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India's best zero balance savings account with no maintenance fees

Open digital savings bank account completely online and other features that help you grow financially

Indian Bank Zero Balance Account - Online Account & BSBDA

Indian Bank online account opening process has made it easier for individuals to open a zero balance savings account instantly with Indian Bank. IB DIGI – Online SB Account is the online savings account from Indian Bank. Besides the digital savings account, the bank also offers basic savings account, zero balance account, to individuals who don’t have a savings account with any bank.

Features of Indian Bank Zero Balance Account (IB Digi and Basic Savings Account)

indian bank zero balance  account

No minimum balance

Customers of the Indian Bank zero balance account don’t have to keep any minimum balance on a monthly or quarterly basis. Also, the zero balance feature is available for individuals residing in the urban and rural centres and no penalty is charged for not keeping any balance.

The minimum balance requirement of a regular savings account of Indian Bank is Rs.500. 

No initial deposit

In addition to no minimum balance, the Indian Bank zero balance account does not have any initial deposit. It means that one can open the savings account without any deposit. This is another advantage over regular savings account as most of the savings account has a minimum initial deposit requirement to open a bank account.

ATM/Debit card

Customers of the zero balance accounts can avail ATM/debit card without any additional cost. A debit card is a convenient form of transactions. It is lightweight, secure and is easily accepted by various online and offline merchants.

Account-holders can also withdraw cash from the ATM for their cash requirement.  

Maximum Withdrawals

Customers of the Indian Bank basic savings account can undertake up to four free debit transactions in a month including ATM withdrawals. Online savings customers can withdraw up to Rs.10,000 per day for unlimited times at Indian Bank ATM and up to Rs.10,000 per day at other banks’ ATM.

Nomination facility

The nomination facility is available for all customers of the Indian Bank zero balance account. Having a nominee is very helpful in times of sudden death of the account holder. The nomination is an important feature as it helps the family of the account holder to get the proceeds of the savings account or other related accounts such as fixed deposits, recurring deposits etc.

In case of basic savings account, customers need to add the nominee details on the physical form. Online nomination is available for Indian Bank IB Digi account customers.

IB DIGI – Online SB Account

What is IB Digi?

IB Digi is an online savings that customers can instantly open through the bank’s website or downloading the bank’s android app.

Customers can open the bank account by using the PAN card, Aadhaar number and a phone number registered with Aadhaar. As they open the bank account after verification of your Aadhaar through the Aadhaar OTP, it is an e-KYC Account. Initially, the account comes with certain restrictions on the amount that customers can deposit or keep their account. They lift these restrictions after you complete the KYC process by visiting the bank branch.   

Who can open Indian Bank Online Account?

  • Resident Indian individuals can open the account
  • Should be above 18 years of age
  • Individuals
    Minors, institutions and joint account holders can’t open the online savings account.
  • Existing Indian Bank customers may not be able to open the bank account.  

Indian Bank online account opening process

Only one customer can open one Digi Savings account from one device and mobile phone.

  1. You can click on this link to open Indian Bank digital savings account. Add your name, mobile number and email address you want to register with the bank.

  2. Enter the OTP that you have received on your mobile number and click on Verify OTP. You will see a success pop-up at the top of the window.

  3. Add your Aadhaar number. You will receive an OTP on your Aadhaar registered number. Add the OTP. After verification, it will fetch most of the account details from the UIDAI database. Just fill the other details such as your marital status, bank branch, father’s name, mother’s name etc.

  4. Enter your PAN. Your PAN should be linked to your Aadhaar to verify your PAN. Click on Verify.

  5. In the next step, you can add your communication address if it differs from your Aadhaar address. If both permanent and communication address is same, click on the box to make your Aadhaar address as your communication address.

  6. Click on ‘Create SB account’ to open Indian Bank zero balance online savings account.

You will receive your account number and CIF number on your registered email address. You will find the process to complete the full KYC process on the same mail.

Things to keep in mind before opening Indian Bank online savings account

  • Unless you complete the full KYC, the account remains valid till 12 months.
  • No cheque book is provided to the customers.
  • The balance in the account should not exceed Rs.1 lakh at any day.
  • The total amount credited in the account should not exceed Rs. 2 lakh in a financial year.
  • Bank issue free Special RuPay Classic card at the time of account opening. However, the debit card has lesser withdrawal and transaction at POS limit.

Indian Bank Basic Savings Account

The Basic Savings Bank Deposit Account (BSBDA) is Indian Bank zero balance account that aims to cater to unbanked individuals to usher an era of financial inclusion. This basic savings account or zero balance account of Indian Bank provides basic banking facilities such as debit card, cheque without any minimum balance.

Indian Bank Basic Savings Bank Deposit Account (BSBDA)

Indian Bank zero account opening can be done by filling up the account opening form that can be downloaded. One can fill the form and submit it with the attested identification, address proof and few passport-sized photos. Customers can also take the account opening form from the bank branch and fill it in the bank before submitting. Currently, online account opening of the basic savings account is not available.

Differences between IB DIGI and BSBDA Account

IB DIGI – Online SB Account and Indian Bank Basic Savings Bank Deposit Account (BSBDA) are zero balance accounts.

  • IB Digi is opened online while you need to visit the bank branch to open a basic savings account.
  • Online savings account are open for people who don’t have any relationship with the bank. Basic savings account are meant for unbanked sections of the society who don’t have a savings account.
  • There are no restrictions on account balance for basic savings account customers.

Other Zero Balance Accounts:


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