If you’re considering opening a new savings account, SBI’s Basic Savings Bank Deposit Account (BSBDA) could be an excellent choice.
This account offers several unique benefits, making it more advantageous than regular savings accounts. Here are some of the key features of this account.
No Minimum Balance Requirement
In regular savings accounts, you must maintain a minimum balance, or else you’ll face penalties.
However, with SBI’s BSBDA account, there is no such requirement. You can keep a zero balance without any concerns, meaning even if your account balance drops, no extra charges will be applied.
Free Facilities – Debit Card and Online Banking
SBI’s BSBDA account offers several free facilities to customers. With this account, you get a debit card, mobile and internet banking, all at no cost.
Additionally, transferring money through NEFT or RTGS is free, so you won’t incur extra charges for banking transactions.
Cash Withdrawal Facility
This account allows free cash withdrawals up to 4 times a month. You can withdraw cash from SBI ATMs and those of other banks without any charges.
Cash transactions through branch channels and APES are also free, unlike other savings accounts where they may attract fees.
Easy Account Activation
If your SBI BSBDA account becomes inactive, you can reactivate it without paying any charges.
Similarly, there are no fees if you decide to close your zero-balance account.
SBI’s BSBDA account is an excellent choice, especially for those who find it difficult to maintain a minimum balance.
The account offers several free features with no hidden charges. If you’re looking for a hassle-free banking experience, this account might be perfect for you.
