Looking for a Zero Annual Charges Bank Account

[delbinbabu]

Hi everyone,

I’m looking for a new bank account that doesn’t have any annual charges, such as:

Debit card charges (I’m open to blocking/canceling the physical card or using a virtual debit card).

SMS charges.

Account maintenance charges.


I don’t mind a charge for not maintaining the average monthly balance. I’m okay with keeping an average monthly balance of up to ₹50,000 if required.

I already have accounts with SBI, BOB, Jio Payments Bank, and HDFC. Looking for suggestions on banks that meet my requirements.

Thanks in advance!

 

[s1t2y3a3m6]

Hi everyone,

I’m looking for a new bank account that doesn’t have any annual charges, such as:

Debit card charges (I’m open to blocking/canceling the physical card or using a virtual debit card).

SMS charges.

Account maintenance charges.


I don’t mind a charge for not maintaining the average monthly balance. I’m okay with keeping an average monthly balance of up to ₹50,000 if required.

I already have accounts with SBI, BOB, Jio Payments Bank, and HDFC. Looking for suggestions on banks that meet my requirements.

Thanks in advance!

S B I

 

[Pissant]

IDFC First is good in that sense

 

[delbinbabu]

S B I

I already have sbi and I use it to send and receive money that are related to my work.

 

[delbinbabu]

IDFC First is good in that sense

Yeah, IDFC is on my mind. I'm thinking about the 10K minimum balance account. What about the Kotak Edge account? Initially, I considered the 811 zero balance account, but it's not available in my pincode.

 

[Raavan]

Hi everyone,

I’m looking for a new bank account that doesn’t have any annual charges, such as:

Debit card charges (I’m open to blocking/canceling the physical card or using a virtual debit card).

SMS charges.

Account maintenance charges.


I don’t mind a charge for not maintaining the average monthly balance. I’m okay with keeping an average monthly balance of up to ₹50,000 if required.

I already have accounts with SBI, BOB, Jio Payments Bank, and HDFC. Looking for suggestions on banks that meet my requirements.

Thanks in advance!

If you are under 25 then bob bro account could be great, block physical debit card in 11th month and continue using virtual card.
If you are above 25 then IDFC bank fulfills your requirement.

 

[delbinbabu]

If you are under 25 then bob bro account could be great, block physical debit card in 11th month and continue using virtual card.
If you are above 25 then IDFC bank fulfills your requirement.

Thank you for the suggestion. I already have an account in BoB, so I can't open a BoB Bro account as per the terms and conditions. I'm considering IDFC and need one more bank account from another bank.

 

[Pissant]

Yeah, IDFC is on my mind. I'm thinking about the 10K minimum balance account. What about the Kotak Edge account? Initially, I considered the 811 zero balance account, but it's not available in my pincode.

IDFC is leagues ahead of Kotak in terms of customer care and App/Net-Banking. Kotak is good with their sweep-in.

 

[delbinbabu]

IDFC is leagues ahead of Kotak in terms of customer care and App/Net-Banking. Kotak is good with their sweep-in.

I mean, are there any charges on the Kotak Edge account?

 

[jeevanreddy58]

Better put what Accounts you already have.. so that other banks can be suggested

 

[delbinbabu]

I already have accounts with SBI, BOB, Jio Payments Bank, and HDFC. Looking for suggestions on banks that meet my requirements.

@jeevanreddy58 I already mentioned it in my post.

 

[Mr. BeanMr. Bean is verified member.]

I already have accounts with SBI, BOB, Jio Payments Bank

You pretty much answered your question.

Anyway, currently, Slice savings account by North East SFB is free of traditional charges. On top of that, it offers 6.25% interest on SB account balance. Provides 9% interest on FD as well. Things can change at any time in the near future, though. Just download Slice app and go through the process. You may be signed up for wallet initially. In this case, just do a few transactions, then within a few days, you'll get the option to upgrade to SB account.

If you want referral, please let me know. 😉

Know more about Slice savings account here...

Thread 'Slice Wallet Upgrade To Savings Account'

Jan 1, 2025

Slice has introduced a new feature allowing selected users to upgrade their Slice Wallet into a Savings Bank Account.This move follows its merger with North East Small Finance Bank.

---

Key Features of the Upgraded Savings Account​

1. Zero Balance Account
   • You won’t need to maintain a minimum balance in this account.
   • There are also no Annual Maintenance Charges (AMC), making it a free-to-maintain account.
2. 6.25% p.a. Interest Rate
   • A flat 6.25% annual interest rate, which is quite attractive compared to the 3-4% most...

