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Apr 23
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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.

Revision of Interest Rates on HDFC Bank Savings Bank Deposits

Particulars Rate of Interest
Saving Deposits Balance below Rs. 50 lakh. 3.50% p.a
Saving Deposits Balance of Rs. 50 lakh and above. 4.00% p.a

HDFC Bank Savings Account Interest Rates & Minimum Balance Required Updated on 30 Jan 2017

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 RuPay Card
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:

1. SavingsMax Account:

Higher interest can be earned on funds that are lying idle, through the automatic sweep out facility.

2. Regular Savings Account:

This account is created for all your day to day banking requirements.

3. Women’s Savings Account:

This account offers women a complete banking solution and caters to her financial, lifestyle and investment needs.

4. 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.

5. 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.

6. Family Savings Group Account:

This savings account scheme is a complete banking solution for your entire family, with benefits from a single account.

7. Basic Savings Bank Deposit Account:

This is a zero balance savings account with free ATM/debit card, that meets all your banking requirements.

8. Institutional Savings Account:

This Zero balance savings account are made available for Trusts, Societies, Associations, Clubs, NGOs and so on.

9. 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.

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 be a net banking customer of HDFC Bank.

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

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.

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.

Features

  • 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

SmartBuy

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:

  • Credit cards
  • Debit cards
  • Netbanking
  • Prepaid cards

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 a Savings Account by submitting:

  • Identity proof
  • Address proof
  • Latest passport size photographs
  • Self-attested copies and originals for verification

Eligibility

  • 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.

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

Fees and Charges

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

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