
The savings bank account of Axis Bank is a balance account, that has mobile banking and a huge ATM network. Yet one must also note that like SBI, after the free monthly transaction limit, charges may apply.
Remember: So these are a few examples, But these are not the ONLY ones. And before you come to a decision, you must do a little research. Take a look at the features of the 0 balance account, find out how you can make the best use of the account, and find out what charges might be levied to you, if any. Then take a decision.
3: Finding your perfect zero-balance match!
Your banking needs and habits will determine which type of zero-balance account is right for you. Consider the following factors:
- Small balance needs: This is odd for a zero-balance consideration, but a bank could have hidden the lowest balance requirements to drop bank charges. Before you sign up, make sure you check this out!
- Monthly charges: Make sure you study up on accounts. Some accounts are monthly which might cost you some money to have them. Some might not.
- ATM network coverage: Make sure the financial institution has ATMs near your work and home. You will be charged every time you use another bank’s ATM.
- Internet banking facilities: If you prefer banking online, make sure the account offers Internet banking features.
- Customer service: Having reliable access to customer support is very important. Research the bank’s reputation for customer service and check to see which customer support channels are available through the bank.
4: The final takeaway! off zero-balance bank account in India
With a little research and self-awareness, you’ll be able to find the zero-balance account that fits you best while grinning at your smartphone. After all, there’s no one-size-fits-all solution. Take your time and compare a few options before choosing the bank that best serves your financial goals!