• varun__goel_
• account savings savings account upgrade wallet
• Replies: 186
• Forum: Bank Account

• 
• 
• 

 

[Trump]

Hi everyone,

I’m looking for a new bank account that doesn’t have any annual charges, such as:

Debit card charges (I’m open to blocking/canceling the physical card or using a virtual debit card).

SMS charges.

Account maintenance charges.


I don’t mind a charge for not maintaining the average monthly balance. I’m okay with keeping an average monthly balance of up to ₹50,000 if required.

I already have accounts with SBI, BOB, Jio Payments Bank, and HDFC. Looking for suggestions on banks that meet my requirements.

Thanks in advance!

1) IDFC Future First A/c - No strings attached and meets all your requirements.

2) Kotak Privy League Platinum A/c - Meets all your requirements but you need 5 lakh initial funding. I negotiated with my RM last year in May 2024 and got it with 2 Lakhs initial funding.

 

[delbinbabu]

You pretty much answered your question.

Anyway, currently, Slice savings account by North East SFB is free of traditional charges. On top of that, it offers 6.25% interest on SB account balance. Provides 9% interest on FD as well. Things can change at any time in the near future, though. Just download Slice app and go through the process. You may be signed up for wallet initially. In this case, just do a few transactions, then within a few days, you'll get the option to upgrade to SB account.

If you want referral, please let me know. 😉

Know more about Slice savings account here...

Thread 'Slice Wallet Upgrade To Savings Account'

Jan 1, 2025

Slice has introduced a new feature allowing selected users to upgrade their Slice Wallet into a Savings Bank Account.This move follows its merger with North East Small Finance Bank.

---

Key Features of the Upgraded Savings Account​

1. Zero Balance Account
   • You won’t need to maintain a minimum balance in this account.
   • There are also no Annual Maintenance Charges (AMC), making it a free-to-maintain account.
2. 6.25% p.a. Interest Rate
   • A flat 6.25% annual interest rate, which is quite attractive compared to the 3-4% most...

• varun__goel_
• account savings savings account upgrade wallet
• Replies: 186
• Forum: Bank Account

• 
• 
• 

Thank you for the suggestion. I already have a Slice wallet, so I don't think the referral code has any use. I uninstalled it because I wasn’t using it much. I will reinstall it and wait for the upgrade.

 

[delbinbabu]

1) IDFC Future First A/c - No strings attached and meets all your requirements.

2) Kotak Privy League Platinum A/c - Meets all your requirements but you need 5 lakh initial funding. I negotiated with my RM last year in May 2024 and got it with 2 Lakhs initial funding.

For Kotak, an initial funding of 2 or 5 lakhs is hard for me as of now. I would be okay with up to 1 lakh as initial funding or minimum balance. Do the other Kotak bank accounts with 10k, 25k, or 50k minimum balance have any charges?

 

[quino]

2) Kotak Privy League Platinum A/c - Meets all your requirements but you need 5 lakh initial funding. I negotiated with my RM last year in May 2024 and got it with 2 Lakhs initial funding.

just IP & forget? dont need to maintain any balance?

 

[Trump]

just IP & forget? dont need to maintain any balance?

Y E S

For Kotak, an initial funding of 2 or 5 lakhs is hard for me as of now. I would be okay with up to 1 lakh as initial funding or minimum balance. Do the other Kotak bank accounts with 10k, 25k, or 50k minimum balance have any charges?

Yes they do have charges. With 1 Lakh IP you can go for ICICI Privilege A/c. No charges

 

[Mr. BeanMr. Bean is verified member.]

I don't think the referral code has any use

I recently referred a person to slice. While the referral CB (for both the other person and me) were minimal, the consecutive cashbacks were more than what I used to get.

 

[delbinbabu]

Y E S

Yes they do have charges. With 1 Lakh IP you can go for ICICI Privilege A/c. No charges

Thank you for the suggestions. I will look into icici account.

 

[gowthamv]

Y E S

Yes they do have charges. With 1 Lakh IP you can go for ICICI Privilege A/c. No charges

How long does the account remain as Privilege?

My nearest branch asked me to deposit 1L as Initial funding and after that, the account will remain Zero MAB account for lifetime..

Can i believe them? Is there any info in netbanking/imobile where it says MAB is 0?