SBI Zero Balance Account is a convenient and accessible savings option under SBI’s Basic Savings Bank Deposit (BSBD) scheme. Any individual above 18 years with valid KYC documents can apply for SBI Zero Balance Account Opening without worrying about maintaining a minimum balance. Unlike traditional savings accounts, SBI Zero Balance Account allows you to deposit any amount at your convenience without penalty for low balance.
SBI Zero Balance account is especially beneficial for students and individuals looking for a simple, cost-effective banking solution. To explore the features, benefits, and step-by-step process for SBI Zero Balance Account Opening online, continue reading further.
Table of contents
- What is a SBI Zero Balance Account Opening?
- SBI Zero Balance Account Opening – Features & Benefits
- Benefits of SBI Zero Balance Account for Students
- Eligibility Criteria to Open SBI Zero Balance Account
- Documents Required for SBI Zero Balance Account Opening Online
- How To Open SBI Zero Balance Account Online?
- How To Open SBI Zero Balance Account Offline?
- Fees & Charges on SBI Zero Balance Account Opening
- FAQs on SBI Zero Balance Account Opening
What is a SBI Zero Balance Account Opening?
SBI zero balance account is a type of student account in SBI where no minimum balance is required to open or maintain the bank account. SBI zero balance account is a KYC-compliant account. SBI Bank offers this account under its Basic Savings Bank Deposit Account (BSBDA) category.
SBI zero balance account opening is mainly meant for the poorer sections of society to encourage them to save and leave the burden of fees and charges behind. A basic highlight of the SBI Zero Balance Account is provide in the table provided below:
| Account Name | SBI Zero Balance Account |
| Category | SBI Basic Savings Account |
| Interest Rate | 4% |
| Minimum Balance Amount | NIL |
| Maximum Balance Amount | INR 50,000 |
| Eligibility Criteria | An individual who is 18 years and above |
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Type of SBI Zero Balance Account
The State Bank of India (SBI) offers six different types of zero balance savings accounts, designed to promote financial inclusion, especially for low-income groups. These accounts provide essential banking services without requiring a minimum balance, making financial management more accessible.
If you’re looking for an SBI Zero Balance Account Opening, here are the six types of accounts available:
- SBI Insta Plus Savings Bank Account – A digital savings account with instant activation.
- Basic Savings Bank Deposit Account – Ideal for basic banking needs without any charges.
- SBI Savings Bank Account – A standard savings account with zero balance benefits under specific schemes.
- Basic Savings Bank Deposit Small Account – A simplified account for individuals with minimal documentation.
- Savings Plus Account – A flexible savings option linked with a fixed deposit facility.
- Savings Account for Minors – Designed to encourage savings habits among children and teenagers.
SBI Zero Balance Account Opening – Features & Benefits
The SBI Zero Balance Account is an ideal choice for individuals looking for a hassle-free banking experience. With no minimum balance requirement, this account provides essential banking services while promoting financial inclusion. Here are the key features of SBI Zero Balance Account Opening:
1. Easy Account Opening Process
- Available at all SBI branches except specialized branches like Personal Banking Branches (PBBs), Special Personalized Banking (SPB), Mid Corporate Group (MCG), and Corporate Account Group (CAG) branches.
- Eligibility: Any individual above 18 years of age with valid KYC documents can apply.
2. Zero Balance Requirement
- No minimum balance is required, making it accessible for individuals from all financial backgrounds.
3. Account Balance & Transaction Limits
- The maximum account balance allowed is INR 50,000.
- Cash deposits exceeding this limit may lead to conversion into a regular savings account.
4. Debit Card & Banking Services
- Free RuPay Debit Card provided at the time of account opening.
- Enables digital transactions, ATM withdrawals, and online purchases.
5. Banking Restrictions
- If an individual opts for SBI Zero Balance Account Opening, they cannot hold any other SBI savings account.
- Existing SBI savings accounts must be closed within 30 days of opening this account.
6. Bill Payments & Digital Banking
- Utility bill payments can be made conveniently through net banking, mobile banking, or UPI.
- Access to basic banking transactions like deposits, withdrawals, and fund transfers.
Benefits of SBI Zero Balance Account for Students
Students who open an SBI Zero account can avail of certain benefits. The most beneficial one is that there are no restrictions on maintaining the minimum balance, unlike other savings accounts. Here are some more benefits that the SBI zero balance account for students offers-
- A basic RuPay ATM cum debit card can be used to make hassle-free transactions. It is issued free of cost and no annual maintenance charges are applicable.
- Every month four free ATM withdrawals are allowed from SBI or any other bank’s ATMs. More than four transactions made will be charged.
- There are no charges on activation of an inoperative account. Also, there are no closure charges applicable.
- Foreign Remittances can be credited into the SBI zero balance account upon submitting official valid KYC documents to the bank.
Eligibility Criteria to Open SBI Zero Balance Account
An individual is permitted to open an SBI zero balance account subject to fulfilment of eligibility criteria. The eligibility to open this account is simple and similar to what applies to regular Savings Bank accounts. Here are some other eligibility criteria that they must fulfil-
- Applicant must be an Indian resident
- An individual who is 18 years and above
- Applicant must not have any other SBI account
- Account can be opened singly or jointly by the individual
- Applicant must have an active mobile number
- Should have KYC-compliant documents
Documents Required for SBI Zero Balance Account Opening Online
Opening an SBI Zero Balance Account requires submitting specific documents for verification. Once successfully verified, your account will be activated. Below is the list of essential documents needed for SBI Zero Balance Account opening online:
- Filled-in Account Opening Form (AOF)
- Coloured passport-size photographs – 2
- KYC documents as stated in the AOF
- Adhaar Card
- PAN Card
- Adhaar registered mobile number
Note: Ensure all documents are valid and up to date to avoid any delays in the SBI zero balance account opening process.
