10 Best Zero Balance Saving Account Banks in India

Last Updated on July 8, 2025 – by Muskan Sinha

Multiple banks in India are providing citizens a facility of opening a zero balance saving account. A zero balance saving account does not require account holders to maintain a minimum balance in their account, making it an ideal option for people with irregular flow of income such as senior citizens, students and children.

Just like Kotak Mahindra bank – a popular 0 balance saving account bank, some well established banks offer zero balance account opening online with video KYC, no annual charge, unlimited withdrawals from ATM with minimum or no paperwork.

In these bank accounts, the account holders would not be subject to any penalty for keeping a low balance in their account, ensuring the flexibility and convenience of using the account. For your reference Kotak 811 online zero balance account offer basic facilities such as debit cards, ATM withdrawals, online transfers, and even provide account holders with attractive interest rates and digital access.

Here is the list of Top 10 banks that offer bank accounts at zero balance in India:

1. Kotak Mahindra Bank

Established in 1985 as Kotak Capital Management, the banking institution is a leading financial services provider in India. Kotak Mahindra Bank offers a zero balance account, named Kotak811 Savings Account. An individual can open this digital account with minimal documentation– just enter your details and get OTP verification.

You only need an Aadhaar and a PAN card to get started with your kotak zero balance account. Additionally, there is a 2.75% interest on the 811 account, with up to Rs. 250 cashback on UPI transactions.

For convenient kotak mahindra bank account opening, users can use the mobile app or website for full digital access. The kotak 811 account opening zero balance process is fast, fully online, and paperless.

Features & Benefits

• Interest rate – 2.75 to 3.25%
• Online VKYC
• Minimum documentation
• Online account opening
• No annual fees

2. Axis Bank

Axis Bank is the third largest private banking sector in India that provides multiple financial services to its customers. For an uninterrupted banking transaction, Axis Bank has initiated an 0 balance saving account by the name AMAZE. Customers can embrace the zero balance account opening online process with just their PAN cards and Aadhaar cards and enjoy the 2.50% interest rate offered on it.

Features & Benefits

• Debit Card benefits up to Rs 11,000
• No charge on domestic transactions
• No charge on using Axis Bank’s ATMs
• Free Debit Card and Chequebook
• 2000 Edge reward points for spending over Rs 20,000 per month

3. IndusInd Bank

The IndusInd Bank, a leading private sector bank was established in 1994 by Hinduja group. The bank provides customers an opportunity to open a zero balance saving account, known as IndusInd Delite, online through minimum paperwork and basic requirements. Customers can apply for the savings account with just their PAN Card and Aadhar card and register through online video KYC.

However, customers are required to pay a small debit card fee and also an initial funding amount which is Rs 10,000. With a 3-5% interest rate offered by the bank, the customers can enjoy a seamless banking experience.

Features & Benefits 

• 5% cashback on debit card spends
• Complimentary insurance coverage included with delights debit card
• Easy account opening
• Online VKYC

4. State Bank Of India

The State Bank Of India is a financial powerhouse providing multiple banking services to its customers including savings account, fixed deposits, personal loans, educational loans and more. Customers can apply for their Basic Savings Bank Deposit Account, an O balance saving account through their YONO app without leaving their house. SBI offers an interest rate between 2.70 to 3% along with some additional benefits.

Features & Benefits 

• No upper limit/ maximum amount
• Easy zero balance account opening online without pan card option through Aadhaar-based eKYC
• Free Rupay debit card
• Minimal documentation required – PAN card and Aadhaar card
• Same interest rate offered on zero balance and regular saving accounts

5. ICICI Bank

Established in 1994, ICICI Bank is India’s largest private sector bank providing multiple financial services to its customers through the years. You can open a zero balance saving account with the bank, named Basic Savings Bank Deposit Account (BSBDA), which is designed to help people save efficiently without worrying about the minimum balance requirement.

People can benefit from the 2.5% interest rate offered to them on this savings account. With minimal documents like Photo ID proof, address proof and Aadhaar card, people can easily open an account with them.

Features & Benefits

• No minimum monthly average balance required
• Offers a single or joint mode of holding
• No initial deposit required
• Free Rupay debit card and free passbook facility
• Access to 15,000 ATMs across India
• Internet and Mobile banking available on request

6. Yes Bank

Yes Bank is a private sector bank in India that fulfills the various financial needs of customers by providing them a wide array of financial services and digital solutions. Yes Bank provides zero balance accounts like the Basic Savings Bank Deposit Account and Smart Salary Account with free debit cards, digital access, and no balance penalties.

With an attractive 3% interest rate, customers can leverage their banking services to enjoy a hassle free experience. 

