1. Kotak Mahindra Bank – Zero‑Balance “811” Account
Incredibly popular for its fully digital onboarding and zero minimum average balance, the Kotak 811 account stands out—no balance requirement, no hidden fees—a hassle-free pick.
A Reddit user shares:
“I personally use Kotak 811 which is a zero balance account ... Mobile banking works well and the onboarding procedure was seamless.”
(Reddit)
2. Axis Bank – “Amaze” Account with Zero Balance
Axis offers the Amaze Savings Account, which requires zero balance, making it a great option for those who want basic banking without maintenance hassles.
(Cash Overflow)
3. ICICI Bank – Old Customers & Salary Accounts
While ICICI has recently hiked its minimum balance to ₹50,000 for new urban customers, existing accounts—especially salary-linked ones—still enjoy zero balance requirements. This makes it a fallback if you already bank with them.
(The Times of India, The Economic Times)
4. HDFC Bank – Semi‑Urban & Rural Plans
HDFC’s standard accounts in urban areas require ₹10,000, but if you're in a semi‑urban or rural area, the requirement drops to ₹5,000 or even ₹2,500. While not zero, this is still relatively low compared to many banks.
(Indian Tycoons, India, Zee Business)
5. Yes Bank – Low Base, Gradual Penalties
Yes Bank typically sticks to a low minimum balance (around ₹10,000), with penalties that start at a modest 5–10% of the shortfall—a gentler approach for those who might occasionally miss the requirement.
(Indian Tycoons)
Quick Comparison Table (Reflecting Realistic Minimums)
| Bank | Minimum Balance (Lowest Tier) |
|---|---|
| Kotak 811 (Kotak) | ₹0 (Zero-balance digital account) |
| Axis (Amaze) | ₹0 (Zero-balance account) |
| ICICI Bank | ₹0 (for existing/salary accounts) |
| HDFC Bank | ₹2,500–₹5,000 (in rural to semi-urban areas) |
| Yes Bank | ~₹10,000 with percentage-based penalties |
Why This Matters
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Financial Inclusion: For students, gig workers, or small savers, zero-balance or low-balance accounts remove barriers to banking.
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Convenience & Transparency: No surprise penalties or maintenance fees—just easier banking.
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Location-Sensitive Options: Banks like HDFC offer more affordable tiers based on urban/rural settings, which matters in places like Panipat too.
