How to Open Fincare Zero Balance Account Online – 2024

Are you struggling to keep a minimum balance in your savings account? Then, you might be interested in a Fincare zero balance account. This product from Fincare Small Finance Bank eliminates the need for a minimum balance, giving you more control and flexibility with your money. It’s a simple and convenient way to manage your finances without any limitations. But how can you open such an account? This is where you may benefit from this article.  It will alk you through the process for Fincare Small Finance Bank zero balance account opening process. Read it till the end.

Types of Fincare Zero Balance Accounts

Before moving forward with the Fincare bank account opening zero balance process, let’s look at the various types of zero balance accounts offered by Fincare. Fincare offers a variety of zero balance accounts, each with unique features and benefits. Below are the details about the types of zero balance accounts offered by Fincare:

1. 101 First    

Features

You can earn up to 7.5%on your savings account and 9.21%* on fixed deposits.
You can withdraw money for free from over 2,00,000 ATMs (this applies to physical debit cards).
You can enjoy free transactions across NEFT/IMPS/RTGS.
You can easily upgrade to a 101 Priority or 101 Priority Plus account.
You can bank anytime, anywhere, with the Fincare mobile app.

Maximum Limit                   –       N/A

Cheque Book Facility          –       N/A

Monthly Withdrawal Limit  –       N/A

Debit Card                             –     Yes

Credit Card                           –      N/A

2. BSBDA Account

Features

No minimum balance requirement
RuPay Classic debit card
Free cheque book
Accidental death insurance cover
Free mobile banking

Maximum Limit                      –                   Not specified

Cheque Book Facility             –                  Not specified

Monthly Withdrawal Limit    –                   Not specified

Debit Card                                –                 Silver RuPay Classic Debit Card

Credit Card                              –                 Not specified

3. Pro Priority Account

Features

Free accident insurance cover up to Rs. 2 lakhs
Unlimited free ATM withdrawals at all Fincare Bank ATMs and all VISA/MasterCard ATMs across India
Free cash management services
Free internet banking and mobile banking
24/7 customer support

Maximum Limit                –          Not specified

Cheque Book Facility       –          Not specified

Monthly Withdrawal Limit  –       Not specified

Debit Card                             –     Free Gold RuPay Classic Debit Card

Credit Card                            –     Not specified

4. Shakti Account                    

Features

Quarterly interest payouts
Free ATM transactions
Special discounts and offers on loans, insurance, and other banking products
Insta account opening
Overdraft protection

Maximum Limit                   –       Not specified

Cheque Book Facility          –       Not specified

Monthly Withdrawal Limit   –     Not specified

Debit Card                              –    Silver RuPay Classic Debit Card

Credit Card                             –    Not specified

5. 101 First Savings Account

Features

Earn up to 7.5% interest on your savings account balance.
Open an FD online and earn up to 9.21% p.a.
Get a free virtual debit card.
Enjoy zero debit card maintenance charges.
Get up to 8 free ATM transactions per month.
Do mobile banking, bill pay, and fund transfers easily

Maximum Limit               –           Not specified

Cheque Book Facility      –           Not specified

Monthly Withdrawal Limit  –       Not specified

Debit Card                            –      Free Gold RuPay Classic Debit Card

Credit Card                           –     Not specified

How to Open Fincare Zero Balance Account Online?

The process of Fincare balance account opening online is very easy. Kindly follow these steps to open the account without difficulty:

• Step 1: Go to the Website
  • Open the official website of Fincare.
• Step 2: Select ‘Apply Now’
  • Locate and select the ‘Apply Now’ button on the website to start the account opening procedure.
• Step 3: Provide Your Information
  • Input your mobile number, email address, and PAN number.
• Step 4: Verify Your Mobile Number
  • You’ll receive an OTP on your mobile device. Input this OTP to confirm your mobile number.
• Step 5: Finish the Application Procedure
  • Follow the instructions to finish the application procedure. This includes providing additional information as needed.
• Step 6: Account Selection 
  • Select Your Preferred Account Fincare provides a variety of accounts, such as 101 First, 101 First Savings Account, BSBDA Account, and Pro Priority Account.
• Step 7: KYC Completion
  • Fulfill the KYC Requirements Choose the Video KYC option to open a Full KYC digital savings account. This will unlock all the features of the account.
• Step 8: Review and Submission
  • Review and Finalize Ensure all the details you’ve entered are correct, confirm them, and then submit your application.
• Step 9: Mobile App Installation
  • Install the Mobile App Once your account is set up, download the Fincare Mobile Banking app for convenient access to your account. This enables you to carry out online fixed deposits, bill payments, and unlimited fund transfers.

How to Open a Fincare Zero Balance Account Offline?

Follow these simple steps to open a Fincare account opening zero balance offline:

• Step 1: Locate a Fincare Branch
  • Find the nearest branch of Fincare and visit during its operational hours.
• Step 2: Acquire Account Opening Form
  • Request the bank official for a form to open a Zero Balance Account.
• Step 3: Complete the Form
  • Provide accurate personal, contact, and KYC information on the form
• Step 4: Provide Required Documents
  • Send in the required paperwork, including the completed form, your PAN card, identification, and proof of address.
• Step 5: Await Verification
  • The bank will take time to verify the information and documents you provided.
• Step 6: Activation of Account
  • Upon successfully verifying and approving your details, your Fincare Zero Balance Account will be activated.

