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CreditMantri Finserve Private Limited Unit No. B2, No 769, Phase-1, Lower Ground Floor, Spencer Plaza, Anna Salai, Chennai - 600002
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About HDFC Bank Savings Account
HDFC Bank is a top bank in India's private sector. They offer many different financial products to meet the needs of their customers. One of their most popular products is the HDFC Bank Savings Account. This account has good interest rates and many helpful features, making it a popular choice for millions of people across India.
Below, we will discuss the interest rate for the HDFC Bank Savings Account, the different types of HDFC Savings Accounts, the minimum amount you need to keep in your account, any fees, and much more.
An HDFC Bank Savings Account provides a secure way to save money and earn interest over time. This account makes it easy to get your money when you need it, and it also comes with online banking and many other helpful services. If you're looking for a safe and convenient way to keep your money and earn interest on it, an HDFC Bank Savings Account is a good choice.
Feature | Details |
---|---|
Account Type | Regular, Basic, Salary, Children's, Senior Citizens, Digital |
Interest Rate | 3.00% - 3.50% per annum (varies based on balance and account type) |
Minimum Balance | Regular: ₹10,000 (metro/urban), ₹5,000 (rural/semi-urban) Basic: No minimum balance Digital: ₹10,000 (metro/urban) |
Key Features | Interest earnings, Easy access to funds, Safety and security, Online/Mobile banking, Fund transfer options, ATM/Debit card, Cheque book, Access to other banking services |
Benefits | Competitive interest rates, Convenient access, Safety and security, Easy fund transfers, Wide range of banking services |
Charges | Minimum balance charges, ATM usage charges, Bounced cheque charges, Early account closure charges |
The main things you get with an HDFC Bank Savings Account are:
The interest rate on the HDFC Bank Savings Account is very important to customers. Right now, HDFC Bank offers an interest rate between 3.00% and 3.50% per year on your savings account balance. The exact rate depends on the type of account you have and how much money you keep in it.
With more than ₹50 lakh in your account, you could earn an interest rate as high as 3.50% per year. If you have less than ₹50 lakh, you can earn an interest rate of 3.00% per year. The interest is added to your account every three months, which helps you earn more money over time.
The interest rate offered by HDFC Bank is good compared to other private banks. This allows customers to earn money on their savings while still being able to easily access their money.
One of the most important things to think about when you open a savings account at any bank is how much money you need to keep in it. This is called the minimum balance. The minimum balance for an HDFC Savings Account depends on the type of account you choose.
Failing to keep enough funds in your account may result in a penalty fee from the bank. So, it's important to make sure you keep the required amount of money in your account.
Opening an HDFC bank savings account is a simple and straightforward process. Here’s a clear, step-by-step guide for opening an account:
Alternatively, you can visit any HDFC Bank branch to open a savings account. You will need to carry the original and photocopy of your KYC documents. Fill out the account opening form and submit the required documents for verification.
Once verified, you will be provided with your account details, chequebook, and debit card.
Recommended Read: How to Open an HDFC Zero Balance Account Online?
HDFC Bank offers many benefits, but there are some fees associated with the HDFC Savings Account. These costs may vary according to the type of account you have. Here are some common fees:
It's always a good idea to carefully read the terms and conditions for your account type to avoid any unexpected fees.
Here are some of the key benefits of opening an HDFC savings account:
1. What is the minimum balance requirement for an HDFC Bank Savings Account?
An HDFC Bank Savings Account requires a minimum balance of ₹10,000 in urban areas and ₹5,000 in semi-urban and rural areas. Basic and digital accounts have no minimum balance condition.
2. What is the interest rate on the HDFC Bank Savings Account?
Savings account balances at HDFC Bank earn an interest rate between 3.00% and 3.50% annually. The rate depends on the account balance and can go up to 3.50% for balances above ₹50 lakh.
3. How can I open an HDFC Bank Savings Account?
You can open an HDFC Bank Savings Account online via the bank's website or offline at any HDFC branch by filling out the application form and submitting your KYC documents.
4. What are the charges for not maintaining the minimum balance in an HDFC Savings Account?
If you don’t maintain the required minimum balance, you may incur a penalty ranging from ₹150 to ₹600, depending on the location of your account.
5. Are there any charges for using HDFC Bank ATMs?
HDFC Bank offers five free ATM withdrawals per month. After that, a charge of ₹20 per transaction applies for withdrawals from other bank ATMs.
6. What savings accounts does HDFC Bank offer to customers?
HDFC Bank offers various savings accounts, including regular, basic, salary, children’s, senior citizens’, and digital savings accounts to suit different customer needs.
7. Can I access my HDFC Savings Account online?
Yes, HDFC Bank provides easy access to your savings account through internet banking and mobile banking, allowing you to manage your account, transfer funds, and view statements online.
Disclaimer: This page includes information that has been compiled from many sources and is only offered for informational purposes. Since this type of data might change over time, we cannot guarantee that the information supplied or included within it is accurate. It is anticipated that the user would confirm with the relevant source prior to taking any choices or actions.
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