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Features

  • Zero Balance Account
    Individuals can open a Basic Savings Bank Deposit Account (BSBDA) without any minimum balance requirement.
    Simplified KYC norms and e-KYC options for easy account opening.
  • RuPay Debit Card
    Free RuPay debit card issued to all account holders.
    Comes with accidental insurance cover of ₹2 lakh (₹1 lakh for accounts opened before Aug 28, 2018).
  • Overdraft Facility
    Up to ₹10,000 per household after 6 months of satisfactory account operation.
  • Direct Benefit Transfer (DBT)
    Enables direct credit of government subsidies and welfare benefits into the account.

Benefits

  • Financial Inclusion
    Brings unbanked and underprivileged sections into the formal banking system.
  • Economic Empowerment
    Provides access to credit, insurance, and pension facilities, reducing reliance on informal lenders.
  • Social Security
    Free insurance coverage and overdraft facility offer financial protection during emergencies. [nextias.com]
  • Convenience & Accessibility
    Zero balance accounts, RuPay cards, and mobile banking make banking affordable and easy for rural households.