Business

Know the intention to open a zero balance account, these banks are giving the highest interest

Zero Balance Account: There is no need to maintain minimum balance in zero balance accounts. The advantage of this is that there is no penalty on the account holder for having a low balance. If you want to open a zero balance savings account, then we will tell you about the banks which are offering the highest interest rate on this account.

IDFC First Bank

  • The bank is getting 3-5 percent interest on zero balance account.
  • If the balance is less than Rs 1 lakh, then interest will be available at 4% per annum.
  • Rs 1 lakh to Rs 10 lakh 4.50 per cent, Rs 10 lakh to Rs 2 crore 5 per cent, Rs 2 crore to Rs 10 crore 4 per cent, Rs 10 crore to Rs 100 crore 3.50 per cent, above Interest will be available at 3% per annum.

Yes Bank

  • In Yes Bank zero balance account gets 4-5.25 percent interest.
  • If the balance is less than Rs 1 lakh, then interest will be available at 4% per annum.
  • Interest will be 4.50 per cent on Rs 1 lakh to Rs 10 lakh and 5.25 per cent per annum on more than Rs 10 lakh but less than Rs 100 crore.

indusind bank

  • 4-5% interest is available on zero balance account.
  • If the daily balance is up to Rs 10 lakh, then interest will be available at 4% per annum.
  • If the daily balance is more than this, then 5% per annum interest will be given annually.

Axis Bank

  • At least 3% interest is available on zero balance account.
  • If the balance is less than Rs 50 lakh, then 3% interest will be given annually.
  • Above Rs 50 lakh but less than Rs 10 crore earns 3.50 per cent interest.
  • Above Rs 10 cr but less than Rs 100 cr Repo + (-0.65%) floor rate 3.50% applicable
  • Repo + 0.50 per cent from Rs 100 crore to Rs 200 crore
  • Above Rs 200 crore but up to Rs 2500 crore will get repo + 0.50 percent interest.

Kotak Mahindra Bank

  • Customers can get an interest rate of up to 4% on the 811 Digital Bank Account.
  • Many other benefits will also be available like- zero charges for non-maintenance, easy transfer of money, 811 virtual debit card and digital banking solution.

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Shivam Bangwal

Shivam Bangwal is a young entrepreneur who hails from Uttarakhand. Shivam is a professional full time Digital Marketing and PR expert with a post graduation degree of Master's of Computer Applications. He is a founder of Youthistaan, People News Chronicle, Branding Panther and Digital Leader.

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