HDFC Savings Account Requirements, Hdfc Savings Account Opening
This guide's paragraph covers everything you need to know about the "HDFC Savings account requirements."
When considering opening a bank account, the first question that usually comes to mind is, "What do I need to open the account?" This is even before you consider how to open it.
So, while having a bank account is necessary, there is an underlying parameter that must be met first; thus, the bank account requirements.
It is no secret that the Housing Development Finance Corporation Limited (HDFC) operates various savings accounts at its various branches.
And, while these savings accounts are open to all, the HDFC savings account requirements must be met before registering for the account.
HDFC SAVINGS ACCOUNT REQUIREMENTS
The following are the requirements for an HDFC Savings account:
- Proof of identity: The applicant may submit any of the following identification documents: a PAN card, a passport, or a voter ID.
- Proof of permanent residence: Any of the documents listed below can be used; Utility bill (nothing older than three months) or tenancy agreement letter
- If a PAN card is not available, the applicant must complete Form 16.
- two passport-sized photographs (recently taken)
- Proof of employment (if applicable); an applicant may submit a certificate of employment or an introductory letter from the employer.
- Fill out the opening form
- For urban, semi-urban, and rural branches, the minimum initial deposit is Rs 10,000, Rs 5,000, and Rs 2,500, respectively.
WHAT IS THE MINIMUM BALANCE REQUIREMENT FOR HDFC SAVINGS ACCOUNT
The following are the minimum balance requirements for the various HDFC Savings accounts:
The minimum monthly balance requirement for the HDFC Regular Savings account is Rs 10,000, Rs 5,000, and Rs 2500 for urban, semi-urban, and rural branches, respectively.
The Specialé Gold Account has a minimum balance requirement of Rs 1,000,000 or a Rs 4 Lakhs FD relationship.
The Specialé Platinum Account has a balance of Rs. 3,00,000 or an FD relationship of Rs. 8 Lakhs.
The Super Kids Savings Account requires a quarterly minimum balance of Rs 1,000,000.
The HDFC SavingsMax Account requires an average monthly balance of Rs. 25,000 or an FD relationship of Rs 1.50 lakh in urban areas or Rs 1 lakh in semi-urban and rural areas.
The Women's Savings Account has a minimum balance requirement of Rs. 10,000 and Rs. 5,000 for urban and semi-urban/rural locations, respectively.
The DigiSave Youth Account requires a monthly average balance of Rs. 5,000 in metro areas and Rs. 2,500 in semi-urban/rural areas to be maintained.
For all branches, the Senior Citizen's Account has an average monthly balance of Rs. 5,000.
A minimum monthly balance of Rs. 1000 should be kept in the Kids Advantage Account.
The Institutional Savings Account, Basic Savings Bank Deposit Account (BSBDA) & BSBDA Small Account, and Government Scheme Beneficiary Savings Account have no minimum balance requirement.
The Saving Farmers Account has a half-yearly balance of Rs. 2,500.
CAN A SAVINGS ACCOUNT BE USED FOR SALARY
Yes, HDFC savings accounts can be used to pay off debts. Regardless, salaried employees can apply for a Salary Account with HDFC from the comfort of their own homes and reap the benefits of using it. There are some exceptions to the Salary account. These are as follows:
The applicant must determine whether or not their company/institution has a salary account relationship with HDFC.
The individual must not have any other HDFC Bank accounts.
Furthermore, the individual cannot have a BSBD Account with another bank.
To learn more, call HDFC customer service at 1800 202 6161 / 1860 267 6161 (local) or +9122 61606160. (international)
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