All you want to know about HDFC Saving Account


HDFC bank saving account offers a variety of facilities and privileges to its customers. Saving Account with HDFC bank is always preferred by the customers when they think to open a saving account in a private bank. Strong customer support and convenient technology used by HDFC is highly appreciated by its customers. On the basis of gender, seniority level, occupation etc savings account have been designed.

Features of HDFC Saving Account

  • It provides a complete banking solution to its customer.
  • Needs of different customers is fulfilled by the variety of saving accounts maintained by customers.
  • A wide range of ATMs networks in the country.
  • Free net banking, phone banking services
  • The widest network of ATMs in the country

Revised Interest rates of HDFC Saving bank

ParticularsInterest Rates
Balance below Rs 50 Lakh3.5% p.a.
Balance of Rs 50 Lakhs or above4% p.a.

Types of HDFC Saving Account

Types of AccountsKey FeaturesMinimum Average Balance
SavingsMax Account
  • free lifetime debit card
  • free personal accidental death cover and 1% cash back on transactions
  • Benefit on saving account of special loan schemes, discounts on forex and gift card, and preferential pricing is provided over the new online trading account.
Rs. 25000
Women’s Saving Account
  • Benefits of insurance, preferential pricing, and special loan offer and cash back on shopping
  • Customized EasyShop Woman’s Advantage Debit Card
  • Instant transaction alerts, easy options of bill payment and multiple modes of banking.
Metro &Urban- Rs 10,000
Semi-Urban & Rural- Rs 5000
Regular Saving Account
  • Its Annual Maintenance Charges (AMC) waived off for the first year for the first new Demat account
  • It is designed to meet your every bank need by save, pay, invest and shop
  • The benefit of personalized cheque books and the option to choose a debit card to match your lifestyle needs.
Urban- 10,000
Semi-urban-5000
Rural- 2500 or Fixed Deposit of Rs.10,000 for a minimum tenure of 1 year 1 day
Senior Citizens Account
  • Specially designed for senior citizens including banking, health and insurance benefits
  • Preferential rates on FD’s and free international debit card
  • Benefits of accident hospitalization reimbursement cover and international debit card.
Rs 5000
Digisewa Youth Account
  • Offers like Special pricing – Education Loan & Forex Cards
  • A complete digital platform for everything that you need
  • Every month amazing offers on Recharge, Travel, Movies, Shopping via PayZapp
Metro/Urban- Rs 5000
Semi-urban/Rural- 2500
Kids Advantage Account
  • The benefit of education insurance cover benefit for children
  • Benefits of the account can be availed by the parents via standing instructions
  • International debit card for children
Rs 5000
Family Savings Group Account
  • Specially designed saving account for complete banking solution for your family
  • free international debit cards and higher interest on the account balance.
  • Discounts on locker rentals and free demand drafts.
Government/Institutional Savings Account
  • Zero balance institutional saving account
  • Unlimited free demand drafts and Free Outstation Cheque Collection
  • Offers benefits related to managing donations, fees and invoice dues.
Basic Savings Bank Deposit Account
  • Zero balance Account and a free Rupay card
  • Customers can avail the benefits like bill payment options, statements, and alerts.
  • An option of the international debit card and safe deposit locker.
No MAB needs to be maintained
Government Scheme Beneficiary Savings Account
  • Zero balance account to beneficiaries of government schemes
  • Facilities of higher Cash transaction limits & access to HDFCs digital platforms
No MAB needs to be maintained
BSBDA Small Account
  • Zero balance and a free rupay card
  • The customer can avail the option of an international debit card and safe deposit locker
  • Free lifetime bill pay
No MAB needs to be maintained

Things to think before opening HDFC Saving Account

  • You should check the withdrawal and per day transaction limit for that account
  • Interest rate getting on the account that you are going to open is essential to know as it will decide your future returns over the deposit.
  • You should have an idea about the extra charges charged by the bank on not maintaining the minimum average balance.

Steps to open HDFC Saving Account

  • After applying for the opening of a saving account, the applicant needs to fill the required form correctly. Under the online process, you can find the application form on the home page of HDFC Bank.
  • Submit the above-required documents-

Identity Proof- Passport, Voting Card, Driving License etc

Address Proof-Passport, Voting Card, Driving License etc

PAN Card

Adhar Card

2 Passport size photos

  • After filling the form, the applicant will have to complete its KYC at the preferred HDFC branch. In the case of the online process same form needs to be uploaded
  • Bank will verify the submitted documents and matches with KYC done by you.
  • After completing the verification process applicant has to submit the initial deposit as per the account opened by him.
  • On the completion of the deposit process, bank executive will handover you the banking kit along with your net banking details and Debit Card.

Eligibility

  • Individual singly or jointly, Minors at the age of 10 or above or minors under the legal guardianship
  • Hindu Undivided Family
  • Foreign residing in India- by attaching QA 22 form stating sources of credit and a copy of your residence permit

CA Abhishek Soni

Abhishek Soni is a Chartered Accountant by profession & entrepreneur by passion. He is the co-founder & CEO of Tax2Win.in. Tax2win is amongst the top 25 emerging startups of Asia and authorized ERI by the Income Tax Department. In the past, he worked in EY and comes with wide industry experience from telecom, retail to manufacturing to entertainment where he has handled various national and international assignments.