Central Bank of India zero balance account opening online has become easier than ever. Central Bank of India offers convenient savings accounts that do not require maintaining any minimum balance. This has made banking access simple for all. This blog discusses the various zero balance account types provided by Central Bank of India. It explains how customers can open such accounts both online and offline in simple steps. The key features, documents required, interest rates and other benefits are covered in detail section-wise for quick reference.
Types of Central Bank of India Zero Balance Account
Central Bank of India offers different types of zero balance accounts to suit various customer needs. The major account types are:
| Account | Features |
| Regular Savings Account | No minimum balance requirementUnlimited depositsATM card for cash withdrawalOnline banking facilities |
| Salary Account | Enjoy benefits like OD facility against salary creditFree unlimited transactionsFund transfer and bill payment services. |
| Students Savings Account | Attractive interest rates for youngstersEasy account opening processSpecial offers on banking and investment products. |
How to Open Central Bank of India Zero Balance Account Online?
Central Bank of India has made the process very easy for customers to open an account without visiting a branch.
- Visit the bank’s website and click on the option for account opening.
- Enter basic details like name, address and contact details asked in the online form.
- Choose the account type from the options provided like savings, salary etc.
- Upload scanned copies of required documents like address and identity proof.
- Sign digital signature on the Central Bank of India zero balance account opening form.
- Your details will be verified online and login credentials sent via email or mobile.
- Log into internet banking to check your new account details.
- You can start using online facilities like fund transfer, bill payments etc. right away.
How to Open Central Bank of India Zero Balance Account Offline?
For customers who prefer the traditional way or do not have central bank online account opening zero balance access, Central Bank of India allows opening an account offline too.
- Visit the nearest branch with the required documents.
- Carry valid identity and address proof like Aadhaar, PAN, Voter ID.
- Fill the printed account opening form available at branch.
- Provide details such as name, address, phone number etc.
- Choose savings or other account type as per needs.
- Staff will verify documents and process the application.
- An initial deposit may be required in some cases.
- Sign the account opening form in presence of bank staff.
- Get activated ATM/Debit card or other facilities at branch.
- Start using cheque book and accessing account instantly.
So even customers preferring a physical visit can enjoy zero balance convenience at Central Bank of India.
Central Bank of India Zero Balance Account Interest Rates
| Sr. No. | Balance at End of the day | Revised rate of interest w.e.f. 10.02.2024 |
| 1 | Up to Rs 10 Crores | 2.80 % p.a. |
| 2 | above Rs 10 Crores to <=100 Crores | 3.00 % p.a. |
| 3 | above Rs 100 Crores to <=1000 Crores | 3.10 % p.a. |
| 4 | Above 1000 Crores | 3.25 % p.a. |
Fees and charges of Central Bank of India Zero Balance Account
Opening an account with Central Bank of India is absolutely free of cost. Customers do not need to pay any charge for Central bank of India online account opening zero balance.
- Most transactions like deposits, cash withdrawals, fund transfers are free of cost.
- Debit card issuance is provided free as well. Only annual maintenance charges are applicable for debit cards.
- Cheques books are also available at affordable prices based on number of leaves.
- No penalty is imposed for not maintaining minimum balance in these accounts.
- Bank may charge a nominal fee for value-added services like FASTag recharge, locker rent etc.
- Interest is paid to account holders at rates set by the bank from time to time.
So, with zero maintenance charges involved, it is very cost effective to use Central Bank of India zero balance accounts.
Eligibility criteria to open Central Bank of India Zero Balance Account
Central Bank of India has kept minimum requirements to central bank zero balance account for both Indian citizens and other customers.
- One need to be an adult citizen of India above 18 years of age.
- Submit valid address and identity proof documents.
- For NRI and foreigner, passport and valid visa details required.
- Students need to provide bonafide certificate and ID proof.
- Senior citizens need to furnish proof of age above 60 years.
- Photos, signatures are required as per bank guidelines.
