How to Check HDFC Bank Account Minimum Balance. HDFCBank Minimum Balance For Savings Account. HDFC bank saving account interest rates 2022
The HDFC bank, a private and famous bank in India, offers a variety of saving accounts. To help customers manage their finances efficiently with a secure financial institution. Millions of Indian residents have multiple or single accounts with HDFC to serve different purposes in their daily livelihood. HDFC provides easy ways to open a savings account through online facilities or visiting the bank branch. Each account holds different purposes based on the user’s needs.
The HDFC, like other major banks, has enacted the minimum balance feature for some saving accounts. The user must maintain the minimum balance set for a particular account by the HDFC account. The HDFC bank is quite strict with the minimum balance rule as it provides penalties for customers failing to offer sufficient minimum balance. For example, for the Metro and Urban branches, the HDFC bank requires the clients to maintain a minimum balance of Rs 10,000/-. The semi-urban branches also have their fair share of the minimum balance set by the HDFC bank.
Types of HDFC Bank Saving Account
Saving accounts are legal and operative accounts open for various purposes. Some accounts are used for fixed deposits, daily transactions, salary accounts, investments, and more. The HDFC bank offers different saving accounts as follows:
- Saving Max Account
- Regular saving account
- Women saving account
- Kids advantage account
- Senior citizen account
- A family saving group account.
- Basic saving bank deposit account
- Institutional saving account
- BSBDA small account.
HDFC bank saving account minimum balance and interest rates
How to Calculate Average Monthly Balance HDFC
Monthly Average Balance HDFC: To avoid any penalties, HDFC account holders should ensure their account has the required minimum balance. The HDFC calculates the balance based on MAB (Monthly Average Balance). Each amount is calculated differently, as shown in the table below:
HDFC Bank Monthly Balance Calculations
|Account Balance||For Days||Monthly Average Balance (MAB)|
Requirements for Checking Minimum Balance in HDFC
To avail the minimum balance, the HDFC customer must provide the following:
- Login credentials: username, HDFC customer ID & Password
- HDFC Bank Account Details.
Procedure to Check HDFC Minimum Balance Through HDFC APP
- HDFC customers should first download and launch the application on their devices.
- Register your details to access login details and proceed.
- However, for registered users, enter your login detail user ID and password to continue.
- Next, click the tab “balance” >”show account details options.
- Proceed to the “Required Monthly Average Balance” option to get your amount.
- The system will display the information on your screen.
HDFC Minimum Balance For Savings Account
Minimum Balance Check Using HDFC Net Banking Portal
Open the HDFC bank net banking website page.
Select the login tab
Enter your user ID and HDFC net baking password
On the page
Select the tab “Account summary” on your menu
Next, select the “balance” button on the screen
Now, click the “Account number” option to help you view account information on the page.
The data will contain
“Monthly Minimum Balance” for your HDFC account.
For users without online HDFC platforms, they can visit the bank branch for minimum balance enquiry. The bank also provides simple features such as the toll-free number to the customer care desk or SMS methods.
Is there any penalty for users who don’t maintain the minimum balance on the saving accounts?
Yes, HDFC bank charges a penalty for eligible customers with accounts that should maintain a minimum balance. Every account has a specified minimum balance set by the bank.
Does all HDFC bank saving account have the minimum balance feature?
No, some accounts such as Basic Saving Bank Deposit accounts, Institutional Saving account, and BSBDA Small accounts don't require any minimum balance.
How can I check my HDFC minimum balance?
The HDFC bank user can use the Internet banking platform, mobile banking app, and visiting the bank are the best ways to acquire your minimum balance results.