DBS Zero Balance Account – Updated Guide to Features & Benefits

Key Takeaways
 

• The DBS Zero Balance Account lets you bank without maintaining a minimum balance.
   
• You get access to essential services like a passbook, a debit card, and unlimited withdrawals.
   
• Extra features such as Auto-Saver and PMJDY benefits make the DBS Zero Balance Account more rewarding.

The DBS Zero Balance Account is a simple savings account that removes the burden of maintaining a minimum balance while still offering essential banking services. It is designed to give customers easy access to deposits, withdrawals, and financial inclusion benefits. 
 

For example, Riya, a young professional, wanted an account without the worry of penalties for a low balance. By opening a DBS Zero Balance Account, she could manage her salary, pay bills, and even earn interest on her savings without extra charges.
 

This blog explains the features, benefits, charges, eligibility, and process of opening a DBS Zero Balance Account.

Types of DBS Zero Balance Account 

DBS offers the Basic Savings Bank Deposit Account (BSBDA) as its zero-balance savings option. This account provides essential banking access and also comes with special features like the Pradhan Mantri Jan Dhan Yojana (PMJDY) benefits and the Auto-Saver facility.

1. Basic Savings Bank Deposit Account (BSBDA)

The BSBDA is the core zero-balance savings account offered by DBS, designed for simple, everyday banking needs.

• Zero balance requirement.
• Unlimited withdrawals across all channels (including ATMs).
• Cheque book and basic banking services provided.
• No restriction on the number of deposits per month.

In short, the BSBDA makes banking hassle-free by removing the pressure of maintaining a minimum balance and allowing unlimited transactions.

2. Pradhan Mantri Jan Dhan Yojana (PMJDY)

The PMJDY is included as part of the BSBDA, offering financial inclusion benefits to account holders.

• Zero balance account under the government’s financial inclusion scheme
• Free debit card and passbook (duplicate issuance is also free)
• Free cheque book and essential banking services
• Unlimited withdrawals and no limit on deposits
• Suitable for deposits, withdrawals, and remittances
• A booklet in Hindi is provided for better understanding

Overall, the PMJDY feature ensures that every individual can access basic banking services without extra cost, making it a true inclusion-driven facility.

3. Auto-Saver Facility 

The Auto-Saver feature adds more value to the BSBDA by turning idle funds into fixed deposits automatically.

• Funds above ₹1,00,000 in a savings account are automatically converted into a Fixed Deposit.
• Minimum FD: ₹1,000 (in multiples of ₹1,000); maximum cap: ₹1,00,00,000.
• Flexible FD tenure from 7 days to 1 year.
• Sweep-out facility: Fixed Deposits broken in multiples of ₹1 to cover account shortfalls.
• Last-in-first-out (LIFO) method ensures maximum returns.
• No penalty for premature withdrawal when account balance falls short.
• Available for both residents and non-residents (only on NRO accounts and NRO FDs).

This way, the Auto-Saver facility helps customers earn higher returns while still keeping their money readily available whenever needed.

The DBS Zero Balance BSBDA is more than just a basic account. It gives customers the ease of zero balance banking, the inclusion benefits of PMJDY, and the smart savings of the Auto-Saver facility, making it a complete and versatile solution for modern banking needs.

Bonus Tip: Keep your balance slightly above ₹1 lakh in your DBS Zero Balance Account so that the extra amount automatically earns higher FD interest without you doing anything.

DBS Zero Balance Account Fees and Charges

While the DBS Zero Balance Account is designed to make banking simple and accessible, it is important to be aware of the fees that may apply. This ensures customers can manage their accounts effectively and avoid unnecessary costs.

Key fees
 

1. Monthly Average Balance (MAB)
   • Customers are required to maintain a monthly average balance of ₹25,000.
      
2. Non-Maintenance Charges
   • If the balance falls short, a fee of 4% of the shortfall amount will be charged, subject to a maximum of ₹400.
      
3. Account Closure
   • Closing the account within six months of opening is completely free, with no penalty charges.
      
4. Debit Card Replacement
   • In case of loss, theft, or damage, a replacement fee of ₹150 will apply.
      
5. Annual Debit Card Fee
   • From the second year onwards, an annual fee is charged:
     • Classic & Platinum Debit Cards:₹150
     • Signature Debit Card: ₹299
        
6. International Transactions
   • Cash withdrawal abroad:₹125 per transaction
   • Non-financial transactions (e.g., balance inquiry): ₹25 per transaction

The DBS Zero Balance Account offers flexibility with transparent charges. By maintaining the required balance and being mindful of transaction fees, customers can enjoy the benefits of their DBS Zero Balance Account while keeping costs to a minimum.

Bonus Tip: Unlike some accounts, the DBS Zero Balance Account allows unlimited deposits every month, making it perfect if you frequently receive small payments or transfers.

How to Open a DBS Zero Balance Account?

Opening a DBS Zero Balance Account is quick, simple, and entirely digital. With no branch visits required and minimal paperwork, you can start banking in just a few minutes.

Steps to Open a DBS Zero Balance Account

Step 1:
Visit the DBS Bank website or download the mobile app to begin your instant account openingprocess.

Step 2:
Keep your PAN Card and Aadhaar Card ready for smooth online onboarding.

Step 3:
Complete your Video-KYC seamlessly using an internet-enabled smartphone or computer with a camera and video calling features.

Step 4:
DBS Bank will verify your KYC details, and your DBS Zero Balance Account will be activated promptly.

What Happens Next?

Once verified, you officially become a DBS customer. You can immediately start using your DBS Zero Balance Account through internet banking to deposit money and make transactions. A welcome kit will also be delivered to you within a few days.

