HDFC Bank Family Savings Group Account

HDFC Bank Family Savings Group Account Details Updated on
Average Monthly Balance (AMB)
  • Rs. 40,000 is the limit for combined AMB in all accounts together
  • New accounts that are grouped should contain a pay-in amount initially same as their respective AMB
  • For instance, the initial amount in a Kids Account – Rs. 5,000 but the same for a regular savings acc. is Rs. 10,000 and henceforth
Interest Rate 3.00% to 3.50%
Debit Card EasyShop International Debit Card

HDFC Bank Family Savings Group Account helps you to pool savings bank (SB) accounts of your family members under one group. Then you get additional benefits for all the members of the group account (acc.). You can also continue with the services available for the respective accounts. Thus, the advantage is doubled, and the members can maximize returns with a high rate of interest. Also, you can shop, pay bills, transfer funds at no/minimal charges.

In this post, we will cover topics such as HDFC Family Savings Account for Group features, eligibility criteria, fees and charges, FAQs.

Features of HDFC Bank Family Savings Group Account

Here are the features:

  • Get 50% off on locker rental. The same is calculated on a pro-rata basis in the initial year of the allotment.
  • Free EasyShop International Debit Card for a lifetime for group members.
  • Cash withdrawals are free at any bank ATMs.
  • Free DD/MC up to Rs. 50,000 per account at branch locations, every month.
  • Free bill payment, email statements, passbook facility for individual account holders.
  • 5 cash withdrawal transactions are free at HDFC Bank and non-bank domestic ATMs.
  • Sweep-in service is allowed from one savings account to another.
  • Phone banking, net banking, mobile banking to pay bills/stop cheque payments through SMS, and check acc. balance

HDFC Bank Family Savings Group Account Interest Rates

Here is more information:

  • For balance in acc. of Rs. 50 lakhs and above, the rate is 3.50%.
  • For balance below Rs. 50 lakhs, the rate is 3.00%.
  • The interest is calculated on the daily balance you maintain in the account.
  • The payment of the accrued interest is at quarterly intervals.

Eligibility for HDFC Bank Family Savings Group Account

The below-mentioned eligibility criteria for existing members. No new accounts can be clubbed under this scheme. A family is accounted as spouse, mother, father, daughter, son, sister, brother, grandchild, or grandparent. Here are the norms for those who could apply for the acc.

  • Members with a bank account at HDFC Bank can access this SB acc.
  • Under Family Savings Group, at least 2 and a maximum of 4 accounts are groupable.
  • NR (non-resident) accounts are also groupable.
  • The primary account holder’s customer ID will be the group ID.
  • Under this scheme, it is not possible to group current accounts, savings max, and HUF accounts.
  • The primary account holder has to be an adult, not a minor.

Fees and Charges HDFC Family Savings Group Account

Here are the details:

