Opinion/Suggestion - Best 0 balance digital saving account for UPI

[Reaper]

After the fiasco with Paytm Payments Bank, I am looking forward to opening a 0 balance savings account majorly for UPI transactions.
I am not concerned about rewards or interest however below are my major criteria:

• Should have a strong IT backend so it does not impact regular UPI transactions.
• Must support UPI Lite
• Not interested in Debit Card hence virtual debit card would be more than sufficient
• I am open to submitting all necessary documents as part of my account opening except for AADHAR linked mobile number (instead I want my account to be linked to my alternate number)
• Minimum branch visit as soon I will be moving abroad for 2 years

Please suggest to me the best account that fulfils my above needs.

Thought of Kotak's 811 Digital account but got afraid after listening to multiple complaints of the account getting frozen.

 

[Reaper]

Why not SBI regular savings account? There is no minimum balance requirement afaik and core tech / internet banking are solid. Branch visits are a concern but why would you need to visit the branch?

RBI has recently mandated that all digitally opened accounts must be opened with the same mobile number which is linked with your Aadhar. It is a bit of a mess because Aadhar allows multiple people to have same linked phone number, but many banks do not like different customers to have the same mobile number, add their software cannot handle this. If you still want to open digitally, the way to do it is open with that mobile number initially and then after the cooldown period, change mobile number using the bank's process.

I have my PPF account with SBI and whenever I visit there to update my passbook unka lunch time he chalta rehta hai.
I didn't know RBI had come up with such a mandate but still banks should be able to tweak their software in such a way that it gives the option to choose a mobile number during account opening.

 

[Cc_creditguy]

Zero balance has RM ?

No no. No

 

[Reaper]

you can always use a 3rd party app that supports UPI app

For UPI Lite to work, both banks and mobile app should support this feature.
It was initially launched with 6 banks and currently, this list contains 22 banks. I don't understand why major banks like IDFC & Indusind Banks haven't implemented it yet. And same goes for Apps, only 3 of them are compatible apart from BHIM.

Product Overview

www.npci.org.in

 

[Reaper]

Yes AU provide RM

Are you sure AU Bank provides RM to its 0 balance account holders?
If this is true then I think it's the only bank that offers RM in a 0 balance account.

 

[vine]

On a related note,
What all should we do before uninstalling Paytm app?

As of now , I have:
Disabled UPI Lite,
Made paytm wallet as zero,
Unlinked credit cards
Unlinked third party apps, like Uber, Ola, etc.

 

[tharun]

Are you sure AU Bank provides RM to its 0 balance account holders?

I have an RM for my zero balance account.

 

[ashwink]

Are you sure AU Bank provides RM to its 0 balance account holders?
If this is true then I think it's the only bank that offers RM in a 0 balance account.

Yes AU provide RM in zero balance account

 

[shinchan]

Kotak 811 is best
Regarding freezing it's not an issue
Unless you are doing some illegal stuff or crypto,etc
Truly zero balance

Ayo doreamon are you sure it won't get freezed I'm using it for my SIP's and updated annual income to 5-10 lakhs and occupation to self employed (hehe)

 

[Vasuki]

Ayo doreamon are you sure it won't get freezed I'm using it for my SIP's and updated annual income to 5-10 lakhs and occupation to self employed (hehe)

Depends on amount ..
But should go smoothly

 

[ritwik2000]

Digi youth is 5k if u are from urban area

bhai nearest semi urban/rural branch kaise nikalu.... city outskirts jyada dur nhi he mere area se

 

[NShah]

bhai nearest semi urban/rural branch kaise nikalu.... city outskirts jyada dur nhi he mere area se

https://dbieold.rbi.org.in/DBIE/MOFSelectParam.jsp . . .

 

[doraemon]

bhai nearest semi urban/rural branch kaise nikalu.... city outskirts jyada dur nhi he mere area se

Search dbie rbi
Then check rural branch in area


Don't opt for bc branches

If possible check for semi urban actual branch

 

[ritwik2000]

@NShah @doraemon thanks a lot

 

[ritwik2000]

bhai hdfc digi youth ya fir sb farmers konsa sahi rahega ? digi wala me amb 2500 aur farmer wala me ahb 2500. @DocFixIt @doraemon

 

[Vasuki]

bhai hdfc digi youth ya fir sb farmers konsa sahi rahega ? digi wala me amb 2500 aur farmer wala me ahb 2500. @DocFixIt @doraemon

Digi Youth anyday

 

[ritwik2000]

debit card konsa dega ?

Digi Youth anyday

 

[Vasuki]

debit card konsa dega ?

Millennia fyf

6 month no non maintenance charges

 

[ankit ojha]

Anyone using jio payment bank?any suggestions should I open it or not.

 

[Vasuki]

Anyone using jio payment bank?any suggestions should I open it or not.

Kuch aur use krle Bhai filhal

 

[ankit ojha]

Kuch aur use krle Bhai filhal

hm. Thank you