SBI, HDFC Bank Offers On This Zero Minimum Balance-No Monthly Average Balance Account
A basic savings bank deposit (BSBD) account does not require customers to maintain any minimum or monthly average balance. Key banks like State Bank of India (SBI) and HDFC Bank offer this option to customers. A basic savings bank deposit account does not require any minimum or maximum limit on the amount that one has to keep with the bank. Both banks offer debit cards on this account and ATM facility, among others. Customers of BSBD account also get access to internet banking facilities of SBI and HDFC Bank. BSBD accounts are especially beneficial for people who cannot afford to maintain high balances in savings accounts.
Given below is a comparison of features, benefits and interest rates of basic savings bank (BSBD) account option offered by SBI and HDFC Bank
Features of basic savings bank deposit account of SBI
This account can be opened singly, jointly, or with either or survivor, former or survivor, anyone or survivor etc. facility, said SBI on its website, sbi.co.in.
Features of basic savings bank deposit account of HDFC Bank
Customers can access the network of branches, and various ways to bank of HDFC Bank via this account. The additional features of BSBDA include zero balance and a free Rupay card, said HDFC Bank on its website, hdfcbank.com.
Interest rates offered by SBI on basic savings bank deposit account
| Particulars | Rate of Interest |
| Saving Deposits Balance upto Rs. 1 crore. | 3.50% p.a |
| Saving Deposits Balance above Rs. 1 crore. | 4.00% p.a |
| Savings Bank balance | Interest Rate at present | Revised Rate w.e.f 19th August, 2017 |
| Rs. 50 lakh and above | 4% | 4% (unchanged) |
| Below Rs 50 lakh | 4% | 3.50% |