GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which one of the following is known as a Savings Bank Account opened with a commercial bank with zero balance or very minimal balance?
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No frill account
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Current Account
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Savings Bank-ordinary Account
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Students Savings Bank Account
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Explanation:
Detailed explanation-1: -A zero-balance account refers to a savings bank account, which has a zero balance in it and yet not charged. It is legally known as Basic Savings Bank Deposit (BSBD) account as per the Reserve Bank of India (RBI) guideline.
Detailed explanation-2: -HDFC Bank You also get four free withdrawals, including IMPS, cash withdrawal, and NEFT/RTGS, every month with no limit on the amount. Safe deposit locker and super saver facilities are available. This zero balance savings account in HDFC offers a complimentary RuPay debit card.
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