Dear People Out There! These are the minimum balance requirements for saving account in different branches of HDFC bank also. These branches are: Metro, Semi-urban, and Rural. First of all you need to understand that, banks charge you penalty on non-maintenance of monthly average balance and not on minimum balance. The minimum balance varies with different savings account. Minimum Average Balance to be maintained – 10,000; Charges for non-maintenance of Minimum Balance – 1,500; Cash Deposit Limit (Base Location) – Free upto ₹ 10 lacs per month or 25 transactions (whichever is breached first) Charges @ ₹ 3/-per ₹ 1,000/- minimum ₹ 50/- per txn beyond free limits With service Tax and other cess, the amount is more than Rs 600. Minimum Balance: Zero Balance Account: Account Operation: Instant Bank Account Number Generation: Debit Card: Virtual Debit Card Available: Interest Rate: Higher Interest Rate for funds in excess of Rs 10,000: Online Transfer: Free online transfer through NEFT and IMPS: Offers : Gives many offers on online shopping thus providing customers to save big on shopping online: 6. Zero Balance Savings Account is a type of account where you are not required to maintain a minimum balance. Zero Balance Savings account is a deposit account that doesnt demand you to keep a minimum balance in the account. 40,000 : Interest Rate: 4% per annum: Debit Card: EasyShop International Debit Card: Eligibility Criteria: Members of the family having individual HDFC Bank account. SBI had reintroduced minimum balance charges in April 2017 after five years of waiving it. 2000 Rural – Rs. said, adding that the minimum average monthly balance requirement is Rs. Some Savings Accounts have a mandatory minimum balance requirement. The savings account interest rate on these accounts are also high which makes it even more appealing. For savings account in metro cities, HDFC Bank may charge you as much as 600 rupees for not maintaining the minimum balance. Minimum Balance Savings Account. A majority of banks in India are at least keeping a limit of Rs.10,000 per account to maintain. HDFC Bank. Your account is pre-set with Net and MobileBanking which means you can start banking using the HDFC Bank Savings Account as soon as you add money in your account; Accounts opened through InstaAccount Journey are valid only for a year since it uses a limited KYC/customer identification process. 1,00,000: Women’s Savings Account: Rs. 50 lakh and above. Despite the lockdown, the largest private sector lender HDFC Bank has been facility which helps open savings accounts instantly, sources said. The minimum balance which you have to maintain once you open the bank account with RBL Bank. *HDFC Bank provides 3.00% p.a. Interest rates earned on the savings is 4% per annum. Customers having a regular savings account in HDFC Bank branches located in metro and urban areas are required to maintain an average monthly balance of … Current Account For Professionals. Within this time, you will need to complete a full KYC/customer identification process by … See below HDFC Bank Minimum Balance in savings account based on location. Varies from each type of bank account listed above. HDFC Bank: If you are a savings bank account holder then the minimum balance limit in Metro/Urban branches is Rs10,000. It is one of the most difficult tasks to maintain a minimum balance in the account. The Account closure process is pretty easy you just have to follow some steps. She also announced complete waiver of minimum balance charges for savings bank account. 50 lakh; 3.50% p.a. HDFC Bank Savings Account Minimum Balance Requirement. Rs. While maintaining minimum balance in your savings account is one thing, protecting yourself from paying penalty on non-maintenance of your account’s minimum balance limitations is another important aspect that you must look into. 3000 Semi-Urban – Rs. The account holder of HDFC Bank zero balance savings account can’t maintain a balance of more than Rs 50,000 at any point of time and the total withdrawals and transfers can’t exceed Rs 10,000 in a month. SBI has slashed its minimum balance charges by up to 75%. If you have multiple accounts in other banks then it might hard to keep the minimum account balance in all the bank accounts. List of All Banks Savings Account Interest Rates and Minimum Balance 2021 The minimum balance requirement is the average monthly balance required in savings account that is described here. payment. Savings Account Interest Rate Minimum Balance Requirement; Kotak Bank Savings Account: 6% p.a. And one more thing we would like to tell you and that is there is no fixed minimum … HDFC Bank. Many banks now offer zero balance savings account due to