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HDFC Bank Savings Account

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.

Revision of Interest Rates on HDFC Bank Savings Bank Deposits

These rates are effective from 11 June 2020

Particulars Rate of Interest
Saving Deposits Balance below Rs. 50 lakh. 3.00% p.a
Saving Deposits Balance of Rs. 50 lakh and above. 3.50% p.a

HDFC Bank Savings Account Interest Rates & Minimum Balance Required Updated on 2020

These rates are effective from 11 June 2020

Types of Savings Account Interest Rate Minimum Balance Required
SavingsMax Account 3.00% p.a. to 3.50% p.a. INR 25,000
Regular Savings Account 3.00% p.a. to 3.50% p.a. Rs. 10,000 (urban branches) Rs. 5,000 (semi-urban branches) Rs.2,500 (Rural Branches)
Womens Savings Account 3.00% p.a. to 3.50% p.a. Rs. 10,000 (Urban branches), Rs. 5,000 (Semi Urban branches)
Kids Advantage Account 3.00% p.a. to 3.50% p.a. INR 5,000
Senior Citizens Account 3.00% p.a. to 3.50% p.a. INR 5,000
Family Savings Group Account 3.00% p.a. to 3.50% p.a. INR 40,000
Basic Savings Bank Deposit Account 3.00% p.a. to 3.50% p.a. Not Required
Institutional Savings Account 3.00% p.a. to 3.50% p.a. Not Required
BSBDA Small Account 3.00% p.a. to 3.50% p.a. Not Required

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.

Security of One View

With One View you will be on a platform using a robust firewall. To transmit information, One View uses a 128-bit Secure Socket Layer (SSL) encryption technology. The platform is designed to automatically time out so that others cannot view your details. You can be assured of the safety of accessing your accounts as you cannot transact, you can only view your account details.

Multiple Account Access

One View is a unique platform offered by HDFC that allows you to view multiple bank accounts held with different banks centrally. The participating banks include:

  • Citibank
  • HSBC India
  • ICICI Bank
  • Standard Chartered

You no long need to log in to every bank account individually to access net banking. You can set up 5 different bank account under One View. You need to only remember one password to access all your accounts along with your HDFC Bank account. That best thing about it is it’s free! However, you need to activate HDFC net banking.

Features of One View

With One View, you can view all your online bank accounts of HDFC Bank, ICICI Bank, Citibank, Standard Chartered Bank and HSBC Bank simultaneously. You can view the following details:

  • Current or Savings account balance
  • Fixed deposit summary
  • Current or Savings account transaction history
  • Citibank Credit Card balance
  • Citibank Credit Card transaction history
  • HDFC Demat profile
  • HDFC Demat holding
  • HDFC Demat status


SmartBuy is a separate platform by HDFC Bank which allows customers to compare prices across different websites and get the best deals on shopping and flights. Some of the brands include Amazon, Flipkart, Snapdeal, Goibibo, Cleartrip, OYO Rooms, eBay, and Booking.com. SmartBuy offers the following services :

  • Flight Bookings
  • Hotel Bookings
  • Mobile Recharges

Customers can also shop on SmartBuy.com by viewing the best prices. Upon selecting the product of their choice, they will be directed to the merchant’s website. Based on your city you can find the best deals and offers on:

  • Electronics
  • Smartphones
  • Food and Dining
  • Travel
  • Beauty and Health

SmartBuy also has special offers for different methods of payment for purchases through SmartBuy. Customers can avail discounts and offers on the following payment modes:

SmartBuy helps customers find the best deals online for the product their are looking for by comparing different prices on different websites. Shop smartly on HDFC Bank’s SmartBuy.

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.

Documentation Required

Open HDFC 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.

Basic Savings Bank Deposit Account (Farmers)

This account is exclusively for farmers to include them in the financial sector by providing a zero balance savings account with no initial deposit requirements. Account holders can benefit from free IVR phone banking. HDFC Bank issues a free international debit card to account holders to facilitate cashless and convenient transactions and cash withdrawals. The account can be operated through net banking, mobile banking, phone banking and branch banking.


