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What are some good 0 Balance accounts for students ?

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SmartyAadi

SmartyAadi

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Hi there! I am a 18yr old here and want to know what are some good banks for a 0 Balance accounts. As of now, I have opened Kotak 811 for which KYC is gonna be done this evening. I had applied for a HDFC account on 4th of december but yet no intimation from HDFC (Find this to be really pathetic, I applied for 811 day before and they gave account and all and just want to complete KYC today, really fast). Both applications were done online. I also have a minor account in ICICI which I will major but my dad is asking to make one separate account too, so is that possible ?
also, my parents have preferred banking in HDFC, Wealth managment in ICICI etc. so will it be good to link my accounts to theirs in the family banking program ?
Thank you all in advance! 🙂)
 
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I'm really confused which account to open for my younger brother, who will start his college next month.

I need an account with:
1. Either zero or minimal Average Monthly Balance (AMB) requirements.
2. Zero or low debit card charges.
3. Zero charges for everything else (SMS, etc.)

His primary use case will be for UPI and debit card transactions.

He already has an account with SBI though which fulfils the above criteria, but my father keeps his money as investments in his account, so he doesn't want to change the mobile number and email address in that account. Hence, he insists on opening another account for him for regular transactions.

We live in a Metro city, hence most banks have an atrocious AMB requirements we can't maintain.

While Kotak 811 has not been accepting applications, thanks to RBI's bamboo — he is ineligible for IDFC Future First as well, as his university isn't listed there.

Is there any private or a PSU bank which you guys can recommend which fulfils the above criteria?

Thanks in advance.
 
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CosmicCat said:
I'm really confused which account to open for my younger brother, who will start his college next month.

I need an account with:
1. Either zero or minimal Average Monthly Balance (AMB) requirements.
2. Zero or low debit card charges.
3. Zero charges for everything else (SMS, etc.)

His primary use case will be for UPI and debit card transactions.

He already has an account with SBI though which fulfils the above criteria, but my father keeps his money as investments in his account, so he doesn't want to change the mobile number and email address in that account. Hence, he insists on opening another account for him for regular transactions.

We live in a Metro city, hence most banks have an atrocious AMB requirements we can't maintain.

While Kotak 811 has not been accepting applications, thanks to RBI's bamboo — he is ineligible for IDFC Future First as well, as his university isn't listed there.

Is there any private or a PSU bank which you guys can recommend which fulfils the above criteria?

Thanks in advance.
Click to expand...
AU SFB Digital Savings Account
 
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CosmicCat said:
I'm really confused which account to open for my younger brother, who will start his college next month.

I need an account with:
1. Either zero or minimal Average Monthly Balance (AMB) requirements.
2. Zero or low debit card charges.
3. Zero charges for everything else (SMS, etc.)

His primary use case will be for UPI and debit card transactions.

He already has an account with SBI though which fulfils the above criteria, but my father keeps his money as investments in his account, so he doesn't want to change the mobile number and email address in that account. Hence, he insists on opening another account for him for regular transactions.

We live in a Metro city, hence most banks have an atrocious AMB requirements we can't maintain.

While Kotak 811 has not been accepting applications, thanks to RBI's bamboo — he is ineligible for IDFC Future First as well, as his university isn't listed there.

Is there any private or a PSU bank which you guys can recommend which fulfils the above criteria?

Thanks in advance.
Click to expand...
Bob bro - zero balance, fee rupay platinum dc

Else Bob advantage savings account - (2k), any debit card(might require MAB for higher variant, sms alerts fee


Also, Indusind - zero balance, but DC might chargeable. Might require initial funding.


My suggestions,
● HDFC -> 5k - Digi Youth
- (but no need to maintain MAB, for first 6 months, of ac opened online)
- Debit card annual charges from 2nd year
- Benefit - 400 pension every month for wallet reloads

● Axis -> 25k - liberty
- on monthly spends of 25k via upi/dc/netbanking ... non maintaince charges are waived off )
- 5% cb upto 500 every month on liberty dc
- 750 quarterly gyftr voucher on 60k spends/quarter
 
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