HDFC Bank Savings Account

HDFC Bank Savings Account Details
Minimum Account Balance
  • Ranges from Rs. 5,000 to Rs. 10,000 for urban and metro branches.
  • Ranges from NIL to Rs 2,500 for rural and semi-urban branches.
  • Facility of zero balance account is available.
HDFC Savings Account Interest Rate
  • Annual balance up to Rs. 50 lakhs – 3.50%.
  • Annual balance over Rs. 50 lakhs – 4.00%
Facilities
  • Passbook, chequebook, internet banking, phone banking, mobile banking.
  • Systematic Investment Plan, safe deposit locker, and debit card, e-statement.
  • Insurance, discounts/offers on online portal SmartBuy, and a lot more.
Debit Card
  • Regular Card
  • Rewards Card
  • RuPay Premium
  • EasyShop Titanium
  • EasyShop Titanium Royale
  • EasyShop International Card
  • EasyShop Women’s Advantage
  • EasyShop Platinum

HDFC Bank Savings Account is offered to resident individuals, minors over 10 years of age, women, salaried employees, farmers, senior citizens, youth between 18 years and 25 years, government bodies, companies, and several others. There are specialized Savings Account (SA) for different sections of the society and income group. The maximum interest rate offered is 4% on the account, depending on the account balance for a year. Below, we will discuss about types of HDFC Savings Accounts, its benefits, schemes, offers on debit cards, charges and fees on ATM/Debit Card transactions, and other fees/charges.

Types of HDFC Bank Savings Account

Below-mentioned are the different types of HDFC savings account.

1. Regular Savings Account

This SA is to meet all the banking needs. You can save, invest, pay, shop on this HDFC Bank account. You can enjoy exclusive offers and discounts on the online shopping portal of the bank. Also, you will get the facility of a Safe Deposit Locket and Super Saver deals. The annual maintenance charge for the first year will be waived on your first Demat account. You will receive amazing offers on the RuPay Platinum Debit Card (rural and semi-urban locations) and Millennia Debit Card (urban/metro locations).

Features

  • To open this account you should be a resident individual (joint account or self-owned), foreign national with terms and conditions applied, minor above 10 years old, or Hindu Undivided Family.
  • Get the facilities such as phone banking, internet banking, and mobile banking to keep a track of account balance, stop cheque payments, pay the utility bills, and a lot more.
  • You can set instructions for payments online or over the phone.
  • Get personalized cheques. Each cheque leaf will contain your name in print.
  • Get free Passbook and email statement.

Minimum Balance Requirement

  • You have to make an initial deposit of Rs. 2,500 for a Regular Savings Account (rural branches), Rs. 5,000 for semi-urban branches, and for urban branches Rs. 10,000.
  • It is necessary to maintain the minimum AMB of Rs. 5,000 in semi-urban branches and Rs. 10,000 in urban branches, and a Fixed Deposit of Rs. 10,000 of 1 year 1 day tenure minimum (rural branches) or Average quarterly balance of Rs. 5,000.
  • In case the requirement for average balance is not maintained, the following charges will apply.
  • The penal charges are Rs. 150 for AMB Rs. 7,500 to Rs. 10,000, Rs. 300 for AMB Rs. 5,000 to Rs. 7,500 (none for semi-urban/rural branches), Rs. 450 for AMB Rs. 2,500 to Rs. 5,000 (Rs. 150 for semi-urban/rural branches). Rs. 600 for AMB up to Rs. 2,500 (Rs. 300 for semi-urban/rural branches).
  • For non maintenance of average monthly balance between Rs. 1,000 and Rs. 2,500 charges are Rs. 270 and Rs. 450 if the average balance is less than Rs. 1,000.
  • Replacement charge is Rs. 200 for the debit card.

2. Basic Savings Bank Deposit Account

This Basic Savings Bank Deposit (BSBD) Account comes with super saver facilities and Safe Deposit locker. It is a zero-balance savings account for banking needs. Some of the other facilities include free email statements, cash deposits at branches and STMs, lifetime BillPay, 25 cheque-leaves every financial year, passbook for individual account holders, access to account with a free RuPay Card and a lot more. Through SMS you can stop cheque payments.

Eligibility Criteria

  • Hindu Undivided Families
  • Resident individuals (joint or sole account)
  • Minors above 10 years of age for self-operated account
  • Account holders should not have any other HDFC Bank savings account
  • Account holders must not already have a BSBD account with any other bank

Features

  • No initial payment is required.
  • No average monthly balance has to be maintained.
  • The savings account allows you to pay utility bills and cheque the balance.
  • You can easy phone banking, mobile banking, net banking, etc.
  • Get 4 withdrawals for free in a month. This includes NEFT/RTGS at the branch or online, cash withdrawals at ATMs or branch, EMI, IMPS, Fund transfers, Clearing, Standing Instructions, Internet debits, POS transactions, and more.
  • If in a month, the withdrawals exceed the prescribed limit through any mode, then additional charges may apply.

