HDFC Bank offers Zero Balance Account In HDFC Bank, In order to encourage you to make savings and open a Savings Account for this purpose. Normally people are not aware that zero-balance saving accounts, can be opened in HDFC Bank, However HDF Bank offers three types of Zero Balance Account In HDFC Bank. Here are the details of the saving account here.
#1. Basic Savings Bank Deposit Account (BSBDA) Small Account
HDFC Basic Savings Bank Deposit Account (BSBDA) Small Account is for the person who does not want to maintain the Minimum required Balance in an account. Under this account, you can maintain up to Rs.50,000 balance. Here are the all details about this Zero Balance Account In HDFC Bank.
Features
- There are no Minimum Average Balance Requirements.
- There are no charges Charges applicable on non-maintenance
- Free passbook facility for all individual account holders
- Free cash deposits at branches and ATMs within the prescribed limits of the BSBDA Small account.
- Access your account with your free Rupay Card.
- Free lifetime BillPay
- Free e-mail statements
- If if you do not have complete KYC, you are eligible to open a BSBDA Small Account.
Point to be Noted
- If you are holders of Basic Savings Bank Deposit Account are not eligible to open any other savings account in HDFC Bank.
- if you have any other existing savings account with HDFC Bank, then you required to close such other savings account within 30 days of opening the Basic Savings Bank Deposit Account.
Eligibility criteria
- You should be resident of India.
- Your age must be above 18 years.
- You should not have any other banking relationship with HDFC Bank
- You should have Photo ID proof as per the bank’s acceptable list of documents.
- You should have Address proof as per the bank’s acceptable list of documents.
You can open HDFC Basic Savings Bank Deposit Account (BSBDA) Small Account with minimum document and can submit full KYC document before 12 months of opening account.
Restriction.
This account can be opened without Full KYC so, there are several restrictions for operating these accounts, here all detail, you should check before opening a Small Saving account.
- The total balance in the BSDBA Small account should not exceed Rs.50,000 at any point in time
- The total credits in the BSDBA Small account should not exceed Rs.1,00,000 at any point in time.
- The total withdrawals and transfers in the BSDBA Small account should not exceed Rs.10,000 in a month.
- If the balance in the account exceeds Rs.50,000, no further credit transactions will be permitted in the Small account till such time the balance goes below Rs. 50,000.
- If the aggregate of credits in a financial year exceeds Rs. 1,00,000 no further credit transactions will be permitted in the Small account till the end of that financial year
- If the withdrawals and transfers exceed Rs.10,000 no further debit transactions will be permitted in the Small account till the end of that calendar month
List of KYC Documents
As discussed above, HDFC Basic Savings Bank Deposit Account (BSBDA) Small Account can be opened with a minimum KYC document. Even you have applied for KYC documents, you can open this account with an Application copy of the KYC applied. Here is the list of document which is acceptable as evidence for having applied for a valid KYC within 12 months of account opening:
Documents to be established for proof of identity
| KYC Document | Document to be accepted as evidence |
| Passport ( Should not be Expired) | Copy of application form by Ministry of External affairs – Govt. |
| PAN card | Copy of Form 49A |
| Election/Voter’s card | Copy of Form 6 |
| Driving Licensce – Permenant (except | Copy of application form by RTO |
| Aadhaar card / letter issued by Government of India | Aadhaar Acknowledgement letter issued by UIDAI (Unique Identiifcation Authority of India) |
| NREGA card. | Copy of application form by NREGA |
Documents to be established for proof of Address
| KYC Document | Document to be accepted as evidence |
| Passport [ not expired] | Copy of application form by Ministry of External affairs – Govt. of India |
| Driving license – Permanent(except issued by the Govt of Maharashtra). | Copy of application form by RTO |
| Ration card | Copy of application form / Acknowledgement slip |
| Election card / Voters ID [if it has address]. | Copy of Form 6 |
| Aadhaar card / letter issued by Government of India. | Aadhaar Acknowledgement letter issued by UIDAI (Unique Identiifcation Authority of India) |
| NREGA card. | Copy of application form by NREGA |
| Senior citizens card issued by the State /Central Govt. of India (if it has address). | Copy of application form / Acknowledgement slip issued by the State /Central Govt. of India |
| Domicile certificate with communication address issued by Municipal Corporation. | Copy of application form / Acknowledgement slip issued by Municipal Corporation |
Actual KYC (ID proof, Address proof and Photograph) as per the Bank’s acceptable list of KYC should be summited within 24 months of account opening
You can check all other Terms and condition here
#2.Government Scheme Beneficiary Savings Account
Under Government Scheme Beneficiary Savings Account you can open a Zero balance Account with HDFC Bank. This account is better than HDFC Basic Savings Bank Deposit Account (BSBDA) Small Account. Here are the all details, you should know about.
Features
- Zero Balance account
- Higher cash transaction limits of Rs.10 Lakh/ month
- Personal Accidental Death Cover / Permanent Disability Cover up to 2 Lacs if your Rupay premium debit card is active on POS in the last 30 days.
- 5% Cashback on Utility Payments up-to Rs.50/month on Rupay Premium debit card
- Complimentary Lounge Program (2 Per Quarter) – International and Domestic Lounges on Rupay Premium debit card
- Annual Maintenance Charge (AMC) waived off for the first year for your first Demat Account.