  • No initial deposit required to open the account
  • No average monthly balance required
  • There are no charges levied for non-maintenance of the account
  • There are no charges levied for activating a dormant account
  • Free international debit card
  • First cheque book is free
  • Cash deposits can be made free of charge with no limits
  • Cash withdrawals are limited to 4 free per month and subsequently at Rs.50 plus tax per transaction

Who can open a Basic Savings Bank Deposit Account

Only specific individuals can open the BSBDA offered by HDFC Bank:

  • Individuals who are residents of India
  • Individuals must be an agriculturist or farmer having their own agricultural land or must have income from agricultural resources
  • They account can be opened solely or jointly

How to Open a Basic Savings Bank Deposit Account

To open this account, individuals can approach a branch of HDFC Bank and submit the following documents:

  • Photograph
  • ID proof as per the acceptable list of KYC documents
  • Address proof as per the acceptable list of KYC documents
  • Basic Savings Bank Deposit Account customer declaration

Fees and Charges

Savings Account Scheme Standing Instructions Debit Card (annual fee)
Savings Max Account Rs. 25 + remittance fee Free
Regular Savings Account Rs. 25 + remittance fee Rs. 150 + Taxes
Women’s Savings Account Rs. 25 + remittance fee Rs. 150 + Taxes
Kid’s Advantage Account Rs. 25 + remittance fee Free
Senior Citizens Account Rs. 25 + remittance fee Free for lifetime for 1st applicant. Rs.100 + taxes for other applicants.
Family Savings Group Account Rs. 25 + remittance fee Free for all applicants
Basic Savings Bank Deposit Account Rs. 25 + remittance fee Rs.100 + taxes
Institutional Savings Account Rs. 25 + remittance fee N/A
BSBDA Small Account Rs. 25 + remittance fee Rs.100 + taxes

HDFC Bank Savings Account FAQs

  1. 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.

  2. Will my HDFC Savings Account 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.

  3. 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.

  4. 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.

  5. 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, cheque book, etc. remains the same.

  6. 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.

  7. 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.

  8. Are unregistered institutions eligible to open an Institutional Savings Account?

    No. Only registered societies, trusts, clubs, associations, etc. can open an Institutional Savings Account.

  9. 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

  • Penalty for insufficient balance in HDFC Bank savings account

    HDFC Bank requires that customers maintain a minimum balance in their savings account if they are to avoid penalty charges. For urban and metro branches, in order to avoid penalty charges, the average monthly balance (AMB) should be Rs.10,000. In semi-urban branches, the AMB is Rs.5,000. The average quarterly balance (AQB) to be maintained for rural branches is Rs.2,500 in order to avoid paying a penalty. However, customers are exempt from this penalty if they hold a fixed deposit for a term that is a minimum of a year and a day for an amount of Rs.10,000. In the case of insufficient balance for semi-urban, urban, and metro branches, the penalty (excluding taxes) for not maintaining sufficient balance in a regular savings account is in the range of Rs.150 to Rs.600. The charges (excluding taxes) for metro and urban branches for not maintaining an average monthly balance in the range of Rs.7,500 to Rs.10,000 is Rs.150. It is Rs.300 for average monthly balance in the range of Rs.5,000 to Rs.7,500. It is Rs.450 for an average monthly balance in the range of Rs.2,500 to Rs.5,000. It is Rs.600 for an average monthly balance that is less than Rs.2,500. In the semi-urban areas, it is Rs.150 for an AMB of Rs.2,500 to Rs.5,000 and Rs.300 for AMB less than Rs.2,500. In rural branches, the charges are Rs.270 for an AMB between Rs.1,000 to Rs.2,500 and Rs.450 for an AMB less than Rs.1,000.

  • No more charges for not maintaining minimum balance

    All of the banks, both public and private banks expect the customers to maintain a minimum balance in their account. Banks generally charge a small amount if the savings amount goes below a certain limit that has been predefined by the bank. All the banks have set an average monthly balance and an average quarterly balance, based on the location of the customer branch. All the cities in the country have been divided into semi-urban, metro, urban, and rural regions for this purpose. Three banks in the country, ICICI Bank, HDFC Bank, and SBI Bank have penalties in place for customers who do not maintain a minimum balance. There are specific penalties in place based on the region where the customer uses the account from.

  • Guidelines for sensitive user information issued by SBI

    Earlier this month, State Bank of India issued guidelines regarding their customers’ sensitive information. India’s largest bank by asset size, SBI, provide regular updates to their customers with the latest safety steps to ensure secure banking.

