Some of the zero balance accounts are as follows Generally banks have the Quarterly Average Balance (QAB) policy for the savings account and when the account balance does not meet the QAB requirements, a non-maintenance charge is levied whereas in a zero balance savings account, the QAB policy is not applicable and therefore no minimum balance is required, making it a ‘no minimum balance savings account’, same as BSBDA or BSBD Small account. What makes a Zero Balance Saving Account different from other savings accounts is the practice of minimum Quarterly Average Balance (QAB) for a savings account.You also have an option of online bank account opening with zero balance.As the name suggests, a zero balance savings account is a 0 balance account where the account holder is free to operate the account without maintaining a minimum balance.Account holders in a zero balance savings account can operate the account with zero balance. How to open a zero balance savings account?īanks these days are offering different banking products to enhance the banking experience for their customers and zero balance savings account is one of them. Know Everything about Zero Balance Savings Account
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