Best Zero Balance Account only for UPI

[SayonB@97]

Hi All,
I am a salaried person and I have savings accounts in a couple of banks. I am looking for a simple zero balance savings account with NO minimum balance requirement. I need it to be totally free of any charges whatsoever. I will just use it for my daily basic UPI transactions and nothing else. Mostly the maximum balance in that won't exceed 10000 even. I don't need any debit card or passbook or chequebook or any other extra service; it should just have an app where I can check my UPI transactions. That's all. It can be a Payments Bank, Neo Bank, etc; I have no issues.
I was actually using Paytm Payments Bank for this use case since 2017 most probably and it was perfect for me. But as we all know, it came to a stop now. So I am looking for a similar alternative. I think I had opened it without any initial funding but I can provide some initial funding now if that's needed but I will like to take that out as soon as I can.
Some of the options I have heard of are Jio Payments Bank, Kotak 811 Digital Account, ICICI Zero Balance, IDFC, etc.
Your reviews and recommendations will be highly appreciated. Thanks!

 

[FearLesS]

Hi All,
I am a salaried person and I have savings accounts in a couple of banks. I am looking for a simple zero balance savings account with NO minimum balance requirement. I need it to be totally free of any charges whatsoever. I will just use it for my daily basic UPI transactions and nothing else. Mostly the maximum balance in that won't exceed 10000 even. I don't need any debit card or passbook or chequebook or any other extra service; it should just have an app where I can check my UPI transactions. That's all. It can be a Payments Bank, Neo Bank, etc; I have no issues.
I was actually using Paytm Payments Bank for this use case since 2017 most probably and it was perfect for me. But as we all know, it came to a stop now. So I am looking for a similar alternative. I think I had opened it without any initial funding but I can provide some initial funding now if that's needed but I will like to take that out as soon as I can.
Some of the options I have heard of are Jio Payments Bank, Kotak 811 Digital Account, ICICI Zero Balance, IDFC, etc.
Your reviews and recommendations will be highly appreciated. Thanks!

Hi All,
I am a salaried person and I have savings accounts in a couple of banks. I am looking for a simple zero balance savings account with NO minimum balance requirement. I need it to be totally free of any charges whatsoever. I will just use it for my daily basic UPI transactions and nothing else. Mostly the maximum balance in that won't exceed 10000 even. I don't need any debit card or passbook or chequebook or any other extra service; it should just have an app where I can check my UPI transactions. That's all. It can be a Payments Bank, Neo Bank, etc; I have no issues.
I was actually using Paytm Payments Bank for this use case since 2017 most probably and it was perfect for me. But as we all know, it came to a stop now. So I am looking for a similar alternative. I think I had opened it without any initial funding but I can provide some initial funding now if that's needed but I will like to take that out as soon as I can.
Some of the options I have heard of are Jio Payments Bank, Kotak 811 Digital Account, ICICI Zero Balance, IDFC, etc.
Your reviews and recommendations will be highly appreciated. Thanks!

Go for Kotak zero balance, as per your simple needs of upi etc only.. Kotak zero bal acc is much better choice

 

[Gunn]

I think jio payments bank is a good option but you cant do fds in it , yes paytm payments bank was the best we could create fds and no penalty on early breaking

 

[zacobite]

Hi All,
I am a salaried person and I have savings accounts in a couple of banks. I am looking for a simple zero balance savings account with NO minimum balance requirement. I need it to be totally free of any charges whatsoever. I will just use it for my daily basic UPI transactions and nothing else. Mostly the maximum balance in that won't exceed 10000 even. I don't need any debit card or passbook or chequebook or any other extra service; it should just have an app where I can check my UPI transactions. That's all. It can be a Payments Bank, Neo Bank, etc; I have no issues.
I was actually using Paytm Payments Bank for this use case since 2017 most probably and it was perfect for me. But as we all know, it came to a stop now. So I am looking for a similar alternative. I think I had opened it without any initial funding but I can provide some initial funding now if that's needed but I will like to take that out as soon as I can.
Some of the options I have heard of are Jio Payments Bank, Kotak 811 Digital Account, ICICI Zero Balance, IDFC, etc.
Your reviews and recommendations will be highly appreciated. Thanks!

just get a basic psu bank.. balance required is only 1k..use for upi

 

[SayonB@97]

I think jio payments bank is a good option but you cant do fds in it , yes paytm payments bank was the best we could create fds and no penalty on early breaking

Yeah Jio looks good. And I dont need FD functionality here btw.

