Best 10 zero balance saving accounts in India 2023

Hello friends, today in this post I will share with you about the best zero balance savings account opening bank. This also includes their interest rates, zero balance savings account comparison, and ATM comparison. Also how to link UPI with Virtual ATM and how to start internet banking. Will tell you in which bank it is very easy to open an account.

A zero-balance account is a type of savings account offered by the bank in which the account holder is not required to maintain a minimum balance. This means that the account can be operated at zero balance without any penalty charges. Zero balance accounts are gaining a lot of popularity in India.

Especially among low-income groups and students who do not have regular income or people who may not be able to maintain a minimum balance in their savings account. The main advantage of a zero balance account is that it is not charged for the maintenance fee of the account. The charge is usually levied by the banks for not maintaining the minimum balance.

A zero balance account makes it an attractive one for those who want to avoid charges. Additionally, using a zero-balance account, you can transfer money through online banking facilities, ATMs, and mobile banking apps. To open a zero balance account, customers have to provide an Aadhaar card and PAN card documents.

List of Top Zero Balance Saving Accounts:-

1. Kotak Mahindra bank 811:-

Kotak Mahindra Bank 811 is a zero-balance saving account. Which you can open online sitting at home. There is no need to keep any minimum charge in this bank account and a high-interest rate of up to 4%. Along with this, they also provide free virtual debit cards. You can use it to keep online shopping, movie vouchers, etc. Opening an account with this bank is very easy. For this, you need to have a PAN card and an Aadhar card.

Best 10 zero balance saving accounts

2. IndusInd Bank Basic Savings Bank Deposit Account:-

IndusInd Bank’s zero balance saving accounts offer features such as free online transactions, no charges for non-maintenance of minimum balance, and a high-interest rate of up to 4%. IndusInd Bank Ltd is one of the new-generation private sector banks in India. The bank offers commercial, transactional, and electronic banking products and services. IndusInd Bank provides zero-balance saving accounts and maintenance saving accounts to their customers.

Best 10 zero balance saving accounts


  • Digital process.
  • Zero balance account.
  • Enjoy up to 10% off on Swiggy and up to 1000Rs. off on Bigbasket.
  • Get an interest of 4% p/a on a daily balance up to Rs.1 Lac.
  • Get an interest of 5% p/a on a daily balance above Rs.1 Lac and up to Rs.10 Lacs.
  • Get an interest of 6.00% p/a on a daily balance above
  • Rs.10 Lacs and up to Rs.100 Crores.

3. Fi saving account:-

Fi Money is a digital zero-balance saving account that provides a range of financial services to customers, including access to savings accounts and loans. The platform is designed to be user-friendly and accessible, with a mobile app that allows customers to manage their finances on the go. Customers can also earn cashback on purchases made with their Fi Money Debit Card. Fi Money is

Fi Money also offers a competitive interest rate and a savings account with no monthly fees. Customers can set up automatic savings plans to help them save money regularly.


  • Get a free Visa Platinum Debit Card.
  • Waived international transaction charges on Debit Cards.
  • Withdraw money from any Federal Bank ATM without charges.
  • You can make international transactions.
  • No minimum balance is required.
  • Get a 3.00% interest rate on your savings.
  • Free NEFT, and RTGS online transactions.
  • Get notified each and every time when you pay or get paid.
  • Get an instant Virtual Debit Card.

4. RBL Bank Digital Savings Account:-

RBL Bank’s zero balance savings account offers features such as free online transactions and no charges for non-maintenance of minimum balance.

5. AU Small Finance Bank:-

AU Small Finance Bank is an Indian Bank. AU Bank is headquartered in Jaipur (Rajasthan). AU Bank is started in 2017. AU Bank offers a wide range of financial products. AU with digital saving accounts. The fastest way to open a savings account. Easy to use. AU saving account with 0% maintenance charge. AU Small Finance Bank’s personalized account number and checkbook enhance security and ensure your money is safe.


