What zero-balance accounts offer

Zero-balance savings accounts are designed to open up banking without maintaining a minimum balance. They are hugely popular among students, first-time account holders, and salaried individuals whose salaries get credited directly. The account holders do not need to pay the minimum balance, thereby avoiding penalty charges normally levied on traditional savings accounts.

Hidden fees to be aware of

Although these accounts eliminate minimum balance fees, they are not fully charge-free. Some services like the issuance of checkbooks, additional debit cards, or more than one ATM withdrawals can incur fees from banks. Some accounts also have fees for electronic fund transfers beyond a specified limit. It is crucial to be aware of these charges to avoid unexpec

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