HDFC Bank Savings Account
HDFC Bank is an Indian banking and financial services company. HDFC Bank is one of the India’s largest leading private sector banks by assets and world’s 10th largest bank by market capitalisation as of April 2021. It is the third largest company by market capitalisation as of Rs 122.50 billion on the Indian stock exchanges.
|Headquarters||Mumbai, Maharashtra, India|
|Owner||Housing Development, Finance Corporation|
|Subsidiaries||HDFC Securities HDB Financial Services|
HDFC Bank Savings Account
The Savings Bank Account is always available to the customers with various facilities such as Mobile Banking, Net Banking etc. HDFC Bank offers several types of Savings Account to its customers including a basic salary account to savings max, women’s special account, senior citizen special account and many more through which you can enjoy exclusive Debit Card and Insurance facilities.
Features and Benefits of HDFC Bank Savings Account
- HDFC Bank offers complete banking solutions
- Free Mobile Banking, Net Banking, Phone Banking facilities are available
- ATM facilities with widest ATM networks across the country to meet all your banking needs
- Easy transactions
- Debit Card facilities etc.
Types of HDFC Savings Bank Account
1. Regular Savings Account
This savings account is designed to meet your day-to-day banking needs while giving you 24 X 7 access to your bank.
2. HDFC Bank Women’s Savings Account
This savings account is designed for women’s banking investment and lifestyle needs. This savings account is tailored for the woman of today to enjoy special benefits like preferential pricing on products including loans, offers and cashback on shopping and many more.
3. Zero Balance or Basic Savings Account
This is similar to the regular Savings Account, but 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.
4. Kids Savings Account
This is a savings account which is designed for parents who want to put away a certain sum of money for their children. This is a good way to inculcate money management skills in children.
5. Senior Citizen’s Savings Account
This savings account is designed for senior citizens of the society, for their requirements. This type of Savings Account usually comes with health and investment related benefits. Further, account holders get insurance benefits and preferential rates on fixed deposits.
6. Family Savings Account
Family Savings Account is another type of Regular Savings Account. This type of account allows an entire family to enjoy the benefits from one Savings Account.
7. Basic Savings Bank Deposit Account
This is a zero balance savings account with free ATM, that meets all your banking requirements.
8. Institutional Savings Account
This savings account is available for Trusts, Societies, Associations, Clubs, NGOs and so on.
Also Read: SBI Savings Account
How to Open an HDFC Bank Savings Account through both Online and Offline Mode
To apply online applicants won’t have to visit the branch, they can open their savings account through online. Below are the certain steps mentioned to apply for HDFC savings account through online.
- Visit the official portal of HDFC or open the mobile banking app
- Click on “Open Instantly” against your selected savings account option
- Provide your mobile number and verify your OTP
- Provide all your required documents such as Aadhar card, PAN card etc
- Enter your contact details
- Once your application process is complete, authenticate using video KYC
- After successful verification, your bank account will be opened instantly
Steps to open HDFC savings account offline:
- Visit the nearest branch
- Fill up the application form of savings account
- Attached all your essentials documents such as Aadhar card, PAN card etc and submit the form
- Submit the demand draft or check or cash for depositing the amount in the bank account
- After proper verification, your bank account will be opened
HDFC Bank Savings Account Interest Rates
|Particulars||Rate of Interest|
|Savings Deposit Balance below Rs 50 lakh||3.00% p.a.|
|Savings Deposits Balance of 5s 50 lakh and above||3.50% p.a.|
|Types of Savings Account||Interest Rates|
|Regular Savings Account||3.00% p.a. to 350% p.a.|
|Women’s Savings Account||3.00% p.a. to 3.50% p.a.|
|Kids Advantage Savings Account||3.00% p.a. to 3.50% p.a.|
|Senior Citizens Account||3.00% p.a. to 3.50% p.a.|
|Family Savings Account||3.00% p.a. to 3.50% p.a.|
|Institutional Savings Account||3.00% p.a. to 3.50% p.a.|
- Residents of India
- Age between 18 to 65 years
- Account can be opened by an individual singly or jointly
- Minors of the age of 10 years and above
- Minors under natural/legal guardianship
- Foreign national residing in India
To open a savings account, you will have to submit the following documents as mentioned below:
- ID proof
- Address proof
- 2 passport size photographs
- Self-attested copies and originals for verification
Fees and Charges
|Savings Account Scheme||Standing Instructions||Debit Card|
|Regular Savings Account||Rs 25 + remittance fee||Free|
|Women’s Savings Account||Rs 25 + remittance fee||Rs 150 + Taxes|
|Kid’s Advantage Savings Account||Rs 25 + remittance fee||Free|
|Senior Citizens Account||Rs 25 + remittance fee||Free for lifetime for 1st applicant. Rs 100 + taxes for other applicants|
|Family Savings Account||Rs 25 + remittance fee||Free|
|Basic Savings Deposit Account||Rs 25 + remittance fee||Rs 100 + taxes|
|Institutional Savings Account||Rs 25 + remittance fee||N/A|
1. Can I open an HDFC Savings Bank account through online mode?
Ans: Yes, you can open your savings account through both online and offline mode.
2. Can I transfer my HDFC savings account to another branch of HDFC Bank?
Ans: Yes, you can transfer your HDFC savings account to a different branch by submitting an account transfer form which needs to be signed by all the applicants.
3. What is the HDFC Bank savings account interest rate?
Ans: At present, balances below Rs 50 lakh, HDFC savings account interest rate is 3% p.a. and for Rs 50 lakh or above the interest ranges from 3.50% p.a.
4. If my savings account becomes Dormant, Is it possible to activate my HDFC Dormant Savings Account?
Ans: Yes, you can reactivate your HDFC Dormant savings account, you just need to visit the branch and submit a written request for the activation of your account.
5. When will my HDFC savings account will consider as Dormant?
Ans: The account is categorized as ‘Dormant’, if the customer does not initiate transactions through the account for two years or more. If the account becomes ‘Dormant’, then the transactions like Net Banking, Mobile Banking, Phone Banking etc. are not permitted by the Bank.
Hi, I’m Dev Kirtonia, Founder & CEO of Dev Library. A website that provides all SCERT, NCERT 3 to 12, and BA, B.com, B.Sc, and Computer Science with Post Graduate Notes & Suggestions, Novel, eBooks, Biography, Quotes, Study Materials, and more.