Online Banks

Zero Balance Current Account Opening Online Banks

Zero-balance current accounts and zero-balance saving banks have now become the future of banking. With the advent of technology, online banking has become an integral part of our lives. With just a few clicks, we can now access our bank accounts, manage our finances, and even open new accounts from the comfort of our homes. One such account that has gained immense popularity in recent years is the Zero Balance Current Account.

Banks providing a  zero-balance current account  in India

In India, several banks offer zero-balance current accounts that can be opened online. These make the process of opening a current account much easier and more convenient.

Here is a list of some of the top banks offering zero-balance current account opening online in India.


HDFC Bank offers a zero-balance current account that can be opened online. The account is called the “Basic Savings Bank Deposit Account (BSBDA)” It also provides a range of features and benefits, including a free checkbook and unlimited free transactions.

State Bank of India (SBI)

SBI offers a zero-balance current account known as the “Basic Savings Bank Deposit Account (BSBDA)” The account provides free transactions and a free RuPay Debit Card.


ICICI Bank called its zero-balance current account the “ICICI Bank Paytm First Bank Account” The account can be opened online and provides free transactions and a free RuPay Debit. It also provides a Card and a cashback of up to Rs. 1,000 per year.

Kotak Mahindra Bank

Kotak Mahindra Bank offers a zero-balance current account known as the “811 Digital Bank Account” The account provides free transactions, a free RuPay Debit Card, and a cashback of up to Rs. 2,500 per year.

Axis Bank

Axis Bank offers an “Axis ASAP Account” that can be opened online. The account provides free transactions, a free RuPay Debit Card, and a cashback of up to Rs. 5,000 per year.

How to open a zero balance current account online

Research and compare different banks

The first step to opening a current account online is to research and compare different banks that offer this service. Look for banks that have a good reputation, offer convenient online banking services, and have low or no minimum balance requirements. A zero-balance current account means that you are not required to maintain a minimum balance in your account.

Check the eligibility criteria

Before applying for a current account, it’s essential to check the bank eligibility criteria. Each bank has different criteria, such as age, income, nationality, etc. Ensure that you meet the bank’s eligibility criteria before proceeding to the next step.

Gather the necessary documents

To open a current account online, you will need to provide essential documents, such as a government-issued ID, proof of address, PAN card, and a recent passport-sized photograph. It is paramount to keep these documents handy before applying for the current account.

Fill out the online application form

Once you have gathered all the necessary documents, fill out the online application form. The form will typically ask for personal information, contact details, and your current financial situation. Fill out the form carefully and ensure that all the information provided is accurate.

Upload the necessary documents

You will need to upload the necessary documents. Ensure that the documents are clear and legible. Once you have uploaded the documents, the bank will verify them and process your application.

Wait for approval

After submitting your application, you will need to wait for approval from the bank. This process can take anywhere from a few hours to a few days. Once your application is approved, the bank will send you a welcome kit that includes your account details and instructions on how to activate your online banking services.

Activate online banking services

You can activate your online banking services by following the instructions provided in the welcome kit. These will allow you to manage your current account online, make and receive payments, and access various other banking services.

The benefits of opening a zero-balance current account

Online banks typically offer a wide range of features and benefits, such as high-interest savings accounts, 24/7 customer support, and mobile banking apps. Moreover, online banks are known for offering lower fees and better interest rates compared to traditional brick-and-mortar banks. Therefore, you can save money on fees, and earn more on your deposits. In addition, online banks often offer cashback and rewards on debit card usage, making it a great option for those who use their debit cards frequently.

To sum it up

Are you looking for a convenient and cost-effective way to manage your finances? A zero-balance current account with an online bank is definitely worth considering. With a list of banks offering a zero-balance current account, it’s no wonder why so many people are switching to online banking.

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