Here is a list of some of the best Zero Balance Digital Bank Accounts in India that you can install on the mobile app or open from the official website of the biggest and-
# 1 Kotak 811
Kotak 811 is the best digital savings bank account in India offered by Kotak Mahindra Bank. You can open your Kotak 811 bank account by installing their mobile app or from their official website. Kotak Bank 811 has four variants, – 811 Limited KYC, 811 Lite, 811 Full KYC and 811 Edge Account. Kotak 811 Lite is a BSBA account with very limited banking facilities.
Kotak 811 Limited can be converted into a full-fledged banking account without any minimum balance mandatory. Although you need to maintain a balance for the 811 Edge account.
Kotak Bank also has the best mobile banking app in India.
Kotak Bank is the first bank in India where you can register with your online mutual fund SIP URN (Unique Registration Number) or either EMI mandate (ECS) Debit Card or NetBanking.
Features:
Zero Balance Digital Bank Account.
Register Mutual Fund SIP URN or any other EMI mandate from Debit Card or NetBanking.
Earn interest as a general savings bank account.
● Free virtual debit card capable of international transactions.
Chequebook facility for full KYC account.
● Free IMPS, NEFT, and UPI transfer facility.
There are no restrictions on credit if the KYC account is fully converted.
WhatsApp Banking.
● Kotak Bank NetBanking Access.
Numerous cashback and discount programs with several merchant websites.
Kotak 811 is by far the most innovative digital wallet cum account in India.
# 2 Bank ASAP
Axis Bank ASAP ranks second on this list. The Axis Bank ASAP account has almost the same features and benefits as the Kotak 811 account. You can open your Zero Balance Axis Bank ASAP digital account with a valid PAN and Aadhaar card and instantly get your account number and virtual debit card number. You will receive your Axis Bank NetBanking login ID right after opening the email account.
You can use your Axis Bank ASAP account for every banking need.
Axis Bank has launched “Express FD”, you can open a fully digital fixed deposit without having to open a bank account with Axis Bank, although you need a bank account at the time of maturity of the fixed deposit.
Features:
No minimum balance required.
Visa Virtual Debit Card with the right to international transactions.
Achieve dividends.
Axis Bank Access to mobile banking and net banking websites.
● Various merchant offers and rewards programs.
● Fund transfer facilities like IMPS, NEFT or BHIM UPI.
# 3 Digisavings by DBS
Digisavings is the first digital wallet cum account offered by a foreign bank in India. DBS Bank is considered one of the top banks in Southeast Asia and the top digital bank in Asia. You can open a Digisvings account by installing Digibank mobile app and verifying Aadhaar based OTP system. You need to convert DG Bank to Zero Balance Digisavings Account through biometric verification at any DBS Bank branch in India.
One of the key features of a Digisavings account is the authentication of OTP SMS-less transactions. Instead, the bank has introduced a soft token system to consolidate online transactions or transaction failures during online payments.
Features:
● Completely paperless Zero Balance Savings Account.
Earn interest as a regular savings account.
Soft token system for fast online transaction processing.
● The name of the award program is Digi Box.
Virtual Visa Debit Card with merchant store non-contact payments.
Instant money transfer via UPI, IMPS, or India QR.
Budget tracking.
Deals and offers with various online eCommerce merchant partners in India.
# 4 Indus Online Savings Account by IndusInd Bank
Other digital savings account in India is offered by IndusInd Bank which does not require a minimum balance. The basic features of the Indus Online Savings Account are very similar to Kotak 811 and Axis Bank ASAP account. You can get your account number only after completing Aadhaar OTP and PAN card verification. Your mobile number will be your account number which you can change later.
Please note that the waiver of the minimum balance charge is subject to the issuance of a Platinum Debit Card (Fee Rs. 5.5 + Tax) or an initial fund of Rs. 10000.00. Go here for details.
IndusInd Bank has a very good and feature-rich mobile banking app to meet all banking needs from smartphones.
You can register your Indus & Platinum debit card for contactless payments on Samsung Pay and Google Pay.
If you are looking for cash back and discounts from various com sites in India, then you must consider Indus Ind Bank Digital Account.
Features:
Indus Ind Bank access to mobile and net banking services.
● Feature-rich Platinum Debit Card with access to international transactions.
Video chat with bank officials for branchless banking.
WhatsApp Banking.
Account Number Choice.
● High cash withdrawal limit.
# 5 Pockets by ICICI Bank
Pockets is a mobile wallet app provided by ICICI Bank, can be easily created by installing the app from the Android or iOS App Store.
You can complete a complete KYC and convert a pocket digital wallet into a zero balance regular savings account. You will also receive a Visa Virtual Debit Card which is your pocket account number. You can register for ICICI Bank NetBanking Services with your Pocket Digital Wallet. You can view your pocket account in the drop-down menu of the My Account section.
You can use Pocket Digital Wallet to make payments on various eCommerce websites in India, all you have to do is select Pockets Wallet at ICICI Bank Payment Gateway.
Features:
● Visa powered virtual debit card with physical debit card option.
Exclusive offers and cashback programs.
Earn interest after converting to a regular savings account.
Touch and pay NFC payments for NFC enabled devices.
Adding funds through credit/debit card, net banking.
Provide after service for selected customers.
