HDFC offers a wide range of savings account schemes which have unique features and privileges, that can be availed in a quick and convenient manner. The savings account provides world class banking facilities and services. Customers can compare and choose the account that best suits their needs and a personal Relationship Manager assists customers through every step of the way.
HDFC Bank Savings Account Interest Rates & Minimum Balance Required Updated on 08 Dec 2016
|Savings Account||Interest Rate||Minimum Balance Required||Debit Car Issued|
|SavingsMax Account||4.00%||INR 25,000||Titanium Royale Debit Card|
|Regular Savings Account||4.00%||Rs. 10,000 (urban branches)
Rs. 5,000 (semi-urban branches)
Rs.2,500 (Rural Branches)
|International Debit Card|
|Women's Savings Account||4.00%||Rs. 10,000 (Urban branches),
Rs. 5,000 (Semi Urban branches)
|EasyShop Woman’s Advantage Debit Card|
|Kids Advantage Account||4.00%||INR 5,000||ATM/International Debit Car|
|Senior Citizens Account||4.00%||INR 5,000||EasyShop International Debit Card|
|Family Savings Group Account||4.00%||INR 40,000||EasyShop International Debit Card|
|Basic Savings Bank Deposit Account||4.00%||Not Required||
|Institutional Savings Account||4.00%||Not Required||Business Debit Card|
|BSBDA Small Account||4.00%||Not Required||RuPay Card|
The Savings bank account is always available to the customers with facilities such as Mobile Banking, Phone Banking and Net Banking. Convenience to access funds have been raised with the presence of over 11,000 ATMs. The savings accounts range from regular savings account to premium saving options that enables substantial savings.
Types of HDFC Savings Accounts
A savings account is a zero balance account opened as an operative account for fixed deposits/investments, for day to day personal transactions, remittances to India, or for salary and payments, standing orders and direct debits/savings. HDFC Bank offers the following Savings Account Schemes:
- SavingsMax Account:
Higher interest can be earned on funds that are lying idle, through the automatic sweep out facility.
- Regular Savings Account:
This account is created for all your day to day banking requirements.
- Women’s Savings Account:
This account offers women a complete banking solution and caters to her financial, lifestyle and investment needs.
- Kid’s Advantage Account:
This account scheme aims to develop money management skills in kids and is a great method to accumulate savings for your child.
- Senior Citizens Account:
This savings scheme is solely for the convenience of senior citizens and comes with the benefits in relation to health, investment, and other day to day banking solutions.
- Family Savings Group Account:
This savings account scheme is a complete banking solution for your entire family, with benefits from a single account.
- Basic Savings Bank Deposit Account:
This is a zero balance savings account with free ATM/debit card, that meets all your banking requirements.
- Institutional Savings Account:
This Zero balance savings account are made available for Trusts, Societies, Associations, Clubs, NGOs and so on.
- BSBDA Small Account:
This is a zero balance savings account that comes with a free ATM card, that gives access HDFC’s large ATM network across India and helps to meet all your banking requirements.
Features and Benefit Of HDFC Savings Account
- The HDFC Savings account scheme offers various options to meet the requirements of different customers in an unique manner.
- It offers a complete banking solution that allows the customer and his/her family to benefit from one single account.
- With just one savings account customers can enjoy everything from health, investment, etc. to everyday banking solutions.
- Widest ATM networks across the country to meet all your banking needs.
- Free Net Banking, Mobile Banking and Phone Banking.
- Email account statements are sent out on a monthly basis.
- "Money Maximizer" (sweep-out) facility is provided on some savings accounts so that surplus funds can be put into high earning fixed deposit at the threshold of Rs. 1,25,000.
Open a Savings Account by submitting:
- Identity proof
- Address proof
- Latest passport size photographs
- Self-attested copies and originals for verification
- Account can be opened by an individual singly or jointly, minors of the age of 10 years and above, minors under natural/legal guardianship.
- Resident individuals (sole or joint account)
- Hindu undivided families
- Foreign nationals residing in India - If you are a foreign national residing in India, you may open a Savings Account by attaching an QA 22 form stating sources of credit and a copy of your residence permit.
HDFC Savings Account Interest Rates
Interest on a Savings Account is paid at 4.00% p.a. on a daily end of day balance. Interest earned on your Savings Account balance shall be credited to your account on a half yearly basis in the months of September and March.