  • Paperless process.
  • Secure banking.
  • Get an interest rate of 3.50% on a balance of less than 1 Lac. Get an interest rate of 5% on the balance of Rs. 1Lac to Rs.10 Lacs.
  • Get an interest rate of 6% on a balance of Rs.10 lacs to Rs.25 lacs.
  • Get an interest of 7% on the balance of Rs.25Lacs to 1 Crore. Digital Savings Account.
  • Extended banking hours up to 6 pm.
  • Feature-rich debit card.

6. ICICI Bank Basic Savings Account:-

ICICI Bank’s zero-balance savings account allows customers to withdraw money from ATMs without any charges and offers free online transactions.

7. Axis Bank Zero Balance Savings Account:

Axis Bank’s zero-balance savings account allows customers to earn interest on their savings and offers free online transactions


  • 100% Digital account opening
  • Get all the 250+ services online
  • No paperwork or branch visits
  • Virtual debit card instantly on account opening
  • E-Debit Card loaded with offers
  • On account, activation starts transacting securely via Debit card, UPI, NEFT, IMPS, and RTGS


  • 1% cashback on all online spends
  • Flat 10-15% cashback on & Flipkart for 6 months
  • Flat 20% cashback on Zomato & Tata 1mg via GRAB DEALS
  • Buy 1 Get 1 with E-Debit Card – Up to 20% Off on 4000+ partner restaurants

Fees & Charges:-

Debit card charges of रु590

8. Yes bank:-

Yes, the bank is an Indian bank. Yes, the bank’s headquarter is in Mumbai. It was founded by Rana Kapoor and Ashok Kapoor in 2004. It offers a wide range of financial products for corporate and retail customers through retail banking and asset management services.


  • Completely digital process.
  • No paperwork is required.
  • Yes, the bank also provides a shopping facility with a virtual debit card.
  • No charge for transactions on yes bank ATMs.
  • You will get a platinum Visa debit card.
  • Different saving accounts for different banking needs.

9. DBS Digibank e-wallet and Digital Savings Account: –

DBS Bank’s zero balance savings account offers a unique combination of an e-wallet and a savings account, with features such as free online transactions, no charges for non-maintenance of minimum balance, and a high-interest rate of up to 7%.

10. State Bank of India Basic Savings Bank Deposit Account:

State Bank of India’s zero balance savings account has no charges for non-maintenance of minimum balance and allows for up to four free withdrawals per month.

How to make UPI Using Virtual Debit cards

Here I will tell you how to create UPI. You can also create UPI with the help of your Virtual ATM card. You must open an account in this bank, and create a PIN for that ATM. You can generate your ATM PIN online or offline. You use PhonePe to make UPI.

  • Download the UPI-enabled mobile banking app from your bank or a third-party provider.
  • Register with your mobile number which is linked to your bank account.
  • Create a unique UPI ID (Virtual Payment Address or VPA) and link it to your bank account.
  • Set a UPI PIN to authorize the transaction.
  • To pay, select the “UPI” option and enter the payee’s UPI ID or account number and bank IFSC code.
  • Enter your UPI PIN to complete the transaction.


  1. What is a zero-balance savings account?

    A zero-balance savings account is a type of bank account that does not require a minimum balance to be maintained. It is a popular option for individuals who want to save money but cannot afford to keep a minimum balance in their accounts.

  2. Which banks in India offer zero-balance savings accounts?

    There are several banks in India that offer zero-balance savings accounts, including Axis Bank, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, and IDFC First Bank.

  3. What are the benefits of a zero-balance savings account?

    The main benefit of a zero-balance savings account is that it does not require a minimum balance to be maintained, which can be helpful for individuals who have limited funds.

  4. How do I open a zero-balance savings account?

    To open a zero-balance savings account, you will typically need to provide some personal information, such as your name, address, and identification documents. You may also need to provide proof of income or employment. You can open a zero-balance savings account either online or by visiting a branch of the bank in person.

  5. What are the interest rates offered by zero-balance savings accounts in India?

    Interest rates offered by zero-balance savings accounts in India vary depending on the bank and the account type. Some banks offer interest rates as high as 3-4% per annum on their zero-balance savings accounts.

  6. Can I have multiple zero-balance savings accounts?

    Yes, you can have multiple zero-balance savings accounts with different banks. However, it is important to keep track of your accounts and ensure that you are meeting the requirements to avoid any fees or penalties.

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