State Bank of India (SBI) offers zero balance savings accounts, making banking accessible to all. These accounts come with no minimum balance requirement, making them ideal for students, low-income individuals, and those who want different banking solutions.
SBI provides multiple zero-balance account options, including Basic Savings Bank Deposit Account (BSBDA) and Jan Dhan Yojana Account, each with unique features.
A zero-balance account with SBI is simple and easy to use. Users who open this kind of account are not required to keep a minimum balance. Customers are free to deposit any amount that suits them. Also, there is no limitation on the upper limit. You can use this account with zero balance, unlike other savings accounts.
In order to be eligible for an SBI zero-balance account, you need to meet the following requirements:
Here are the required documents for opening a zero-balance account:
To open a zero-balance account in SBI, you can apply for both online and offline:
Online Process
Offline Process
These rules must be followed by SBI account holders who have a zero-balance account with the bank:
There is no daily withdrawal limit on an SBI account with zero balance. Only 4 times cash withdrawals are permitted per month for zero balance account holders.
There is no maximum balance limit for customers who open a zero-balance account with SBI. The Basic Savings Bank Deposit Small Account (BSBDA) has a balance limit of Rs.50,000, whereas the Savings Account for Minors has a maximum amount of Rs.10 lakhs.
Yes, you can start an SBI account with zero balance both online and offline.
Customers who fail to maintain a minimum balance are not charged by SBI and SMS fees have also been removed.
For students under the age of 18, SBI provides Saving Account for Minor. Any zero-balance account can be opened with SBI by students who are at least 18 years old. The zero balance accounts offered by SBI are quite useful. Since there is no requirement to keep a minimum balance in the account, students are free to fulfill their demands and expenses.
Withdrawals from an SBI account with zero balance are unlimited each day. Only four cash withdrawals are permitted from the account each month.
For an SBI zero balance account, there is no upper limit on balance. A savings account for minors can have a maximum balance of Rs.10 lakh. The basic savings bank deposit small account (BSBD) has a balance of Rs.50,000.
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