Does Icici Bank provide zero balance account? (2024)

Does Icici Bank provide zero balance account?

What is the minimum balance required to be maintained for an ICICI Bank Rural Savings Account? Rural Savings Account is a Zero balance account and hence there is no minimum balance requirement.

Does Icici have zero balance account?

The ICICI Bank Basic Savings Bank Account (BSBDA) is a zero-balance account, which means there is no requirement to maintain a minimum balance. This account allows you to earn interest on your end-day balance, with an interest rate of 3% p.a. to 3.50% p.a. The interest is credited to your account every quarter.

Which bank provides 0 balance account?

What is the minimum account balance for Icici Bank?

Does Icici charge for not maintaining minimum balance?

Who are these changes applicable to? All customers who do not fulfil the terms and conditions criteria applicable to their Account, are subject to minimum Monthly Average Balance (MAB) requirement. Charges will be levied to any customer not maintaining the required MAB in their Account.

What are the charges for Icici zero balance account?

What is the deposit limit for Icici zero balance account?

The total limit of deposit and withdrawal at the Home Branch is up to INR 2 lakh. Above INR 2 Lakh, INR 5 fee per INR 1,000 will apply, subject to a minimum of INR 150. At the Non-Home Branch, no charges for cash transactions apply for up to INR 25,000 per day.

Is HDFC a zero-balance account?

Zero Balance or Basic Savings Account

This is similar to the regular Savings Account, but unlike that account, you are not required to maintain any minimum balance for this account. It does, however, come with an ATM/Debit Card for your daily transactions.

Can I have $0 in my bank account?

You might end up facing costly fees

But if your balance dips down to $0, you risk being charged that fee. Worse yet, you may not realize your checking account balance has gotten down to $0, and you might swipe your debit card to pay for a purchase. At that point, your bank might allow the transaction to go through.

What bank has no maintaining balance?

It's hassle-free savings account you can open in minutes

RCBC iSave is a virtual, easy-to-open savings account with free personal accident insurance, hospitalization benefits and tiered interest rates. Application is fast with no minimum initial deposit and zero (0) maintaining balance.

Which is better Icici or HDFC?

"Thus, assuming a similar asset quality profile, HDFC Bank is better placed than ICICI Bank on the growth (due to improved reach) and profitability) improved operating leverage) fronts. We expect HDFC Bank to post 26.1 per cent PAT CAGR over FY23F-26F against ICICI Bank's 15.9 per cent," it said.

Which Icici account is best?

Privilege Savings Account:

Privilege Savings Account provides a wide range of exclusive benefits to the Account holders such as discounts on locker facilities, unlimited withdrawals, a banking assistant, priority services at select banking zones and so on.

What is average monthly balance in ICICI Bank?

Monthly Average Balance refers to the average closing balance maintained in a Bank Account over the course of a month. It is calculated by adding up the closing balance of each day of the month and then dividing the total by the number of days in that month.

What are the types of accounts in ICICI Bank?

Which bank has 1000 minimum balance?

Punjab National Bank:

PNB customers having savings accounts in rural areas need to maintain a monthly average balance of Rs. 1,000.

What are the disadvantages of zero balance account?

Some of the disadvantages of a zero balance account include limited features, lower interest rates, higher transaction fees, limited customer support, and difficulty in receiving payments.

What is the difference between zero balance account and normal account in Icici?

No Initial Deposit Required

If you're doing ICICI zero balance account opening online, there will be no requirement for an initial deposit. This means there will be no pressure on you to start putting in the money. You can take your time to deposit money into your zero balance savings account.

Is it good to open zero balance account?

When it comes to selecting a Savings Account, a Zero Balance Account may not possibly be the best choice. This is primarily because even though it saves you the hassle of maintaining an average balance every month, it is crucial that you look at all facets of the account before you opt for it.

Can I withdraw 2 lakhs from ICICI Bank?

ICICI Bank says on its official website said that above Rs 2 lakh, the customers will have to pay Rs 5 per Rs 1,000, subject to a minimum of Rs 150. "Home Branch (Branch where account is opened or ported) Rs 2 lakh. Free per month per account.

What happens if you go below minimum balance ICICI Bank?

Above schedule of charges is also applicable for accounts opened with Rs 500 or Nil Monthly Average Balance (MAB) requirement. Charges for Non-maintenance of Minimum Monthly Average Balance (NMMAB) will be 6% of the shortfall on the required MAB.

How much cash can I deposit in my Icici account?

Cash Deposits in Bank Accounts

The cash deposit limit, in the case of Savings Accounts, is Rs 10 lakh. If a person deposits more than Rs 10 lakh in a financial year, then the Bank will report it. However, for Current Accounts, the limit is Rs 50 lakh.

Is HDFC zero-balance account good?

By opening an HDFC Bank minimum balance Savings Account, you can enjoy lucrative offers and deals, become eligible for easy loan access and instant fund transfer*. You can even get access to Sweep facility*, locker facility, international Debit Cards, automated bill payments, discount benefits, and more.

Which is No 1 bank in India?

Does Axis Bank provide zero-balance account?

Axis Bank offers a diverse range of savings accounts designed to meet various needs and financial preferences. These include regular savings accounts, salary accounts, senior citizen savings accounts, zero balance savings accounts, and more.

What happens if your bank account goes negative and you never pay it?

Your bank may close your account and send you to collections if you're always in overdraft and/or don't bring your account up to date. An overdraft occurs when your account falls below zero. Your bank will let your account become negative if you have overdraft protection but you may face fees.