Need your help with opening a bank account

191°
Post Tycoon
AshishVashisht
Hello Dimers,

I am looking for your help in choosing a zero balance savings account, I only have 2 requirements

1. The account can be opened digitally by video kyc, no visit to branch required.

2. The account should be truly zero balance savings account (not like the accounts where you have to add initial deposit even in zero balance savings account)

I have researched quite a lot and have shortlisted a few accounts like AU bank digital savings account, Kotak 811 zero balance account. I was thinking of finalizing AU small finance bank as I've seen a lot of positive reviews about them. Also, the offer on Rupay Platinum card they provide are enticing.

If you have any other zero balance savings account in mind, please suggest in the comments.

Also, any current users of AU Bank and Kotak 811 can share their experience till now, it will be highly appreciated.

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27 Comments  |  
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Deal Lieutenant Deal Lieutenant
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I don't know if there's same t&c for icici mine accounts but I feel its very good when it was offered with no strings attached.

It's good to hold an ICICI account for as long as possible.

More you use, more chance of getting great pre approved offers. i.e. home loan,cc , cc limit enhancements etc.

I don't need any of these, but it's good to have the options handy just in case.

And coming to charges, it's 170 or something just for DC AMC.

That's it.

Post Tycoon Post Tycoon
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Thank you for your suggestion, I have researched about ICICI mine account and it requires initial deposit of 10k which is a deal breaker. People who opened it when it was new were lucky, now many conditions like the one I have mentioned above is applied on it. However, I do agree with you that it is good to hold an ICICI account in long term, especially for credit cards.

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Benevolent Benevolent
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If you want an account with a physical debit card then go with AU bank and if you want only virtual debit card then go with Kotak 811. 

Post Tycoon Post Tycoon
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Yes I do need a physical debit card and the way I look at it, the offers provided on AU bank card outweighs the AMC charges of ₹177.

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Mobile Guru Mobile Guru
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Not just Rupay, AU got very good offers on many platforms for now (Might not last for long)). It took me just 2 hours to open the zero-balance (via video-KYC/Voice call) account but these guys are very specific about the details (Like your employment details) and they'll make you re-apply for the account even for minor discrepancies (Makes me wonder if AU is like Jupiter/Niyo.. freezing accounts because of their crap AI-Flagging system)

Kotak is good too. The plus here is you can have skip physical and just have a virtual debit card

Post Tycoon Post Tycoon
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Thank you for the valuable input, Yes indeed I have seen offers specifically for AU bank cards on many websites. I also do like the fact that no branch visit is required whatsoever, you'll get the welcome kit at home with chequebook included. I am a student though, as you mentioned about employment details, would it be difficult for a student to get a new AU bank account?

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Generous Generous
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U can also consider NSDL jiffy
But it can be opened on aadhaar no only (based on my last failed attempt two months back, though earlier i have opened on non aadhaar no too for my parents)
Post Tycoon Post Tycoon
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NSDL jiffy is showing minimum balance of 10k required: https://nsdlbank.com/classic_saving_accou...hp

Is this the same account you're talking about or is it some other account?

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Post Tycoon Post Tycoon
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Thanks to everyone who commented for providing their valuable input. I'm thinking of going with AU Bank savings account. 
Vanguard Vanguard
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I'd suggest you go with AU Bank. You get RuPay Platinum debit card at Rs 170 something. No issues with UPI payments, debit card transactions and you get daily offers in the app which are quite useful. The bank can offer AU Lit credit card LTF within a month or so. It depends on your credit history, obviously. Plus, apps like Swiggy, flight ticketing portals etc offer good discounts on using AU credit and debit cards. Lastly, the AU Bank app is quite smooth.

Post Tycoon Post Tycoon
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Thanks for your input, Yes I have noticed the offers on swiggy too. Alot of offers currently for Au Bank cards, be it debit or credit card. I don't know how long will this last though, probably not very long, but we can still make use of it until it lasts.

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Deal Cadet Deal Cadet
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Open bank of baroda 0 balance account it has a rupay card virtual and physical both

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