Can we open zero-balance account in post office?

- As per the new rules by the government, an individual is allowed to open a zero balance account with the post office as well, which was previously opened with other banks. - An individual or a guardian of a minor whose name is registered for any government benefit can open a zero savings account with the post office.10-Jun-2021

How can I open zero-balance account?

Every individual who is a resident of India is eligible to open a zero balance account. To open a zero balance account online, one needs to have a valid Aadhaar and PAN card. As per RBI's regulation, banks can open savings account online through Aadhaar OTP verification.

Which bank is best for opening a zero-balance account?

Best Zero Balance Savings Account Of October 2022

Featured Partners.
Best Zero Balance Savings Bank Account.
IDFC FIRST Bank Pratham Savings Account.
Axis Bank PRIME Savings Account.
Indus Delite Savings Account (IndusInd Bank)
Kotak 811 Full KYC Account (Kotak Mahindra Bank)
Jupiter Savings Bank Account (Jupiter)

Can post office account be opened online?

India Post Office Savings accounts in Post Office can be opened online or offline. To open Post Office offline, you have to visit the branch, fill the application form and submit documents.03-Feb-2022

What is minimum balance in post office account?

Rs 500

How do I apply for a post office account?

What is the procedure for opening a Post Office Savings Account?

Procure a form from the post office or online.
Submit the duly-filled and signed form along with the required KYC documents and a photograph.
Pay the amount you would like to deposit subject to a minimum of Rs.
Your deposit will be opened for you.

What is the use of zero account?

What Are the Benefits of a Zero Balance Account? A zero balance account automatically sweeps funds from a master account to pay obligations or sweeps unused funds into a master account. The account is intended to increase efficiency of how cash is used, limit risk and fraud, and streamline the banking process.

Can I open two zero balance account?

Limited number of Savings Account: According to the new guidelines by Reserve Bank of India (RBI), you can have only one Zero Balance Account in one bank. Furthermore, if you have a Zero-Balance Savings Account in one bank, you cannot hold any other Savings Account of other capacity in the same bank.

Which bank has lowest minimum balance?

8 Best Zero Balance Savings Account In India

IDFC First Bank Pratham Savings Account.
YES Bank Smart Salary Advantage.
IndusInd Bank-Indus Online Savings Account.
DBS-DigiSavings.
Kotak Mahindra Bank-811 Digital Bank Account.
HDFC Bank - Basic Savings Bank Deposit Account.
SBI - Basic Savings Bank Deposit Account.

What is the benefit of zero balance account?

Benefits of zero balance accounts: No ATM/debit card charges. Free net banking. Complimentary passbook and checkbook is issued as part of the welcome kit, at the time of opening the account. Special privileges and offers for salary account holders based on the category of company/institution.22-Jul-2020

Which bank has the lowest bank fees?

Best no-fee checking accounts

Best overall: Capital One 360® Checking Account.
Runner-up: Ally Interest Checking Account.
Best for rewards: Discover Cashback Debit Account.
Best for out-of-network ATMs: Alliant Credit Union High-Rate Checking Account.
Best for students: Chase College Checking℠ Account.

Which bank account is best?

Top Savings Bank Accounts of 2022

State Bank of India (SBI) Savings Account. 2.70% p.a.
HDFC Bank Savings Account. 3.50% p.a.
Kotak Mahindra Bank Savings Account. 3.50% p.a.
DCB Bank Savings Account. 6.50% p.a.
RBL Bank Savings Account. 6.00% p.a.
IndusInd Bank Savings Account. 5.00% p.a.
ICICI Savings Bank Account. 3.50% p.a.

Which scheme is best in post office 2022?

Post Office Savings Account Interest Rate 2022

Which post office scheme is best?

Kisan Vikas Patra (KVP) Kisan Vikas Patra offers an interest rate of 7% compounded annually. It can be purchased from any post office. The invested amount doubles every 123 months (10 years and 3 months). The investment comes with a minimum limit of Rs.1,000, no maximum limit and can be made in multiples of 100.5 days ago

Can I open 2 account in same bank?

You can't have 2 accounts in the same bank as you will be having only 1 customer id. But you can have 1 single account and 1 joint account in the same bank.

Does post office provide ATM card?

Here is a look at the new charges for post office savings account ATM cards. From October 1, 2021, ATM/Debit card annual maintenance charges will be Rs 125 plus GST, according to the circular. These charges are applicable for the period of October 1, 2021, and September 30, 2022.28-Sept-2021

How do I get a post office ATM card?

Steps to apply for an ATM card on PO Savings Account standing at branch post office. i) To avail ATM card facility, the account holder shall fill SB-ATMI form (ATM Card/Internet/Mobile/SMS banking service request form) duly signed and submit SB-ATM-l form with passbook at concerned BO.15-Sept-2021

Can I open post office account anywhere?

Anyone above the age of 18 years, having Aadhaar and PAN card, can open this account. The account can be opened instantly from the comfort of your home, which means banking anytime, anywhere.

What documents do I need to open post office account?

To open a savings account at the post office, you need to submit the following: ID Proofs like Aadhar Car, Voter ID, Driving License, Ration Card etc. Address proofs like Electricity Bill, Ration Card, Bank Passbook, Telephone bill and Ration Card. Passport Sized Photographs.