HDFC Saving Account

Last Updated 19th Mar 2019

HDFC Bank Savings Account Interest Rate India Mar 2019

HDFC Bank Regular Savings Account
Interest Rate Upto Rs. 50 Lakh : 3.50%
Above Rs. 50 Lakh : 4.00%
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Minimum Account Balance Rs. 10,000 for metro urban branches Rs. 5,000 For Semi urban branches Rs. 2,500 for Rural branches is required to open a Savings Regular Account
Debit Card Select from a range of International Debit cards
  • Use Net Banking, BillPay, Phone Banking and Mobile Banking for all your banking need
  • Exclusive discounts and offers through bank's online shopping portal smartbuy.hdfcbank.com

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HDFC Online Saving Account

HDFC Bank was incorporated in August 1994. Their only focus is on product quality and service excellence which has helped them garner the appreciation of both national and international organizations.

Saving Account in HDFC – Benefits

You get the following benefits while opening Savings Account with HDFC

Nomination facility Yes
Passbook facility Yes
Chequebook facility Yes
Issuance of Debit Card Yes
Internet Banking Yes
Mobile Banking Yes
Fund Transfer Yes
DD Pay Orders Yes

HDFC Saving Account – charges

Balance non maintenance charges : Rs. 150 to Rs. 600

HDFC Savings Account

HDFC Bank offers an interest rate of 3.50% - 4.00% p.a. HDFC Bank also offer accounts to meet the specific requirements of salaried, women, kids and senior citizens.

Product Name Minimum Age Minimum Balance Required
Savings Max Account 18 years Rs. 25,000
Regular Savings Account 18 years Rs. 10,000 for metro urban branches Rs. 5,000 For Semi urban branches Rs. 2,500 for Rural branches is required to open a Savings Regular Account
Women's Savings Account 18 years Rs. 10,000 Metro Urban branches,Rs. 5,000 Semi Urban Rural branches
Kids Advantage Account 7 years Rs. 5,000
Senior Citizens Account 60 years Rs. 5,000 urban/ semi urban
Family Savings Group Account 18 years Combined Average Monthly Balance in all accounts should be Rs. 40,000
Basic Savings Bank Deposit Account 18 years Nil
Institutional Savings Account Nil
BSBDA Small Account 18 years Nil
Savings Farmers Account 18 years Rs. 2,500

HDFC Savings Account Products

Savings Max Account

This account is for resident Indians of 18 years of age and above

Features of Savings Max Account

  • Insurance Benefits like Accidental hospitalization cover, Accidental Death Insurance Cover, Death Cover by Air, Road, Rail
  • Other Special Benefits: Preferential pricing on new Online Trading Accounts, auto and two wheeler loan offers
  • Auto Sweep Facility: account can be linked to a FD account for earning higher term deposit interest on surplus money subject to a minimum amount of Rs. 1.25 Lacs after retaining Rs. 1 Lac in the account

Debit Card Offered : Titanium Royale Debit Card

Cash Withdrawal Limit : Daily cash withdrawal limit of Rs. 1,00,000

Balance Non Maintenance Charges : 6 percent of the Maximum Shortfall in the AMB slab or Rs. 600 whichever is lower

Regular Savings Account

A premium savings account that helps to save money judiciously.

This account is for resident Indians of 18 years of age and above

Features of Regular Savings Account

  • Use Net Banking, BillPay, Phone Banking and Mobile Banking for all your banking need
  • Exclusive discounts and offers through bank's online shopping portal smartbuy.hdfcbank.com

Debit Card Offered : Select from a range of International Debit cards

Balance Non Maintenance Charges : Rs. 150 to Rs. 600

Women's Savings Account

This account helps you meet your day to day banking needs while giving you 24X7 access to your bank.

This account serves only women Indian residents above the age of 18 years

Features of Women's Savings Account

  • Personal Accident Death Cover of Rs. 10 lacs
  • Accidental Hospitalisation cover of Rs. 1 Lac per annum as a reimbursement cover
  • Auto Sweep Facility: account can be linked to Multi Option Deposit MOD account for earning higher term deposit interest on surplus money subject to a minimum amount
  • Auto and two wheeler loan offers

Debit Card Offered : Woman Advantage Debit Card

Cash Withdrawal Limit : Rs. 25,000 per day for cash withdrawal

Balance Non Maintenance Charges : Rs. 150 to Rs. 600

Kids Advantage Account

A complete solution catering to the banking, investment and lifestyle needs of an independent woman.

For opening this account, the child should be a minor and parents must have a Savings Account with the Bank

Features of Kids Advantage Account

  • Free Education Insurance cover of Rs. 1 Lac
  • Mandatory building of an investment pool by transferring Rs. 1,000 every month for a minimum of 1 year
  • Auto Sweep Facility : account can be linked to Multi Option Deposit MOD account for earning higher term deposit interest on surplus money subject to a minimum amount

Debit Card Offered : ATM or International Debit Card issued, with parents permission

Cash Withdrawal Limit : Rs. 2,500

Balance Non Maintenance Charges : Rs. 150 to Rs. 300

Senior Citizens Account

Inculcate the habit of savings and spending judiciously in your minors who can open this account and manage it independently.