Features and Benefits 

• No upper limit on balance
• Free Debit card facility
• Access to Yes ROBOT virtual banking
• No monthly average balance requirement
• Minimal KYC documents required

7. HDFC Bank

HDFC is a trusted housing finance company in India offering a wide range of financial products to its customers such as savings accounts, salary accounts, debit cards, credit cards, fixed deposits, personal loans, wealth management and more. HDFC Bank offers an option to open zero balance saving account  through the Basic Savings Bank Deposit Account, requiring no minimum monthly balance and allowing access to digital banking and attractive interest rates.

Through this savings account, customers can avoid incurring a penalty for maintaining a low balance in their accounts. The zero balance account opening online process can be fulfilled with minimal documentation and avail the benefits of an attractive 3-3.50% interest rates.

Features & Benefits 

• No monthly average balance required
• No initial funding required
• Free debit card and passbook
• 4 withdrawals free per month
• Free lifetime Billpay and free email statements

8. Bank of Baroda

Bank of Baroda is one of India’s largest public sector banks offering various services such as retail banking, corporate banking, treasury services and more. The bank offers a variety of zero balance accounts such as bob lite saving account , bob Champ savings account and bob Bro saving account and offer attractive interest rates ranging from 2.75 – 3.35%. 

Features & Benefits of bob Lite savings account

• Free Rupay Platinum debit card. 
• No minimum balance charge.
• Free first passbook.

Features & Benefits of bob Bro savings account 

• Free NEFT/RTGS/IMPS/UPI on bob Bro savings account.
• No minimal balance requirement. 
• Free Rupay Platinum debit card. 
• Free cheque book. 
• Free SMS alert. 
• 100% concession in Demat AMC. 

Features & Benefits of bob Champ account

• No minimum balance requirement. 
• No charge on school fee payment. 
• Theme based Rupay credit card. 
• Internet banking facility available to applicants above 10 years of age. 
• Auto/Reverse sweep facility available. 

9. RBL Bank

Ratnakar Bank, popularly known as RBL, is a prominent and renowned private sector bank in India. It offers financial aid to people through its services such as personal, educational and home loans, wealth management, debit/credit cards, internet banking, treasury solutions and more. 

The bank provides customers a facility to operate a savings account without needing to maintain a minimum balance and incur any penalty for it through its zero balance savings account named, Go Account and Basic Savings Account. RBL offers attractive commissions up to 6.75% to people along with additional benefits, making it one of the best zero balance account opening online options.

Features & Benefits of Go Account 

• Free premium Go debit card. 
• Easy cash withdrawals. 
• Free credit report. 
• Built in insurance protection. 

Features and Benefits of Basic Savings Account

• Free Rupay Debit Card. 
• Free unlimited transactions at RBL Bank ATMs
• Free Par value cheques. 
• Easy digital banking services. 

10. Union Bank of India

The Union Bank of India is a popular public sector bank which provides a wide array of services to customers such as retail banking, digital banking, and many government schemes. Through the Basic Savings Bank Deposit Account, the customers can now enjoy the flexibility and convenience of banking services without having to worry about the minimum balance requirement in their account. 

With just an address proof and identity proof, you can opt for the zero balance account opening online easily and enjoy a 2.75-3.50% interest rate offered on your savings. 

Features & Benefits 

• Rupay Classic Debit Card
• Interest rate equivalent to general savings accounts
• No deposit limits
• No debit card or maintenance charges
• Rs. 25,000 ATM withdrawal limit

How to open zero balance savings account online?

1. Choose a bank that allows you to open a zero balance saving account online. Some popular zero balance account banks options include IndusInd, SBI, RBL and Kotak zero balance account. 
2. Go to the bank’s website or download its app.
3. Complete the form and upload required documents for KYC.
4. Some banks may require an initial deposit (which can later be withdrawn).
5. After successful verification, your account becomes active.

Benefits of Zero Balance Accounts

• No minimum balance penalty – Ideal for people with irregular income like students and pensioners.
• Simple documentation – Requires only Aadhaar, PAN, or address/ID proof.
• Free debit/ATM cards –  Most banks offer free debit card facilities to customers with no annual charges. There are also no limits to the number of withdrawals on most ATM cards. 
• Attractive interest rates –  Rates comparable to regular accounts.
• Full digital access – Mobile apps and internet banking available for convenience.

Conclusion

The zero balance account banks have made banking accessible and convenient for people with irregular or low income levels. Choosing a bank that offers this facility ultimately depends on your financial needs and goals. As per our recommendations, you can opt for the Kotal 811 savings account that provides the option of online bank account opening with video  KYC and minimal documentation. 

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