A savings account is the most basic type of deposit account kept with a bank or NBFC, allowing a consumer to deposit money and receive interest on it.
A savings account, which is simple to create and administer, offers the consumer a secure place to save their hard-earned money while earning a little return on their deposits. There are numerous types of savings accounts available to meet the demands of each consumer.
HDFC Zero Balance Account offers quite a few financial savings account programmes, each with its very own set of blessings and capabilities that may be accessed quickly and easily. The financial savings account comes with probably the greatest banking capabilities and services.
Customers can also evaluate and choose the account that best meets their needs, and a private relationship manager is available to assist them at all times.
Eligibility of HDFC Zero Balance Savings Account
A person must be employed by a company that has a salary account with HDFC Bank.
- It is not permissible to have any other bank account with HDFC Bank.
- A BSBD account cannot be held with any other bank.
Documents required for HDFC Zero Balance Savings Account
Along with a duly filled application form for HDFC Savings Account, applicants will be required to submit proof of identity, proof of address and proof of income. The list of documents required to apply for this savings account is as follows:
- ID Proof- Passport/ PAN Card/ UID/ DL / Voter Card
- Income Proof
- Address Proof- Copy of Passport/ Fixed Line Bill/ Electricity Bill/ UID/ Bank Passbook of a PSU bank
- PAN Card
For the management of savings bank accounts, HDFC Bank levies a variety of fees and charges. Every month, a minimum amount must be maintained in one’s account, but this varies per bank. Furthermore, the interest rate on your savings, cash deposits, check clearance costs, and the amount of withdrawals permitted each month vary from bank to bank.
Types of HDFC Savings Accounts
The following savings account schemes are available from HDFC Bank :
- SavingsMax Account
The computerised sweep out facility allows you to earn more money on cash while it sits idle.
- Regular Savings Account
- Women’s Savings Account
It gives a complete banking answer for women, catering to their monetary, lifestyle, and funding necessities.
- Older Citizens Account
- Family Savings Group Account
It is a one-stop shop for your whole circle of relatives’ banking needs, with all the blessings of an unmarried account.
- Basic Savings Bank Deposit Account
It is a zero-stability financial savings account that consists of a loose ATM card (debit card) and satisfies all your banking needs.
- Institutional Savings Account
It is accessible to trusts, societies, associations, clubs, NGOs, and other comparable organisations.
BSBDA Small Account
Includes bulk ATM card which allows you to use HDFC’s extensive ATM network across India for all your banking needs.
Features of HDFC Zero Balance Savings Account
- There is no need to make a deposit to open the account.
- No-fee charge account credit for transactions in remote locations.
- There aren’t any fees concerning reactivating an inactive account.
- There aren’t any laws on the number of money that may be deposited in coins.
- Money withdrawals are free for the primary four instances each month, so they value Rs. fifty + tax per transaction.
- The HDFC bank account theme provides numerous alternatives to satisfy the requirements of varied purchasers in a very specific manner.
- It gives a whole banking answer that lets the patron and his or her own circle of relatives enjoy one unwed account.
- With just one money savings account, purchasers will experience the full lot, from health, funding, etc., to traditional banking solutions.
- We’ve got the widest ATM networks throughout the u. s. to satisfy all of your banking needs.
- Email account statements on a month-to-month basis.
- A “Money Maximizer” (sweep-out) feature offers financial savings debts.
While it has its blessings, a Best Zero Balance Savings Account might also have an effect on your monetary situation, mainly when you have an unanticipated monetary emergency that necessitates several withdrawals.
As a result, having a savings account with minimal stability is probably more advantageous. By opening an HDFC Bank minimal stability Savings Account, one can benefit from enticing reductions and incentives, as well as quick mortgage access and coin transfers.