A zero balance savings account allows you to enjoy all essential banking services without the pressure of maintaining a minimum balance. In 2026, Indian banks are offering smarter zero balance options with digital onboarding, free debit cards, and competitive interest rates.
In this guide, we compare the best zero balance savings accounts in India based on features, eligibility, interest rates, and who each account is best suited for—so you can choose the right one with confidence.
What Is a Zero Balance Savings Account?
A zero balance savings account is a bank account where you are not required to maintain a minimum balance. These accounts are ideal for students, first-time account holders, freelancers, and anyone who prefers flexibility.
Key Benefits
- No minimum balance requirement
- Free or low-cost debit card
- Digital banking access
- Easy online account opening
Top Zero Balance Savings Accounts in India (2026)
1) SBI Basic Savings Bank Deposit Account
The State Bank of India offers a reliable zero balance account with nationwide access and essential banking features.
Features
- No minimum balance
- Free ATM withdrawals at SBI ATMs
- Internet and mobile banking
Best For: Salary earners, rural customers, and SBI loyalists.
2) HDFC Zero Balance Account (Basic Variant)
HDFC Bank provides a basic zero balance option with premium digital services and branch support.
Features
- Zero balance facility
- HDFC debit card
- Mobile and net banking
Best For: Urban users who prefer private banks.
3) ICICI Bank Basic Savings Account
ICICI’s zero balance account focuses on digital convenience with a strong app experience.
Features
- No minimum balance
- iMobile Pay app access
- UPI and bill payments
Best For: Tech-savvy customers.
4) Axis Bank ASAP Account
Axis ASAP is a fully digital zero balance account with quick online activation.
Features
- Instant account opening
- Video KYC
- Virtual debit card
Best For: Students and freelancers.
5) Kotak 811 Zero Balance Account
Kotak 811 is one of India’s most popular digital zero balance accounts.
Features
- Zero balance
- High digital transaction limits
- Fast online KYC
Best For: Online shoppers and digital users.
Comparison Table: Zero Balance Accounts (2026)
| Bank | Minimum Balance | Debit Card | Digital Banking |
|---|---|---|---|
| SBI | ₹0 | Yes | Yes |
| HDFC | ₹0 | Yes | Yes |
| ICICI | ₹0 | Yes | Yes |
| Axis | ₹0 | Virtual | Yes |
| Kotak 811 | ₹0 | Yes | Yes |
How to Open a Zero Balance Savings Account Online
- Choose a bank
- Visit the official website or mobile app
- Complete Video KYC
- Submit basic documents (Aadhaar, PAN)
- Account activated instantly or within 24 hours
Who Should Open a Zero Balance Account?
- Students
- Freelancers & gig workers
- Low-income earners
- First-time bank users
If you want flexibility without penalties, a zero balance savings account is an excellent choice.
FAQs
Is zero balance account really free?
Yes. You are not charged for maintaining balance, though some services may have fees.
Can I receive salary in a zero balance account?
Yes, many banks allow salary credits.
Does zero balance account earn interest?
Yes, interest rates are similar to regular savings accounts.
Final Verdict
Choosing the best zero balance savings account in India depends on your banking needs. For reliability, SBI is strong. For digital convenience, Kotak 811 and Axis ASAP stand out. Compare features and pick what suits your lifestyle.