Zero balance savings accounts from major PSU banks in India; SBI, Bank of Baroda, Central Bank of India, BOI and more; features, benefits and how to apply

Bank of Baroda bob LITE Savings Account

Features:

• Offered to salaried class people, businessmen, self-employed, professionals, business executives and homemaker 
• Cash deposit with debit card up to Rs.2,00,000/- (2 Lacs) per day 
• Card less transaction (by feeding account number) up to Rs. 20,000/- per day 
• Free passbook 
• Free cheque book of 30 leaves in a financial year  

Documents

• Permanent Account Number (PAN)/ FORM60 
• Officially Valid Documents (OVDs) for Accounts of Individuals 
• Passport 
• Driving license with photo 
• Proof of possession of Aadhaar Number 
• Voter’s Identity Card issued by Election Commission of India, 
• Job card issued by NREGA duly signed by an officer of the State Government 
• Letter issued by the National Population Register containing details of name and address 

​Bank of India PMJDY Account

Features:

• Accidental insurance cover of Rs. 2 Lakh 
• Free Rupay Debit Card 
• Easy Overdraft Facility 
• Access to pension and insurance products 

Documents

• Passport 
• Proof of possession of Aadhar number 
• Voter Identity Card issued by the Election Commission of india 
• Job Card issued by the NREGA duly signed by an officer of State Government 
• Also latest photograph 
• PAN/form 60 required while undertaking transactions as per the provisions of income tax Rule 114B 

Bank of Maharashtra Lok Bachat Yojana Account

Features:

• Initial Deposit: Zero Balance 
• No minimum balance required 
• 1 chequebook of 10 leaves provided free of cost 
• Rupay Debit Card available 

Document

• Duly filled application form 
• 3 passport-sized photographs 
• Employee ID card 
• Latest 3 months' salary slips 
• Proof of Salary details 
• Address proof and ID proof (As per KYC norms) 

Central Bank of India CENT-YUVA – Zero Balance Account

Features:

• Exclusively for students aged 18 to 30 years.
• Zero balance account, no maximum balance limit.
• Digital account opening.
• M-Passbook, mobile banking, SMS, and internet banking are free.
• Rs. 2 lakh personal accident insurance under PMSBY scheme.

​Documents

• PAN Card, Aadhaar Card, Plain paper and pen for signature.

Indian Bank BSBDA Account

Features:

• Nil average monthly balance.
• 20 free cheque leaves annually.
• No limit on deposits.
• 4 withdrawals allowed per month.

Documents

• Passport, Aadhaar, Voter ID, NREGA Job card, Latest photograph, PAN/Form 60.

Indian Overseas Bank IOB Freedom Savings Account

Features:

• No minimum balance required.
• Free Rupay Platinum Debit Card.
• Rs. 50,000 per day ATM withdrawal limit.
• Rs. 1.25 Lakh POS limit with Rupay Platinum Debit Card.
• Rs. 10 Lakh personal accident insurance for the primary account holder.

Documents

• Original PAN Card, Aadhaar Card, Aadhaar-linked mobile number, Paper for signature during Video-KYC.

Punjab & Sind Bank Basic Saving Bank Deposit Account (BSBDA)

Features:

• No minimum balance required.
• Cash deposits and withdrawals at branches and ATMs.
• Four withdrawals allowed per month, including ATM withdrawals.
• ATM card or ATM-cum-Debit Card available.

Documents

• e-KYC with Aadhaar number.

Punjab National Bank Basic Saving Bank Deposit Account

Features:

• Single or joint account, no minimum balance required.
• Free 20-leaf cheque book annually.
• No limit on deposits, four withdrawals allowed per month.
• Free Debit/ATM Card.

Documents

• PAN Card, Voter ID, Driving license, NREGA Job card, UIDAI letter with Aadhaar details.

State Bank of India Savings Bank Account

Features:

• No monthly average balance required.
• No limit on maximum balance.
• Mobile and internet banking via YONO App.
• SBI Quick Missed call facility.
• First 10 cheque leaves free annually.

Documents

• ​e-KYC with Aadhaar and PAN.

UCO Bank - UCO No-frills Savings Bank Account

Features:

• No monthly average balance required.
• Minimum initial deposit of Rs. 5.
• Up to 25 debit entries free per half-year.
• Available in all branch categories.

Documents

• Aadhaar, PAN, EPIC Card.

Union Bank

Features:

• Account opening via internet banking, Vyom App, or branch.
• Classic debit card with no issuance charges.
• Five free ATM transactions per month.
• Rs. 25,000 per day ATM cash withdrawal limit.

Documents

• e-KYC with Aadhaar and PAN.