I need some advice.

debangshuskr

KF Rookie
can anyone tell me which is the best zero balance savings account in 2024 with no hidden or extra charges.
As I recently became 18 years old and I'm a student and I need one account in my name to do online transaction, etc.
I can only keep 2k in the account which is my pocket money and it would be best if i get some rewards or deals on online spends.
 

realanubhav

KF Rookie
Choosing the best zero-balance savings account for you in 2024 depends on your specific needs and priorities as a student. Here are some options to consider, all with no hidden charges:
1. Based on Rewards and Offers:
  • Equitas Small Finance Bank Selfie Account: This account offers 1% cashback on all online spends, 12.5% cashback on Amazon and Flipkart via Grab Deals, and 5% to 45% on 30 other brands. It also has free unlimited checkbooks and insurance for air accidents and baggage. However, the interest rate is only 3.50%.
  • Kotak Mahindra 811 Full KYC Account: This account provides a free digital debit card and access to NEFT, IMPS, and RTGS without charges. You also get 5 free financial transactions per month, after which there's a charge of INR 20 per transaction. Additionally, they offer cashback on bill payments and other deals through Kotak CRED.
2. Based on Convenience and Features:
  • State Bank of India Basic Savings Account (BSBDA): This account is widely accepted and has a large network of ATMs. It offers free online banking and mobile banking, along with a free debit card. However, there are no rewards or cashback.
  • IDFC First Bank Pratham Savings Account: This account is specifically designed for students and offers a free RuPay debit card, free online transactions, and free accidental death insurance cover. While the interest rate is low (3.25%), they have student-friendly features like scholarships and discounts.
3. Based on Minimum Balance:
  • HDFC Bank Basic Savings Account: This account allows you to maintain a minimum balance of INR 2,000, which aligns with your pocket money. It offers free online banking, mobile banking, and a debit card. However, there are no rewards or cashback.
  • RBL Bank Savings Plus Account: This account requires no minimum balance and offers an interest rate of up to 7% on balances above INR 10 lakhs. They also have cashback offers on various brands and free accidental death insurance.
Here are some additional tips for choosing the best zero-balance savings account:
  • Compare interest rates: Even though the difference might be small, it can add up over time.
  • Consider hidden charges: Some accounts may charge for transactions like ATM withdrawals or online transfers.
  • Check for minimum balance requirements: Some accounts require you to maintain a minimum balance to avoid penalty charges.
  • Think about the features you need: Do you need a debit card? Online banking? Overdraft protection?
  • Read the fine print: Make sure you understand all the terms and conditions of the account before you open it.
 
AU Small Finance Bank's zero balance savings account will be best. It offers you 3% monthly interest in your savings & it credit to the account on every month's 1st day.
 

Rohan_shaq

KF Rookie
ICICI BANK Zero balance account
Free RuPay debit card Free passbook and cash deposits Single and joint accounts are available Customers can access 15,000+ ATMs all over India
 

Rohan_shaq

KF Rookie
Freo save zero balance digital savings account provides 7 % interst on your savings and you don't have to worry about the maintenance fee if your account balance is zero
 
Other banks give 7% per year. That means if you deposit 1000 then you will get 1070 Rs after year. But AU Small Finance Bank gives you 3% interest per month i.e. you will get nearby 1425 Rs of 1000 in 1 year
Freo save zero balance digital savings account provides 7 % interst on your savings and you don't have to worry about the maintenance fee if your account balance is z
 

debangshuskr

KF Rookie
Can anyone tell me about the zero balance account which can be opened through indusind bank's indie app which shows that it gives 6.75% interest rate, is it legit or a marketing gimmick?
 

vishwjitgurav

KF Rookie
can anyone tell me which is the best zero balance savings account in 2024 with no hidden or extra charges.
As I recently became 18 years old and I'm a student and I need one account in my name to do online transaction, etc.
I can only keep 2k in the account which is my pocket money and it would be best if i get some rewards or deals on online spends.
Go for kotak bank account. One of the best account for students.
 

hashtagunknown

KF Rookie
IDFC Futures First Bank Account exclusively for College Students. This is a no-nonsense Zero Balance bank account. Can be opened through Branch Only.

Other Alternative -

Kotak 811 Digital (Zero Balance)
(Kotak 811 Edge has 10k AMB requirement)
 
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