INSUBCONTINENT EXCLUSIVE:
Zero balance savings account: A BSBD account does not require a minimum or maximum limit.A basic savings bank deposit (BSBD) account does
not require any minimum balance
A BSBD account is a type of zero balance savings account and does not require customers to maintain any particular minimum average balance
Key banks like State Bank of India (SBI) and Punjab National Bank (PNB) offer the facility of opening this zero balance account
Private sector lenders like HDFC Bank and ICICI Bank also offer the facility
Customers get a number of facilities such as debit and ATM cards and internet banking with BSBD account.Zero Balance Savings Account:
Facilities and interest rates of SBI, Punjab National Bank (PNB), HDFC Bank and ICICI Bank on BSBD accounts in detail:State Bank of India
(SBI):One can open SBI's BSBD account singly, jointly, or with either or survivor, former or survivor, anyone or survivor etc
facility, said SBI on its official website -- sbi.co.in.Benefits of SBI's BSBD account:A basic RuPay ATM-cum-Debit card will be issued
free of cost and no annual maintenance charge will be applied
The receipt/ credit of money through electronic payment channels like NEFT/RTGS is free
The deposit/collection of cheques drawn by central/state governments is free
There is no charge on activation of inoperative accounts and closure of accounts.Interest rates of SBI's Zero Balance Savings Account
(BSBD):The interest rates offered by SBI on BSBD accounts are the same as those on regular savings bank accounts
For savings deposits balance up to Rs
1 crore, BSBD accounts offer an interest rate of 3.5 per cent per annum
On savings deposits balance over Rs
of cost in a year, the bank said on its official website pnbindia.in
Thereafter, normal cheque book charges would be applicable.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, including ATM withdrawal.Facility of ATM-cum-debit card shall
be available without any charge
However, annual maintenance charge shall be recovered
No charge will be levied for non-operation/activation of in-operative BSBD accounts.Interest rates of PNB's Zero Balance Savings Account
(BSBD):On account balance above Rs
50 lakh and above, PNB offers an interest rate of 4 per cent
On account balance of up to Rs
Key features of HDFC Bank BSBD account include zero balance and a free Rupay card, according to HDFC Bank on its website -
hdfcbank.com.Benefits of HDFC Bank's BSBD account:HDFC Bank issues a free passbook facility for all individual account holders and
customers also get free cash and cheque deposit facility at branches and ATMs
Customers get four withdrawals free per month including ATM/RTGS/NEFT/clearing/branch cash withdrawal/ transfer/ internet debits/ standing
50 lakh and above, HDFC Bank offers an interest rate of 4 per cent
On account balance below Rs
facility, Rupay card facility free of cost to customers of BSBD accounts
Besides this, daily spending/withdrawal limits are Rs
(BSBD):The interest rates offered by ICICI Bank on BSBD accounts are the same as those on savings bank accounts, stated icicibank.com
For the balance lower than Rs
50 lakh, ICICI Bank offers an 3.5 per cent per annum
