Zero balance account

Which is the best zero balance account for senior citizens?


Here are three great zero balance account for senior citizens:

IndusInd Bank: A basic small savings account, IndusInd Bank offers the zero-balance savings account which comes with no minimum balance requirement. All citizens above the age of 18 years are eligible to open the account. On opening the account, customers are granted a free debit card, passbook and cheque book. Every month, customers can make 5 free transactions, and can also make free fund transfers through the NEFT and RTGS facilities. Since it is a small savings account, no foreign remittances can be made to the account.

IDFC Bank: To align with the zero-balance savings account offered by banks across the country, IDBI Bank has rolled out the Pratham Savings account. Customers can apply for this account just with their Aadhaar card and can make an application even at a micro ATM. Through this account, customers can subscribe to Government schemes and subsidies. Some of the features of the Pratham Savings Account are free ATM debit card when opening the account, free cheque book and passbook, free mobile and internet banking facilities, and unlimited and free ATM transactions across the country.

RBL Bank: Another small savings account, RBL Bank has rolled out the Abacus Digital Savings Account which can opened online on the bank’s page by just uploading one’s Aadhaar card and PAN card. With this account, customers can invest in fixed deposits and a maximum of Rs.1 lakh can be deposited into this zero-balance savings account. To continue using this savings account, customers have to submit their signatures within exactly one year from opening the account. The Abacus Digital Savings account can be opened instantly with minimum documentation.

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