Almost all major Indian banks now offer Basic Savings Bank Deposit Accounts (BSBDA), or in other words, a zero balance account. No penalty will be levied and you can use your BSBDA account as a normal savings account.
A zero balance Savings Account is one where the account holder is free to operate the account without the need to maintain a minimum balance. This type of Savings Account is offered by banks under the Pradhan Mantri Jan Dhan Yojana (PMJDY) – a scheme from the Government of India with a mission of financial inclusion.
Under the Jan Dhan account, the following documents are accepted.
• Voter’s Identity Card issued by Election Commission of India.
• Job card issued by NREGA duly signed by an officer of the State Government.
• Letter issued by the Unique Identification Authority of India containing details of name, address and Aadhaar number, or
• Any other document as notified by the Central Government in consultation with the Regulator, provided that where simplified measures are applied for verifying the identity of the clients the following documents shall be deemed to be officially valid documents:
• Identity card with applicant’s photograph issued by Central/State Government Departments, Statutory/Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Banks, and Public Financial Institutions;
• Letter issued by a gazetted officer, with a duly attested photograph of the person.
You can get a letter from a gazetted officer for your domestic help and he/she can open a Jan Dhan account.
Want to check out Savings Accounts? Click here.