Is SBI zero balance savings account available?
You can open a zero balance savings account with SBI under the Pradhan Mantri Jan Dhan Yojana (PMJDY). For this account, you
Have to maintain zero minimum balance.
Get interest on deposits as per prevailing bank rates.
Get accidental insurance cover of Rs.1 lakh.
Get direct benefit transfer from Government schemes credited to this account.
Get overdraft facility after 6 months of satisfactory operation.
Get RuPay debit card and free accident insurance cover.
General terms & conditions for Zero Balance savings account opened Under PMJDY
The total credit in the account should not exceed Rs.1 lakh in a given financial year.
The debit balance should not exceed Rs.50,000 at any point of time.
The account holder should submit all documents as per KYC guidelines from RBI.
Other terms that are specific to the bank where the account is being held.
Looking for a Fixed Deposit? Click here