Key Features & Benefits You Need to Know about BSBD Account

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Want to open a bank account that comes with zero balance, free transaction, cash withdrawal or free cash deposit? Well, if that is the case with you, all you need to know about BSBD Account. Let’s just know more about this account type in the article below:

What BSBD Account is All About?

Stands for Basic Savings Bank Deposit Account, it is nothing but a magical account type that comes with many features and features to choose from. With this account type,there is no need for you to maintain a minimum balance. This account allows people to do the fund transfer via internet banking, mobile banking, along with the cash deposit to pay for the same.

Let’s get into the detail and discuss more about the same as there are many lenders that offer the same account type facility:

SBI Basic Savings Bank Deposit

Features and Benefits
  • No minimum balance requirement
  • Availability of ATM-cum debit card without any fee and annual maintenance charge
  • The credit of money through NEFT and RTGS
  • No penalty on closing the account
  • Collection of cheques drawn by Central or State Government
Eligibility Criteria
  • Talking about the eligibility, BSBD is not allowed with any other savings account. In case, you want to open the same account, make sure you have closed the same within 30 days of opening the BSBD account.
  • A maximum 4 withdrawal is allowed in a month. Thee include both from SBI and other bank ATM’s , fund transfer via NEFT/RTGS, internet debits, standing instructions, EMI, etc.
Mode of Operation

Single or joint basis

HDFC Basic Savings Bank Deposit

No doubt one of the largest private banking units, it is best known for offering the multiple features and benefits to choose from.

Features and Benefits
  • Zero account balance
  • Free Rupay card
  • Cash deposit at bank branch/ATM
  • Free passbook facility
  • LIfetime bill pay to remain free
  • Net banking, mobile banking and phone banking facility
Eligibility Conditions
  • Hindu Undivided Families and Resident Indians are allowed to open the same account
  • Only 4 withdrawals are allowed in a month
  • These include both HDFC and other Bank ATMs, the transfer made via NEFT/ RTGS, EMI, etc.
Mode of Operation

Single and joint accounts

Axis Bank BSBD Features & Benefits

Checkout the benefits of BSBD account type below.
  • SMS Alert
  • Free Passbook
  • Monthly e-statement
  • No minimum balance requirement
  • Free debit card
  • Personal accidental insurance
Eligibility & Conditions
  • Resident Indians not having an existing savings account
  • No foreign inward remittance allowed
  • All withdrawals and transfers in a month is limited to Rs.10,000
  • The account balance must not exceed Rs.50,000
Mode of Operation

Single and Joint basis
ICICI Bank BSBD Features and Benefits

Know the exciting features being offered by ICICI below
  • Free cash deposit/withdrawal
  • Zero balance account
  • Free passbook issuance
  • Free card
Eligibility and Conditions
  • Indians above 18 years
  • NRIs and HUF can also apply
  • Total credit in a financial year must not be above Rs.1 Lakh
Mode of Operation

Single and Joint, including minors
Location: India

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