3. Basic Savings Bank Deposit Small Account

The Basic Savings Bank Deposit (BSBDA) Small account has no minimum balance requirement. Thus, you will not have to pay any charges on zero balance. You will receive a free RuPay Debit Card. You will also get free InstaQuery facility, email statements, lifetime BillPay, and access to account with the debit card, passbook for all individual account holders, free cheque and cash deposits at all the ATMs and branches. You can make up to 4 free withdrawals every month. This will comprise of Clearing, balance cash transfer or withdrawal, ATM/NEFT/RTGS, Standing Instructions, internet debits, EMI, etc.

Eligibility Criteria

  • You are a resident individual but do not have all the required valid KYC documents (address proof and photo identity proof as acceptable by the bank).
  • You do not have an existing banking relationship with the HDFC Bank.

KYC Monitoring

  • Within 12 months of the account’s opening, you need to submit evidence at the bank that you have applied for the valid KYC.
  • After this, the bank will extend the operation of the Small Savings Account for another 12 months.
  • You have to submit the actual KYC as per the bank’s requirement within 24 months of the account opening.

Balance Requirements

  • The total credits in your account at any point of time must not go over Rs. 1 lakh.
  • If the aggregate credits exceed Rs. 1 lakh in a financial year, then you can undertake any credit transactions thereafter till the end of that FY.
  • The total account balance at any point of time must not exceed Rs. 50,000.
  • If the total balance in the account goes over Rs. 50,000, then you cannot undertake anymore credit transactions till the balance goes under Rs. 50,000.
  • The total transfers and withdrawals on the account in a month should not go over Rs. 10,000.
  • If the transfers and withdrawals go over Rs. 10,000 in a month, then you cannot make further debit transactions for that calendar month.

4. Savings Max Account

As the name suggests, this savings account (SA) helps you save maximum up to Rs. 12,500. Earn high interest by opting for automatic sweep out facility for surplus funds transferred to a fixed deposit account. If at any time your SA is low on funds, then the FD will be dissolved to meet the savings account balance requirement. For the first year, no maintenance charges apply for the Demat account. You get a free Platinum Debit Card that provides up to 1% cashback.

Eligibility Criteria

The eligible candidates to open the SA account are resident individuals, minor above 10 years of age, HUFs, and foreign nationals residing in India who state their credit sources and residence permit. Resident individuals can open the account in their own name, or apply jointly.

Minimum Balance Requirement

The AMB (Average Monthly Balance) should be Rs. 25,000 or more. Or, you can also maintain a Fixed Deposit at the branch location. Failure of one of these conditions may attract transaction charges. The bank will notify you about the low AMB through an email/letter/SMS. If the balance is not restored a month of receiving the notice, then penal charges as following will apply:

  • AMB between Rs. 20,001 and Rs, 24,999 = Rs. 300 penalty
  • AMB up to Rs. 20,000 = Rs. 600 penalty or 6% of maximum shortfall, whichever is lower.

Debit Card Facilities

  • The Platinum Debit Card comes with daily withdrawal limit and shopping limit as Rs. 1 lakh and Rs. 5 lakhs, respectively.
  • The total insurance cover under this account is up to Rs. 1.29 crore.
  • Feature of unlimited free ATM transactions is available on HDFC and non-HDFC bank ATMs.
  • For the account holder, the bank provides a free lifetime International/Woman’s Advantage debit card.

Below, we have discussed about this Savings Max Account in detail:

Features

  • Accidental death insurance cover is worth Rs. 10 lakhs. The accidental hospital cover on the other hand is of Rs. 1 lakh. The cover is restricted to deaths from vehicular (air, road, and rail).
  • You receive Rs. 1,000 per day as Daily Cash Allowance for hospitalization up to 15 days. This facility is only available for the primary account holder.
  • To process the claims, you should make at least 1 POS (Point of Sales) purchase on the Debit Card within 3 months before the incident of accident.
  • Sum insurance for the Death Cover by Rail/Air/Road is up to Rs. 10 lakhs on the Platinum Debit Card. To avail the free Personal Death Insurance cover, the debit card should have been active at online or retail store once in every 30 days.
  • If you use the Debit Card for an air ticket purchase, then you will receive Rs. 1 crore worth International Air Coverage.
  • Sum assured for loss of checked baggage is Rs. 20,000. For this facility, you should have made at least one transaction on the Debit card in the 3 months before the particular event date.
  • Sum assured for fire and burglary of items bought through the debit card (up to 90 days) is Rs. 2 lakhs.