Fincare Zero Balance Account Interest Rates

Fincare zero balance account with competitive interest rates to cater to the needs of its customers. Below are the interest rates for Fincare Zero Balance Accounts:

Fees and Charges of Fincare Zero Balance Account

There are certain fees and charges that you must now before taking the step of Fincare bank zero balance account opening. Some common fees associated with such accounts are:

1. Account Closure – Individual

If you decide to close your account, a fee of ₹100 will be charged. However, this fee is waived if the account is closed after 1 year.

2. Reissuing Debit Cards or Adding Insta Cards as an Add-On

An Insta Card cost of ₹200 will be incurred if you need to reprint your debit card or add another card.

3. Reissuing Debit Cards or Adding Personalised Add-on Cards

Reissuing or adding a customised debit card will also set you back ₹200.

4. Fincare ATM Debit Card Withdrawal Transactions

Fincare ATMs allow you to make up to 15 free transactions each month. Every transaction after this will cost ₹20.

5. Debit Card Withdrawal Transactions at Non-Fincare ATM

Withdrawal transactions at non-Fincare ATMs will cost ₹21 each.

6. Debit Card Non-Financial Transactions at Non-Fincare ATM

Non-financial transactions at non-Fincare ATMs will cost ₹11 each.

7. CTS Cheques Deposited Return for Insufficient Funds

If a cheque you deposit is returned due to insufficient funds, a fee of ₹100 will be charged per instance.

8. CTS Cheques Deposited Return for Other Reasons

If a cheque you deposit is returned for reasons other than insufficient funds, a fee of ₹50 will be charged per instance.

9. CTS Cheque issued return – Insufficient Funds

If a cheque you issue is returned due to insufficient funds, a fee of ₹300 will be charged per instance, up to once per month.

10.CTS Cheque Issued Return – Other Reasons

If a cheque you issue is returned for reasons other than insufficient funds, a fee of ₹100 will be charged per instance, up to once per month.

11. NACH Return – Insufficient Funds

If a NACH transaction is returned due to insufficient funds, a fee of ₹300 will be charged.

12. NACH return – Other Reasons

If a NACH transaction is returned for reasons other than insufficient funds, a fee of ₹100 will be charged.

13. Cash Deposit Transactions (Home & Non-Home Branch)

After the free limit, each cash deposit transaction will cost ₹4 per ₹1,000 deposited, with a minimum charge of ₹50.

15. Cash Withdrawal Transactions (Home & Non-Home Branch)

After the free limit, each cash withdrawal transaction will cost ₹4 per ₹1,000 withdrawn, with a minimum charge of ₹50.

16. Locker Charge – Category A (Small )

Renting a small locker costs ₹2000 for Category A (Small), ₹3000 for Category C (Medium), and ₹5000 for Category F (Large) annually.

17. Money Transfer

For IMPS transfers, the charges are as follows:  

NEFT made through mobile banking and internet banking, do no incur any cost.

Eligibility Criteria to Open Fincare Zero Balance Account

To understand the process of Fincare small finance bank zero balance account opening, you must understand its eligibility criteria.  The eligibility criteria for opening a Fincare Zero Balance Account are:

 1. Age

You have to be at least 18 years old.

2. Nationality

You have to be a citizen of India.

3. Residence for Taxation

You ought to reside in India for tax purposes.

Documents Required to Open Fincare  Zero Balance Account

For a successful Fincare bank account opening process, you must have certain documents. The required documents are:

1. Proof of Identity

You can use your Aadhaar card, PAN card, or driver’s license. These documents are needed to confirm your identity.

2. Proof of Address

Proof of Address Utility invoices or leases can be used as proof of address. Your current residence address will be verified with the help of these papers.

3. Proof of Business (if applicable)

You may be required to submit further paperwork, such as your partnership deed or GST registration form, if the account is intended for commercial usage.

Fincare Zero Balance Account Welcome Kit

Fincre bank does not provide a physical welcome kit for any Fincare Zero Balance Account. Instead, all the necessary information and tools are provided digitally through their online banking platform and mobile app. This approach aligns with the bank’s commitment to digital banking and environmental sustainability. It also ensures you can access your account and banking services immediately upon opening the account. 

Fincare Zero Balance Account Helpline

Fincare Small Finance Bank provides a helpline for their zero balance account holders. This ensures that you get the required support and solutions to your queries when you need them:

Final Word

The Fincare Zero Balance Account makes it easier for everyone to use banking services. It offers a wide range of features, including digital banking and personalized customer service, to provide a smooth banking experience that can be customized to each customer’s needs. By choosing the Fincare Zero Balance Account, you can enjoy a banking experience that is easy, adaptable, and focused on your needs. Start enjoying hassle-free banking today!

FAQs