HDFC Basic Savings Bank Deposit Account (BSBDA) small account is a no-frills, zero balance savings account that comes with a free RuPay ATM card that allows you to transact from your account from anywhere in India. The account also provides with you features such as free passbook, free cheque deposits, free cash deposits, free e-mail statements, free BillPay facility, and free InstaQuery facility.
Highlights of HDFC BSBDA Small Account
|Category||BSBDA Small Account|
|Minimum Balance Requirement||Nil|
|Debit Card||Free RuPay Card to access accounts|
HDFC BSBDA Small Account Eligibility and Documentation
- The applicant must be a resident individual
- You can also apply if you do not have KYC documents.
Documentation/ KYC Monitoring|
- You must submit a proof of application for a valid KYC document within 12 months of opening the account.
- Within 24 months of account opening, you must submit the actual KYC documentation – photograph, ID proof and proof of address
Features of HDFC BSBDA Small Account
|Cash Withdrawal at ATM||Up to 4 free cash withdrawals including ATM, NEFT, RTGS, transfer, bank cash withdrawal, clearing, EMI, internet debits, and standing instructions. |
|Passbook facility||Free for all account holders|
|Cheque and Cash deposits at branches and ATMs||Free|
|Initial Deposit Amount||Nil|
Fees and Charges of HDFC BSBDA Small Account
|Minimum Average Monthly Balance||Nil|
|Issuance of Duplicate Passbook||Rs.100|
|Stop Payment Charges||Particular cheque: Rs.100Range of cheques: Rs.200|
|ATM/Debit card transaction charges||First 5 transactions free across HDFC and other bank ATMs. After that, cash withdrawals will incur a charge of Rs.20 and non-financial transactions will incur a charge of Rs.8.5|
|PIN regeneration charge||Rs.50|
|Mobile Banking and Net Banking||Free|
If you are looking to open a basic savings account in which you do not wish to save more than Rs.50,000, you can choose HDFC’s BSBDA.
GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.