Saraswat Bank Zero Balance Account opening online is a straightforward process. You can simply visit the bank’s official website to open a zero balance account easily. Saraswat Bank offers a zero-balance savings account called the Suvidha Savings Account. This account allows you to enjoy the benefits of a regular savings account without the hassle of maintaining a minimum balance. To know more about the features, documents required, and how to open it online, continue reading this blog.
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Overview of Saraswat Bank Zero Balance Account
Saraswat Bank offers the Suvidha Savings Account. This is a regular savings account that provides the convenience of savings at a zero balance facility. This means that there is no obligation to maintain a minimum balance. The bank account can be opened online with a simple application process.
| Saraswat Bank Zero Balance Account | Suvidha Savings Account |
| Minimum Balance Requirements | NIL, No minimum balance required |
| Interest Rate | 3% p.a with quarterly rest |
| Cheque Book Facility | Available |
| Debit Card | Free Rupay Classic ATM Debit Card is issued |
| Intra-day Cash Limit | INR 25,000 per day |
| Eligibility | Individuals, including minors with guardians (must not have another savings account with Saraswat Bank) |
Saraswat Bank also offers an ‘Akshay Salary Account’ that has no restriction of minimum balance requirement. This zero-balance account is ideal for employees and employers. However, the net monthly salary must be above INR 15,000 to open this account. To check the applicable service charges, visit the official website of the bank.
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Features
The Suvidha Savings Account goes beyond simply offering a zero balance option. Here are some of the features that make it a preferred option among many-
- Free Debit Card: Enjoy the convenience of cashless transactions with a free Visa/Rupay debit card. Plus, there’s no annual maintenance charge (AMC) on the card.
- Free ATM Transactions (limited): Get the first five financial transactions per month free at any Saraswat Bank ATM. Transactions beyond that incur a nominal fee. Non-financial ATM transactions (like balance inquiries) remain free.
- Standing Instruction Facility: Set up automatic bill payments or recurring transfers with ease including the monthly EMIs on Saraswant Bank education loan.
- Free Internet and Mobile Banking: The Saraswat Bank zero balance Suvidha Savings Account comes with free Internet and mobile banking, allowing you to manage your account conveniently from anywhere.
- Free Online NEFT/RTGS Transactions: Transfer funds easily and conveniently through online NEFT and RTGS transactions, free of charge.
- Any Branch Banking: Enjoy the flexibility of accessing your account from any Saraswat Bank branch across India.
Eligibility Criteria for Saraswat Bank Zero Balance Account
The eligibility criteria for opening a Saraswat Bank Zero Balance Account, particularly the CAMPUS Savings Account, is straightforward and tailored to specific demographics. Here’s an outline based on information from Saraswat Bank’s official website:
- Students aged 14 to 26 years are eligible for the CAMPUS Savings Account.
- For individuals below 18 years, the account must be opened as a joint account with a parent or guardian.
- Standard KYC documents such as Aadhaar and PAN are mandatory.
- A copy of the student’s college ID is also required to verify enrollment.
- The account can be held singly or jointly, and minors can hold accounts in conjunction with a parent or guardian.
- The CAMPUS Savings Account does not require an initial deposit or a minimum average quarterly balance.
- Features like free Rupay debit cards, waived charges for certain services, and free remittance up to INR 50,000 for educational purposes further enhance its appeal to students
Documents Required for Saraswat Bank Zero Balance Account Opening Online
To open a zero balance account with Saraswat Bank, the applicant must submit certain documents to the bank. These documents are related to KYC (Know Your Customer) and others to proceed with online account opening-
- One latest passport-sized photograph
- PAN Card
- Proof of address and identity (any one of the following):
– Aadhaar Card
– Passport
– Driving License
– Voter’s Identity Card
– NREGA Job Card
– Letter issued by the National Population Register
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How to Open Saraswat Bank Zero Balance Account Opening Online?
To open the Saraswat Bank account online, you need to visit the official website of Saraswat Bank. Once done, you need to fill out the application form and attach the required documents. By following these steps, you can conveniently open a Saraswat Bank zero-balance account online and enjoy the benefits of hassle-free banking.
- Visit the official website of Saraswat Bank.
- Navigate to the ‘Personal’ section and click on ‘Savings’.
- Now, click on ‘Government Scheme Account’.
- Click on ‘Apply Now’ under the Suvidha Savings Account’.
- Enter your details and Submit.
- The bank will get in touch with you after receiving your details.
Saraswat Bank may contact you for verification purposes. You might be required to visit a nearby Saraswat Bank branch for document verification and account activation.
This was all about Saraswat Bank zero balance account opening online. Opening a Saraswat Bank Suvidha Savings Account online is a fast and convenient way to enjoy the benefits of a savings account without the minimum balance hassle.
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FAQs
Saraswat Bank zero balance account is popularly known as the Suvidha Savings Account. It allows individuals, including minors, can enjoy all the convenience and benefits of a savings account at the zero balance facility.
Individuals, including minors with guardians, can easily open a Saraswat Bank zero balance account online. However, they must not have another savings account with Saraswat Bank.
An interest rate of 3% p.a with quarterly rest is offered on Saraswat Bank zero balance account.
Yes. Saraswat Bank also offers ‘Akshay Salary Account’ that has no restriction of minimum balance requirement. This zero-balance account is ideal for employees and employers.
To open the Saraswat Bank Zero balance account online, you need to visit the official website of Saraswat Bank. Once done, you need to fill out the application form and attach the required documents.
Although there is no minimum balance requirement, Saraswat Bank may charge fees for additional services like issuing extra cheque books, SMS alerts, or ATM transactions beyond the free limit. It’s advisable to review the bank’s detailed schedule of charges for clarity.
No, the Saraswat Bank zero balance account is primarily designed for Indian residents. NRIs are required to open NRE/NRO accounts, which come with different benefits and conditions.
Yes, the Saraswat Bank zero balance account includes free internet banking and mobile banking services. Customers can perform transactions, check balances, and access account statements online without visiting a branch
Yes, Saraswat Bank zero balance accounts can be linked to UPI platforms, enabling seamless transactions like bill payments, money transfers, and QR code-based payments via apps such as Google Pay, PhonePe, or Saraswat Bank’s own UPI service.
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To get more details about the services and process for opening a savings account, we recommend reaching out to your nearest Saraswat Bank branch or visiting their official website.