I need some advice.

[debangshuskr]

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]

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.

 

[debangshuskr]

THANK YOU FOR YOUR RESPONSE

 

[Prasad Gaikwad]

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]

Wow! Very clear but what about Bob(bank of baroda)

 

[Rohan_shaq]

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]

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

 

[financial12345]

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

Which account in ICICI is free

 

[Prasad Gaikwad]

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]

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]

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]

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)

 

[debangshuskr]

Which zero balance account provides highest offers and rewards?

 

[theraj0007]

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 WITH KOTAK 811

 

[vishwjitgurav]

Go with AU small finance bank. Only nominal charges atm and sms go for it.

 

[प्रफूला_56]

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.

You can open sbi digital account .
It is zero balance account and offers free virtual debit card .
You can also withdraw cash without atm through yono cash

 

[प्रफूला_56]

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

Are you talking about BSBDA ?