SBI Zero Balance Account

Open SBI Zero Balance Account – The State Bank of India (SBI) is the country’s largest and most trusted public sector bank which offers a variety of savings accounts to suit different financial needs. One of the most popular options is the SBI Zero Balance Account. It is officially known as the Basic Savings Bank Deposit (BSBD) Account. It is designed to make banking more accessible, especially for students and low-income earners. With no minimum balance requirement, a free ATM card is given with full access to digital banking services. As of May 2025, SBI continues to improve the experience with easy online and offline account opening options.

What is an SBI Zero Balance Account?

SBI Zero Balance Account is officially termed as the Basic Savings Bank Deposit (BSBD) Account. It is a savings account that requires no minimum balance. It was introduced to encourage banking among underserved sections of society and it also aligns with the RBI financial inclusion goals and the Pradhan Mantri Jan-Dhan Yojana (PMJDY). The account offers essential banking services, including a free RuPay ATM-cum-debit card and access to SBI’s digital platforms like the YONO app and internet banking. Additionally, SBI offers the BSBD Small Account for individuals without valid KYC documents, with a maximum balance limit of ₹50,000.

Key Features of SBI Zero Balance Accounts

The SBI Zero Balance Account is packed with features that ensure accessibility and convenience:

1. No Minimum Balance: Operate the account with zero balance without any penalty for non-maintenance of a monthly average balance (MAB).

2. Free RuPay Debit Card: A basic RuPay ATM-cum-debit card is issued free of cost, with no annual maintenance charges.

3. Free Withdrawals: Up to four free cash withdrawals per month, including ATM withdrawals at SBI and other banks’ ATMs, branch withdrawals, and AEPS transactions.

4. No Account Closure Charges: Close the account at any time without incurring fees.

5. Digital Banking Access: Enjoy 24/7 banking through the SBI YONO app, internet banking, and mobile banking for fund transfers, bill payments, and UPI transactions.

6. Interest Rate: Earn interest at 2.70% p.a. for balances below ₹10 crore, the same as regular SBI savings accounts, credited quarterly.

7. No Cheque Book: Withdrawals are facilitated via ATMs or withdrawal forms at branches, as no cheque book is provided.

8. BSBD Small Account Option: For those without KYC documents, this variant allows a maximum balance of ₹50,000, monthly withdrawals up to ₹10,000, and annual credits up to ₹1 lakh.

9. Nomination Facility: Mandatory nomination ensures secure transfer of funds to nominees.

10. Passbook Facility: A complimentary passbook is issued, with email statements available on request.

Benefits of SBI Zero Balance Accounts

1. Financial Inclusion: Enables low-income individuals, students, and homemakers to access banking services without financial burden.

2. Cost-Free Banking: No charges for account opening, closure, or non-maintenance of balance, and free SMS alerts since March 2020.

3. Convenience: Access funds anytime via ATMs, UPI, or digital platforms, with no limit on daily UPI transactions (up to ₹1 lakh, as with regular accounts).

4. Nationwide Accessibility: Available at all SBI branches (except specialized branches like Personal Banking or Corporate Account Group branches) across India.

5. Flexibility: Can be operated singly, jointly, or with options like “Either or Survivor” or “Former or Survivor.”

6. Secure Transactions: RuPay card and zero-balance status reduce financial risks, with no overdraft facility to prevent debt.

7. Support for Minors: Accounts like Pehla Kadam and Pehli Udaan allow zero-balance savings for minors, operated by guardians.

Eligibility Criteria

To open an SBI Zero Balance Account, applicants must meet the following criteria:

• Age: 18 years or above (minors can open accounts like Pehla Kadam or Pehli Udaan through guardians).

• Nationality: Indian citizen or resident.

• KYC Documents: Valid identity and address proof (e.g., Aadhaar, PAN, Voter ID, Passport, Driving License, or ration card).

• Existing Accounts: Cannot hold another SBI savings account; any existing savings account must be closed within 30 days of opening a BSBD Account.

• For BSBD Small Account: No KYC documents required, but the account is subject to balance and transaction limits, and KYC must be submitted within 24 months to continue operations.

Documents Required

• Identity Proof: Aadhaar Card, PAN Card, Voter ID, Driving License, or Passport.

• Address Proof: Aadhaar Card, Passport, Voter ID, ration card, utility bill, or bank statement.

• Photograph: Two recent passport-size photographs.

• For BSBD Small Account: Self-attested photograph and signature/thumb impression before a bank official.