 

[saurabh.s]

Hi All,
I am a salaried person and I have savings accounts in a couple of banks. I am looking for a simple zero balance savings account with NO minimum balance requirement. I need it to be totally free of any charges whatsoever. I will just use it for my daily basic UPI transactions and nothing else. Mostly the maximum balance in that won't exceed 10000 even. I don't need any debit card or passbook or chequebook or any other extra service; it should just have an app where I can check my UPI transactions. That's all. It can be a Payments Bank, Neo Bank, etc; I have no issues.
I was actually using Paytm Payments Bank for this use case since 2017 most probably and it was perfect for me. But as we all know, it came to a stop now. So I am looking for a similar alternative. I think I had opened it without any initial funding but I can provide some initial funding now if that's needed but I will like to take that out as soon as I can.
Some of the options I have heard of are Jio Payments Bank, Kotak 811 Digital Account, ICICI Zero Balance, IDFC, etc.
Your reviews and recommendations will be highly appreciated. Thanks!

You can try Jio Payment Bank, there's literally no charges.

 

[aajmera]

You can try some small finance banks like
-) utkarsh small finance bank
-) fincare small finance banks ( now merged with au bank)
,-) niyo utkarsh
But honestly these are not much recommended due to their services

Even I use one such account i.e. idfc account with niyo. Although this account is closed for new users but i feel it's one of the best account.

 

[Skylar]

just get a basic psu bank.. balance required is only 1k..use for upi

I have SBI zero balance account but has AMC for debit card

 

[zacobite]

I have SBI zero balance account but has AMC for debit card

free card also available

 

[Skylar]

free card also available

Cool, will check that out.
Hey as I remember if we are not using debit card we won't be charged amc I guess

 

[zacobite]

Cool, will check that out.
Hey as I remember if we are not using debit card we won't be charged amc I guess

rbi mandate.. there has to be a free options fr all accounts.. basic

 

[pankajpotter]

You can try Jupiter, they are affiliated to Fredral bank.

 

[aajmera]

You can try Jupiter, they are affiliated to Fredral bank.

It's not zero balance

 

[Vivek3117]

Hi All,
I am a salaried person and I have savings accounts in a couple of banks. I am looking for a simple zero balance savings account with NO minimum balance requirement. I need it to be totally free of any charges whatsoever. I will just use it for my daily basic UPI transactions and nothing else. Mostly the maximum balance in that won't exceed 10000 even. I don't need any debit card or passbook or chequebook or any other extra service; it should just have an app where I can check my UPI transactions. That's all. It can be a Payments Bank, Neo Bank, etc; I have no issues.
I was actually using Paytm Payments Bank for this use case since 2017 most probably and it was perfect for me. But as we all know, it came to a stop now. So I am looking for a similar alternative. I think I had opened it without any initial funding but I can provide some initial funding now if that's needed but I will like to take that out as soon as I can.
Some of the options I have heard of are Jio Payments Bank, Kotak 811 Digital Account, ICICI Zero Balance, IDFC, etc.
Your reviews and recommendations will be highly appreciated. Thanks!

Brother i m using kotak 811 account from 3 years .... and from my opinion it is the the best ... and will satisfy all your needs

 

[Ramesh181]

Hi All,
I am a salaried person and I have savings accounts in a couple of banks. I am looking for a simple zero balance savings account with NO minimum balance requirement. I need it to be totally free of any charges whatsoever. I will just use it for my daily basic UPI transactions and nothing else. Mostly the maximum balance in that won't exceed 10000 even. I don't need any debit card or passbook or chequebook or any other extra service; it should just have an app where I can check my UPI transactions. That's all. It can be a Payments Bank, Neo Bank, etc; I have no issues.
I was actually using Paytm Payments Bank for this use case since 2017 most probably and it was perfect for me. But as we all know, it came to a stop now. So I am looking for a similar alternative. I think I had opened it without any initial funding but I can provide some initial funding now if that's needed but I will like to take that out as soon as I can.
Some of the options I have heard of are Jio Payments Bank, Kotak 811 Digital Account, ICICI Zero Balance, IDFC, etc.
Your reviews and recommendations will be highly appreciated. Thanks!

I've been using Kotak 811 digital zero balance account for the last 2 yrs and my experience has been very smooth so far. You can go for it or if you are interested in PSU banks, then go with SBI savings account, which also offers a zero balance account with AMC for the debit card.

 

[Rahul Amat]

Hi All,
I am a salaried person and I have savings accounts in a couple of banks. I am looking for a simple zero balance savings account with NO minimum balance requirement. I need it to be totally free of any charges whatsoever. I will just use it for my daily basic UPI transactions and nothing else. Mostly the maximum balance in that won't exceed 10000 even. I don't need any debit card or passbook or chequebook or any other extra service; it should just have an app where I can check my UPI transactions. That's all. It can be a Payments Bank, Neo Bank, etc; I have no issues.
I was actually using Paytm Payments Bank for this use case since 2017 most probably and it was perfect for me. But as we all know, it came to a stop now. So I am looking for a similar alternative. I think I had opened it without any initial funding but I can provide some initial funding now if that's needed but I will like to take that out as soon as I can.
Some of the options I have heard of are Jio Payments Bank, Kotak 811 Digital Account, ICICI Zero Balance, IDFC, etc.
Your reviews and recommendations will be highly appreciated. Thanks!

