Top Zero Balance Savings Account in India

Top Zero Balance Savings Account in India

Posted by Creditkaro

Saving September 06, 2018

With the wave of Demonetization in India, there has been an influx of top Zero Balance savings accounts. However, many of them are a basic Savings account with limited features. But there are few which provide customers with the best of features without the hassle of maintaining any minimum balance. If you want to check out or open free savings accounts, click here.

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We have made a list of best Zero Balance Savings Account in India with the best features and facilities for customers, Debit Card features and interest rates.

Account Name
BankInterest Rate
Axis ASAP Instant Savings Account
Axis Bank
3.5% - 7.1%
Kotak 811 Savings Account
Kotak Mahindra Bank
5.5% - 6.5%
DBS digiSavings Account
DBS6% - 7%
SBI YONO Instant Digital Savings Account
ICICI Basic Savings Account
RBL Digital Savings Account *
RBL5.5% - 6.5%

Axis ASAP Instant Savings Account

Top Zero Balance Savings Account in India

Here Axis ASAP Account is a Digital Savings Account launched by Axis Bank with no minimum balance requirement. So Axis ASAP Instant Account comes loaded with a variety of features and high interest rate.

minimum balance requirement. So, Axis ASAP Instant Account comes loaded with a variety of features and high interest rate.

Interest Rate: 3.5% – 7.25%

Key Features:

Zero Balance Account

Instant Account Number. Auto FD feature i.e. Balances above Rs 10,000 automatically gets converted into FD, thereby earning higher interest rate

Discount offers on BookMyShow, Cleartrip, Bigbasket, PepperFry and much more

Debit Card:

  • Complimentary online debit card/ Optional physical debit card
  • Virtual Visa Card Online Daily Purchase limit of INR 100000
  • Online Rewards Card Daily withdrawal limit of INR 50000 and purchase limit of INR 400000

Kotak 811 Savings Account

Top Zero Balance Savings Account in India

Here Kotak 811 Savings Account is gaining popularity these days as it offers numerous benefits to accountholders with Zero minimum balance requirement. So, Kotak 811 Zero Balance Account comes in three variants – 811 Limited KYC, 811 Lite and 811 Full KYC Account. Hence In addition to this, Kotak also offers an 811 Edge Account which has Minimum Balance Requirement of INR 10000.

Interest Rate: 5% – 6%

Key Features:

  • Instant account opening
  • Zero Minimum Balance Savings Account (no charges for not maintaining balance)
  • Up to 6 % Interest Rate Per Annum
  • Auto Sweep FD facility – All you have to do is set your Sweep in and Sweep out limit
  • All the features and facilities in one app – Shopping, Travel and Movies 

Debit Card

  • Virtual Debit Card
  • This card can be used to pay bills faster
  • Just scan and pay for your shopping, groceries, home deliveries and more

DBS digiSavings Account

Top Zero Balance Savings Account in India

DBS has come up with 100% digital banking experience facility for its customers in the form of an app called as digi bank. This app can be used for multiple purposes including Savings Account (aka digiSavings Account), Deposits, Trading and much more. So that With a digi Savings account, customers enjoy the convenience of zero balance account with Asia’s safest bank.

Interest Rate: 6% – 7%

Key Features:

  • With digiSavings account, customers can get upto 7% interest on savings
  • Get unlimited free withdrawals at over 2,00,000 ATMs only with digibank
  • DigiSavings comes equipped with easy 24*7 fund transfer facility through various channels including NEFT, UPI, RTGS and IMPS
  • With digiSavings account, customers can not only pay instantly at shopping outlets by scanning QR codes, they also can enjoy traditional banking services like term deposit as well as invest in mutual fund

Debit Card: 

  • Customers get a free Debit card with digiSavings for 1st year. 2nd year onwards, there is a nominal annual fee of INR 150 on the Debit Card
  • Get upto Rs.5000 off on listed Holiday Packages & flat 10% off on customized packages with digibank debit card
  • Use code TRBDBS and get flat 27% off on Treebo Hotels’ exclusive website with digibank debit card
  • Use code DBSUC0010 and get flat 10% off up to a maximum amount of Rs. 200 on minimum booking of Rs.800 on UrbanClap website / app with digibank debit card

SBI YONO Instant Digital Savings Account

Top Zero Balance Savings Account in India

SBI offers to open Zero Balance savings Account for its customers through its latest product SBI YONO app. This app – You Only Need One is a one stop shop for all your requirements – be it banking, shopping and investment needs. Likewise, Their Digital Account is also one of a kind which can be opened online with Aadhaar Card and PAN Card.

