Earlier, all financial transactions took place in person. There was no formal record of them, leaving a wide scope of foul play. Many individuals lost their lifelong earnings because of this. However, with the introduction of the banking and financial system, you can rest assured of secure and seamless transactions. Furthermore, all transactions are overseen by the Reserve Bank of India, eliminating the slightest scope of fraud.

A Bank Account is a prerequisite for banking. Therefore, open a Bank Account as soon as possible. There are many types of Bank Accounts you can open. Each account is suitable for meeting specific banking requirements. So, consider your banking requirements to open an appropriate account. If you have a basic banking requirement, you can consider opening a Savings Account. Its functions are simple, allowing you to conduct day-to-day banking hassle-free.

What is the Zero Balance Savings Account?

Today, leading banks offer different types of Savings Accounts. Each account has unique eligibility criteria, features, and benefits. These accounts perfectly cater to your dynamic banking and financial needs.

A Zero Balance Savings Account does not mandate maintaining a minimum balance. The bank will not charge you a non-maintenance penalty even if your account balance becomes zero. You can transact freely and not incur unnecessary penalties. Consider online Savings Account opening Zero Balance to enjoy incredible convenience and freedom with banking!

How do you open a Zero Balance Savings Account?

The procedure to open a Zero Balance Savings Account is quite simple, as mentioned below:

·         Visit the bank or go online

You can open the Zero Balance Savings Account by visiting the nearest bank branch or logging on to the online banking platforms.

You can quickly locate the nearest branch by running a Google search or using the branch locator online tool on the bank’s website. The bank's online banking platforms are readily accessible to all.

·    Fill out the account opening form

There are different forms for each Bank Account. So, obtain the online Savings Account opening Zero Balance form and fill it out. Make no mistake while filing the form. The bank refers to it for verification and stores it for their records.

·    Submit documents

To open an account, you need to submit a set of documents. The list of documents is on the bank's website. If you plan to open a Bank Account in person, you need to submit a copy of these documents to the bank branch. If you are opening an account online, you must upload scanned documents on the Online Banking platform.

·    Complete KYC

You need to complete the Know Your Customer requirement mandatorily by visiting the nearest bank branch or using Video KYC.