New Delhi: A zero-balance account is a type of savings account that doesn’t require you to maintain a minimum balance. It’s ideal for students, salaried individuals, or anyone who wants to avoid the hassle of keeping a minimum balance in their account. When you open a zero-balance account online, you’ll enjoy the same benefits as a regular savings account, such as a debit card, internet banking, and UPI transactions—without the stress of meeting balance requirements.
Steps to Open a Zero-Balance Account Online
– Visit the Bank’s Website or App
Go to the bank’s official website or download its mobile banking app. Look for the section to open a new account.
– Select the ‘Zero-Balance Account’ Option
On the account opening page, choose the option to open a zero-balance account.
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– Enter Your Personal Information
You’ll need to provide:
– Full name
– Date of birth
– Mobile number
– Email ID
– PAN and Aadhaar number (for KYC verification)
– Ensure your details match your documents to avoid any verification issues.
– Complete the KYC Process
Most banks now offer e-KYC, so you can complete this process online. Enter your Aadhaar UID number and authenticate via an OTP sent to your registered mobile number.
– Set Up Internet and Mobile Banking
After KYC verification, you’ll be prompted to set up your internet and mobile banking login credentials. This will allow you to manage your account and perform transactions online.
Advantages of Zero-Balance Accounts
– No Minimum Balance Requirement
– Free Access to Essential Banking Services
– Convenient Online Account Opening
– No Hidden Fees
– Ideal for Budget-Conscious Individuals
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