This account is for Indian residents of age of 60 years and above

Features of Senior Citizens Account

  • Accidental Hospitalisation Cover of Rs. 50,000 per annum
  • Preferential rates on Fixed Deposits
  • Free Phone Banking, Net Banking and Insta Alert
  • Free e statement facility
  • Payable at Par PAP chequebooks are issued free. With this facility, outstation cheques issued by you for clearing will be treated as local cheques, at any location of the bank

Debit Card Offered : EasyShop International Debit Card

Cash Withdrawal Limit : Rs. 50,000 per day

Balance Non Maintenance Charges : Rs. 150 to Rs. 300

Family Savings Group Account

Avail health and investment benefits along with independency of convenient banking.

Members of a family who have an individual HDFC Bank account are jointly eligible to open this account. Also, the Primary account holder cannot be a minor

Features of Family Savings Group Account

  • 50 percent off on the Locker rental
  • Savings account sweep in to a nominated account
  • PAP chequebook free of issuance charge
  • Bank conveniently with facilities like Net Banking, Phone Banking and Mobile Banking
  • Online Trading Accounts Special offers

Debit Card Offered : EasyShop International Debit Card for all account holders

Balance Non Maintenance Charges : 6 percent of the maximum shortfall in the AMB slab or Rs. 600 whichever is lower

Basic Savings Bank Deposit Account

Avail top notch banking benefits for your family.

This account is for resident Indians of 18 years of age and above

Features of Basic Savings Bank Deposit Account

  • Free IVR based Phone Banking
  • Free Net Banking
  • Free BillPay to pay all your frequent utility bills

Debit Card Offered : RuPay Card

Balance Non Maintenance Charges : None

Institutional Savings Account

A zero balance account with the widest ATM network and other conveniences.

This account is open to any Trust, Association, Society, Club, NGO, Charitable Hospital, Educational Institute, Section 25 companies that is eligible to open a account as per RBI guidelines

Features of Institutional Savings Account

  • Payable at Par cheque book with no usage charge
  • Facilitated by Cash Management Services team, this account can be used for collection of donations, fees etc.
  • Online payments like salary, vendor payments etc can be facilitated through the facilities like Net Banking, Phone Banking and Mobile Banking
  • Facilities like Net Banking, Phone Banking and Mobile Banking

Debit Card Offered : Business Debit Card

Balance Non Maintenance Charges : None

BSBDA Small Account

This account can be used for convenient collections and simplified payments of your business.

This account is for resident Indians of 18 years of age and above

Features of BSBDA Small Account

  • The total balance in your account should not exceed Rs. 50,000 at any point of time
  • The total credits in all your account should not exceed Rs. 1 Lac at any point of time
  • The total withdrawals and transfers in your account should not exceed Rs. 10,000 in a month

Debit Card Offered : RuPay Card

Balance Non Maintenance Charges : None

Savings Farmers Account

This account offers and encourages resident individuals who donot have complete KYC to avail banking services.

Savings Farmers Account is available for Farmers only at selected branches

Features of Savings Farmers Account

  • Discounts and offers through bank's online shopping portal smartbuy.hdfcbank.com
  • Free IVR based Phone Banking
  • Annual Maintenance Charge AMC waived off for the first year for the first new Demat account
  • Use Net Banking, BillPay, Phone Banking and Mobile Banking for all your banking needs

Debit Card Offered : RuPay premium Card

Balance Non Maintenance Charges : Upto Rs. 900

Documents Required

HDFC Bank requires the following documents to open a Savings Account

  • Signed application form
  • Income Tax PAN Copy
  • Identity Proof: Driving License, PAN, Passport VoterID
  • Address Proof: Utility Bill, Property Tax Bill. Any other ID and address proof issued through a competent authority are also valid
  • In case of Kids Advantage Account, Id and address proof of guardian, Photograph of guardian, Birth proof of minor, Declaration from guardian are required

Frequently Asked Questions on HDFC Bank Savings Account

How much interest is charged by HDFC on Savings Account?

HDFC offers an interest rate of 3.50% to 4.00% on Savings Account.

What is the minimum amount required for opening Savings Account in HDFC Bank ?

The minimum amount required for opening Savings Account in HDFC is Rs. 10,000 for metro urban branches Rs. 5,000 For Semi urban branches Rs. 2,500 for Rural branches is required to open a Savings Regular Account.

What are the balance non - maintenance Charges on HDFC Savings Account?

The Balance Non Maintenance Charges on Savings Account by HDFC are Rs. 150 to Rs. 600.

How does HDFC calculate interest charged on Savings Account?

Interest on Savings Account is calculated on Quarterly basis. The following formula is used by HDFC Bank to calculate interest on Savings Account.

Monthly interest=Amount (Daily balance)*(No of days)* Interest/Days in the year

Does HDFC Bank offer Debit card to the account holder?

Yes, various debit cards are offered, differing according to the product. Some of the popular savings account products of HDFC Bank with the type of debit card offered are listed in the table below.

Savings Max AccountTitanium Royale Debit Card
Regular Savings AccountSelect from a range of International Debit cards
Women's Savings AccountWoman Advantage Debit Card
Kids Advantage AccountATM or International Debit Card issued, with parents permission
Senior Citizens AccountEasyShop International Debit Card
Family Savings Group AccountEasyShop International Debit Card for all account holders
Basic Savings Bank Deposit AccountRuPay Card
Institutional Savings AccountBusiness Debit Card
BSBDA Small AccountRuPay Card
Savings Farmers AccountRuPay premium Card

Interest rate on all SBI deposits products listed in the table above is 3.50% to 4.00%

What is the eligibility criteria to open a savings account in HDFC Bank
  • This account is for resident Indians of 18 years of age and above
HDFC News - Mar 2019
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