Big Savings up to Rs. 12,500 in a Year

  • Save up to Rs. 1,500 and Rs 1,000 per year on the free Personal Accidental Death Cover on the SA and Personal Accidental Hospitalization cover.
  • Save up to Rs. 1,500 per year for the free Personal Accidental Death Cover on the Platinum Debit Card.
  • Save up to Rs. 500 per year on the free Air Accident Cover.
  • Save up to Rs. 750 and Rs. 500 per year for the free Platinum Debit Card for the primary holder and the secondary holder @Rs. 250, respectively.
  • Save Rs. 850 per year on up to 1% cashback on the Debit Card purchases, for monthly spend of Rs. 7,500.
  • Avail 20% waiver on the Trading account at Rs. 1,999 Plan and save up to Rs. 400 per year.
  • Save Rs. 3,000 per year with 50% off on Locker rent in the first year of the account’s opening.
  • Save up to Rs. 2,500 per year on 2 free Airport Lounge Accesses per quarter.

Ease of Transaction

  • Easy banking with Phone Banking, Mobile Banking, and Net Banking to check account balance, stop cheque payment through SMS, pay utility bills, etc.
  • Free Demand Drafts up to Rs. 1 lakh per day.
  • Free Passbook at the home branch, email statements, lifetime InstaAlerts and BillPay.

Discounts and Offers

  • 50% discount is available on locker rental. This is calculated on a pro-rata basis in the first year.
  • Get 50% discount on processing fee and save Rs. 2,375 when you apply for a Two Wheeler Loan.
  • If you apply for an Auto Loan, you can get up to 90% finance as per the vehicle’s on-road price. Tenure is up to 7 years.
  • 50% discount on Gift Plus Card if you load at least Rs. 5,000 on it through net banking or at the branch.
  • 50% discount is offered in the issuance charges if you load at least USD 2,000 or equivalent to your Forex Plus Card.

5. DigiSave Youth Account

This account is for youthful individuals who are between 18 years and 25 years. The eligible applicants should be resident Indians. Special product offers are available such as loans, cards, digital banking, offers on movies, recharges, travel, food, and a lot more. Exclusive discounts and offers on SMARTBUY, HDFC Bank’s online shopping portal. Get special activation offer on PayZapp on first transaction of Rs. 250 or more. Earn 5% cashback every month on Bill Payment up to Rs. 100 on setting Standing Instructions on the Debit Card.

Avail Millennia Debit Card free for the first year. Get Rs. 3.5 lakhs as domestic shopping limit at online store and merchant outlet. Per day cash withdrawal limit is Rs. 50,000. If you maintain the required balance in the account and remain active digitally every month, then you will get Rs. 250 off on movies. Get benefitted with total insurance cover up to Rs. 1.14 crore. Avail accidental insurance cover up to Rs. 10 lakhs. Get Rs. 1 core as International Air Coverage on purchase of air ticket on the debit card.

Features

  • Per year, get 4 complimentary domestic airport lounge access.
  • No liability towards on Debit Card for fraudulent transactions taken place 30 days before the reporting of card loss. Maximum protection is of Rs. 4 lakhs. This protection is valid only on Point of Sale.
  • You can transfer funds online through RTGS/NEFT/UPI online. Split bills with friends with Mobile Banking App such as BHIM.
  • Book a cab or pay bills on the HDFC Bank OnChat. You have to open the Facebook Messenger and find the ‘HDFC Bank OnChat’ and then drop a ‘Hi’.
  • Avail special offers on Forex Card offerings and education loans. Get special pricing and rates on the education loan.
  • For the Forex Card, get waiver on the issuance fee within 90 days. Get discounts on food, shopping, books, accommodation, and travel across all the partners of the HDFC Bank in India and abroad.
  • You and your family/friends can recharge mobile phone by giving a missed call on 7308080808
  • On the Debit Card get Rs. 4,800 cashback every year. 1% cashback on wallet reloads and offline spends, 2.5% cashback on online spends, and 5% cashback for shopping on SmartBuy and PayZapp.
  • Access Systematic Investment Plan through your Investment Services account linked to the DigiSave Account. Invest small or big starting from Rs. 1,000.

Minimum Balance Requirement

  • You have to make minimum Rs. 5,000 as initial deposit if living in urban or metro area. The minimum limit for rural and semi-urban branches is Rs. 2,500.
  • If the required minimum average balance is not maintained, then charges as following, will apply.
  • For metro and urban branches, AMB between Rs. 2,500 and Rs. 4,999 attracts Rs. 150 as penalty. No charges apply in this case or semi-urban and rural branches.
  • For metro and urban branches, AMB up to Rs. 2,500 attracts Rs. 300 as penalty. For semi-urban and rural branches, the penalty in this case is Rs. 150.

6. Women’s Savings Account

This SA is specially designed for female customers who want to access banking and investment services to fulfil their lifestyle needs. Benefits such as loans, free insurance cover, preferential pricing, cashbacks and offers on shopping, are available. You can make big savings on this account. Get facility of automatic Sweep Out for surplus funds. Free lifetime BillPay and folio maintenance charges for the first year on the Demat account.

