YES Bank Zero Balance Account

1. 24/7 Banking Assistant: YES ROBOT access is provided, which can help in checking the balance available in the account, completing recharges, transferring money, paying bills, and opening fixed deposits. 

1. Transferring Money: With the help of mobile banking and internet banking, funds can be transferred via NEFT. RTGD and IMPS can also be used to transfer money for free via mobile banking. 

1. Account Management: Funds can be tracked, account statements can be accessed, and transaction details can be checked easily. 

Eligibility Criteria 

The eligibility criteria that must be met in order to open a zero balance account with YES Bank are mentioned below: 

1. You must be an Indian resident. 

1. You must be at least 18 years old. 

1. Minors can open an account if they are 15 years and above. 

Documents Required to Open a Zero Balance Account with YES Bank 

The list of documents that must be submitted to open a zero balance account with YES Bank are mentioned below: 

1. KYC documents 

1. Address proof 

1. Passport-sized photographs 

1. Form 60 or PAN Card

1. Application form 

1. All documents must be self-attested 

1. Original documents must be shown at the time of verification 

Different Zero Balance Accounts Offered by YES Bank 

The various zero balance accounts  that YES Bank offers are mentioned below: 

1. Regular Savings Account 

1. Personal accident death cover worth Rs.15 lakh is provided. 

1. In a year, you can earn interest of up to Rs.40,000 that is tax-free. 

1. No minimum balance needs to be maintained. 

1. YES Digital Savings Account Limited KYC 

1. Average monthly balance need not be maintained. 

1. A virtual debit card is provided. 

1. Mobile banking and net banking options are provided. 

1. The process to open an account is simple. 

1. Banking process is simple and secure. 

1. Pradhan Mantri Jan Dhan Yojana (PMJDY) Account 

1. Accidental insurance cover is provided. 

1. A PMJDY RuPay Debit Card is provided. 

1. No minimum deposit needs to be made. 

1. Banking services are easy to access. 

Different Ways to Open a YES Bank Zero Balance Account 

A YES Bank zero balance account can be opened either offline or online and the processes are mentioned below: 

Offline 

1. Visit the nearest YES Bank branch. 

1. Carry all the relevant KYC documents. 

1. Meet the bank executive at the branch. 

1. Submit the application form, the documents, and passport-sized photographs. 

1. Once the documents have been verified, the account will be opened. 

1. The internet banking details and a debit card will be provided immediately. 

Online 

1. Visit the official website of YES Bank. 

1. Choose the savings account you wish to open. 

1. Click on ‘Apply Now’. 

1. Fill out the application form. 

1. Upload the necessary KYC documents such as PAN Card, proof of address, and proof of identity. 

1. A YES Bank representative will contact you once the verification has been completed. 

1. The account will be activated after the verification process. The account details and debit card will be sent to the registered address. 

UPI Transaction Limit 

1. Standard Transaction Limit: Rs.1 lakh. However, this can vary based on the policy of the bank. Usually, the limit ranges between Rs.5,000 and Rs.1 lakh. 

1. Specific Transactions: Rs.5 lakh per transaction. The amount is allowed for investments in IPOs, educational institution payments, hospital payments, and tax payments. 

Withdrawal Limit Per Day 

The withdrawal limit that is allowed per day is mentioned below: 

1. Value Limit per Month: Rs.1 lakh 

1. Free ATM Withdrawal: 5 every month 

1. Cash Withdrawal Fee: In India, Rs.21 is levied as a fee for every transaction. Outside India, the fee that is levied is Rs.120.