What are the benefits of HDFC savings account?
- Easy Transactions. You can use your Savings Account to send and receive payments. ...
- Payment of Bills. These days, banks offer payment facilities such as BillPay with Savings Accounts. ...
- ATM facility. ...
- NetBanking and MobileBanking. ...
- Debit Card. ...
- Savings interest rates. ...
- Cross Product benefits.
- Savings accounts earn interest.
- Savings accounts are easy to open and access.
- Your bank may have limits on savings account transactions.
- Savings accounts are a secure way to save.
- Some banks charge fees on their savings accounts.
Each transaction is safe and using this account much frequently. 0.5 4.5/5 "Excellent!" HDFC Bank i am maintaining savings account this is a salary c*ms savings so no need to maintain minimum balance. This bank has a good app is and its fine to use.
A Savings Account, by definition, allows you to deposit your money, safe with the bank, so you don't have to carry it around with you or hide it in that rusted old steel safe at home. Don't worry, you can withdraw these funds when you need them.
A Savings Account allows for convenient money management – you can make and receive payments as well as transfer funds from one account to another. Further, you can access your money via ATM services.
The 3 common savings account types are regular deposit, money market, and CDs. Each one works a little different regarding accessibility and amount of interest. Besides these accounts, there are other savings options too.
| Benefits / Product | SavingsMax Account (Our Premium Product) | Regular Savings Account |
|---|---|---|
| Debit Card Benefit | ||
| Make every swipe count | Lifetime free Platinum Debit Card 1. Daily cash withdrawal limit of Rs. 1 Lakh 2. Daily shopping limit of Rs. 5 lakh 3. 1% CashBack* on every transaction | Select from the range of cards |
| Special Benefits |
| S.No. | Savings Bank Account | Rates of Interest (p.a.) |
|---|---|---|
| 1. | State Bank of India (SBI) Savings Account | 2.70% p.a. |
| 2. | HDFC Bank Savings Account | 3.50% p.a. |
| 3. | Kotak Mahindra Bank Savings Account | 3.50% p.a. |
| 4. | DCB Bank Savings Account | 6.50% p.a. |
| Benefits/ Product | Savings MAX Account (Our Premium Product) |
|---|---|
| Accounts and Services | |
| ATM transactions | Unlimited free transactions |
| Average Monthly Balance (AMB) | AMB of Rs.25,000 OR FD Cushion of Rs 1.5 Lakh in Metro/ Urban Locations Rs 1 Lakh in SURU Locations |
- Basic Savings Account. Also known as passbook savings accounts, these accounts are a good introduction to earning interest and saving money. ...
- Online Savings Accounts. ...
- Money Market Savings Accounts. ...
- Certificate of Deposit Account.
What are the main features of savings account?
- Interest rates. Banks offer depositors interest rates in exchange for keeping their funds with them. ...
- Minimum balance requirement. ...
- Withdrawal flexibility. ...
- ATM facility. ...
- Debit card. ...
- Passbook and cheque book facility. ...
- No age bar. ...
- Internet Banking.
You can open a savings account at a bank or credit union and deposit money into the account. The bank then pays you interest on your balance. You can continue adding money to savings, usually through one or more of these methods, depending on the bank: Cash or check deposits at the ATM.
The Basic Savings Bank Deposit Account or BSBDA is a Savings Account that does not have a minimum balance. In contrast, a BSBDA has a maximum account balance that has to be maintained. The BSBDA holder will get an ATM cum Debit Card as a part of the account opening formalities.
An everyday savings account with a low monthly fee that can be waived1 plus lots of other perks to help you reach your savings goals. Drop the monthly maintenance fee.
personal savings
[ plural ] the money that a person, rather than a business or organization, keeps in an account in a bank or similar financial organization: They introduced tax breaks which made many personal savings tax-free.
0.5 4.0/5 "Great!" To open the current account it is easy also it is simple with HDFC BANK also there are no charges applicable for any of the services also there is no minimum balance should be maintained. The overall service is good with the bank also the customer support is good.
Cons: HDFC is having limited free transactions monthly after that they will charge fee for every transaction. The customer:employee ration is low. For example you have to wait for your transaction is most of the branches.
The P/B ratio of HDFC bank as of April 2022 is 3.16, whereas for ICICI bank, it is 3.28. EPS or earning per share is a value depicting the earnings in one share out of all the outstanding shares based on the net income. The EPS for ICICI bank is 66.64, and for HDFC Bank it is 29.82.
For regular savings accounts held in HDFC Bank's metro and urban branches, the customer is required to maintain an average monthly balance of ₹ 10,000 to avoid penalty charges, according to the lender's website - hdfcbank.com. In semi-urban branches, an average of ₹ 5,000 is required.
