Account types
Basic Savings Bank Deposit Account (BSBDA)
RBI-mandated basic account at every bank — no minimum balance, free services, withdrawal limits and who should open one.
Updated 30 September 2026 · 26 banks trackedBest effective rate on ₹10 lakh
5.65%
IDFC FIRST BankWhat you need to know
Every bank must offer a Basic Savings Bank Deposit Account under RBI rules. It has no minimum balance and provides essential banking free of charge. It is ideal for first-time account holders, students, pensioners and anyone who wants a no-frills account.
Features
| Feature | Rule |
|---|---|
| Minimum balance | None |
| Deposits | Unlimited, free — cash and electronic |
| Withdrawals | At least 4 free a month (ATM and branch) |
| Debit card | Free ATM/debit card |
| Cheque book | Can be provided; free/limited as per bank |
| Other savings account | Cannot hold another savings account in the same bank (existing one must be closed within 30 days) |
| Small account | If opened without full KYC: balance limit ₹50,000, credits ₹1 lakh a year, valid 12 months (extendable) |
Frequently asked questions
Can I convert my regular account into BSBDA?
Yes, request the bank to convert; you must not hold another savings account there.
For information and comparison only. Confirm rates, charges and rules with your bank.