- Free NetBanking, PhoneBanking, and MobileBanking facilities.
- Free passbook and email statement facilities
With this account, you can enjoy Complimentary International and Domestic Lounge benefits free, even if you maintain Zero Balance Account.
Rupay Premium Debit
This account comes with Rupay Premium Debit, This Debit card is very features rich, here is the all details.
- Domestic ATM withdrawal limits: Rs.25,000
- Domestic Shopping limits: Rs.2.75 Lacs per day.
- 20% Instant discount on Swiggy.
- Register for automatic bill payments on Bill-Pay using HDFC Bank Debit Card & receive 5% Cash Back for the first 12 months of registration.
- Max Cash-Back up-to Rs.1800 for a year.
- No cost EMI on leading brands on electronics, furniture, apparel, smartphones.
- 5% cashback debit Card on transacting through PayZapp
Insurance
If you opt for Rupay Premium Debit along with this saving account, you will get benefits of HDFC Insurance.
- Accelerated Personal Accident Death Cover of up to Rs.10 lakhs
- Permanent Disability Insurance of Rs.2 lacs.
- Death Cover by Air / Road / Rail: Sum Insured up to Rs. 10 lac
- International Air Coverage: Rs. 1 Crore.
- Fire & Burglary: Sum assured Rs. 200,000
- Loss of checked baggage: Sum assured Rs.2,00,000
Condition for Accelerated Personal Accident Death Cover
The Basic Cover for Death by Air / Road/Rail is Rs.5 Lacs only. However you are also eligible for an accelerated insurance cover of up-to Rs. lakhs, on the basis his/her Spends using the Debit Card at merchant outlets or online.
Below are the details Insurance cover you will get.
| Spends in One Year | Insurance Benefit | ||
|---|---|---|---|
| Spend on POS/Online or SI on DC registration in the last 30 days | Base Cover | Accelerated Cover | Total Cover |
| Less than 50K | Rs. 5 Lakhs | – | Rs. 5 lakhs |
| 50 K – 1 Lac’s | Rs. 5 lakhs | Rs. 1 lakhs | Rs. 6 lakhs |
| 1 Lac’s – 1.5 Lac’s | Rs. 5 lakhs | Rs. 2 lakhs | Rs. 7 lakhs |
| 1.5 Lac’s – 2 Lac’s | Rs. 5 lakhs | Rs. 3 lakhs | Rs. 8 lakhs |
| 2 Lac’s – 2.5 Lac’s | Rs. 5 lakhs | Rs. 4 lakhs | Rs. 9 lakhs |
| 2.5 L – 3.0 L | Rs. 5 lakhs | Rs. 5 lakhs | Rs. 10 lakhs |
| 3.5 L – 4.0 L (Only for Managed Customer Holding Platinum Debit Card) | Rs. 5 lakhs | Rs. 6 lakhs | Rs. 11 lakhs |
| 4.0 L and above (Only for Managed Customer Holding Platinum Debit Card) | Rs. 5 lakhs | Rs. 7 lakhs | Rs. 12 lakhs |
Eligibility criteria
- You should be a resident of India.
- Minor above the age of 10 years are eligible to open a self-operated minor account and an ATM/Debit card can be issued to the Minor.
- You should not have any other banking relationship with HDFC Bank
- You should have Photo ID proof as per the bank’s acceptable list of documents.
- You should have Address proof as per the bank’s acceptable list of documents.
#3.Basic Savings Bank Deposit Account
Basic Savings Bank Deposit Account, is a Zero Balance account. You do need to maintain any monthly or Quarterly balance. Here is the all details about this saving account.
Features
- Free passbook facility for all individual account holders
- Enjoy free cash deposits at branches and ATMs
- Access your account with your free Rupay Card
- 4 withdrawals free per Month
- Free 25 cheque leaves per financial year
- Free lifetime BillPay
- Free e-mail statements
Eligibility criteria
- Resident Individuals (sole or joint account)
- Hindu Undivided Families
- You should not be having an existing BSBD Account with any other Bank.
- You should not be holding any other Savings account with HDFC Bank.
- Minor above the age of 10 years are eligible to open a self-operated minor account and an ATM/Debit card can be issued to the Minor
Do you have queries about HDFC Zero Balance account ?. Ask queries in comment box below.
FAQ
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Can I open a zero balance account in HDFC Bank?
HDFC Bank’s zero balance savings account can be opened by any resident individual who is not having an existing account with HDFC bank and have some aggregable document. HDFC Bank offers three types of Zero balance account (1).Basic Savings Bank Deposit Account (BSBDA) Small Account (2).Government Scheme Beneficiary Savings Account and (3).Basic Savings Bank Deposit Account
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What is HDFC minimum balance?
The minimum balance of a regular HDFC saving account is Rs.10,000. However, you can open HFDC Zero balance account, so you do not maintain a minimum balance in an account.
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Is there any zero balance account in HDFC ?
Yes. HDFC Banks offers Zero Balance some them are (1).Basic Savings Bank Deposit Account (BSBDA) Small Account (2).Government Scheme Beneficiary Savings Account and (3).Basic Savings Bank Deposit Account
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How to open HDFC zero balance account
A Zero Balance savings account can be opened with HDFC by visiting the bank’s access point or by requesting the doorstep service. You can also request by filling in all information at the HDFC portal.
Yess. We can open ZERO balance account with HDFC Bank