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Basic Savings Bank Deposit Account

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Basic Savings Bank Deposit Account or BSBDA in India is a savings account that does not have a minimum balance.[1] The maximum amount in the account cannot exceed 50000 INR at any time,[2][3] and the total deposits cannot exceed 100000[4] INR in a year.

The account holders receive a debit card and they can have certain number of deposits and withdrawals per month. The Reserve Bank of India has introduced this for the poorer sections of the society.[5]

References

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  1. ^ "Basic Savings Bank Deposit Account (BSBDA) - A Complete Guide | HDFC Bank". www.hdfcbank.com. Retrieved 2024-12-05.
  2. ^ "Reserve Bank of India". www.rbi.org.in. Retrieved 2024-12-05.
  3. ^ "Basic Savings Bank Deposit Account (BSBDA) - A Complete Guide | HDFC Bank". www.hdfcbank.com. Retrieved 2024-12-05.
  4. ^ "BSBDA - Open Basic Savings Bank Deposit Account Online | AU Small Finance Bank". www.aubank.in. Retrieved 2024-12-05.
  5. ^ "Basic Savings Bank Deposit Account - Personal Banking". sbi.co.in. Retrieved 2024-12-05.
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