• HDFC Bank Premium Salary Account

    For employees across the country, HDFC Bank has rolled out the Premium Salary Account which is a customised salary account that is offered to select corporates. This salary account is a zero-balance account and comes with the benefits of a free Accidental Death Cover up to Rs.15 lakh and an International Air Accident Death Cover up to Rs.1 crore.

    Features and Benefits of HDFC Bank Premium Salary Account

    • As already mentioned, the HDFC Bank Premium Salary Account is a zero-balance account. In other words, there is no requirement for a minimum balance.
    • Customers holding this salary account are eligible for the free Personal Accident Cover of Rs.5 lakh.
    • Customers are also eligible for the Air Accidental Death Cover of Rs.25 lakh.
    • Premium Salary account holders can also opt to open a family account. The family account will be a zero-balance account as well.
    • On opening the account, customers are granted a debit card. The debit card comes with the below listed benefits:
      • Free Personal Accidental Death Cover up to Rs.10 lakh.
      • With the debit card, customers are assured a base Personal Accidental Death Cover either by rail, road, air, etc. They can also opt for the Accelerated Personal Accident Death Cover up to a maximum of Rs.5 lakh.
      • Enhanced cash withdrawal limit of Rs.1 lakh.
      • The daily shopping limit at retail or online merchant establishments is Rs.2.75 lakh.
      • If the customer uses his/her debit card to purchase the air ticket, he/she is eligible to a flat International Air Accident Cover up to Rs.1 crore.
      • For items purchased using the debit card, customers are eligible for a Fire and Burglary Protection up to Rs.2 lakh.
      • They are also eligible for a Checked Baggage Insurance up to Rs.2 lakh.
    • When opening the account, customers are granted 500 Times Points for the first transaction as part of the Times Points debit card program. After the first transaction, customers are granted 2 Times points for every Rs.150 spent. Customers can redeem these points in the form of gifts, travel tickets, movie tickets, discounts, etc. Also, as part of the program, customers can avail a 10% discount on online entertainment, dining, grocery and lifestyle products.
    • Customers can also avail a free add-on International debit card.
    • HDFC Bank Premium Salary account holders can also open a zero-balance Salary Family Account. The benefits of this account are listed below:
      • Enhanced ATM withdrawal limit of Rs.1 lakh per day.
      • Enhanced transaction limit up at online or retail merchant establishments up to Rs.2.75 lakh.
      • Free Times points on opening the account.
      • Free Personal Accidental Death Cover up to Rs.10 lakh.
      • Additional International Death Cover up to Rs.1 crore.
    • Through this salary account, customers can avail a variety of loan products at the best possible interest rates.
    • Customers can bank anywhere in the world using the HDFC Bank Premium Salary account.
    • Account holders can make fund transfers through the NEFT and RTGS facilities.
    • As soon as the customer makes a transaction or withdrawal, he/she will receive an InstaAlert of the transaction details and the balance in the account.
    • The HDFC Bank Premium Salary account comes with the benefits of free monthly account statements, e-mail statements, and passbook facilities.
    • Customers can also avail the benefit of free Demand Drafts at any HDFC Bank branch.
    • This salary account offered by HDFC Bank comes with the convenience of phone banking, mobile banking and net banking facilities.

    Eligibility for HDFC Bank Premium Salary Account Insurance Coverage

    To be eligible for the Free Personal Accidental Death Cover and the Free Air Accidental Death Cover, customers need to meet certain criteria.

    • Eligibility for Air Accidental Death Cover:
      • Should have held the HDFC Bank Premium Salary account and should have received the salary in the month of death or the month prior to the occurrence of death.
      • Death should have occurred as a result of bodily injury.
      • Death should have occurred within a year from the event .
      • The demised customer should have been less than 70 years of age.
      • He/she should have made at least one transaction or purchase within 6 months prior to the occurrence.
      • Should have purchased the air ticket using the HDFC Bank debit card.
      • The cover is only limited to the primary account holder and not his/her nominee[s].
    • Eligibility for Personal Accidental Death Cover
      • Death should have occurred within 12 months from the event .
      • On the day of death, the customer should have been less than 70 years of age.
      • Should have held the HDFC Bank Premium Salary account and should have received the salary in the month of death or the month prior to the occurrence of death.
      • Should have made at least one transaction or purchase within 6 months prior to the occurrence.
      • Death should have occurred as a result of bodily injury.
      • This insurance cover is limited to the primary account holder and not his/her nominee[s].
      • In case of death resulting from an air accident, the primary account holder should have purchased the air ticket using the HDFC Bank debit card.

    Documents Required for HDFC Bank Premium Salary Account

    The candidate should submit the following Government approved KYC documents, when submitting the account opening form.

    • Address Proof - Passport, Rent Agreement, any government approved document containing the address, Driver’s license, etc.
    • Identity proof - Passport, PAN card, Voter’s ID, Driver’s license.