• For Minors: Date of birth proof (birth certificate) and parent/guardian’s KYC documents.

How to Open an SBI Zero Balance Account

Online Process

1. Download YONO App: Install the SBI YONO app from Google Play Store or App Store.

2. Select Account Opening: Click “Open Savings Account” and choose “With Branch Visit” or “Insta Plus Video KYC” for a paperless process.

3. Choose KYC Option: Select “Open with Aadhaar using e-KYC (Biometric Authentication)” or “Open with Officially Valid Document (OVD)” if Aadhaar is unavailable.

4. Enter Details: Provide your mobile number, PAN, and OTP received. Fill in personal, income, and educational details.

5. Submit Application: Upload KYC documents or complete Video KYC (for Insta Plus). Receive a Temporary Customer Reference Number (TCRN).

6. Branch Visit (if required): Visit an SBI branch within 30 days with original KYC documents for verification.

7. Account Activation: The account is activated within 3–5 working days post-verification, with a welcome kit (passbook and RuPay card) issued.

Offline Process

1. Visit an SBI Branch: Go to the nearest SBI branch and request a BSBD Account opening form.

2. Fill Form: Provide personal details, nominee information, and attach KYC documents and photographs.

3. Submit Documents: Hand over the form and documents to bank officials.

4. Verification: The bank verifies the documents, which may take 3–5 working days.

5. Account Activation: Receive a passbook, RuPay debit card, and account details upon approval.

Fees and Charges

• Account Opening/Closure: Free.

• RuPay Debit Card: Free issuance and no annual maintenance fee.

• Withdrawals: Four free cash withdrawals per month; additional withdrawals incur charges (₹10–₹20 per transaction, plus GST).

• Cheque Leaves: Not applicable, as no cheque book is issued.

• Account Statement: ₹50 per statement for physical copies; email statements are free.

• Debit Card Replacement: ₹100 for reissue of a lost card.

• SMS Alerts: Free since March 2020.

• GST: 18% applicable on all chargeable services.

Transaction Limits (BSBD Small Account)

• Maximum Balance: ₹50,000 at any time.

• Monthly Withdrawals: Up to ₹10,000.

• Annual Credits: Up to ₹1 lakh.

• UPI Transactions: Same as regular accounts (₹1 lakh per day), but counted within the four free monthly withdrawals.

Frequently Asked Questions (FAQs)

1. What is the SBI Zero Balance Account?
   The SBI Zero Balance Account, or Basic Savings Bank Deposit (BSBD) Account, is a savings account with no minimum balance requirement, offering free RuPay debit cards and up to four free monthly withdrawals.

2. Can I open an SBI Zero Balance Account online?
   Yes, you can open it via the SBI YONO app using Aadhaar-based e-KYC or Video KYC. A branch visit may be required for document verification unless using Insta Plus Video KYC.

3. What is the interest rate on an SBI Zero Balance Account?
   The interest rate is 2.70% p.a. for balances below ₹10 crore, credited quarterly, the same as regular SBI savings accounts.

4. Can I have another savings account with SBI if I open a Zero Balance Account?
   No, you cannot hold another SBI savings account. Any existing savings account must be closed within 30 days of opening a BSBD Account.

5. What are the withdrawal limits for the SBI Zero Balance Account?
   Four free cash withdrawals per month (including ATM, branch, and UPI). For BSBD Small Accounts, monthly withdrawals are capped at ₹10,000, with a maximum balance of ₹50,000.

6. Is a cheque book provided with the SBI Zero Balance Account?
   No, cheque books are not provided. Withdrawals are made via ATMs or withdrawal forms at branches.

7. Who can open an SBI BSBD Small Account?
   Individuals above 18 without valid KYC documents can open it, but they must submit KYC within 24 months to continue operations. The account has a ₹50,000 balance limit.

8. What happens if my BSBD Small Account exceeds ₹50,000?
   No further transactions are permitted until the balance is brought below ₹50,000, or the account is converted to a regular savings account with full KYC.

9. Can students open an SBI Zero Balance Account?
   Yes, students above 18 can open a BSBD Account. Minors can open Pehla Kadam or Pehli Udaan accounts through guardians, which are also zero-balance accounts.

10. How can I contact SBI for Zero Balance Account queries?
    Call the toll-free customer care number 1800 11 2211, visit www.onlinesbi.sbi, or contact your nearest SBI branch.

For more information – https://sbi.co.in/web/personal-banking/accounts/saving-account/savings-bank-account

Also visit : https://postofficefd.com/sbi-health-insurance-policy/