- Occupation and income details must be given if asked.
- Online account can be opened using e-KYC Aadhaar based process.
- Offline accounts may need introducer for new to bank customers.
So, in summary, minimum age of 18 years and valid KYC documents are basic must to open any type of Central Bank of India zero balance account.
Documents required to Open Central Bank of India Zero Balance Account
To fulfill Know Your Customer (KYC) norms and anti-money laundering compliance, certain documents are required to open an account.
- For proof of identity, valid Aadhaar/PAN card or voter ID/passport is required.
- For proof of address, voter ID/passport/driving license/Aadhaar can be submitted.
- In case of any mismatch in name, additional name proof may be asked.
- Students need bonafide certificate and identity proof of parent or guardian.
- Senior citizens to show valid senior citizen card or passport.
- Self-declaration form also to be filled for current and permanent address.
- Occupation proof needed for salary or business accounts only.
- Photographs and signatures as per bank standards.
Customers can avail convenient e-KYC process by linking their Aadhaar for central bank zero balance account opening online.
Central Bank of India Zero Balance Account Welcome Kit
After completing account opening process, Central Bank of India provides essential account kits to new customers.
- Debit Card issued with activation instruction guidebook.
- Self-declaration form acknowledgement slip sent by email or post.
- Specimen signature and personalized cheque book with cheques delivered.
- Passbook to maintain transaction history is provided on request.
- Guide to Internet Banking access and usage tips shared.
- Password with login credentials set to bank’s mobile app and website.
- All common contacts and helpline numbers listed for support.
- Banking, insurance and investment offer details as welcome gifts.
- Welcome letter reiterating important terms and conditions sent.
This helps customers to start using the new central bank of India 0 balance account seamlessly for basic needs and explore value added services.
Central Bank of India Zero Balance Account Helpline
For any queries related to Central Bank of India zero balance account, customers can contact the bank customer support staff through below channels:
| Head Office | Central Bank Building, 2nd floor M.G. Road, Hutatma Chowk, Fort, Mumbai 400 023 |
| Helpline Numbers: | 1800 22 1911/1800 202 1911 |
| Helpline Email: | [email protected] |
Final Word
Central Bank of India has simplified the banking process of Central Bank of India zero balance account opening online for different customer segments. Both individuals and professionals can choose the best suitable account type. With online opening made smoother through e-KYC process, customers can open accounts from anywhere anytime on their own schedules. The zero maintenance accounts come with basic banking needs addressed at no extra cost. Existing customers should also consider upgrading to central bank of India 0 balance account for better utility.
FAQs
Yes, Central Bank of India offers zero balance savings accounts that do not require maintaining any minimum average balance. They have regular savings, salary and other account types which come with basic banking facilities but without the burden of balance requirements.
Yes, opening a zero-balance bank account online has become quite easy nowadays. Central Bank of India allows its customers to open savings account via internet banking portal. You only need to visit the bank website, provide basic details there and upload KYC papers for identity and address proof. An instant e-KYC verification is done using Aadhaar linking. On approval, login credentials will be sent on your registered mobile.
CBI zero balance account do not have any mandatory minimum average balance that needs to be maintained every month. Customers are free from the burden of keeping a pre-defined amount idle in these accounts. One can operate it similar to a regular savings account for basic banking but without balance-related charges or penalties.
Yes, Central Bank of India provides ATM-cum-debit cards to customers opening zero balance savings accounts as well. This allows account holders to withdraw or deposit cash from any ATM linked with major National Financial Switch or Visa/Mastercard networks.
There are several public sector and private banks offering zero balance savings accounts in India with varied features and benefits. Typically, most leading banks like SBI, HDFC Bank, ICICI Bank, Axis Bank and Central Bank of India provide comprehensive zero balance account facilities with online-offline options at best rates.
Disclaimer
This article is solely for educational purposes. Stable Money doesn't take any responsibility for the information or claims made in the blog.