Family Savings Account Particulars Charges
Non-maintenance of AMB
  • The bank will send a notice to the customer through email/letter/SMS in advance about non-maintenance in the first month
  • In case, the customer does not restore the AMB in the next month from the date of a shortfall, he/she has to pay the applicable penal charges for all the months, including that of the notice
Charges for non-maintenance AMB Slabs
Rs. 600
  • >= 30,000 to < 40,000
  • >= 20,000 to < 30,000
Rs. 600 or 6% of the upper limit of shortfall in the AMB, whichever is lower
  • >= 10,000 to < 20,000
  • 0 to < 10,000
Cheque Book
  • Get 25cheque leaves books half-yearly (April – September, October – March). Thus, 2 cheque books free every financial year
  • You have to pay Rs. 75 henceforth for every extra cheque book containing 25 leaves
PAP Cheque Book Usage NIL
Monthly Account Statements Free, and sent through the post
Duplicate/Adhoc Statements
  • Physical Copy at the branch will cost Rs. 100. Through phone banking, it costs Rs. 75, and Rs. 50 through net banking, ATM, mobile banking, or IVR phone banking
  • Soft copy has no charge when issued on the registered email address or the last 5 years statement availed on the net banking portal
  • For senior citizens, the cost is Rs. 50 through phone banking or at the branch. The cost is Rs. 30 if through net banking, ATM, mobile banking, or phone banking (IVR)
Issuance of Passbook Free
Issuance of a Duplicate Passbook Rs 100 per instance
Issuance or Reissuance of Managers Demand Drafts/Cheques at Branch Locations Fees Through Bank (MC/DD)
No charges per account for a month if up to Rs. 50,000 Over this limit, it costs Rs. 5 per Rs. 1,000 subject to a minimum of Rs. 75 and Rs. 10,000 at the maximum
Request for DD via Phone Banking
  • Rs. 30 for DD Up to Rs. 50,000
  • Note- The bank accepts DD amount up to Rs. 1 lakh for Imperia/Preferred and Rs. 50,000 for other customers
Request for DD Via Net Banking
Rs. 50/- + corr. bank charges Up to Rs. 1 Lakh
Or third-party Demand Draft up to Rs. 1 lakh
Cancellation/Revalidation of Managers Demand Draft/Cheque Rs. 100
No charges of the same request are up to Rs. 1,000 instruments
Issuance of Demand Drafts- at Non-bank Location Rs. 50 + charges as mentioned here:
Rs. 10 Up to Rs. 500
Rs. 15 More than Rs. 500 to Rs. 1,000
Rs. 25 More than Rs. 1,000 to Rs. 5,000
Rs. 30 More than Rs. 5000 to Rs. 10,000
Rs. 6 per 1,000 or part thereof, but the maximum charge is Rs. 10,000 and the minimum is Rs. 75 More than Rs. 10,000
Cheque Collection at Local Clearing Zone No fees
Cheque Return Drawn on the Bank
  • Rs. 350 for first cheque return in a quarter in case of insufficient funds
  • In case of lack of funds, the cost is Rs. 750 from the second cheque return in the same quarter
  • Rs. 50 per instance for the incident due to technical reasons
  • Rs. 350 for the incident due to fund-transfer cheque return
Deposited Cheque Returned Unpaid Rs. 100 per instance
Inquiry for Balance at the Branch NIL
Interest Certificate Rs. 50
Balance Certificate Free for the current year and Rs. 50 for the previous year
TDS Certificate No fees
Closing the Account from the Opening Date
  • No charges for up to 14 days and beyond 12 months
  • Rs. 500 when done from the 15th day to 12 months
Address Confirmation Rs. 50 per instance
Photo Attestation Rs. 100 per instance
Standing Instructions Rs. 25 per transaction + remittance charges
Stop Payment Rs. 100 for a particular cheque but free via net banking and Rs. 200 for a range of cheques but free through net banking
Dormant Account Activation Free
Copy of Paid Cheques or Old Records Rs. 100 per record for above 1 year and Rs. 50 per record for up to a year
Unarranged Overdraft Not applicable
All the Transactions at the Branch
  • No charges if AMB of the last month is equal to or over Rs. 50,000
  • If the AMB goes below Rs. 50,000 then 15 transactions are free for the month
  • After this limit from the 16th transaction, Rs. 75 per instance will apply
Deposit of Local Cheque at Outstation Acc. Free
Phone banking – IVR and Non IVR Free
ATM Card Free
Replacement of ATM Card Rs. 200 + taxes
Transaction Fee for Partner Banks Andhra Bank and SBI Free cash withdrawal at any other bank ATM and free balance inquiry
Annual Fee and Renewal Fee for a Regular Debit Card NIL
Annual Fee and Renewal Fee for Women’s Card Rs. 150 per year + taxes
Replacement of Debit Card
  • No charges on replacing a damaged card
  • Rs. 200 + taxes for the replacement of a lost card
PIN Regeneration Rs. 50 + taxes
Declined Transaction Because of Lack of Funds Rs. 25 + taxes for declined transactions at other bank ATMs anywhere or merchant outlet outside India
Add-on Regular Debit Card
  • Rs. 150 per year + taxes
  • For the first year, one add-on card free
Add-on Woman’s Card Rs. 150 per year + taxes
BillPay NIL
InstaPay Rs. 10 + taxes per transaction
InstaAlert
  • Rs. 15 every quarter from the start of the financial year
  • Those with email as the delivery channel will bear no charges
Visa Money Transfer Rs. 5 + taxes per transaction
Online Mode RTGS - Outward Free
At Branch RTGS - Outward
  • Rs. 25 + taxes per transaction for over Rs. 2 lakhs to Rs. 5 lakhs
  • Rs. 50 + taxes per transaction for over Rs. 5 lakhs
RTGS - Inward NIL
IMPS Outward
  • Rs. 5 + taxes per transaction for amount up to Rs. 1 to Rs. 1 lakh
  • Rs. 15 + taxes per transaction for amount over Rs. 1,00,001 to Rs. 2 lakhs
IMPS Inward NIL
Banking Through Mobile Free
Banking Through Internet Free
ECS/ACH (Debit) Return Rs 500 + taxes per instance
SI Rejects Rs. 200 per instance
Request for Physical Dispatch of IPIN Regeneration Rs. 100 per instance
Request for Physical Dispatch of TIN Regeneration Rs. 50 per instance
Return of Deliverables by Courier Because of Negative Reasons Such as Consignee Shifted/No Such Consignee/No Such Address Rs. 50 per instance