Hi All,
I am a salaried person and I have savings accounts in a couple of banks. I am looking for a simple zero balance savings account with NO minimum balance requirement. I need it to be totally free of any charges whatsoever. I will just use it for my daily basic UPI transactions and nothing else. Mostly the maximum balance in that won't exceed 10000 even. I don't need any debit card or passbook or chequebook or any other extra service; it should just have an app where I can check my UPI transactions. That's all. It can be a Payments Bank, Neo Bank, etc; I have no issues.
I was actually using Paytm Payments Bank for this use case since 2017 most probably and it was perfect for me. But as we all know, it came to a stop now. So I am looking for a similar alternative. I think I had opened it without any initial funding but I can provide some initial funding now if that's needed but I will like to take that out as soon as I can.
Some of the options I have heard of are Jio Payments Bank, Kotak 811 Digital Account, ICICI Zero Balance, IDFC, etc.
Your reviews and recommendations will be highly appreciated. Thanks!

Hey,
You should use kotak zero balance account, no minimal amount is deposited and also it provides a virtal debit card for users.

In future if u require any debit card, you can order it by paying minimum amount of rs 200.

 

[Devine Soul]

Cool, will check that out.
Hey as I remember if we are not using debit card we won't be charged amc I guess

Yes no card no AMC

 

[Skylar]

Yes no card no AMC

And from 2018 to 2021 when I wasn't using my SBI debit card I wasn't charged AMC

 

[Sarcastic_bubu]

Hi All,
I am a salaried person and I have savings accounts in a couple of banks. I am looking for a simple zero balance savings account with NO minimum balance requirement. I need it to be totally free of any charges whatsoever. I will just use it for my daily basic UPI transactions and nothing else. Mostly the maximum balance in that won't exceed 10000 even. I don't need any debit card or passbook or chequebook or any other extra service; it should just have an app where I can check my UPI transactions. That's all. It can be a Payments Bank, Neo Bank, etc; I have no issues.
I was actually using Paytm Payments Bank for this use case since 2017 most probably and it was perfect for me. But as we all know, it came to a stop now. So I am looking for a similar alternative. I think I had opened it without any initial funding but I can provide some initial funding now if that's needed but I will like to take that out as soon as I can.
Some of the options I have heard of are Jio Payments Bank, Kotak 811 Digital Account, ICICI Zero Balance, IDFC, etc.
Your reviews and recommendations will be highly appreciated. Thanks!

If you go with with kotak 811 digital account then your total cost to run that account will be zero .
Here how....
Open a 811 digital account and use their virtual debit card ....there is no charge if you use their virtual debit card through kotak 811 app . So your upi issue is solved now by these app .
For farther details go to their web .

 

[SS2024]

Hi All,
I am a salaried person and I have savings accounts in a couple of banks. I am looking for a simple zero balance savings account with NO minimum balance requirement. I need it to be totally free of any charges whatsoever. I will just use it for my daily basic UPI transactions and nothing else. Mostly the maximum balance in that won't exceed 10000 even. I don't need any debit card or passbook or chequebook or any other extra service; it should just have an app where I can check my UPI transactions. That's all. It can be a Payments Bank, Neo Bank, etc; I have no issues.
I was actually using Paytm Payments Bank for this use case since 2017 most probably and it was perfect for me. But as we all know, it came to a stop now. So I am looking for a similar alternative. I think I had opened it without any initial funding but I can provide some initial funding now if that's needed but I will like to take that out as soon as I can.
Some of the options I have heard of are Jio Payments Bank, Kotak 811 Digital Account, ICICI Zero Balance, IDFC, etc.
Your reviews and recommendations will be highly appreciated. Thank

Hi All,
I am a salaried person and I have savings accounts in a couple of banks. I am looking for a simple zero balance savings account with NO minimum balance requirement. I need it to be totally free of any charges whatsoever. I will just use it for my daily basic UPI transactions and nothing else. Mostly the maximum balance in that won't exceed 10000 even. I don't need any debit card or passbook or chequebook or any other extra service; it should just have an app where I can check my UPI transactions. That's all. It can be a Payments Bank, Neo Bank, etc; I have no issues.
I was actually using Paytm Payments Bank for this use case since 2017 most probably and it was perfect for me. But as we all know, it came to a stop now. So I am looking for a similar alternative. I think I had opened it without any initial funding but I can provide some initial funding now if that's needed but I will like to take that out as soon as I can.
Some of the options I have heard of are Jio Payments Bank, Kotak 811 Digital Account, ICICI Zero Balance, IDFC, etc.
Your reviews and recommendations will be highly appreciated. Thanks!

Hi,

Since from my own experience. I would say you can open account any of the following banks
1. Kotak Mahindra Bank ( As required full KYC within 1 years from the of opening of account otherwise account will be dormant and you cannot use this account anymore)
2. Fi ( Associate with Federal Bank)
3. Jupiter ( Associate with Federal Bank)
Fi & Jupiter specially for online transaction i.e. UPI.

4. AU Bank ( But Initial deposit amount required:- 5000 for digital account)