Account types
Zero Balance Savings Account
Accounts with no minimum balance — BSBDA, PMJDY, salary and digital accounts, plus public banks that have waived minimum-balance charges.
Updated 30 September 2026 · 26 banks tracked0️⃣
Best effective rate on ₹10 lakh5.65%
IDFC FIRST BankWhat you need to know
A zero-balance account has no minimum-balance requirement and no non-maintenance charge. Options include the Basic Savings Bank Deposit Account (BSBDA) available at every bank, Pradhan Mantri Jan Dhan Yojana accounts, salary accounts (while salary is credited), some digital accounts, and regular accounts at public banks that have waived the charges.
Types of zero-balance accounts
| Type | Key features |
|---|---|
| BSBDA | Every bank; free debit card; at least 4 free withdrawals a month; cannot hold another savings account in the same bank |
| PMJDY | BSBDA with RuPay card, accident cover and overdraft eligibility |
| Salary account | Zero balance while salary is credited; converts to regular account after ~3 months without salary |
| Digital zero-balance | Some banks offer app-based accounts opened with video KYC |
| Public banks with waivers | SBI and several PSBs charge nothing for low balance on regular accounts |
Banks that have waived minimum-balance charges
| Bank | Effective from | What changed |
|---|---|---|
| State Bank of India | 11 Mar 2020 | MAB requirement removed for all savings accounts |
| Canara Bank | 1 Jun 2025 | No AMB penalty on all savings accounts (incl. salary, NRI) |
| Punjab National Bank | 1 Jul 2025 | No penal charges for non-maintenance of MAB across all savings schemes |
| Bank of Baroda | 1 Jul 2025 | Charges waived on all standard savings accounts; premium schemes excluded |
| Central Bank of India | 1 Jul 2025 | Charges waived for non-maintenance of MAB in savings accounts |
| Indian Bank | 7 Jul 2025 | All minimum-balance charges waived on savings accounts |
| Union Bank of India | Quarter ending Sep 2025 | Charges waived on general savings accounts; customised products excluded |
| Indian Overseas Bank | 1 Oct 2025 | Waived for SB-Public accounts only; premium variants excluded |
| Bank of India | Reported (date not confirmed) | Reported removal of AMB penalties for most account types (date not found) |
Frequently asked questions
Is a zero-balance account free?
There is no minimum balance, but other charges (extra ATM withdrawals, cheque books beyond limits) can apply.
For information and comparison only. Confirm rates, charges and rules with your bank.