Minimum Balance Required With HDFC Bank Savings Account
|Savings Account Scheme||Minimum Balance Requirement|
|Savings Max Account||Rs. 25,000|
|Regular Savings Account||Rs. 10,000 (Metro / Urban branches) Rs. 5, 000 (Semi-Urban) Rs.2,500 (Rural)|
|Women’s Savings Account||Rs. 10,000 (Metro / Urban branches) Rs. 5,000 (Semi-Urban / Rural branches)|
|Kid’s Advantage Account||Rs. 5,000/-|
|Senior Citizens Account||Rs. 5,000/-|
|Family Savings Group Account||Combined Average Monthly Balance (AMB) in all accounts grouped should be Rs. 40,000|
|Basic Savings Bank Deposit Account||N/A|
|Institutional Savings Account||N/A|
|BSBDA Small Account||N/A|
|Savings Account Scheme||Standing Instructions||Passbook issuance||Debit Card (annual fee)|
|Savings Max Account||Rs. 25 + remittance fee||Free||Free|
|Regular Savings Account||Rs. 25 + remittance fee||Free||Rs. 150 + Taxes|
|Women’s Savings Account||Rs. 25 + remittance fee||Free||Rs. 150 + Taxes|
|Kid’s Advantage Account||Rs. 25 + remittance fee||Free||Free|
|Senior Citizens Account||Rs. 25 + remittance fee||Free||
Free for life time for 1st applicant.
Rs.100 + taxes for other applicants.
|Family Savings Group Account||Rs. 25 + remittance fee||Free||Free for all applicants|
|Basic Savings Bank Deposit Account||Rs. 25 + remittance fee||Free||Rs.100 + taxes|
|Institutional Savings Account||Rs. 25 + remittance fee||N/A||N/A|
|BSBDA Small Account||Rs. 25 + remittance fee||Free||Rs.100 + taxes|
HDFC Bank Savings Account FAQs
How much interest can I earn from my HDFC Bank Savings Account?
Current interest rate offered on funds in a Savings Account is 4.00% per annum. Interest will be credited to a customer’s savings account on a half yearly basis. For any updates on the interest rates offered, kindly contact one of HDFC Bank’s branches.
Will my HDFC Savings Acount be deactivated if it is not used for a long period of time?
The account is categorized as a dormant account if the customer does not initiate transactions through the account for two years or more. If the account becomes 'Dormant', then transactions like Net Banking, ATM, Phone Banking, etc. are not permitted by the Bank.
Is it possible to activate my HDFC 'Dormant' Savings Account?
Yes. All you have to do in visit a branch of HDFC Bank and submit a written request for the activation of your account. You will have to provide proof of identity and residence as well. Once you initiate a transaction from your account, it will become activated.
How can I add a nominee to my savings account in HDFC Bank?
In order to add a nominee to his/her savings account, a customer has to get an application form from one of the Bank’s branches or download it from the official website, and submit the duly filled application form at your nearest HDFC branch.
Can I transfer my Savings Account to another branch of HDFC Bank?
Yes. But in order to do so you have to submit an account transfer form, which is signed by all applicants. Your account number, debit card, chequebook, etc. remains the same.
What is the maximum duration for which the Standing Instruction is valid, for a Kid’s Advantage Savings Account?
Standing Instruction is a mandatory requirement while opening a Kid’s Advantage Account, and this is valid for a minimum tenure of 1 year. In case you feel the necessity of continuing the same, all you need to do is place a request at the nearest HDFC Bank branch.
Does the HDFC Institutional Savings Account come with a debit card?
Yes. Authorised signatories of the Institutional Savings Account are eligible for a Business Debit Card.
Are unregistered institutions eligible to open an Institutional Savings Account?
No. Only registered societies, trusts, clubs, associations, etc. can open an Institutional Savings Account.
Are foreign currency deposits accepted through Institutional Savings Accounts?
No. Institutional Savings Accounts can be used only for domestic transactions and not for foreign contribution. A separate FCRA account has to be opened for receiving foreign contribution.
News about HDFC Bank Savings Account
HDFC Bank launches banking for Apple Watch
HDFC Bank became the first bank in India to offer watch banking services when it launched its application for the Apple Watch in the first week of July 2015. HDFC plans to provide the same service on all wearable devices on platforms like Android and iOS. The Apple Watch application can be activated from the HDFC mobile banking app. Customers don’t have to download a separate app, but need to upgrade their mobile banking app.
The app will work through Bluetooth on iPhone 5 and above. Customers will be able to make about 10 types of transactions. This includes savings account information, fixed and current deposits, credit cards, request for statements and cheque books, and mobile and DTH recharge. Apart from that, customers will also be able to locate ATMs and bank branches nearby, avail discount offers, view messages from the bank, and block lost debit cards.
9th July 2015