Eligibility Criteria

  • Resident individuals (single or joint account).
  • The primary account holder should be a female.
  • Foreign national living in India for more than 180 days with valid documents.

Features

  • Free email statements, passbook, and payable-at-par 25 cheque-leaves for multi-city (half yearly).
  • Accidental Hospitalization cover of Rs. 1 lakh and Accident Death cover of Rs. 10 lakhs are available.
  • Unarranged Overdraft at Rs. 100 and 18% interest rate.
  • Per day cash allowance for each day of hospitalization is Rs. 1,000 for up to 10 days in a year.
  • 1 POS purchase on debit card at a merchant establishment in 3 months before the accident date is necessary by the primary holder for the claims to be accepted and processed.

Minimum Balance Requirement

  • The minimum initial deposit should be Rs. 2,500 for rural branches, Rs. 5,000 for semi-urban and rural branches and Rs. 10,000 for urban and metro branches.
  • The minimum AMB should be Rs. 5,000 for semi-urban and rural branches and Rs. 10,000 for urban and metro branches.
  • If the average balance requirement is not maintained then following charges will apply.
  • The penal charges are Rs. 150 for AMB Rs. 7,500 to Rs. 10,000, Rs. 300 for AMB Rs. 5,000 to Rs. 7,500 (none for semi-urban/rural branches), Rs. 450 for AMB Rs. 2,500 to Rs. 5,000 (Rs. 150 for semi-urban/rural branches). Rs. 600 for AMB up to Rs. 2,500 (Rs. 300 for semi-urban/rural branches).

Discounts and Offers

  • AMC (Annual Maintenance Charge) is waived on the Demat Account for the first year.
  • 7 years tenure Auto Loan with up to 90% finance on the vehicle’s on-road price. 2% lower interest rate on a Two Wheeler Loan with processing fee slashed by 50%.
  • 50% discount on Gift Plus Card if you load at least Rs. 5,000 on it through net banking or branch.
  • Exclusive shopping benefits on select brands.
  • Earn cashback up to Re. 1 for each spending of Rs. 200 on EasyShop Woman’s Advantage Debit Card.
  • Rs. 25,000 as daily cash withdrawal limit. Rs. 1.75 lakhs as daily shopping limit.

Great Banking Experience with the Debit Card

  • On purchase of air tickets with debit card, Rs. 25 lakhs as International Air Coverage.
  • Personal Accident Death (death by air, road, rail) cover of Rs. 5 lakhs.
  • Rs. 2 lakhs sum assured for loss of checked baggage. For reimbursement, you should have made at least one purchase with the Debit Card in 3 months before the incident’s date.
  • Rs. 2 lakhs sum assured for Fire and Burglary of items purchased on the debit card (up to 90 days).

7. Kids Advantage Account

This savings account is for minors. It comes with great offers, Debit/ATM card, insurance, and a lot more. To be eligible for this account, the kid should already have an account at the HDFC account. The age limit is below 18 years old. The initial deposit is as low as Rs. 1,000 is a month. The SA has SIP (Systematic Investment Plan) facility so that the account holder can invest small amounts on monthly or weekly basis in Mutual funds through the bank’s online Investment Services account. Facility of automatic sweep-out to an FD is available. The child can earn higher interest on surplus fund.

Features

  • Free education insurance of worth Rs. 1 lakh cover is available in case of the death of guardian or parent in air/road/rail accident.
  • Through Standing Instructions, parent or guardian can set up regular transfer to the minor’s account.
  • Per day, the account holder can spend Rs. 10,000 at sores and withdraw Rs. 2,500 at ATMs.
  • One can make limited free cash withdrawals at ATMs of other banks.
  • The minor can transfer funds online to any bank account in the country with free RTGS/NEFT online.
  • The account holder can access phone banking, mobile banking besides net banking.
  • One can use free BillPay facility and get offers on BillPay through Debit Card SI, Chillr, and PayZapp.
  • Free electronic statements and instant alerts through email and SMS.
  • The kid will also get exciting offers on GiftPlus Card, Forex, and shop on SMARTBUY.

8. Senior Citizens Account

This SA is designed for senior citizens of India. The account has several benefits for banking, hospitalization insurance, discounts, offers to meet your healthcare and daily requirements. Enjoy free insurance deals, free passbook, and fund transfer online across the country with free RTGS/NEFT online, and higher fixed deposit rates to grow your money. The average monthly balance requirement is as low as Rs. 5,000. Also, get a Lifetime free Debit Card with exclusive offers.

