True Zero Balance Accounts

[aravb]

In this thread i will list True Zero Balance Accounts given by various banks. This list is aimed to help students and people who want a backup account without spending a penny.

True Zero Balance meaning here is:
No SMS/Debit Card/Maintenance/Subscription Charges
You'll spend Net 0 Rs. if you open them.

1. Kotak 811

Truly the best zero balance account ever

• Free Virtual Debit Card
• Pre-Approved Credit Card for everyone

2. Slice Savings Account (by North East Small Finance Bank)

A great account let's see how long can they sustain the benefits

• Free Virtual Debit Card
• RBI repo rate linked Interest Rate (currently 5.5% interest rate)
• Daily Interest Credit

3. IDFC Future First Savings Account (College ID Needed)

An excellent account with no charges for lifetime once opened.

(Note: The account can only be opened via branch and the staff will be really non cooperating. Your institute must also be in their list of valid institutes. The account is under Salary Accounts in their Tab)

• Lifetime Free Physical Debit Card
• No IMPS charges
• No Unnecessary promotions

4. Canara Aspire Savings Account (Age 18-28)

Excellent Benefits for Students. (Do not Avail Coursera Course to keep MAB 0)

• Free Physical Debit Card (upto Age 28)
• 0.5% Concession on Education Loan
• Many offers on Debit Card (BOGO on BMS)

5.Bank of Baroda LITE/ Bro Account (Avoid/Block Physical Debit Card)

Bro Account is good for students (Age 16-25)

• Concession on Education Loan
• Offers by Bank of Baroda

6. Galgal (By Cosmos Bank) (Limited Service Area)

Seems like a good backup option

• Free Virtual Debit Card
• Focus on Students and Saving

7. State Bank of India Savings Account (Block Physical Debit Card)

Decent account available country wide. Won't recommend if you rely on UPI

• UPI downtime complementary
• Can be opened via VKYC
• Physical DC is FYF (First Year Free). Block it if you don't need it.

I am marking the post as Wiki if you have other accounts to add please feel free to do so.

 

[Sourabh_13]

Add IDFC Future First Savings Account

 

[TheTrickySid]

Add IDFC Future First Savings Account

Discontinued

Fcuk 3 words

 

[sovon]

Kotak is not available for every pincode, which is the main drawback

 

[aravb]

Add IDFC Future First Savings Account

I don't see the account anymore on their website and branch staff is equally persistent to not open it. + limited institutes in the list

 

[Anindya98]

Add Niyo Global 0 Balance Account

 

[aravb]

Add Niyo Global 0 Balance Account

AQB of 5000 else DC Charges applicable. Not True Zero Balance anymore.

 

[Deleted member 18439]

Bob BRO savings account - blocking physical debit card and getting virtual card
All savings account of SBI - with virtual debit card after blocking physical debit card
Canara Aspire.

 

[ccdc]

Jio Payments Bank account....free virtual DC...

 

[aravb]

Bob BRO savings account - blocking physical debit card and getting virtual card
All savings account of SBI - with virtual debit card after blocking physical debit card
Canara Aspire.

Interesting

Canara Aspire seems like True Zero Balance Account (age limit seems generous)

For the rest accounts in which you are recommending blocking physical debit card
-Are there any inital charges before your Virtual Card is generated?
-Are SMS or other kinds of charges there (if yes can they be avoided/closed?)

 

[Anindya98]

AQB of 5000 else DC Charges applicable. Not True Zero Balance anymore.

SBM one is 0 Balance
DCB One needs 5000 AQB
Using Both
Equitas One also has no charges for older customers.

 

[Deleted member 18439]

Are there any inital charges before your Virtual Card is generated?
-Are SMS or other kinds of charges there (if yes can they be avoided/closed?)

No
No
FYF debit card issued. Can be blocked by mobile app.
No sms charges

 

[aravb]

SBM one is 0 Balance
DCB One needs 5000 AQB
Using Both
Equitas One also has no charges for older customers.

Check Email for your SBM account on 1st April.

 

[aravb]

No
No
FYF debit card issued. Can be blocked by mobile app.
No sms charges

Was avoiding accounts where you have to block the Physical Debit Card but if it becomes a True Zero Balance Account then gotta Add it to the list. Thanks

 

[Anindya98]

Jupiter one is 0 Balance for older customer not sure about the new.

 

[Anindya98]

Check Email for your SBM account on 1st April.

Share the email heading.

 

[aravb]

Share the email heading.

Devaluation Thread 'Niyo Global to charge annual fees.'

Mar 31, 2025

With effect from 1st July 2025, an Annual Fee of ₹423 + GST shall be applicable on your SBM Niyo Global Debit Card if you have completed one year as of July 1, 2025.

Please note that the annual fee of your card may be waived in case the average balance of Rs. 5,000 or more is maintained across SBM Niyo Savings Account and SBM Niyo Fixed Deposits (principal amount), during the three months preceding the anniversary month.

Details are as follows:

For customers completing 1 year on or before July 31, 2025: The Debit Card Annual Fee may be waived subject to combined average balance of...

• telescope
• annual global niyo niyo global
• Replies: 16
• Forum: Debit Card

Jupiter one is 0 Balance for older customer not sure about the new.

Not for New or even Old i guess. Making Wiki for new.

 

[SureShot]

BoB Lite is a zero balance acc with virtual debit card, no other charges at all.

 

[rafzy]

Share the email heading.

Here you go!!

 

[jr001]

Kotak is not available for every pincode, which is the main drawback

I have been trying to get it for the past 5 years still they are not available in my city