    SBI has informed its customers that they would not request sensitive information like Personal Identification Number (PIN), User ID, Password, UPI PIN, CVV, OTP, etc. SBI further added that customers should follow the social media handles of SBI for genuine information. SBI customers are expected to ensure that personal confidential information is kept secret and private. Sensitive information should not be shared over e-mail, phone call, message, or through any other medium due to the chances of online theft increasing.

  • How to Open a Savings Account with HDFC Bank

    In the new era of internet banking, customers do not have to deal with long drawn out procedures to open a bank account. Opening a savings account with HDFC Bank is a simple procedure that does not require much effort. The account can be opened by visiting a bank branch or online through the bank website. Once the required documents are submitted, the customer’s account is activated. The interest rate for an HDFC savings account is 4%p.a.

    HDFC Bank requires its savings account holders to maintain a minimum average monthly balance. The amount differs for urban and metro banks and rural and semi-rural banks. For urban and metro branches, the minimum average balance is Rs.10,000. For rural and semi-rural branches the minimum average balance is Rs.5,000.

  • MAB requirements and fines for HDFC Bank

    Minimum balance requirements for savings accounts are mandated by almost all leading banks today. Customers who fail to maintain the minimum balance, i.e., the monthly average balance (MAB) are levied a penalty. The penalty varies based on several factors such as the branch location and the amount of shortfall of the actual bank balance from the average that is required.

    The average minimum balance mandated by HDFC Bank at various bank branches is as detailed below:

    • Metro branch - Rs.10,000 per month
    • Semi-urban branch - Rs.5,000 per month
    • Urban branch - Rs.10,000 per month
    • Rural branch - Rs.2,500 per quarter
  • HDFC Bank cuts interest rates on deposits in savings accounts

    On thursday, HDFC announced that they will be reducing the interest rates on savings bank accounts by 50 basis points to 3.5 per cent on deposits up to Rs.50 lakh and will continue to pay 4 per cent interest on deposits of above Rs.50 lakh. In a statement, the bank said that post revision, customers maintaining savings bank account balance of Rs.50 lakh and above will continue to earn interest at 4 per cent per annum. Customers maintaining account balance of below Rs.50 lakh will earn interest at 3.5 per cent per annum.

  • HDFC Increases Cash Transaction Fees On Savings Accounts

    HDFC, one of India’s leading private sector banks has recently made an announcement which spells bad news for its users. The bank recently announced that it would be hiking the charges for certain transactions carried out at the bank’s branches. Customers holding saving and salary accounts with HDFC Bank can now only make 4 charge-free transactions / month (including cash deposit and withdrawal) over the counter at HDFC branches. From the 5th transaction onwards, the bank will now be charging a hefty sum of a minimum of Rs. 150 per transaction (Taxes and cess extra). The revised charges will be effective from March 1 onwards. Take for example, a customer makes a withdrawal of Rs. 2 lakh from their account distributed over a total of 4 transactions. In the 5th transaction, they withdraw Rs. 50,000 from the home branch. In this case, for the 5th transaction, the customer will have to pay a fees of Rs. 250.

    From non-HDFC branches, customers will be allowed to withdraw or deposit amounts up to Rs. 25,000 / day without attracting any charge. Deposits above this amount will be charged with the nominal fee of Rs. 5 per thousand or Rs. 150 (Taxes & Cess extra), whichever is higher. Third party cash transactions will only be allowed up to the amount of Rs. 25,000 per day, with a charge of Rs 150 (taxes & cess applicable). No transactions above this limit will be allowed. For account holders who are senior citizens and minors the limit of Rs. 25,000 is applicable but no extra fees will be charged.

  • Cash transaction fees of HDFC Bank savings accounts go up

    Second largest private sector lender, HDFC Bank has decided to bring about a sharp rise in cash transaction fees for HDFC Bank savings account holders. This move has gained more important owing to the government’s post demonetisation decision that has been encouraging people to shift to a cashless or digital-mode for transactions. The bank has also capped the third-party transactions at Rs.25,000 per day as well as reduced the free cash transactions from five to four. The fee towards non-free transactions has gone up by 50% to Rs.150. While, earlier the bank used to allow cash transactions worth Rs.50,000 in a day, for both deposits and withdrawals. HDFC has also put a limit on the free cash transactions at home branches at Rs.2 lakh, above which a minimum fee of Rs.150 or Rs.5 per Rs.1,000 will be charged. According to a bank official the increased charges have been kept at par with the industry trend.

  • 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.

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