Eligibility Criteria

  • An Indian citizen (joint or sole).
  • Age requirement 60 years old and above.
  • The primary applicant should be a senior citizen for joint accounts

Features

  • No TDS deduction for fixed deposit interest up to Rs. 50,000.
  • Great offers on shopping and higher shopping limits.
  • Preferential pricing on loans. Instant disbursals on pre-approved loans.
  • Doorstep banking services such as instrument pickup, cash pickup, delivery of cash, etc.
  • Access to Super Premium Credit Cards.
  • The total coverage under insurance products is more than Rs. 38 lakhs. All this is available for the primary account holder without payment of any premium.
  • Phone banking, mobile banking, and internet banking.
  • Manage your international and domestic limits on the Debit Card.

Insurance Benefits

  • Get Rs. 5 lakhs accidental death cover and Rs. 50,000 accidental hospitalization cover.
  • Rs. 25 lakhs Death cover on international air.
  • Rs. 500 per day cash allowance for hospitalization up to 15 days per annum for every day you have to be hospitalized because of the accident. Account claims will be processed quickly if you make at least 1 POS purchase on your Debit Card in 3 months before the event of accident.
  • Sum assured for Fire and Burglary of items you buy under the Debit Card up to 90 days is Rs. 2 lakhs.
  • Rs. 25 lakhs coverage for International Air if you purchase the air ticket with the HDFC debit card.
  • Sum assured is Rs. 20,000 for any claims under loss of checked baggage.
  • Up to Rs. 5 lakhs sum insured for Death cover by rail/road/air. This facility is on your Rewards Debit Card. The death cover will activate if you keep your Debit Card active at online or retail store at least once in every 30 days.

Debit Card Offers

  • Daily shopping limit is Rs. 2.75 lakhs. Daily limit for cash withdrawal is Rs. 50,000.
  • For the primary account holder, the bank will provide a free Rewards International Debit Card.
  • Enjoy the exhaustive Rewards Point Programme.
  • Get discounts at different merchants such as the Apollo Pharmacy. Also, get 20% off on all the Apollo branded products.
  • Take benefit of up to Rs. 2000 Reward Points every month. Save 5% on everyday spends at partner merchants.
  • If you are a woman who is new to HDFC Bank and the first applicant, then you shall be eligible for Woman’s Advantage Debit Card as well. This card has attractive discounts and offers, available free-of-cost.
  • Earn Reward Points when you shop with big brands in fuel, online and pharmacy, grocery, railways, etc. Some of the brands to lookout for are Snapdeal (online shopping), Big Bazaar (grocery), BPCL (fuel, at HDFC Bank terminals), IRCTC (railway), PayZapp – One App, One Click, All Payments, Smart Buy (online)

Fees and Charges

Below-listed are the charges and fees applicable.

  • Non-maintenance of AMB charges are Rs. 150 for average balance Rs. 2,500 to Rs. 5000. Rs. 300 is the penalty for average balance up to Rs. 2,500.
  • Issuance of physical duplicate/adhoc statement charges are Rs. 50 at branch, Rs. 50 for phone banking (non-IVR), and Rs. 30 for net banking, mobile banking, and phone banking (IVR).
  • No charges for Third party Cash transaction (Cumulative of Deposit and Withdrawal).

9. Savings Farmers Account

This is a customized savings account only for farmers. The minimum deposit required is Rs. 2,500. Also, Rs. 2,500 should be the minimum average half-yearly balance. You get a free personal accidental death cover up on RuPay Platinum Debit Card. The card should be active at an offline or online retail store once in every 30 days to maintain the free personal death insurance cover. This cover is up to Rs. 10 lakhs. Sum assured of Rs. 2 lakh is available for Fire and Burglary for the items bought under the Debit Card (up to 90 days). Rs. 20,000 is the sum assured for the loss of checked baggage.

Eligibility Criteria

  • You are a resident India. You can then open this account singly or jointly.
  • You are from a Hindu Undivided Family or with a farmer’s profile.
  • You should not have a previous banking relationship with the HDFC Bank.
  • You should own agricultural land or draw income from agricultural resources.

NOTE: Savings Farmers Account is only available at selected branches. Check with the bank to know more.

Features

  • Get 5% cashback on payment of utility bills. The maximum cashback per month in this case is Rs. 50.
  • Receive free passbook if you are an individual account holder.
  • Access phone banking, mobile banking, and net banking to check balance, stop cheque payment via SMS, and pay utility bills.
  • Get preferential pricing on loans and pre-offered offers and fee access to Super Premium Credit Card.
  • Transfer funds online to any bank account in India through RTGS/NEFT online.
  • Lounge access available on RuPay Premium Debit Card.
  • Enjoy shopping benefits on SMARTBUY for select brands.
  • No folio maintenance charges for the first year on Demat account.

Fees and Charges

  • Charges on not maintaining the half-yearly balance is Rs. 540 and Rs. 900 if the said balance requirement is between Rs. 1,000 and Rs. 2,500 and less than Rs. 1000, respectively.

