INSUBCONTINENT EXCLUSIVE:
A BSBD or basic savings bank deposit account is a type of zero balance savings account and does not require customers to maintain any
particular minimum balance
Major public sector lenders like State Bank of India (SBI) and Punjab National Bank (PNB) offer the facility of opening a zero balance
Private sector lenders like HDFC Bank and ICICI Bank also offer this facility
Customers get a number of facilities such as debit and ATM cards and internet banking with BSBD account.Key things about basic savings bank
either or survivor, former or survivor, anyone or survivor etc, said SBI on its official website -- sbi.co.in.Benefits of SBI's BSBD
account:Customers get a basic RuPay ATM-cum-Debit card free of cost and no annual maintenance charge is applied
The credit of money through electronic payment channels like NEFT/RTGS is free
There is no charge on activation of inoperative accounts and closure of account.Interest rates on SBI's zero balance account:For savings
deposits balance up to Rs
1 crore, the bank offers an interest rate of 3.5 per cent per annum
On savings deposits balance over Rs
or jointly, said the bank on its official website, pnbindia.in.Benefits of PNB's BSBD account:There will be no limit on the number of
deposits that can be made in a month, said the bank on its website
BSBD account holders will be allowed a maximum of four withdrawals in a month
However, the number of ATM withdrawals will be excluded in overall limit of four withdrawals in a month
no charge will be levied for non-operation/activation of in-operative BSBD accounts.Interest rates of PNB's zero balance account:On
50 lakh and above, PNB offers an interest rate of 4 per cent
On account balance of up to Rs
HDFC Bank BSBD account include zero balance and a free Rupay card, said HDFC Bank on its website - hdfcbank.com
It also issues a free passbook facility
50 lakh and above, HDFC Bank offers an interest rate of 4 per cent
On account balance below Rs
50 lakh, HDFC Bank pays an interest rate of 3.5 per cent.ICICI BankICICI Bank's zero balance account is available for Indian residents
passbook facility, Rupay card facility free of cost
Besides this, daily spending/withdrawal is Rs
50 lakh, ICICI Bank offers an interest rate of 3.5 per cent per annum
50 lakh, ICICI Bank offers an interest rate of 4 per cent per annum.
