HDFC Bank is one of the country’s leading private sector banks. In the past 2 and a half decades, the bank has broadened the scope of its business to become a name that is well reputed in the banking industry. The bank offers its customers a wide range of products and services that have won the bank several awards.
One of the many products that HDFC Bank offers its customers is the current account. The current account is a type of bank account where the limits for the number of withdrawals and deposits are set much higher than a regular savings account. This type of account is often used by businessmen and retail merchants who make a number of such transactions each day. These transactions are often carried out in significantly larger sums of money.
HDFC Bank has a number of current accounts that it offers its customers. Each of these accounts has been developed to meet the financial requirements of a particular type of customer. The HDFC Ascent Current Account is one of the many current accounts that the bank offers.
Features and benefits
The following are the features and benefits of the HDFC Ascent Current Account:
- One of the key features of the HDFC Ascent Current Account is that it has multiplier benefits for all of its transactions.
- Account holders have the benefit of making free cash deposits at any of the bank’s branches across the country up to 10 times the average minimum balance of their account for the given month.
- Cash withdrawals made from the customer’s non-banking branch can be carried out free of charge up to 10 times the average minimum balance of their account for that month.
- HDFC Bank provides its Ascent Current Account holders 100 free cheque leaves for every lakh of the balance in their account.
- The bank permits free collection and payments through its NEFT and RTGS services.
- The bank provides its internet banking, mobile banking, and SMS banking facilities free of charge.
- Account holders receive a free debit card at the time of opening their account.
- Customers who onboard themselves on the bank’s digital platforms have the maintenance charges for their account waived for the first 2 quarters after their account has been opened.
- The average quarterly balance to be maintained in the Ascent Current Account differs based on the location of the bank. Accounts opened in Urban and metropolitan cities are required to maintain a quarterly average balance of Rs.50,000. Accounts opened in rural and semi urban branches are required to maintain an average quarterly balance of Rs.25,000.
To be eligible to open a Ascent Current Account with HDFC Bank, the applicant must fall under one of the following categories:
- Resident individuals
- Public companies
- Private companies
- Sole proprietorships
- Hindu Undivided Family (HUF)
HDFC Bank has one of the largest customer base as a result of the quality of service it provides and the diverse range of products that it offers. The Ascent Current Account is no exception to the standards that the bank has set in the financial industry. HDFC Banks’ Ascent Current Account has an added benefit of getting automatically upgraded as the customer’s business grows and evolves.
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