INSUBCONTINENT EXCLUSIVE:
Zero balance account in SBI: BSBD account can be opened by any individual by taking up KYC verification.State Bank of India (SBI) offers a
special type of savings bank account, known as the basic savings bank deposit or BSBD account
A zero balance savings account, the BSBD account does not require the customer to ensure any particular balance
However, withdrawals from this account are limited
The BSBD account - offered by SBI - comes with a free debit-cum-ATM card and a passbook without any charge, according to SBI's corporate
savings accounts in India Post Payments Bank)Mode of operationOne can open SBI's BSBD account singly, jointly, or on an either or survivor
lakh in their savings bank accounts earn interest at the rate of 3.50 per cent, according to the SBI website.BenefitsA basic RuPay
ATM-cum-debit card is issued free of cost and no annual maintenance charge is applied
The receipt/ credit of money through electronic payment channels like NEFT (National Electronic Funds Transfer) /RTGS (real time gross
The deposit/ collection of cheques drawn by central/ state governments is also free for holders of such account
There is no charge on activation of inoperative accounts and closure of accounts, according to SBI's website.Withdrawal limitA maximum of
4 withdrawals in a month is allowed in case of a BSBD account, including ATM withdrawals at own and other bank's ATMs and transactions
through other mode including RTGS/NEFT/clearing/branch cash withdrawal/transfer/internet debits/standing instructions/EMI, etc
No further customer debits are allowed during the month, according to SBI's website.ConditionThe customer cannot have any other savings
If the customer already has a savings bank account, the same will have to be closed within 30 days of opening a BSBD account, according to
