What is the minimum balance for HDFC savings account? (2024)

FAQs

What is the minimum balance in HDFC Bank Savings Account? ›

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.

Zero Balance or Basic Savings Account

This is similar to the regular Savings Account, but unlike that account, you are not required to maintain any minimum balance for this account. It does, however, come with an ATM/Debit Card for your daily transactions.

Charges (excluding taxes)

For insufficient balances in standard savings accounts held at HDFC Bank's metro, urban, and semi-urban branches, there is a fine of between Rs. 150 and Rs. 600 (excluding of taxes).

What is BSBDA? The Basic Savings Bank Deposit Account or BSBDA is a Savings Account that does not have a minimum balance.

Many banks impose penalties for not maintaining the minimum balance in savings accounts. In such cases, closing the account would be beneficial if you're unable to adhere to the monthly average balance guidelines. A savings account in a bank is essential for many financial transactions.

Punjab National Bank

The account holders in semi-urban and rural locations need to maintain a minimum quarterly average balance is Rs 1000 and Rs 500, respectively.

There are different types of savings accounts to choose from, and they're not all alike. The options include traditional savings accounts, high-yield savings accounts, money market accounts, certificates of deposit, cash management accounts and specialty savings accounts.

HDFC Bank regularly extends offers and discounts to its customers. Be it on shopping, loans, bill payments, EMI purchases or others; new offers are launched on a timely basis. Customers are also given exclusive offers such as CashBack, Reward Points, and vouchers to be loyal and complete milestones.

With HDFC Bank, you have several different types of Savings Accounts to choose from such as - Savings MAX Account, DigiSave Youth Account, Women's Savings Account, Senior Citizens Savings Account and Regular Savings Account.

What is the benefits of HDFC NRI account? ›

You can also transfer funds instantly to your family in India and invest in Indian assets through our NRI Savings Accounts. Get better interest rates, 24x7 Netbanking access, attractive foreign exchange rates and an array of features that will make banking in India and abroad hassle-free.

The Reserve Bank of India (RBI) has imposed, by order dated June 13, 2019, monetary penalty of ₹10 million on HDFC Bank Limited (the bank) for non-compliance with directions issued by RBI on 'Know Your Customer (KYC/ Anti-Money Laundering (AML) norms' and on reporting of frauds.

Sr. No. Monthly Limit - Free upto 4 times current month POS value (Amount swiped at HDFC Bank EDC machine) per month or 25 transactions whichever is lower,deposit in excess of 4 times POS value or 50 transactions will be charged @ ₹ 3/- per ₹ 1,000, minimum ₹ 50/- per transaction.

​​​​​​​*For Security reasons, ATM cash withdrawal limit is capped at ₹ 0.5 Lakhs per day and ₹ 10 Lakhs per month for first 6 months from Account opening date. For accounts older than 6 months, ATM cash withdrawal limit is capped at ₹ 2 Lakhs per day and ₹ 10 Lakhs per month. This is implemented with immediate effect.

Banks require you to maintain a minimum balance in their savings bank accounts. Some banks have a quarterly minimum balance requirement, while some have monthly minimum balance requirements. The amount varies depending on the type of bank account and also on the location of the branch.

You have the freedom to set the online Third Party Transfer limit on your account for any amount from Rs 1,0002 to Rs 50,00,000, instantly. What's more, you can reset the limit as often as you need to. The preset limit for all accounts is Rs.2 lacs.

This fee is what a bank or credit union may charge you to keep your savings account up and running. It's typically deducted straight from your account each month. Monthly maintenance fees may be more common among financial institutions that maintain brick-and-mortar locations.