Comparison of Zero Balance Savings Account

Today i will give you some tips to choose the most suitable Bank for your needs in India.


Common Free Features: Net Banking, SMS Alerts, Mobile and Phone Banking, 4% interest rate, Free (Or upto Rs. 100/yr) Debit Card

ICICI Basic Savings Bank Account
Deposits : Free at base branch
Withdrawals : 4 Free at base branch (Rs. 90/withdrawal, thereafter)
Chequebook : 15 free per year, additional at Rs. 30 per 15 leaves
Debit Card Limit : 10k
Extra features/benefits : Facebook Banking

Axis Basic Savings Account
Deposits : Free upto 1lac (All Axis branches) (Rs. 4/1k, or 100, whichever higher, thereafter)
Withdrawals : 4 Free (Including all ATMs and Axis branches) (Rs. 4/1k, or 100, whichever higher in branches, 20 from ATMs, 9.55 on inquiries)
Chequebook : 1/yr
Debit Card Limit : 40k
POS Limit : 100k
Extra features/benefits : One of the largest (urban) ATM network, great offers on online shopping

HDFC Basic Savings Bank Deposit Account
Deposits : Free at branches
Withdrawals : 4 Free at branches (Rs. 50/txn, thereafter) and ATMs (5 free at Non-HDFC ATMs, Rs. 20/txn and Rs. 8.5/inquiry, thereafter)
Chequebook : First free, subsequent at Rs. 5/leaf
Debit Card Limit : Platinum (At Rs. 500/yr, 1lac withdrawal, 1.25lac shopping), Titanium (At Rs. 200/yr, 50k withdrawal, 75k shopping), Standard?
Additional Features/Benefits : One of the largest (urban) ATM network, great offers on online shopping, InstaQuery, BillPay

Common documents required for account opening:
1. Copy of Pan Card
2. Cancelled cheque from another bank account of yours
3. 2 Passport Size Photographs
4. Copy of Address Proof (Voter ID, Passport, etc)

Note: Please verify these details before you open an account, since they change from time to time. I chose HDFC for the higher debit card limit, better offers, and better ATM network.