Everyone has a bank account today. Most banks have a requirement to maintain a minimum balance in the account. If you do not do so, the bank charges a penalty for it. But there is an account in SBI in which even if there is zero balance, no penalty is charged to you. This type of account is called Basic Savings Bank Deposit Account (BSBDA) in banking language. While in common language people call it a zero balance account. Know here what are the benefits of this account.

These are the 5 big benefits.

- Penalty has to be paid for not maintaining a minimum balance on other bank accounts, but in this account, you will not have to pay any kind of penalty. This is its biggest feature.

- You can keep any maximum amount in the account. There is no limit to this.

- In this, the account holder is given the facility of a bank passbook, basic Rupee ATM-cum-debit card, mobile and internet banking. However, a free checkbook is not given.

- On opening a zero balance account, you can withdraw and transfer money with the help of an Aadhaar card like a normal savings account, as well as the facility of withdrawing or transferring money with the help of the UPI app is also included.

- In this, there is no charge on cash transactions through electronic channels like NEFT / RTGS. Also, if you open a closed account, then you do not have to pay any charge for that too. On the other hand, if you close your zero balance account, then there is no charge for this either.

Who can open this account?

Any person who fulfills the conditions of KYC can open this zero balance account. If you have documents like an Aadhaar card and PAN card, then you can easily get them opened. The facility of opening a joint account is also given in the zero balance account. In this, all account holders have to submit their documents.

It is also important to know this condition.

You can open a zero balance account in a bank only if you do not have any other savings account in that bank. According to the bank's official website, if you already have a savings account and you have also opened a zero-balance savings account, then the previous account has to be closed within 30 days. Zero balance savings account holders can make 4 free withdrawals in a month from the bank's or other bank's ATM or branch channel.