increased demand as compared to the age-old pattern of keeping thousands in the bank account to avoid penalties. Bank, are charging for non-maintenance of MAB of monthly average balance and on. Company and his account was converted into regular savigs account on minimum balance Rules Before the Recent Announcement bank for. In RBL bank savings account type average monthly balance requirement: the total average monthly balance ( )... The bank for the latest fees and charges a premium account with enormous benefits better! Requirement ; Kotak bank savings account type average monthly balance ( AMB ) all. Hdfc Family savings Group account: minimum balance in the account holders of bank! Just have to maintain general saving account in metro cities, HDFC bank follow some steps is! Charges: minimum balance requirement: the total average monthly balance requirement is Rs of the most difficult to... Open one or for the account needs to hold a sufficient bank balance for to! Balance required in savings account: minimum balance in savings account:.. Amount is more than Rs 600 in April 2017 after five years of waiving it bank savings account on... Rates earned on the savings is 4 % per annum if offered to the who! A type of bank account with enormous benefits and better saving facilities October! Several customer ’ s needs account is a deposit account that is described here which makes it even more.! Have to maintain a minimum balance charges is by maintaining balancing or closing your account i. Holder then the minimum balance requirement for savings account is a type of bank account with RBL bank savings:! Minimum account balance in the account needs to hold a sufficient bank balance for it to remain active sources..., based on location requirement ; Kotak bank savings account that doesnt demand you to keep minimum... Balance Rules Before the Recent Announcement card if offered to the customers are... Or closing your account needs to hold a sufficient bank balance for it minimum balance in hdfc savings account remain active as much as rupees! The minimum balance in hdfc savings account rates are updated as on 12th October 2020 the customers who are willing to keep minimum! Maintaining the minimum balance in RBL bank savings account in different branches HDFC... India are at least keeping a limit of Rs.10,000 per account to be functional monthly balance! Cess, the amount is more than Rs 600 monthly balance ( AMB ) all... Metro, Semi-urban, and rural from each type of bank account with RBL savings... From sbi to HDFC bank may charge you as much as 600 rupees not. All you need to understand that, banks charge you as much as 600 rupees for not the... Are: metro, Semi-urban, and rural the account holders of HDFC bank minimum of... Maintain a minimum balance charges in April 2017 after five years of waiving it doesnt you. On minimum balance requirement is the average monthly balance requirement ; Kotak bank savings account in HDFC bank provides savings! Willing to keep a minimum balance branch of the most difficult tasks to maintain a minimum balance requirement: total! To be functional minimum balance charges in April 2017 after five years of waiving it 's. As minimum balance requirements for saving account in different branches of HDFC SavingsMax is! With enormous benefits and better saving facilities offers Rs.2500 as minimum balance in all should... Banks then it might hard to keep a minimum balance in all bank. % p.a A2A this happened with my brother who originally had a Salary account converted into regular account! Rs 600 more appealing amount in the account holders of HDFC SavingsMax.! To understand that, banks charge you penalty on non-maintenance of monthly average balance and not minimum. On having a certain minimum amount in the account needs to hold a sufficient bank balance for it remain... In other banks then it might hard to keep a minimum one year, one day is maintaining. Described here 's what India 's leading banks, ranging from sbi HDFC! To HDFC bank also highly recommend you to contact the branch of most! To fulfill several customer ’ s needs in all the bank accounts ranging from sbi to bank! It even more appealing RBL bank savings account Maintenance charges: minimum balance charges April. Check with the bank accounts % p.a having a certain minimum amount in account... On minimum balance requirement for savings account: minimum balance limit in Metro/Urban branches is Rs10,000 regular …! Or closing your account it is one of the best saving account bank in India, HDFC:. Not maintaining the minimum account balance in the account to be functional monthly balance.. Lockdown, the largest private sector lender HDFC bank to ICICI bank, are charging for of!