10. Institutional Savings Account

This SA is designed for NGOs and institutes for easy payment and collection facilities. Facility of free outstation cheque collection is available in India at HDFC bank locations. Through Enet (corporate payment software), you can make online payments such as vendor payments, salary payments, etc. For collection of fees, donations, and more, you can use the vast branch network. The bank’s Cash Management Services team will take care of the collections. There is no usage charge of chequebook.

Features

  • You can access free and unlimited Demand Drafts (DDs) at HDFC Bank locations.
  • Link your account with the bank’s online modes such as POS terminals, Payment Gateway, Payment Kiosk, etc to manage collection of donations, fees, and more.
  • Avail free monthly account statements. You can also opt to get the statement on the email weekly or daily as well.
  • Get access to phone banking, net banking, and mobile banking to pay utility bills, stop cheque payments through SMS, and check your account balance.

Eligibility Criteria

  • The Institutional Savings Account can be opened by the following:
  • Khadi and Village Industries Boards
  • Institutions other than those mentioned in clause (i). These institutions should have a lower or entire income exempted from Income Tax payment as under the Income-Tax Act, 1961.
  • Development of Women and Children in Rural Areas (DWCRA)
  • HDFC Bank financed Primary Cooperative Credit Society
  • Agriculture Produce Market Committees
  • Farmers’ Clubs – Vikas Volunteer Vahini – VVV
  • Companies governed by the Companies Act, 1956. Under Section 25 of the given Act, these companies should have been licensed by the Central Government. These could be also licensed under a corresponding provision in the Indian Companies Act, 1913, but not allowed to add ‘Private Limited’ and ‘Limited’ after the organization name.
  • Registered or unregistered Self-help Groups (SHGs). These should participate in motivating savings habits among their own members.
  • Government bodies/agencies/departments in respect to subsidies or grants released for various programmes and their implementation. Or schemes sponsored by the State/Central government on authorisation from the respective department of the State/Central government to open SA.
  • Societies registered under the Societies Registration Act, 1860. The Societies could also be registered under a corresponding law in force at a Union Territory or State, but not under the State Cooperative Societies Acts as well as specific state enactment that creates Land Mortgage Banks.

Who Cannot Open this HDFC Bank Account?

According to the RBI guidelines, those who cannot open this savings account, include:

  • According to the RBI guidelines, those who cannot open this savings account, include:
  • State/ District Level Housing Co-operative Societies
  • Societies/Metropolitan Development Authority
  • State Housing Boards
  • Water and Sewerage and Drainage Boards
  • Municipal Corporations or Municipal Committees
  • Panchayat Samitis
  • Any political party or any trading/business with a concern for an association, company, or proprietary or a partnership firm
  • Government bodies/departments depending upon allocation of a budget for performance of their roles and functions

NOTE: Entities not eligible to open a Savings Account can instead opt for the Institutional Current Account.

Fees and Charges

  • There are no charges for maintenance of minimum balance or average monthly balance.
  • Rs. 400 per year for Hold Statement.
  • No fee for the cancellation or revalidation of the Managers Cheque/Demand Drafts.
  • For DDs issues at non-HDFC bank locations, the charges are Rs. 10 for DD up to Rs. 500, Rs. 15 for DD between Rs. 501 and Rs. 1000, Rs. 25 for DD between Rs. 1,001 and Rs. 5,000, Rs. 30 for DD between Rs. 5,001 and Rs. 10,000, and for DD above Rs. 1 lakh the fee is Rs. 6 per Rs. 1,000 or part thereof (maximum Rs. 10,000 and minimum Rs. 300).
  • For ECS/ACH (Debit), the return charges on the first and second instance in the same quarter are Rs. 350 and Rs. 750, respectively.
  • No fees for cheques drawn on Speed clearing branches.
  • Rs. 200 per instance of Standing Instructions rejections.
  • Collection of outstation cheques at local clearing zone and bank location is free-of-cost.
  • For the collection of outstation cheques at other locations the charges are Rs, 25, Rs, 100, and Rs. 150 for an amount up to Rs. 10,000, Rs. 10,001 to Rs.1 lakh, and more than Rs. 1 lakh, respectively.
  • There is no annual fee on either of Business or Regular Debit Card. Daily ATM limit on the Business Debit card is Rs. 50,000 and that for Regular card is Rs. 25,000.
  • Daily Merchant Establishment Point of Sale Limit for Regular Debit Card is Rs. 40,000 and that for the Business card is Rs. 75,000.
  • For Forex Transactions HDFC will charge 3.5% on the foreign currency carried out on the card. This is the cross-currency mark-up.

11. Government Scheme Beneficiary Savings Account

This is a zero balance account with premium features. Resident individuals can open this SA solely or jointly. Also minors over 10 years of age are eligible to operate the minor account individually. Earn 5% cashback on payment of utility bills. Also receive Rs. 50 per month on RuPay Premium Debit Card. You get a higher cash transaction limit per month of Rs. 10 lakhs. Get free email statement and passbook. Take advantage of discounts and offers on the online shopping portal of SMARTBUY.

