Several banks in India offer zero balance savings accounts, often referred to as Basic Savings Bank Deposit Accounts (BSBDA). These accounts do not require a minimum average balance, making them ideal for students and individuals seeking hassle-free banking.
Popular options include:
- State Bank of India (SBI): Offers the Basic Savings Bank Deposit Account with no minimum balance requirement.
- Kotak Mahindra Bank: The Kotak 811 account is a popular digital zero balance savings account.
- Federal Bank: Provides options like Fed Selfie and BSBDA with nil balance requirements.
- Other major banks like IndusInd Bank and HDFC Bank also offer specific zero balance account variants.