    HDFC Bank Premium Salary Account Fees and Charges

    Listed below are the fees and charges for the HDFC Bank Premium Salary account:

    Particulars Charges
    Visa Money Transfer Rs.5 (plus GST as applicable) per transaction
    Unarranged overdraft Rs.100 per transaction + 18% Interest p.a
    TIN Regeneration (requests received at the branch for physical dispatch) Rs.50 per instance
    Third party Cash transaction (Cumulative of Deposit and Withdrawal) Up to a limit of Rs.25,000 per day - Rs.150/- (plus GST as applicable) Above Rs.25,000/- not allowed
    TDS Certificate Free
    Stop Payment Charges Particular cheque Rs.100 Range of cheques Rs.200/- Free through NetBanking
    Standing Instructions Setting up charges - Free Rs.25 per transaction plus remittance charge
    Signature Attestation Free
    RTGS - Outward Above Rs.2 lakhs to Rs.5 Lakhs - Rs. 25 (plus GST as applicable) per transaction Above Rs.5 Lakhs - Rs.50 (plus GST as applicable) per transaction
    RTGS - Inward Free
    PIN regeneration charge Rs.50 (plus GST as applicable)
    Photo Attestation Rs.100 per instance NIL (For Senior Citizens)
    Phone banking Free
    Passbook issuance Free
    PAP Cheque book usage charges Nil
    PAP Cheque book Free first 25 cheque leaves per half year (Financial year) Additional chequebook of 25 leaves will be charged at Rs.75 per chequebook
    Old records/copy of paid cheques Up to 1 year - Rs.50 per record Above 1 year - Rs.100 per record
    Number of Cash transactions(Both of Deposit and Withdrawal) 4 free cash transactions per month 5th transaction onwards - Rs.150 per transaction (plus GST as applicable) would be levied
    Netbanking Free
    NEFT Charges- outward Up to Rs.10,000 - Rs.2.5 (Plus GST as applicable) per transaction Amounts from Rs.10,001 to Rs.1 lakh - Rs.5 (Plus GST as applicable) per transaction Amounts above Rs.1 lakh up to Rs.2 lakh - Rs.15 (Plus GST as applicable) per transaction Amounts above Rs.2 lakh – Rs.25 (Plus GST as applicable) per transaction
    NEFT Charges for Indo Nepal transactions Customers having NSBL*Account - Rs.20 Customers having non-NSBL* Account: Upto Rs 5,000 - Rs.70 Above Rs 5,000 - Rs.95 * Nepal State Bank Ltd
    NEFT Charges - Inward Free
    Mobilebanking Free
    Minimum Balance (Average Monthly Balance) Zero
    Managers Cheques / Demand Drafts at HDFC Bank branches Free upto Rs.25,000 Above Rs.25,000 Rs.5 per 1000 - subject to a min. of Rs.75 and max. Rs. 10,000) Via Netbanking: Upto Rs. 10 Lakh - Rs.50+ Bank charges Third party DD upto Rs. 1,00,0000 - Rs .50+ Bank charges
    Local Cheque deposited for outstation accounts Free
    Issue of duplicate At the HDFC Branch - Rs 100 Via Phone Banking - Rs.75 NetBanking, Mobile Banking, Phone Banking - IVR & ATM - Rs.50
    IPIN Regeneration (requests received at the branch for physical dispatch) Rs.100/- per instance
    Interest Certificate Rs.50
    InstaPay Rs.10
    IMPS (Immediate Payment Service) – Outward Amount up to Rs.1 lakh - Rs.5 (Plus GST as applicable) per transaction Amount above Rs. 1 lakh up to Rs.2 lakhs - Rs.15 (Plus GST as applicable) per transaction
    IMPS (Immediate Payment Service) - Inward Free
    Hold Statement Rs.400 per year
    ECS / ACH (Debit) Return Charges Rs.350 in a quarter Rs.750 would be levied from second instance onwards in the same quarter.
    Duplicate passbook issuance Rs.100
    Demand Drafts- Issued - On Non HDFC Bank Locations Upto Rs.500 - Rs.10 Above Rs.500 to Rs.1000 - Rs.15 Above Rs.1000 to Rs.5000 - Rs.25 Above Rs. 5000 to Rs.10,000 - Rs.30 Above Rs.10,000 - Rs.5 per Rs.1,000
    Decline charge for insufficient balance Rs. 25 per transaction (Plus GST as applicable)
    Debit Card transaction charge - at Non HDFC Bank International ATMs Rs.25 per balance enquiry and Rs. 125 per cash withdrawal (plus taxes as applicable)
    Debit Card - Replacement Charges/Re issuance charges At HDFC Bank ATMs - First 5 transactions free across all Cities At non-HDFC Bank branches - In Top 6 cities: First 3 transactions free Non Top 6 cities : First 5 transactions free Transactions over and above free limit will be charges as under: Cash withdrawal - Rs.20 plus GST as applicable per transaction Non-Financial Transaction - Rs.8.5 plus taxes as applicable per transaction
    Debit Card - Renewal Fee - Women's Card Free
    Debit Card - Renewal Fee - Titanium Royale Free
    Debit Card - Renewal Fee - Titanium Free
    Debit Card - Renewal Fee - Times Points Free
    Debit Card - Renewal Fee - Regular/Rewards Free
    Debit Card - Renewal Fee - Gold/Platinum Rs.750 per year (Plus GST as applicable)
    Debit Card - Annual Fee - Women's Card Free
    Debit Card - Annual Fee - Titanium Royale Free
    Debit Card - Annual Fee - Titanium Free
    Debit Card - Annual Fee - Times Points Free
    Debit Card - Annual Fee - Regular / Rewards Free
    Debit Card - Annual Fee - Gold / Platinum Rs.750 per year (plus taxes as applicable)
    Collection of outstation cheques at HDFC Bank locations Up to Rs .5,000 - Rs. 25, Rs. 20 for rural branches Rs.5,001 to Rs.10,000 - Rs.50, Rs.40 for rural branches Rs.10,001 to Rs.1,00,000 - Rs.100 Rs.1,00,001 and above - Rs.150/-
    Collection of outstation cheques - other locations Up to Rs.5,000 - Rs.25, Rs.20 for rural branches Rs.5,001 to Rs.10,000 - Rs.50, Rs.40 for rural branches Rs.10,001 to Rs.1,00,000 - Rs.100 Rs.1,00,001 and above - Rs.150
    Cheques deposited returned unpaid Rs.100 per instance
    Cheque/Demand Drafts - Cancellation / Revalidation Rs.100
    Cheque return charges drawn on us - Local Due to Insufficient funds - First cheque return in a quarter - Rs 350 From second cheque return in the same quarter - Rs.750 per return Charges due to funds transfer cheque return - Rs.350 Due to Technical reasons - Rs.50 per instance
    Cheque Collection - Local Clearing Zone Free
    Charges for non-maintenance of account None
    Branch transactions (Includes only Cheque deposit/Cheque issuance/Funds Transfer Debit/NEFT/RTGS) No charges would be levied if the average monthly balance (AMB) is equal or above Rs.50,000. -In case the AMB is below Rs.50,000/- 15 free transactions would be permitted per month. From then on, Rs.75 will be charged for every transaction.
    BillPay Free
    Balance Enquiry - at Branch Free
    Balance Certificate Current year - Free Previous year - Rs.50
    ATM Card - Replacement charges Rs.200 (plus GST as applicable)
    ATM Card Free
    Any Deliverable returned by courier due to negative reasons (no such consignee/ consignee shifted and no such address) Rs 50- per instance
    Address Confirmation Rs 50 per instance
    Add-on Debit Card - Women's Card Free
    Add-on Debit Card - Titanium Royale Rs.400 per year (plus GST as applicable)
    Add-on Debit Card - Titanium Rs.250 per year (plus GST as applicable)
    Add-on Debit Card - Times Points Rs.650 per year (plus GST as applicable)
    Add-on Debit Card - Rewards 500 per year (plus GST as applicable)
    Add-on Debit Card - Regular Free
    Add-on Debit Card - Gold Card / Platinum Rs.750 per year (plus GST as applicable)
    Account Closure (from account opening date) Upto 14 days - No Charge 15 days upto 12 months - Rs.500 After 12 months - No Charge