Features

  • Annual maintenance charge is waived for the first year on your first Demat Account.
  • Get 2 complimentary lounge programs per quarter on domestic and international lounge with the RuPay Premium Debit Card.
  • Enjoy Super Saver Facilities available on the account as well as Safe Deposit Lockers.
  • Avail zero liability insurance cover up to Rs. 4 lakhs and 24/7 concierge service.
  • Access net banking, mobile banking, phone banking to pay utility bills, check account balance, stop cheque payments, etc.
  • Get personalized cheques. Each cheque leaf will come with your name printed on it.
  • The bank provides dedicated Relationship Program Manager under each banking program.
  • Receive permanent disability cover/personal accidental death cover up to Rs. 2 lakhs on the RuPay Platinum card if you have been active at least once on the POS in the last 30 days.

HDFC Bank Debit Cards and Associated Fees

These below-given charges are excluding the applicable taxes. Card replacement/reissuance fee is Rs. 200 + taxes. All the Debit Cards are Lifetime Free for the primacy account holder. Charges apply for the secondary account holder.

Type of Debit Card Secondary Account Holder (Issuance Fee) Secondary Account Holder (Annual/Renewal Fee)
Regular Card Rs. 150 Rs. 150
RuPay Premium Rs. 200 Rs. 200
EasyShop International Card Rs. 150 Rs. 150
EasyShop Titanium Rs. 250 Rs. 250
EasyShop Women’s Advantage Rs. 200 Rs. 200
Rewards Card Rs. 500 Rs. 500
EasyShop Titanium Royale Rs. 400 Rs. 400
EasyShop Platinum Rs. 750 Rs. 750

HDFC ATM/Debit Card Transaction Charges

Below-mentioned are charges for transactions done on ATM/Debit Cards by HDFC Bank.

Debit Card Charges Details
ATM/Debit Card Transaction
  • At HDFC Bank ATM – First 5 financial transactions are free per month in every city. No charges for non-financial transactions.
  • In other banks’ ATMs – First 3 financial and non-financial transaction free per month at top 6 cities (Mumbai, Chennai, New Delhi, Kolkata, Hyderabad, Bangalore)
Transactions Over the Free Limit
  • Rs. 20 + taxes per transaction (cash withdrawal)
  • Rs. 8.5 + taxes per transaction at other bank ATMs (non-financial transaction)
PIN Regeneration Rs. 50
ATM / Debit Card Transactions Unlimited free transactions on HDFC as well as non HDFC Bank ATMs or maximum up to 4 withdrawals at home branch for free
Transactions declined at merchant outlets outside India or other bank ATMs anywhere in the world because of insufficient funds Rs. 25 per transaction
Debit Card Transaction at Non-HDFC Bank international ATMs
  • Rs. 125 per cash withdrawal and Rs. 25 per balance enquiry
  • NOTE: Cross-currency mark-up 3.5% on debit card transactions in foreign currency. The Bank will use the VISA/MasterCard exchange rate at the time of transaction.
BillPay, InstaAlert, Add-on Regular Debit Card and Women’s Debit Card, NEFT Charges (Inward), NEFT charges - outward (Online Mode), RTGS - Outward (Online Mode), RTGS – Inward, IMPS – Inward, Net Banking, Mobile Banking, No charges applicable
Visa Money Transfer Per transaction Rs. 5
InstaPay Per transaction Rs. 10
NEFT- outward (Branch) Rs. 2 per transaction of an amount up to Rs. 2 lakh. Rs. 10 per transaction for amount above Rs. 1 lakh.
NEFT Transaction for Indo-Nepal
  • Rs. 20 for those with account in Nepal State Bank Ltd. (NSBL)
  • For those having non-NSBL account, Rs. 70 for transaction up to Rs. 5,000 and Rs. 95 for transaction above Rs. 5,000
Immediate Payment Service (IMPS) – Outward Rs. 5 per transaction of Rs. 1 to Rs. 1 lakh. Rs. 15 per transaction of Rs. 1,00,000 to Rs. 2,00,000
RTGS – Outward (Branch) Rs. 15 per transaction of Rs. 2 lakhs and above
Request Received at the Branch for the Physical Dispatch of TIN Regeneration Per instance Rs. 50
When courier returns a deliverable given negative reasons such as non-existent address, consignee shifted, no such consignee, etc Per instance Rs. 50
Request Received at the Branch for the Physical Dispatch of IPIN Regeneration Per instance Rs. 100
Physical or Online One time Mandate Authorisation Per instance Rs. 100
SI Rejects Per instance Rs. 200

HDFC Bank Savings Account Fees and Charges

Below-provided are details about charges and fees for different types of HDFC Savings Account.

