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    Why Choose HDFC Bank savings account?

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    Basant Kumar
    Basant Kumar, I am an Indian blogger. I specialize in all types of posts and I have been supporting on social media ever since days. If we want to make you successful and successful then social media is a very good and easy way whether you are in studies or business etc.

    A savings account is a most common type of account used by Indian citizens. This type of a savings account allows an individual to deposit money in a safer way and you can withdraw the funds any time you want that too by earning interest. Savings account is a liquid investment, you can use the money whenever you want at your own ease. When compared to other investment schemes like Fixed deposits, a savings account comes more handy due to its feature that money can be withdrawn any time without paying any fees. Every lender provides an option to open a savings account, HDFC Bank (The Housing Development Finance Corporation Limited) founded in 1994 has some amazing features related to such an account. 

    Features and Benefit Of HDFC Savings Account

    • HDFC Bank savings account is a complete solution for the customers, customers can enjoy the health benefits, investment benefits and other banking services. 
    • ATMs of the bank are available across the country 
    • A customer is also offered with services like free net banking, mobile banking and phone banking.
    • An account holder is provided with an Email account statements every month 
    • Some of the savings accounts are provided with a facility of “Money Maximizer”, with that facility surplus funds are put into high earning fixed deposits. 

    Documents required

    To open the document you will be required to submit the following documents:-

    • Identity proof- Aadhaar card/ PAN card/ Driving license
    • Address proof- Passport/Voter Id/Ration card/Driving license/Recent electricity or telephone bills 
    • Passport size photographs
    • You will have to submit the originals for verification and self attested copies. 

    Eligibility criteria to open the account

    • Any individual who is above 10 years can open the account individually or co-jointly, a minor’s account should be opened under guardianship. 
    • Resident individuals (sole or joint account)
    • Hindu undivided families
    • Foreign nationals residing in India – If you are a foreign national residing in India, you may open a Savings Account by attaching an QA 22 form stating sources of credit and a copy of your residence permit.

    Interest Rates on HDFC Bank Savings Bank Deposits

    ParticularsRate of Interest
    Balance below Rs. 50 lakh3.50% per annum
    Balance of Rs. 50 lakh and above.4.00% per annum

    Types of savings account offered by HDFC Bank

    Savings AccountRate of InterestBalance Required
    SavingsMax Account4.00%Rs 25,000
    Regular Savings Account4.00%Rs. 10,000 (urban branches), Rs. 5,000 (semi-urban branches), Rs.2,500 (Rural Branches)
    Women’s Savings Account4.00%Rs. 10,000 (Urban branches), Rs. 5,000 (Semi Urban branches)
    Kid’s Advantage Account4.00%Rs. 5,000
    Senior Citizen Account4.00%Rs. 5,000
    Family Savings Group4.00%Rs. 40, 000
    Basic Savings Bank Deposit4.00%Not Required
    Institutional Savings Account4.00%Not Required
    BSBDA Small Account4.00%Not Required

    HDFC Bank has following Savings Account Schemes:-

    • SavingsMax Account– This account is offered to people who want to keep a minimum balance of Rs 25,000 and high returns can be earned from that. It  also has a sweep out facility.
    • Regular Savings Account- In this type of account an individual is offered with 24*7 banking services to meet all day to day requirements.
    • Women’s Savings Account– This type of a saving account is specially customised for women to fulfill their financial, investment and lifestyle needs. 
    • Kid’s Advantage Account- This account helps build the child’s future. The bank allows children to operate the bank.
    • Senior Citizen Account- Under this saving scheme senior citizens get free lifetime debit cards as well as free insurance benefits.
    • Family Savings Group– This type of savings account is for the entire family, it gives the entire banking solution to all the entire family under one account.  
    • Basic Savings Bank Deposit-  This account type is a zero balance savings account where an investor is not required to have a minimum balance. 
    • Institutional Savings Account– Trusts, Societies, Associations, Clubs, and NGOs open institutional savings accounts, this is also a zero balance savings account. 
    • BSBDA Small Account– This is another type of account where no minimum balance is required and there are no annual maintenance charges as well.

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