Quick Answer: What Is The Limit Of Zero Balance Account?

Is HDFC zero balance account available?

Features of HDFC Bank’s Zero Balance Savings Account (BSBD): Customers can access the network of branches of the bank through this account.

Key features of HDFC Bank BSBD account include zero balance and a free Rupay card, according to HDFC Bank on its website – hdfcbank.com..

Which bank has lowest minimum balance?

ICICI Basic Savings Account.HDFC BSBDA Small Savings Account.SBI Basic Savings Bank Account.Axis Bank Small Basic Savings Account.Indus Small Savings Account.Standard Chartered Bank’s Basic Banking Account.RBL Bank’s Abacus Digital Savings Account.IDFC Bank Pratham-savings account (BSBDA)

Can I withdraw money from minimum balance?

Finance Ministry had withdrawn all transaction charges to withdraw cash from ATMs till 30 June. … Different banks have different ATM withdrawal and minimum balance rules. Minimum balance requirement. Most banks demand a minimum balance requirement from an account holder and non-maintenance could attract penalty.

Can I deposit 5 lakhs in my account?

Individuals who deposit cash above Rs. 2.5 lakh and senior citizens who deposit cash above Rs. 5 lakh may be scrutinised. Any amount within the specified limit will be excluded from scrutiny considering that the money is from household savings, cash withdrawals, earlier income, and so on.

Can I have 2 current accounts?

A lot of people seem to think you can only have one bank account at a time. But you can actually have multiple current accounts with various banks. Having more than one bank account should not affect your credit score, unless you try to open loads of new ones in a very short space of time.

What is a zero balance savings account?

Zero Balance Savings Account is a type of account where you are not required to maintain a minimum balance. It is one of the most difficult tasks to maintain a minimum balance in the account.

Which bank is best for zero balance account?

8 Best Zero Balance Savings Account In IndiaIDFC First Bank Pratham Savings Account. … YES Bank Smart Salary Advantage. … IndusInd Bank-Indus Online Savings Account. … DBS-DigiSavings. … Kotak Mahindra Bank-811 Digital Bank Account. … HDFC Bank – Basic Savings Bank Deposit Account. … SBI – Basic Savings Bank Deposit Account. … Standard Chartered Basic Savings Bank Deposit Account.

What is the maximum limit of savings account?

Though there’s no limit to how much you can keep in a savings account, you should know the rules surrounding large deposits to savings accounts. When it comes to making deposits to a bank account, $10,000 is the magic number.

What is the benefit of zero balance account?

Free Benefits All the individual account holders are given some facilities free of cost. These include free passbook and free cash and cheque deposits at any branch. 3. Other benefits The holders of a zero-balance account can get access to a debit card as well as ATM.

How can I convert my saving account to salary account?

You would need to intimate your employer about your existing Bank details, so that the monthly salary credits are routed through the same account. You would also need to intimate your Bank branch for the required change in employer mapping with the Bank.

What is minimum balance in Yes Bank?

Rs. 10000Customize your Savings Account in 4 simple steps by choosing – debit card, pricing options, account packages and Yes Delights. Minimum Balance Requirement is Rs. 10000 (which can be waived off by maintaining a fixed deposit of minimum Rs. 50,000 or recurring deposit of minimum Rs.

Is yes bank good for savings account?

YES BANK’s savings accounts allow you to not only save money but also to put that money to work for you. With every YES BANK savings account, you can earn attractive interest rate*. YES BANK savings account customers receive an ATM-cum-debit card, with access to a wide network of ATMs all over India.

How much can be deposited in zero balance account?

Note that, some zero balance accounts come with certain conditions like one needs to open a Fixed Deposit with the bank, which can range from Rs 50,000 to Rs 2 lakh, or opt for a mutual fund SIP of a certain amount per month.

Which bank is better for salary account?

The following is the list of best 5 salary accounts available in India: Kotak Platina Salary Account. SBI Corporate Salary Package. HDFC Bank Classic Salary Account.

Can I close my bank account with negative balance?

No. You cannot close your bank account with a negative balance. You may only close it after bringing your balance to positive and paying the bank penalties. However, your bank can force closure of your account if you fail to satisfy your debt within the time your bank allows you to do so.

Can we keep zero balance in SBI?

From now on all SBI customers will enjoy the zero balance facility in their savings bank accounts. … Currently, SBI savings bank account customers need to maintain an average monthly balance of Rs 3,000 in metro, Rs 2,000 in Semi urban and Rs 1,000 in rural areas.

Can I deposit 10 lakhs in bank?

If you do fixed deposit more than Rs. 10 lakhs in a financial year – Bank will report to Income Tax authority. If you do paid more than Rs. 10 lakhs to a credit card company in a financial year – Credit Card Company will report to Income Tax authority.

What is bank limit?

Limits are defined by the bank to set up amount and duration based restrictions on the transactions that can be carried out by the user. … Cumulative: It is the collective transaction amount limit for all the transactions that can be performed during a day/month and maximum number of transaction in a day/month.

Can I open a zero balance account in HDFC Bank?

In order to encourage people to make savings and open a Savings Account for this purpose, banks also provide a zero-balance saving account. … You can open a Savings Account, but you don’t have to maintain a minimum balance for it.

Is salary account safe?

The answer is : YES. Having more than 1 account is always advisable. … If you keep all your money in Salary account, which is having a Debit card and Internet banking facility, there is very high chance of spending more money. So to keep unnecessary expenses in check, you should have more than 1 account.

What happens if my bank account balance is zero?

Banks levy penalty for non-maintenance of the minimum account balance in a regular savings account. A zero balance account scores over a regular savings account as you are not required to maintain a minimum balance. When you get yourself a zero balance account, you can keep any amount of money you want.