With the current phase of digitalization and plastic money in India, everyone is being motivated and convinced to open bank accounts and use cards and online transactions for various purposes. The term Digital Banking has been very popular and has gained attention of the masses. Even people in the rural part of India have been brought under the banking system with huge number of new accounts opened in the last few years. When ever an individual thinks of opening a Saving Bank Account, the first question that comes to the mind is the charges involved if the minimum balance is not maintained. Now to counter this, a lot of Banks have introduced “0 Balance Saving Account” to enable people to come out of the fear of not maintaining the minimum balance. There are a lot of Banks that provide “0 Balance Saving Account” like Kotak Mahindra Bank, Axis Bank, State Bank Of India, ICICI and HDFC Bank.
Currently the most popular 0 Balance Saving Accounts are Kotak811 Saving account and AXIS ASAP Saving Account. While Kotak811 Saving Account give up to 6% interest rate, the AXIS ASAP Saving Account can give an interest rate of up to 7.30%. Both the accounts the facility of opening the account instantly through the online medium using Aadhaar Card. The Kotak811 0 Balance Saving Account also give you a bunch of exciting features like no maintenance fee, virtual debit card, no paper work, great discount on online shopping, free movie tickets at BookMyShow and a whole lot of other offers.
The AXIS ASAP 0 Balance Saving Account also give its users a lot of features and offers. You get a lot of exciting offers while shopping online form stores like Myntra, Amazon, Goibibo, Bigbasket, Firstcry and about 50 other top e-commerce portals. Apart from this, with the AXIS ASAP Debit Card you get cashback offers on Apple products which are available on EMI’s. The competition between both these banks has been neck to neck in the recent times and both have been trying their best to get more and more customers to open bank accounts with them.
Kotak Mahindra Bank and Axis Bank have emerged as two of the top banks in India over the recent times and by improving and adding new technologies, exciting products and by implementing ease of banking, they are sure to remain on the top of the list for a long period of time. With the branding and promotion of “Digital India” even the Government of India has motivated more and more people to open bank account and use the online channel for transactions. And with the Government involved, a lot of banks have been forced to provide new and improved product and services to garb more market share. 0 Balance Saving Account is most definitely a product that has helped the banks to increase their customer base.
