HDFC Bank SavingsMax Account
HDFC SavingsMax Account is a premium account with enormous benefits and better saving facilities. The HDFC bank offers these advantages to the customers who are willing to keep a minimum balance of Rs 25,000 in the account. Interest rates earned on the savings is 4% per annum. A titanium royal debit card if offered to the account holders of HDFC SavingsMax Account.
Let us find out who is eligible for opening HDFC SavingsMax Account
Any individual resident of India can avail this account solely or as a joint account.
The Hindu undivided families can also apply
Further, the foreign nationals who reside in India can apply for the same.
Services offered with HDFC SavingsMax Account
Auto Sweep Facility, Sweep-in Facility, Net Banking, Standing Instructions, and mobile banking are some of the primary facilities associated with HDFC SavingsMax Account.
The account holder gets 4 free cash withdrawals after which he is charged Rs.100 per transaction.
The cheque book facility is offered at Rs 5 per leaf.
One can avail an international debit card at the cost of Rs 100 per annum.
The cash and cheque facilities, as well as the passbook facilities, are free of cost.
Features of HDFC SavingsMax Account
It has a MoneyMaximiser feature that lets the holder earn higher interest rates with an automatic sweep out facility.
The Sweep-in Facility allows converting fixed deposits to the savings account to meet the shortage of funds.
The online trading account offers 50% discount on the account opening charges.
The account holders benefit with loan discounts on auto, personal as well as business loans.
The cash withdrawal limit is Rs 75,000 daily.
Shipping limit for each account holds to Rs 1.75 lakh every day.
Benefits of HDFC SavingsMax Account
One has benefits to Accidental hospitalisation cover of Rs 1 lakh per annum
He is entitled to Accidental Death Insurance Cover of Rs 10 lakh per annum
One has access to preferential Online Trading Accounts with Rs 499 as opening charges
Auto loan discount can be availed at 0.25% discount on interest rate
The forex plus card is offered at 50% discount.
Fee Applicable on HDFC SavingsMax Account
• Minimum balance of Rs 25000 is mandatory to be held in the account.
The charges of non-maintenance of minimum balance are categorised in slabs. Rs 20000 to Rs 25,000 costs Rs 300, Rs 5000 to Rs 20,000 is charged 6% on the maximum amount or Rs 600 whichever is lower.
Additional cheque book costs Rs 75
Hold statement charges are Rs 400 each year
The cheque return charges are Rs 350 on first cheque return due to insufficient balance and Rs 750 from there on. In the case of cheque return due to non-technical reasons such as a post-dated sign, date not mentioned, or sign mismatch, a charge of Rs 50 is applicable.
Interest certificate, address confirmation, TIN generation costs Rs 50 each.
TDS certificate is issued free.
In the case of ATM card replacement, a fee of Rs 200 is applicable.
ATM or debit card transaction charges are free on any number of operations be it through HDFC ATM or non-HDFC ATM.
The nomination is available as an account holder can add, modify or delete a nominee.