"Rejected." That is the message you will see when you apply for your first Personal Loan or Credit Card if you have no CIBIL score. In India, "No Credit History" is almost as bad as "Bad Credit History." Whether you want to buy an iPhone on EMI, get a bike loan, or apply for a Premium Credit Card, you need a CIBIL score of 750 or higher . But how do you build a score if no bank will give you a loan? This is the classic "Chicken and Egg" problem. Fortunately, in 2025, there are 3 guaranteed ways to build a perfect score without having a job or salary slip. 1. The "FD-Backed" Credit Card (The Golden Ticket) This is the fastest way to build a score from scratch (0 to 750). How it works: You give the bank a small Fixed Deposit (e.g., ₹2,000 or ₹5,000). In return, they give you a Credit Card with a limit of 90% of your deposit. Why banks love it: Since they have your deposit, there is zero risk for them. Best Cards for this: IDFC First WOW...
As a student, the worst notification to receive from your bank is: "Your account has been charged ₹500 for non-maintenance of minimum balance."
When we are already surviving on limited pocket money, keeping ₹5,000 or ₹10,000 blocked in a bank account just to avoid fines makes no sense.
Fortunately, digital banking in India has changed the game. Today, I am listing the Top 5 Zero Balance Savings Accounts that are perfect for students. No hidden charges, no minimum balance, and totally digital.
1. Kotak 811 (Digital Savings Account)
This is arguably the most popular choice for students.
Minimum Balance: ₹0 (Zero).
Interest Rate: Up to 4% p.a.
Features: You get a Virtual Debit Card instantly for online shopping. No need to visit the branch; video KYC is done from home.
2. SBI Basic Savings Bank Deposit (BSBD)
If you trust government banks more, this is the official "Zero Balance" account from the State Bank of India.
Minimum Balance: ₹0.
Debit Card: You get a standard RuPay Debit card for free.
Limitation: You can only make 4 free withdrawals from ATMs per month. After that, they charge a small fee.
3. AU Small Finance Bank (Digital Savings)
A rising star in the banking sector offering high interest rates.
Interest Rate: They often offer higher rates (up to 7% on certain balances) compared to big banks.
Monthly Payouts: Unlike other banks that pay interest quarterly, they pay interest monthly.
4. Bank of Baroda (Bro Savings Account)
Yes, it is actually called the "Bro" account (Baroda Radiance for Youth).
Target Audience: Specifically designed for students aged 16 to 25.
Perks: Zero balance, free chequebook, and special offers on education loans.
5. Jupiter / Fi Money (Neobanks)
These are apps that partner with Federal Bank to offer a 100% digital experience.
Why Students Love It: The app interface is amazing. It tracks your expenses (like how much you spent on Zomato vs. Books) automatically.
Savings Pots: You can create "Pots" to save for specific goals (e.g., "Goa Trip" or "New Phone").
Conclusion
Stop paying fines to your bank. If your current bank asks you to maintain ₹5,000, close that account today and switch to one of these Zero Balance options. Your money should grow, not disappear in penalties.
Want to fill that new bank account with cash?
Check out my guide on: 👉
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