What is the minimum balance in HDFC regular savings account?

HDFC Regular Savings Account

What are the benefits of regular savings account in HDFC?

Top 7 Features of a 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.

Is HDFC regular savings account zero balance?

Some variants of HDFC Bank Savings Account also offer features like unlimited cash withdrawals at ATMs and zero-balance maintenance requirement, which further adds to the appeal of a Savings Account.. *Regular Savings, Women's, SavingsMax, Senior Citizens & DigiSave Youth account can be opened digitally.

Which type of account in HDFC is best?

What is regular saving account?

The Regular Savings Account can be opened at the bank's access points and your doorstep. This account can be used to keep funds secure, withdraw cash, deposit money and perform easy remittances, besides a host of other benefits.

What if HDFC minimum balance is not maintained?

For insufficient balances in standard savings accounts held at HDFC Bank's metro, urban, and semi-urban branches, there is a fine of between Rs. 150 and Rs. 600 (excluding of taxes).16-Sept-2022

What is an disadvantage of a regular savings account?

Three disadvantages of savings accounts are minimum balance requirements, lower interest rates than other accounts/investments, and federal limits on saving withdrawal. If you're fortunate enough to have extra money for long-term goals, first, pat yourself on the back!31-Mar-2020

Which bank is best for regular saving account?

Best Zero Balance Savings Account 2022

Featured Partners.
Best Zero Balance Savings Account.
IDFC FIRST Bank Pratham Savings Account.
Equitas Selfe Savings Account.
Axis Bank PRIME Savings Account.
Indus Delite Savings Account (IndusInd Bank)
Kotak 811 Full KYC Account (Kotak Mahindra Bank)

Is a regular savings account good?

Savings accounts can be safe places to keep the money you don't intend to spend right away. These accounts are useful when planning for short-term needs, such as an emergency fund, and longer-term goals like stashing away cash for a down payment on a home.22-Sept-2022

Which bank has lowest minimum balance?

IndusInd Bank - Indus Online Savings Account Any Indian citizen above the age of 18 years is eligible to open this savings account with no minimum balance. Transfer funds for free via NEFT, IMPS, and RTGS. Avail of WhatsApp banking services and a free passbook, chequebook, and debit card.

What is the difference between normal bank account and zero balance account?

In a regular savings account, banks levy a penalty for not maintaining the minimum account balance, but in a zero balance account, there is no penalty as you are not required to maintain a minimum balance. (subject to terms and conditions )17-Oct-2022

How do I open a regular savings account?

7 steps to take to open a savings account

Choose how to apply.
Gather your identification.
Provide contact details.
Select a single or joint account.
Accept the terms and conditions.
Submit your application.
Fund your new account.

What are the four types of savings?

Four kinds of savings

The Emergency Fund. This is your "Do Not Touch"fund.
The "I can touch"fund. This is for things you know are going to happen, but just not every month.
"I know what I want, I just need to pay for it"fund. This kind of savings is for a specific goal or purchase.
Long-term savings.

What is the limit of HDFC saving account?

What are the disadvantages of HDFC Bank?

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.16-Jan-2016

What is the limit for a regular savings account?

Banks and credit unions typically don't have account maximums, nor are there any laws limiting how much you can keep in a bank account. So, you can deposit as much as you want into a savings account. However, one thing you should be aware of is FDIC insurance limits.09-Dec-2022

What is difference between regular saving account and savings account?

A savings account is most suitable for people who are salaried employees or have a monthly income, whereas, Current Accounts work best for traders and entrepreneurs who need to access their accounts frequently. Savings accounts earn interest at a rate of around 4%, while there is no such earning from a Current Account.

Are regular savings accounts tax free?

Any interest from savings that is over your Personal Savings Allowance or Starting Rate for Savings is taxed. The amount of tax depends on your income.

Is HDFC debit card free?

Rs. 150 + applicable taxes. **For HNW Customers (Classic, Preferred & Imperia), the Debit Card will be free, as long as the customer is part of the respective program. For Corporate Salary customers, the charges will be as per corporate eligibility, as long as the customer is part of the respective corporate.

What happens if minimum balance is not maintained for 1 year?

You can be penalized for not keeping the minimum balance. There is no limit on the penal charges that a bank will charge for the non-maintenance of the minimum balance. The charges have to be approved by the bank's board. Charges will vary from bank to bank and from branch to branch as well.25-Feb-2022