Interest Rate: 3.5%

Key Features:

  • It will be a singly operated account only. Nomination is mandatory in the account
  • The account is opened on OTP based e-KYC of Aadhaar; and requires full KYC to be done by visiting a branch of Bank
  • Insta Savings account can be converted to Digital Savings Account or Regular Savings Account within 1 year
  • Branch selected by the customer will be Home Branch for the account
  • Closure of Account by the Customer: The Digital Savings account can be closed only by making a written request at the home branch only

This account is not available for existing customers of the Bank

Debit Card: 

A personalised Rupay Debit Card is issued in this account

ICICI Basic Savings Account

Top Zero Balance Savings Account in India

This is the best zero balance Savings Account offered by ICICI Bank. With this card, customers can fulfil their basic banking requirements as and when they need it without having the necessity of keeping balance in account. Basically, ICICI Basic Savings Account also offers Internet Banking and Mobile Banking Facility free of charge to its customers.

Interest Rate: 4%

Key Features:

  • Daily withdrawal Limit INR 10000
  • Free Passbook, Cheque Book, Rupay Debit Card
  • Only one Nominee for each account
  • Free Internet and Mobile banking facility

Debit Card

  • ICICI Bank Rupay Debit Card issued with this account
  • This card has an International acceptance
  • You can earn Payback reward points on debit card purchase
  • Fuel Surcharge Waiver of 0.75% max upto INR 75 each month

RBL Digital Savings Account *

Top Zero Balance Savings Account in India

RBL now offers a digital account. Although this is not technically a Zero Balance Account, but it can be converted into one just by maintaining a SIP or RD with RBL for INR 2000 per month. So that We have included this account in the list owing to its innumerable features and benefits. Hence This account comes with a Titanium Debit Card which is pre-loaded with offers and discounts.

Interest Rate: 5.5% – 6.5%

Key Features:

  • RBL Bank Digital Savings Account is an instant and paperless account with minimum balance of INR 5000. 
  • This account provides higher interest rate as compared to other digital/ zero balance savings account
  • RBL Bank Digital Savings Account gives the facility of unlimited ATM transaction to its account holders
  • With this Savings account, customers can use the banking platform of RBL Bank for availing all the features and services like RD, Transfer funds, FD, Bill pay etc
  • Therefore, Customers get a welcome kit when they open RBL Digital Savings Account, which contains Welcome Letter, Titanium Debit Card, BCSBI Code Copy & Passbook

Debit Card:

Debit Card: 

  • You can get your Titanium debit card linked to the account with RBL Bank Digital Savings Account
  • With Titanium Debit card, customers get welcome vouchers worth Rs 2500 with different merchants.
  • Avail a discount of Rs 3,000 on a minimum purchase of Diamond Jewellery worth Rs 50,000 and also avail 25% off on Gold Jewellery making charges at Joyalukkas stores on using RBL Bank Titanium First Debit Cards

So, these are the best Zero Balance Savings account in India, making it easier for customers to avail banking services and Financial services without stepping in the bank. So, the facility of Zero minimum balance adds a cherry to the top

Open your Zero Balance Account Now!! Don’t be late to the race, or else you will be left behind.

Additional Reading – Top 10 Savings Account in India


Q1. What is a zero-balance savings account?

Ans- A Zero balance savings account allows you to have zero-balance on your savings account.

Q2. Where can I find the best zero balance savings account?

Ans- You can out some amazing offers on savings account at

Q3. Can I also open zero balance savings account on

Ans – Yes. You can click, compare and apply for various savings accounts in India on

Q4. How can I apply for a savings account on Credit


  • Just Log on to
  • Click on the ‘savings account’ tab
  • Fill all necessary details and click on ‘submit’
  • When on the listing page, compare from the products listed
  • Choose the product of your choice and click on ‘Apply’