Archive · 21 Sep 2026
RBI Highlights Zero-Balance BSBD Accounts With Essential Banking Facilities
The RBI has reminded people about a simple type of bank account called a BSBD account.
You do not need to keep a minimum amount of money in it.
You may also be able to open it without making an initial deposit.
The account can provide a debit or ATM card, mobile banking, internet banking and a passbook.
Some banks may offer a cheque book under their own rules.
People with regular savings accounts may be able to change them into BSBD accounts.
However, some services may have limits or charges.
Customers should ask their bank about the rules before opening or converting an account.
Basic Savings Bank Deposit accounts can be opened without a minimum balance or initial deposit.
BSBD accounts provide essential services including ATM or debit cards, mobile banking, internet banking and passbooks.
Cheque books may be available, subject to the bank’s terms and conditions.
Customers may be able to convert an existing savings account into a BSBD account.
Customers should check transaction limits, withdrawal rules and charges for services beyond permitted basic facilities.
- Who
- The Reserve Bank of India and bank customers.
- What
- The RBI highlighted Basic Savings Bank Deposit accounts, which do not require a minimum balance or initial deposit.
- Where
- The accounts are available across banks in India; the report is datelined Mumbai.
- Why
- To make essential banking services more accessible without the burden of maintaining a minimum balance.
- Account type
- Basic Savings Bank Deposit (BSBD) Account
- Minimum balance
- No minimum balance is required.
- Initial deposit
- The account can be opened without an initial deposit.
- Basic facilities
- ATM or debit card, mobile banking, internet banking and passbook access are available.
- Cheque book
- May be available according to the bank’s terms.
- Existing accounts
- An existing savings account may be converted into a BSBD account through the bank’s required process.
- Customer checks
- Customers should confirm transaction limits, withdrawal rules and charges for additional services.