How would you react if you are offered a bank account where you did not have to maintain a minimum balance and are freed from paying various other charges too? With a smile, surely! Investing in a bank account, which is free of any charge, is quite helpful for citizens as they can remove all their money in times of need. The largest lender State Bank of India (SBI) has on various occasions encouraged its customers to open a basic saving bank deposits (BSBD) account. SBI has even asked customers to open a BSBD account rather than saving accounts which have a certain limit of maintenance and charges. To further lure customers, SBI is now offering free Rupay cards for opening a BSBD account.

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Through its official Twitter account, SBI said, “SBI has the highest number of customers enjoying the most reasonable charges. Open a zero minimum balance Basic Savings Bank Deposit (BSBD) account with us today and get a free RuPay Debit card. For details regarding BSBD Accounts.”

Know all about the BSBD account of SBI.

This bank account is best described as zero-balance account. SBI has the highest number of customers enjoying the most reasonable charges. Open a zero minimum balance Basic Savings Bank Deposit (BSBD) account with SBI and you get a free RuPay Debit card.

 Zero-balance indicates there are no minimum or maximum limit that bank account holders must maintain in this account.

Service charges

  • Basic RuPay ATM-cum-Debit card will be issued free of cost and no annual maintenance charge will be applied.
  • Receipt/ credit of money through electronic payment channels like NEFT/RTGS will be free.
  • Deposit/ collection of cheques drawn by Central/State Government will be free. 
  • No charge on activation of inoperative accounts. 
  • No account closure charges.

It needs to be noted that, the customer cannot have any other Savings Bank Account, if he/she has a Basic Savings Bank Deposit Account. If the customer already has a Savings Bank Account, the same will have to be closed within 30 days of opening a Basic Savings Bank Deposit Account.

Also maximum 4 withdrawals in a month, including ATM withdrawals at own and other Bank's ATMs and transactions through other mode including RTGS/NEFT/Clearing/Branch cash withdrawal/transfer/internet debits/standing instructions/EMI, etc. No further customer debits would be allowed during the month.