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HDFC Bank is one of the leading bankers in India, sought after by millions of customers for their innovative products and smart banking solutions for every day transactions. They have been redefining the banking landscape in the country with their wide network of branches, easily accessible ATMs (close to 12,000) and more than 2.4 lakh merchants (Point-Of-Sale) accepting their credit and debit cards. Products to suit every customer and every need have made them the banker of choice for everyone.
About HDFC Bank Savings Account
A savings account is the most basic form of deposit account, that is held with a bank or NBFC, which allows a customer to deposit money and earn some interest on it.
A savings account, being easy to open and operate, provides the customer a safe way to store their hard earned money while earning a nominal return for the deposits. There are various kinds of savings account catering to the needs of every customer.
However, savings accounts are not a usual choice for investment purposes since the interest rates are the least profitable compared to other short-term investments. Customers looking for better yields prefer an FD account given the higher rate of interest and quicker liquidity during times of need.
HDFC Bank offers end-to-end savings account products to meet the needs of every user. Their personal banking solutions offer smart and innovative features and benefits that help you to make the most of your savings bank account. Given here is an overview of the various features and benefits
24x7 access to your savings account through various platforms – NetBanking, MobileBanking, wide network of branches and ATMs all over the country
Exclusive accounts to simplify banking for Senior Citizens, Women, Youth and Kids
Accounts to meet the needs of Families, Private Institutions and Government scheme beneficiaries
Free Debit cum ATM card
Netbanking, Mobile banking and SMS banking to enable ease of transactions
Rewards for online shopping and usage of debit cards at POS (Point Of Sale)
Women’s Savings Account
Regular Savings Account
Family Savings Group Account
Senior Citizens Account
DigiSave Youth Account
Kids Advantage Account
Government/Institutional Savings Account
Basic Savings Bank Deposit Account (BSBDA Account)
Government Scheme Beneficiary Savings Account
BSBDA Small Account
HDFC Bank charges various fees and charges on savings bank accounts for maintenance. One needs to maintain a minimum balance in their account every month, though this varies from bank to bank. Also, the interest rate on your deposits, cash deposits, cheque clearance charges, number of withdrawals allowed per month, all varies from bank to bank.
The minimum balance varies with different savings account. Check with the bank for the latest fees and charges.
Rs. 10000 for Metro & Urban branches
Rs. 5000 for Semi-urban & Rural branches
Rs. 2500 for Rural branches
Rs. 5000 for Metro & Urban branches
Rs. 2500 for Semi-urban & Rural branches
HDFC Bank offers an interest of 3.5% for balance below Rs. 50 Lakhs and 4% for balance above Rs. 50 lakhs. This interest rate changes periodically based on market guidelines and customers should check with the bank before opening an account
HDFC Bank charges different fees and charges to operate and transact on your savings bank accounts. Some of the charges are listed below
Simply walk into the nearest branch of HDFC Bank and talk to a customer service representative. Having the following KYC documents handy can speed up the process:
Alternatively you can fill in the necessary details on the website and a bank representative will visit you to collect the documents. In 48hrs you will have your cheque book and debit card delivered to you.
1. What is the best interest rate that I can get on my savings account?
The current interest rate offered for balances below Rs.50 lakh is 3.5% and 4% for above 50 lakh. For the latest interest rates, it is advisable to contact the nearest branch.
2. What is the eligibility for the Senior Citizen savings account?
All resident individuals above the age of 60 years are eligible to open a Senior Citizen account. In case of a joint account, the age of the first applicant is taken in to account. A minimum deposit of Rs. 5000 is required to open this account.
3. How frequently is the interest credited for my savings account balance?
Interest earned on your savings account balance is credited to your account on a quarterly basis.
4. Can I change my account from one savings account type to another?
Yes, you can upgrade your savings account type based on your needs. Please contact our nearest branch and the customer service executive will assist you with the same.
5. How can I change/add my email ID on my account?
You can update your email ID on the account by logging on to your account on Internet banking or by raising a request via Phone Banking.
6. How do I transfer my account from one branch to another?
Since all branches of the bank are connected via core banking, you can operate your account from any part of the country without any hassle. However, if you would still like to transfer your account from one branch to another, you can submit a duly filled transfer form, signed by all the account holders, at your nearest branch.
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