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HDFC Family Savings Group Account

Premium banking solutions for the entire family consisting of spouse, father, mother, son, daughter, brother, sister, grandparent or grandchild, offered under the convenience of a group account.

Highlights of HDFC Family Savings Group Account

Bank HDFC Bank
Category HDFC Family Savings Group Account
Minimum Balance Requirement The total Average Monthly Balance (AMB) in all accounts should be Rs. 40,000
Interest Rate 4% per annum
Debit Card EasyShop International Debit Card
Eligibility Criteria
  • Members of the family having individual HDFC Bank account.
  • 2 individual accounts or up to 4 individual accounts, can be grouped together under the single Family Savings Group (FSG).
  • Non-Resident (NR) accounts can also be consolidated in this Group.
  • Current accounts, HUF accounts and Savings Max accounts cannot be grouped under the FSG account.
  • The Primary account holder’s Customer ID will be the Group ID.
  • A minor cannot be the Primary account holder of the Group.

Features of HDFC Family Savings Group Account

Cash withdrawal Up to 5 free cash withdrawals permitted at ATMs of other banks.
Bill payment Free of charge
Sweep-in Sweep-in from one savings account to another savings account is enabled.
Sweep-in from NRO account is not permitted.
DD/MCs Free DD/MCs of up to Rs.50,000 per account can be taken in all HDFC branches every month.
PAP chequebook Issued free of charge
E-mail statements / passbook facility Offered free of charge to all individual account holders.

Special Benefits of HDFC Family Savings Group Account

Locker 50% off on renting lockers, calculated on a pro-rata basis and applicable for the first year of allotment.
Online Trading Account
  • Preferential account opening charge of only Rs.799.
  • Free add-on Trading Account for Spouse.
  • Trade volume of up to 1 lakh offered free of charge for primary as well as add-on account holder, which is valid for 3 months from the date of opening the account.

Fees and Charges On HDFC Family Savings Group Account

Average Monthly Balance (AMB) Rs.40,000/-
Non-maintenance Charges Up to Rs.600/-
Cheque Book Free. Rs.75/- charged for additional cheque book.
Issue of ad hoc statements
  • At Bank Branches - Rs 100/-
  • Through ( Non IVR) Phone Banking – Rs.75/-
  • Net Banking, Phone Banking, Mobile Banking - IVR & ATM - Rs 50/-
Cheques deposited returned unpaid Rs.100/-
Balance Certificate Previous year - Rs. 50, Current year - Free of charge
Photo Attestation Rs.100/-
Records/copy of paid cheques For a maximum period of 1 year - Rs. 50 is charged per record
For records of paid cheques for a period above 1 year - Rs. 100 per record
Replacement of ATM/Debit card Rs.200
PIN regeneration charge Rs.50

GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.

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