DBS Zero Balance Account Interest Rates

DBS offers competitive interest rates on its zero balance savings account, ensuring that customers earn steady returns on their deposits while enjoying the flexibility of daily banking. 

The rates are applied on a slab basis, which means different portions of the balance attract different rates of interest.
 

Current Savings Account Interest Rates (Domestic)
 

Interest rates effective from 9th May 2025.

• Interest is calculated on the daily available balance and credited on a quarterly basis (or as decided by the bank).
• Rates are subject to revision at the discretion of DBS or as directed by the RBI.

Example of Interest Calculation

To understand how the slab-wise system works, consider a Domestic Savings Account balance of ₹1.5 crore:
 

Thus, instead of applying one single rate, DBS applies the relevant interest rate to each balance slab, ensuring that customers benefit fairly from higher interest on larger deposits.

Eligibility Criteria for DBS Zero Balance Account 

Opening a DBS Zero Balance Account is simple, provided you meet the basic requirements set by the bank. These criteria ensure that the account is accessible while maintaining regulatory compliance.

Who Can Apply?
 

• You must be a resident Indian.
• You should be at least 18 years of age.
• You must maintain a Monthly Average Balance (MAB) of ₹10,000.
• You need to have a valid Aadhaar Card and PAN Card for identity and address verification.

In short, the eligibility criteria for a DBS Zero Balance Account are straightforward, making it easy for most individuals to start their banking journey.

Documents Required for DBS Zero Balance Account

To open a DBS Zero Balance Account, you will need to submit certain documents. These ensure that your identity and address are verified as per regulatory standards.

• Proof of Address (Any one of the following)
• Aadhaar Card
• Voter ID
• Utility bill (electricity, gas, water, telephone)
• Passport
• Driving Licence
• Bank passbook or account statement
• Ration Card
• Official letter with address, stamped and signed by a gazetted officer or public authority
• Proof of Age and Identity
• (Any one document with a photograph attached)
• PAN Card
• Aadhaar Card
• Voter ID
• Passport
• Driving Licence
• Employee ID card with photograph
• Any government-issued photo ID (state or central)
• Additional Requirements
• Two recent passport-sized photographs
• Duly completed account opening form, which can be filled out online via DBS Bank’s website or mobile app
   

Once these documents are submitted and verified, the bank confirms your eligibility and opens your DBS Zero Balance Account.

DBS Zero Balance Account Helpline

DBS provides dedicated customer support to ensure that every DBS Zero Balance Account holder can access quick assistance whenever required. Whether it is a query about banking transactions, account services, or debit card usage, the helpline is available round the clock.

Contact Numbers
 

• For Banking Queries (other than Credit Cards):
  Call the 24-hour customer service helpline at 1860 210 3456 (Mass Market) or 1860 267 1234.
  Overseas customers can reach the helpline at +91-44-66854555.
   
• For Retail Banking Services of erstwhile Lakshmi Vilas Bank (eLVB):
  Contact 1860 267 4567 (24-hour helpline) or +91-44-66854555 (overseas).

Email Support
 

• Retail Banking (including DBS Zero Balance Account):
  customercareindia@dbs.com 
   
• Credit Card Queries:
  • Bajaj Finserv DBS Bank SuperCard – supercardcare@dbs.com 
  • DBS Spark Credit Card – cardcareindia@dbs.com 
  • DBS Vantage Credit Card – vantagecareindia@dbs.com 
     
• Corporate Banking:
  BusinessCarein@dbs.com 

The DBS Zero Balance Account helpline ensures seamless support for customers through multiple channels—phone, email, and overseas assistance. With 24-hour service and specialised contact points, DBS makes banking simple, accessible, and customer-friendly.

Conclusion

The DBS Zero Balance Account is designed to combine convenience with accessibility, offering customers essential banking services without the burden of maintaining a minimum balance. 
 

With added benefits such as PMJDY features, Auto-Saver facility, and competitive interest rates, the DBS Zero Balance Account provides a complete and reliable solution for everyday banking needs.

FAQs

1. Can I link the Auto-Saver facility with my DBS Zero Balance Account?

Yes, the Auto-Saver can be linked to a DBS Zero Balance Account, allowing idle funds to convert into fixed deposits and still keeping your DBS Zero Balance Account liquid for daily use.

2. Is the DBS Zero Balance Account available for NRIs?

The DBS Zero Balance Account is primarily for resident Indians, but NRIs can use linked NRO accounts. This way, even if you hold an NRO FD, it can work alongside your DBS Zero Balance Account.

3. What happens if I exceed ₹1,00,000 in my DBS Zero Balance Account?

Any balance above ₹1 lakh in your DBS Zero Balance Account is automatically swept into fixed deposits, ensuring your DBS Zero Balance Account always earns optimal returns.

4. Does the DBS Zero Balance Account include Pradhan Mantri Jan Dhan Yojana benefits?

Yes, financial inclusion benefits such as free debit cards and unlimited deposits are part of the DBS Zero Balance Account, making the DBS Zero Balance Account ideal for first-time bankers.

5. Can I close my DBS Zero Balance Account anytime?

You can close a DBS Zero Balance Account without penalty, even within six months. This flexibility makes the DBS Zero Balance Account one of the most customer-friendly savings options.

 

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‘Simplify Finance for Everyone.’ This is the common goal of our team, as we try to explain any topic with relatable examples. From personal to business finance, managing EMIs to becoming debt-free, we do extensive research on each and every parameter, so you don’t have to. Scroll up and have a look at what 15+ years of experience in the BFSI sector looks like.