    HDFC Bank Premium Salary Account FAQs

    1. Is it possible to continue using this account if I have changed employers?

      Yes, all you need to do is take a letter from your employer to your local HDFC Bank. The letter should contain your name, account number, date of joining and basically a confirmation that you are now a member of the organisation.

    2. Can I open this account if I am unemployed?

      No, that would not be possible.

    3. What documents should I submit when applying for this account? Is my employment ID enough?

      No, you would need to submit a government approved identification as your employee ID will not be entertained.

    4. I wish to change my address, how can I do it and how long will it take?

      You can change your address via your net banking account or at your local HDFC Bank branch. You will need to submit a government approved document stating clearly your new address. Once you have submitted your new address, it will take 7 days to be updated.

    5. Is it possible to stop a cheque payment? How can I do it?

      You can stop a cheque payment via your net banking account. Follow the steps mentioned below:

      • Firstly, login to your NetBanking account
      • Next, click on the "Request" menu on the left hand side of the web page
      • Now, click on the "Stop Payment of Cheque" option available
      • Select the Account Number - incase you have more than one account
      • Enter first/Start cheque number to the last/End cheque number, and state a reason for stopping the payment.
      • Click on "Continue".
      • Click on "Confirm" tab to confirm the stop payment request after verifying the request.
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