Latest Interest Rates, Benefits, Tenure, Mode Of Operation, Limitations Explained


SBI Zero Balance account: Maximum of 4 withdrawals in a month is allowed in a BSBD account, said SBI.

State Bank of India (SBI) offers the facility of opening zero balance account, where average monthly balance (AMB) rule is not applicable. Average monthly balance (AMB) is the minimum average of deposits required by the bank customers in their savings bank accounts. One of the zero balance accounts offered by SBI is basic savings bank deposit (BSBD) account, where the customer is not required to maintain any minimum monthly balance. Basic Savings Bank Deposit (BSBD) account is primarily meant for poorer sections of society to encourage them to start saving without any burden of charges or fees, according to SBI’s website –

(Also read: SBI Flexi Deposit Scheme: How It Works, Tenure And Other Details)

Here are key things to know about SBI Basic Savings Bank Deposit (BSBD) account:

Mode of Operation

SBI’s BSBD account can be opened singly, jointly, or with either or survivor, former or survivor, anyone or survivor etc. facility.

Interest Rates

This account offers the same rate of interest as applicable to savings bank account. SBI currently offers a rate of interest of 3.5 per cent per annum on deposits up to Rs 1 crore in savings bank accounts.

Operations in the account

SBI’s basic savings bank deposit (BSBD) account comes with a Basic RuPay ATM-cum-debit card, issued free of cost. The account holder can use this card at ATMs or use the withdrawal forms at branches to withdraw cash, as mentioned on SBI’s portal.

Terms and conditions

The customer cannot have any other savings bank account, if he/she has a basic savings bank deposit account, noted SBI. If the customer already has a savings bank account, the same will have to be closed within 30 days of opening a basic savings bank deposit account.

Maximum of 4 withdrawals in a month is allowed in a BSBD account, which includes ATM withdrawals at own and other bank’s ATMs and transactions through other mode including RTGS/NEFT/clearing/branch cash withdrawal/transfer/internet debits/standing instructions/EMI, etc. No further customer debits are allowed during the month.

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