HDFC Bank Family Savings Group Account FAQs

Here are the frequently asked questions:

Here is the information:

Charges Cheque Amount
Rs. 25, but for senior citizen account and rural branches it is Rs. 20 Up to Rs. 5,000
Rs. 50, but it is Rs. 40 for senior citizen account and rural branches Rs. 5,001 to Rs. 10,000
Rs. 100 Rs. 10,001 to Rs. 1,00,000
Rs. 150 Rs. 1,00,001 and above
No charges Cheque Amount on Speed Clearing Branches at non-CTS Location
Up to Rs. 1,00,000
Rs. 140 per instrument Rs. 1,00,001 and above

Here are the details:

Charges Cheque Amount
Rs. 25, but for rural branches and account for senior citizens, it is Rs. 20 Up to Rs 5,000
Rs. 50, but for senior citizens account and rural branches, it is Rs. 40 Rs. 5,001 to Rs. 10,000
Rs. 100 Rs. 10,001 to Rs. 1,00,000
Rs. 150 Rs. 1,00,001 and above
No charges Cheque Amount on Speed Clearing Branches at Non-CTS Locations
Up to Rs. 1,00,000
Rs. 140 per instrument Rs. 1,00,001 and above

Here are the details:

Cumulative Cash Transactions (Deposits and Withdrawals)
  • Get 4 free cash transactions every month
  • From the 5th transaction, the charge is Rs. 150 per instance + applicable taxes
Cumulative Value of Transactions with Withdrawals and Deposits Home Branch

Per account, Rs. 2 lakhs are possible for free every month

  • Over this limit per month, it is Rs. 5 per Rs. 1,000 or part thereof
  • This is subjected to a minimum of Rs. 150 + taxes

Non-Home Branch:

No charge for value up to Rs. 25,00 per day

  • Over this limit, it is Rs. 5 per Rs. 1,000 or part thereof
  • This is subjected to a minimum of Rs. 150 + taxes
Rs. 25
  • Rs. 150 + taxes for a limit up to Rs. 25,000 per day
  • Over this limit, the transaction is not allowed

Here is what you must know:

Transaction Charge on Debit/ATM Card
HDFC BANK ATMs Other Bank ATMs
No charges for the first 5 transactions across cities (a) First 3 transactions are free in the top 6 cities
(b) First 5 transactions free in the non-top 6 cities
No charges for the first 5 transactions across cities (a) First 3 transactions are free in the top 6 cities (b) First 5 transactions free in the non-top 6 cities The top 6 cities are New Delhi, Mumbai, Kolkata, Chennai, Hyderabad, and Bengaluru

For other bank ATM transactions, get 5 transactions free in a month. The cap for such transactions in the top 6 cities is 3

Charges for transactions over the free limit are:

  • Rs. 20 + taxes per transaction for cash withdrawal
  • Rs. 8.5 + taxes per non-financial transaction
Transactions at Non-HDFC Bank International ATMs Rs. 125 + taxes per cash withdrawal
Rs. 25 for balance inquiry per instance
The bank will apply a cross-currency mark up of 3.5% on transactions from outside the country done on Debit Cards. The VISA/MasterCard exchange rate will be applicable for transactions.

Here is more information:

Inward NEFT NIL
Outward NEFT (Online Mode) NIL
Outward NEFT at Branch
  • Rs. 2.5 + taxes per transaction for an amount up to Rs. 10,000
  • Rs. 5 + taxes per transaction for amount from Rs. 10,001 to Rs. 1 lakh
  • Rs. 15 + taxes per transaction for an amount over Rs. 1 lakh and up to Rs. 2 lakhs
  • Rs. 25 + taxes per transaction for an amount over Rs. 2 lakhs
Indo Nepal NEFT Transactions
  • Rs. 20 for customers with Nepal State Bank Ltd (NSBL)
  • Rs. 70 for up to Rs. 5,000 for customers with non-NSBL acc.
  • Rs. 95 for over Rs. 5,000 for customers with non-NSBL acc.

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