Imagine a zero balance account with free cash deposits, free issuance of RuPay Card, no charges on online fund transfers on a bank account, and much more. It’s all possible, folks, with a basic savings bank deposit (BSBD) account. There are many still waiting to avail these services but have not been able to do so. And for them, BSBD account means one heck of a lot.

The account not only allows you to bank with comfort but also gives you the privileges to count on. Let’s have the account on for a full discussion in this article.

The Story Behind Emergence of BSBD Account

The Reserve Bank of India (RBI), with a view to supporting the financial inclusion drive in the country, has taken the initiative of zero balance account with BSBD. In today’s times where financial commitments can be all but long, maintaining a balance in a savings account becomes a headache for most. It’s due to this many have to sweat over the bank account options to finally zero on in one.

However, with BSBD, the course is all set to change as it brings to you a wide range of banking services. As the account is offered by more than one and can be distinct to each other, a comprehensive analysis can be just what you require to make a right choice.

SBI BSBD Account

Arguably the country’s largest bank, SBI invites you to be a part of innovative services offered on its basic savings bank deposit account. Check out BSBD account SBI benefits in the points below.

• No requirement to maintain a specific balance
• No fee on basic ATM-cum debit card issuance
• Free money credit via RTGS or NEFT
• Free deposit or collection of cheques drawn by the state or central government
• No account closure charges  

HDFC Bank BSBD Account

One of the largest private sector banks in India’s banking space, HDFC Bank is helping many open a BSBD account and get benefitted from its services on offer.

• Zero balance account feature
• Issuance of RuPay card at free of cost
• Cash deposits at bank branches and ATMs to be free of cost
• Passbook to be issued free
• A maximum of four free withdrawals permitted
• Free e-mail statement
• Free InstaQuery facility
• Safe deposit locker
• Net banking, mobile banking and phone banking facilities

ICICI Bank BSBD Account

If you apply for a BSBD account at ICICI Bank, the following benefits would be there to avail.

• Zero balance account
• Free RuPay Card issuance
• Free cash deposit & withdrawal
• Free issuance of passbook

Axis Bank BSBD Account

The bank offers basic savings bank deposit account with the following features.

• No need to maintain a balance in the account
• Free RuPay Card issuance
• Free passbook issuance
• SMS alerts on transactions
• E-statements to be given on a monthly basis
• Personal accident insurance cover worth ₹1 lakh in metros

Yes Bank BSBD Account

Catch the benefits of this account below.

• Zero balance account
• Free transfer of funds via net banking, mobile banking and branch
• Free credit of money via NEFT or RTGS
• Cash deposits to be made free
• Four free cash withdrawals in a month
• Free financial and non-financial transactions at YES Bank ATMs
• 5 free transactions at other bank ATMs