How To Open SBI Zero Balance Account Online?
SBI Zero Balance account opening is a hassle-free process that can be done online through the official SBI website or the SBI YONO app. Below are the step-by-step methods for opening an SBI Zero Balance Account online.
SBI Zero Balance Account Opening Online through Website
- Step 1: Visit the official website of SBI Bank.
- Step 2: Navigate to the ‘Accounts’ section at the top left corner.
- Step 3: Click on ‘Savings Account’.
- Step 4: Scroll down and click on ‘Download Account Opening Form’.
- Step 5: Download and fill out the application form.
- Step 6: Attach the required documents and submit it at the nearest branch.
SBI Zero Balance Account Opening Online through SBI YONO App
- Step 1: Download the SBI YONO app.
- Step 2: Open the app, choose ‘Savings Account,’ and select ‘Branch Visit.’
- Step 3: Press ‘Next’ and then ‘Apply Now.’
- Step 4: If you have an Aadhaar card, select the ‘Open with Aadhaar using e-KYC (Biometric Authentication)’ option. If not, choose ‘Open with Official Valid Document (OVD)’ and click on ‘Next.’
- Step 5: Enter your mobile number and hit the ‘Submit’ button.
- Step 6: Log in using the one-time password (OTP) sent to your registered mobile number and provide your PAN details.
- Step 7: Fill in your personal details, such as name, address, income, and educational information, then click ‘Submit.’
- Step 8: Enter the OTP again and submit your application.
- Step 9: Visit your nearest SBI branch to provide your signature for document verification.
- Step 10: The bank officials will authenticate your documents and complete the verification process to activate your account..
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How To Open SBI Zero Balance Account Offline?
Opening an SBI Zero Balance Account offline may take a little more effort than doing it online, but it is a convenient option, especially for senior citizens and those who prefer in-person assistance. The SBI Zero Balance Account Opening process requires visiting the nearest SBI branch, filling out the account opening form, and submitting the necessary documents.
To successfully complete your SBI Zero Balance Account Opening Offline, follow these steps:
- Step 1: Visit the nearest SBI service branch.
- Step 2: Fill out an account opening form, providing all the required details accurately.
- Step 3: Submit the completed application form along with the necessary documents to the SBI officials.
- Step 4: The officials will review the form and verify the details. Once the verification process is successfully completed, your account will be opened.
Fees & Charges on SBI Zero Balance Account Opening
As mentioned above, one of the purposes of this account is to promote savings among poorer sections of society without the burden of fees. Thus there are no charges. However, if an individual makes more than four transactions in a month, that will be charged.
| Service | Charges |
| Issuance of Debit Card | No charges |
| Annual maintenance of Debit Card | No charges |
| Deposit/ Collection of cheques | No charges |
| Account Closure | No charges |
| More than 4 monthly transactions | Charges applicable |
FAQs on SBI Zero Balance Account Opening
Yes, the State Bank of India provides a zero balance account under its Basic Savings Accounts to encourage people with more savings. It is meant for poorer sections of society and to help them start saving without the burden of charges.
For SBI Zero Balance Account Opening, there is no minimum balance requirement. However, the maximum balance allowed is INR 50,000.
SBI Banks offers the same interest rate on zero balance accounts as in regular savings bank accounts which is 4%.
Any Indian resident who is 18 years or above can apply for SBI Zero Balance Account Opening. This account is particularly beneficial for individuals looking to save without maintaining a minimum balance.
You can apply for SBI Zero Balance Account Opening in two ways:
Offline: Visit the nearest SBI branch, fill out the application form, and submit the required documents.
Online: Visit the SBI official website, navigate to the “Savings Account” section, and download the application form. Once filled, submit it at the nearest SBI branch.
For SBI Zero Balance Account Opening online, follow these steps:
– Download the SBI YONO App or visit the official SBI website.
– Fill out the online application form.
– Upload the necessary documents.
– Complete the e-KYC verification process.
Yes, students can apply for SBI Zero Balance Account Opening online by providing valid identification, address proof, and a student ID or enrollment letter.
While Aadhaar is the preferred document for e-KYC verification, SBI also accepts alternative documents such as a passport or voter ID for online account opening.
This was all about the SBI zero balance account. This can allow students to focus on savings and manage their funds more efficiently without worrying about the fees and charges.
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1 sbi 0 balance me ek din me kitne Paisa likal sakte h atm ya bank se,?
2 sbi 0balance a/c me dubara dubara atm lene ke liye or passbook lene ke liye kya sulk lagta h ya nahi ?
3 sbi 0 balance a/c me UPI se din me kitna transaction kar sakte h ?
Hi Rohit,
Here are the details regarding the questions you have asked-
1. You can withdraw between INR 40,000 to INR 1 lakh, depending on the type of debit card via SBI ATMs.
2. There are no issuance charges for ATM card or passbook. However, if you need to replace a lost or damaged debit card, the charge is INR 300 plus GST.
3. SBI allows a maximum of 10 UPI transactions per day with a limit of up to INR 1 lakh.
If you have any more questions, feel free to ask.