Guide on How to Open YES Bank Zero Balance Account. Yes Bank Zero Balance Account Opening Online. yes bank online account opening zero balance. YESBANK Savings Account zero balance online 2023
Yes Bank Zero Balance Account
The investment idea manifests the decision to open a bank account. Account users register for particular current or saving accounts to satisfy specific financial needs. Banks and financial institutions provide user-friendly banking facilities to cover the requirements and maintain a great relationship with the customers. YES Bank India is a famous public sector bank that works to incorporate all clients. The bank has developed various banking facilities that help cover comprehensive services using available devices.
YES Bank members can register for saving account services through online systems like mobile banking, the bank’s website or visiting the bank. The accounts are easily merged with multiple facilities like SMS banking, mobile banking, ATM, internet banking and more.
YES Bank Saving Account Details
The YES Bank customers have the privilege of opening their preferred saving account. The bank present regular saving accounts with monthly minimum balances and those without (Zero balance accounts). Each account has a specified monthly average balance based on features and services. The zero balance accounts are incredible deposit accounts that require no maintenance. This comes in handy for customers who find it challenging to maintain their monthly balance.
Features and Benefits of YES Bank Zero Balance Saving Account or Basic Saving Account
Zero balance accounts are incorporated with many benefits that ease the banking process and encourage saving. Account applicants can avail the following features and benefits.
- No minimum balance or initial funding
Accountholders shouldn’t worry about the maintenance fee that applies to regular saving accounts. The account also doesn’t demand initial savings during the account opening process.
- Unlimited deposit and withdrawal
YES Bank zero balance accounts are attached with different banking services to ease the fund transfer. Card users can transfer money via ATMs, e-wallets, internet banking, mobile banking and bank branches.
- Free access to a debit card, cheque book leaves and passbook
Once the application process is verified and approved, the bank officer provides the user with a free debit card for easy money services. One can also collect their passbook for recording though their digital platforms to help with account monitoring.
Interest Rates of Yes Bank
YES Bank calculates the interest rates based on the daily closing balance. The bank rounds off the amount to the nearest rupee and credits the amount quarterly.
|Amount less than Rs. 1 lakh||4%|
|Rs. 1lakh to less than 10 lakhs||5%|
|10 lakhs to less than 300 crore||6%|
Types of YES Bank Zero Balance Account
- Basic Saving Bank Deposit Account (BSBDA)/ Pradhan Mantri Jan Dhan Yojana.
- Customizable saving account
- The account is designed to protect the customer from unwarranted charges.
- A maximum tax exemption.
- No minimum balance
- No charges for bank services.
- Smart Salary platinum
- It’s a zero-balance account.
- Tax-free for Interest income of up to Rs. 40, 000
- A free personal accident/death cover of Rs. 15 lakhs.
- Smart salary exclusive
- No minimum balance
- Tax-free for interest income up to Rs. 40,000
- Personal accident insurance cover of Rs. 5 lakhs.
- Smart Salary Advantage
- A zero balance account.
- Tax-free interest income of up to Rs. 40, 000
- A personal accident/death cover of Rs. 2 lakhs.
Yes Bank Zero Balance Account Opening Online
How to apply for YES Bank zero balance saving account
- Open your YES Bank internet banking or mobile banking platforms.
- Enter the login credentials to access the account.
- Select the “apply online” option to open the saving account application form.
- Fill in the required details and attach relevant documents such as identity proof, address proof and PAN card.
- Review the details and submit the form for review.
- YES Bank officer will verify the details and get in touch after approval.
- What is the meaning of a zero balance saving account?
A zero-balance account is a deposit saving account that doesn’t require monthly or quarterly maintenance.
Also Read: SBI Zero Balance Account Opening Online