HDFC BankHDFC 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.

Other features:

  • 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.

Other Banks Savings Accounts

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