Financial Freedom at Zero Balance: Your Quick Guide to Opening a No-Fee Savings Account

Financial Freedom at Zero Balance: Your Quick Guide to Opening a No-Fee Savings Account

20 December 2023

In a world where financial independence is a key goal for many, finding ways to optimize your savings is crucial. One powerful tool in achieving this is a no-fee savings account. These accounts not only help you build your wealth but also eliminate unnecessary charges that can eat into your hard-earned money. Let’s explore the concept of financial freedom at zero balance and provide insights into opening a no-fee savings account in this blog. 

Understanding no-fee savings accounts: 
No-fee savings accounts are financial instruments that allow you to save and grow your money without incurring any charges for maintenance or transactions. Traditional savings accounts charge a penalty when the accountholder fails to maintain a minimum monthly balance. ATM cash withdrawal also costs a certain sum on exceeding the maximum number of free transactions. Accountholders are also charged up to ₹750 for the issuance of a debit card basis their card type. Payment transfer charges of up to 5% are also incurred on individuals using services like NEFT/IMPS/RTGS. On the contrary, with a no-fee savings account you won't be burdened by monthly or annual maintenance fees. Enjoy the freedom of unlimited transactions without worrying about additional costs of deposits, withdrawals, and transfers. This means your money stays in your account, and works for you!


Grow your money with INDIE by IndusInd Bank
INDIE is an all new revolutionary app backed by the legacy of over 29 years of IndusInd Bank and the trust of over 35 million customers. Enjoy a digital bank account opening process that gets you one of the highest interest rate on a savings account of up to 6.75% p.a. 

INDIE offers its savings account in 3 tiers:

While all the accounts have 0 annual balance maintenance charges, each comes with its own unique features:


INDIE Star Account


INDIE Superstar Account


INDIE Megastar Account

(1 INDIE Gem = ₹1).


How to open your INDIE savings account?

Follow the below-given steps to open your INDIE savings account today: 

  1. Download INDIE by IndusInd app from Google Play Store or Apple App Store
  2. Open your INDIE app and enter your mobile number for OTP verification
  3. Now, setup MPIN to safeguard your account details
  4. Enter PAN and Aadhar details for verification
  5. Once your Aadhar is verified, enter your personal details
  6. Complete your VKYC and fund your INDIE account to finish account setup


To sum it up:

Achieving financial freedom doesn't have to be an expensive journey. By opting for a no-fee savings account, you can maximize your savings and take control of your financial future. INDIE by IndusInd Bank has been designed for a truly ‘You-first’ banking experience and offers a zero-balance savings account for utmost convenience. Expect a high interest rate of up to 6.75% p.a. on your INDIE savings account, invest in an INDIE FD to multiply your savings with high returns of up to 7.5% p.a. and opt for a linked FD for maximum benefits! With the right financial tools, you can pave the way to a future where your money works for you, not against you.

Disclaimer: Views are personal opinions of the author.
The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.