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True Zero Balance Accounts

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The first post in this thread is a WikiPost, and can be edited by anyone with the appropriate permissions.

aravb

TF Buzz
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 6.25% interest rate)
-Daily Interest Credit

3. 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

4.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

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

Seems like a good backup option
-Free Virtual Debit Card
-Focus on Students and Saving

6. 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

I am marking the post as Wiki if you have other accounts to add please feel free to do so.
 
Last edited:
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.
 
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?)
 
Share the email heading.
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.
 
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The first post in this thread is a WikiPost, and can be edited by anyone with the appropriate permissions.
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