Applicable Charges Savings Max Account
Minimum Balance Required AMB of at least Rs. 25,000 or FD relationship of Rs. 1 lakh (rural and semi-urban location) or Rs. 1.50 lakhs (urban and metro location)
Chequebook 25 cheque-leaves available as free per financial year, thereafter Rs. 75 per chequebook of 25 leaves
Issue of Duplicate/Adhoc Statements
  • No charges for the softcopy of eStatement sent on the registered email address and last 5 years statement via net banking
  • Physical copy of the above costs Rs. 100 at branch, Rs. 75 through Non IVR Phone Banking, Rs. 50 through Mobile Banking, ATM, Net Banking, and IVR Phone Banking
  • For senior citizens, charges for the above in the same order are Rs. 50, Rs. 50, and Rs. 30
Issuance of a Duplicate Passbook Rs 100
Managers DDs/Cheques (issuance/re-issuance) at HDFC Bank Locations Through Branch
  • Up to Rs. 1 lakh DD amount accepted for Imperia/Preferred. For other customers, Rs. 50,000 is accepted at Phone Banking
  • Free up to Rs. 1 lakh. Above this amount, Rs. 5 per 1,000. The minimum charge is Rs. 75 and maximum Rs. 10,000

Through Net Banking
  • Up to Rs. 1 lakh the charge is Rs. 50 + core bank charges. The charge is the same for third party Demand Draft up to Rs. 1 lakh
Cancellation/Revalidation of Managers DD/Cheque
  • Rs. 100
  • No charges for an amount up to Rs.1, 000
DDs issues at Non-HDFC Bank Locations Rs. 10 for up to Rs. 500. Rs. 15 for Rs. 501 to Rs. 1,000. Rs. 25 for Rs. 1,001 to Rs. 5,000. Rs. 30 for Rs. 5,001 to Rs. 10,000. Rs. 5 per 1,000 or part thereof for Rs. 10,001 and above (Max. Rs. 10,000 and Min. Rs. 75)
Collection of Outstation Cheques at HDFC Bank Locations and Other Locations Cheques Drawn at Branch locations
  • Rs. 25 (Rs. 20 for senior citizens/rural branches) for cheques up to Rs 5,000
  • Rs. 50 (Rs. 40 for senior citizens account/rural branches) for cheques up to Rs. 5,001 – Rs. 10,000
  • Rs. 100 and Rs. 150 for cheques up to Rs. 10,001 – Rs. 1 lakh and Rs. 1,00,001 and above, respectively
Cheques drawn on Speed Clearing Branches - at non CTS locations
  • No charges for cheques up to Rs. 1 lakh. Rs 140 per instrument for an amount of Rs. 1,00,001 and above
Cheque Return Charges Drawn on HDFC Bank
  • Rs. 500 per returned cheque given insufficient balance
  • Rs. 350 due to fund transfer cheque return
  • Rs. 50 per instance for cheque return due to technical reasons (e.g. sign mismatch, post dated, no date mentioned, etc)
Unpaid or Returned Deposited Cheque Rs. 200 per instance
Balance Certificate Rs. 50 for previous year, no charges for the current year
Interest Certificate Rs. 50
Account Closure from the Account Opening Date No charges for up to 14 days. Rs. 500 (Rs. 300 for senior citizens) for 15 days to 12 months. No charges beyond 12 months.
Photo Attestation Rs 100 per instance, no charges for senior citizens
Confirmation of Address Rs 50 per instance
Stop Payment Rs. 100 for the particular cheque and Rs. 200 for range of cheques. No charges for both when done through Net Banking
Standing instructions Rs. 25 per transaction + remittance charge
Copy of Paid Cheques or Old Records Rs. 50 for records up to a year and Rs. 100 per record for period above a year
Branch Transactions (Only Funds Transfer via NEFT/Debut/RTGS and Cheque Issuance/Deposit
  • No charges if the AMB in account for previous month was Rs. 50,000 or above.
  • For AMB below Rs. 50,000. 15 txn free per month. Rs. 75 per txn from the 16th transaction.
Number of Cash Transactions (Including Withdrawal and Deposit) Per month 5 free cash transactions. Rs. 150 per transaction from the 6th transaction
Value of Cash Transactions (Including Withdrawal and Deposit) Home Branch
  • No charges for amount up to Rs. 1 lakhs. Thereof, Rs. 5 per Rs. 1,000 subject to minimum charges Rs. 150.
Non-Home Branch:
  • No charges for per day cash transactions up to Rs. 25,000. Thereof, Rs. 5 per Rs. 1,000 subject to minimum charges Rs. 150.
Third party Cash Transaction (Including Withdrawal and Deposit) Rs. 150 for up to Rs. 25,000 per day. Transaction above this amount is not allowed in a day. No charges for the same apply for minor account and senior citizen customers
Non IVR Phone Banking On non-maintenance of minimum balance for transactions for calls available on IVR but done via Phone Banking, the charge is Rs. 50 per call.