How to Open Zero Balance Bank Account?

It is very important to talk about how to open a zero balance account, because zero balance account is such a type of account, which does not have to pay the minimum amount to open it and the minimum balance in the account has to be maintained . There is no need. In today’s time zero balance account can be opened in any bank, and all kinds of banking facilities can be availed. If you want to open Prime Minister Zero Balance Account , then this article is very important for you, in this article detailed information has been given on how to open Zero Balance Account . That is, how to open a zero balance account and what documents are required to open a zero balance account .

Benefits of Opening Zero Balance Account

1. There is no minimum amount to be deposited while opening the account.
2. There is no need to maintain minimum balance in the account.
3. Under overdraft, the account holder gets the facility of taking loan.
4. Passbook and RuPay Debit Card are available free of cost for the account.
5. Netbanking and mobile banking facilities are also provided free of cost.
6. Benefits of different types of government schemes are available.

Eligibility to Open Zero Balance Account

1. The applicant must be an Indian citizen.
2. Age should be 18 years and above.
3. Should be a valid document certified by the government.
4. There should be a document of the parent along with the children.

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Documents Required to Open Zero Balance Account

1. Passport size latest photograph.
2. Identity proof and residence proof.
3. PAN Card and Electricity Bill.

How to open zero balance account?

Zero balance account can be opened offline and online in all banks, the process of opening the account is almost the same. But when it comes to opening an account, most people prefer to open a zero balance account in SBI, because SBI is the most famous bank in the country, and there is little chance of losing money in it. That’s why let’s know how offline and online zero balance account can be opened in SBI .

How to open offline zero balance account in SBI?

1. Have to visit the nearest bank branch of SBI.
2. Zero account opening form will have to be asked from the branch employee.
3. After filling the correct details in the form, the necessary documents will have to be attached.
4. The joining form has to be submitted to the branch employee.
5. Branch staff will open the account after checking the attachment form.

How to open online zero balance account in SBI?

1. Online account in SBI can be opened easily through Yono App .
2. Install Yono App from SBI’s official website or from Google Playstore .
3. Allow all permissions on opening Yono App , and select Digital Saving Account or Insta Saving Account.
4. After choosing the type of account and filling some basic information, click on the submit button.
5. Once you have selected Digital Saving Account, you will have to visit the nearest branch of State Bank or you can open an account through Video KYC.
6. There is no need to go to the bank branch if you choose Insta Saving Account. The account will be verified using OTP based e-KYC.

(Note: – Similarly, without going to the bank, you can open online zero balance account in other banks through its official website or app )

FAQ

What are the documents required to open a zero balance account?

Aadhaar card and PAN card are required to open a zero balance account.

How much money can be kept in zero balance account?

You can keep as much money as you want in a zero balance account. But the limit of keeping money in zero balance account of some banks is fixed.

How much interest is available in zero balance account?

Zero balance account offers interest ranging from 2.75% to 3.50%.

In which banks zero balance account can be opened?

Zero balance account opens in almost all banks.

Which is the best bank to open zero balance account?

The best banks to open a zero balance account are State Bank of India, Punjab National Bank, Bank of Baroda, Union Bank and other public sector banks.