Need info on Zero balance Savings account

[tuhin]

Not take its reverse, you have saving account +PPF in other bank, are they allowing to do in same condition !!!

Yes. They allow, except few other banks like Indian Bank etc

 

[vijaycard]

Hi , I already hold hdfc and idfc bank savings account for different purposes. HDFC is for salary and idfc for investments. Now I wanted a zero balance account for daily upi spends, with free debit card preferably from a psu.
So I selected SBI insta plus account that comes with free virtual dc. However, while applying the account, it's asking to submit details for physical dc that is definitely chargeable. How to skip that part? I want only free virtual dc.
Also, will I be able to setup UPI without physical debit card?

Another alternative is Bob lite But i have to maintain atleast 3k daily in order to waive off physical dc charges. I preferred SBI Because it would help me in taking their credit card in future.
Also are there sms alert charges in both these accounts? Pls guide.

SBI most of the times upi won't work.
I have bob lite which works fine. Fully online account opening process through video kyc. While applying u can choose Branch of yr choice and DC also optional. Even if u apply physical debit card it is Fyf. After 10 months u can block it. U can apply for virtual dc in their app both as additional or main card. But only rupay variant is available in that option.

If u opt out physical card while applying it's literally zero balance.
Even with physical card its only card annual fee u need to pay.

Other option. Is kotak 811 which I want to apply. Don't have personal experience yet

 

[tuhin]

SBI most of the times upi won't work.
I have bob lite which works fine. Fully online account opening process through video kyc. While applying u can choose Branch of yr choice and DC also optional. Even if u apply physical debit card it is Fyf. After 10 months u can block it. U can apply for virtual dc in their app both as additional or main card. But only rupay variant is available in that option.

If u opt out physical card while applying it's literally zero balance.
Even with physical card its only card annual fee u need to pay.

Other option. Is kotak 811 which I want to apply. Don't have personal experience yet

BOB Physical DC is FYF but there is an issuance charges of the same amount which is making it similar i.e. DC Charges from day 1. Though, BOB Lite has one feature to maintain 3K average balance to waive off PDC fee. Also, BOB has little UPI outage ratio over Lord SBI but there is a common outage after 12am every night which is annoying. If you send any money to your BOB account, it will not reflect with your total balance during any transaction post 12am. So, BOB doesn't offer 24/7 banking facilities technically.

Kotak 811 is another good choice indeed. Overall IT infrastructure is good in Kotak. Outages are very very rare here but the bank is not a trustable enough. Sometimes they push you unnecessary products. You need to be vigilant before having a banking relationship with them.