Savings Account

Opening a Savings Account with HDFC Bank is more than just building your savings — it’s about stepping into a rewarding banking journey. With seamless access to NetBanking, MobileBanking, BillPay, PayZapp and more, you can manage your money smarter and faster, right from day one.

To make your experience even more exciting, you can now earn rewards up to ₹2,000 by simply activating any 5 out of 10 key services within 30 days of opening your account. These rewards include vouchers from leading brands like Swiggy, JioHotstar, Ixigo, PVR, and Amazon Pay, giving you more value as you get started with digital banking.

This festive season, bring more joy to your celebrations with the Savings Account Onboarding Offer. Light up your Diwali with family get-togethers, enjoy movie nights this Dussehra or plan a special festive outing, with HDFC Bank offers to make these occasions more memorable. Celebrate togetherness, laughter, and traditions, while your banking rewards take care of the little indulgences.

Start your journey today with the HDFC Bank Savings Account — a simple step towards smarter savings and greater rewards.

T&C Apply.
Valid till 31st October.

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What is a Digital Savings Account?

A Digital Savings Account is a type of bank account designed to help you manage and grow your funds securely while earning a competitive savings interest rate. One of the key benefits of a Digital Savings Account is its high liquidity, allowing you to withdraw funds whenever necessary.

This account is tailored to encourage you to save money for various financial goals. You can conveniently use the funds in your Savings Account for expenses such as bill payments or shopping, facilitated through our Debit Card, NetBanking, or Mobile Banking services. Additionally, you can transfer money from your Savings Account to other bank accounts seamlessly via electronic payment systems, and withdraw cash at ATMs using your Debit Card.

HDFC Bank provides a diverse range of Digital Savings Account types to meet the unique savings requirements of different individuals, all while ensuring the highest levels of security and trust that we are known for.

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Digital Savings Account Eligibility

The following entities can open a Savings Account with HDFC Bank:

• Resident individuals (can open and operate the account solely or jointly)
  
  
• Members of Hindu Undivided Families (HUF)
  
  
• Minors above 10 years of age can open and self-operate a Savings Account and get access to ATM/Debit Card facilities.
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• Foreign nationals residing in India for more than 180 days are eligible to open a Savings Account.

Fees & Charges for Opening a Savings Account

Note that there are no particular fees you must pay for opening a Savings Account online. Depending on your Savings Account type, you may have to pay a minimum initial deposit amount. You must also keep in mind the following associated charges that can differ depending on your Savings Account type:

• Non-maintenance of account balance
  
  
• Duplicate passbook issuance
  
  
• Exhausting the number of free cash transactions
  
  
• Additional chequebook
  
  
• Debit Card replacement charges
  
  
• Debit return charges
  
  
• Standing instruction rejects
  
  
• Fund transfers at bank branch
  
  

You can find the complete schedule of Savings Account charges here.
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Benefits of an Digital Savings Bank Account

Here’s why a Digital Savings Account continues to remain the preferred tool for placing your surplus funds:

• High Liquidity
  
  You can withdraw your Savings Account funds at will. A Debit Card allows you to withdraw cash from ATMs at your convenience.
  
  
• Facilitates Digital Transactions
  
  Your Savings Account can facilitate digital payments by way of Debit Cards, NetBanking, or UPI. Digital banking platforms allow electronic fund transfers between accounts.
  
  
• Automated Debits
  
  You can enable the auto-debit facility in your Savings Account for various investments, utility bill payments, and loan repayments via Equated Monthly Installments (EMIs).
  
  
• Insured Savings
  
  A Savings Account offers a secure way of placing money. Also, your account deposits are insured by the RBI-owned Deposit Insurance and Credit Guarantee Corporation (DICGC) for up to ₹5 lakh.
  
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Things to Keep in Mind When Opening an Digital Savings Account with HDFC Bank

When opening a Digital Savings Account, you must consider the following factors:

• Minimum Initial Deposits
  
  You may have to pay a certain specific amount as a deposit to activate your Digital Savings Account. The amount can vary depending on the Savings Account variant.
  
  
• Average Monthly Balances
  
  You may have to maintain a specific balance in your Savings Account every month. Otherwise, the bank will levy penalties for non-maintenance of account balance.
  
  
• Limits on Transactions
  
  The bank may impose limits on the frequency and value of transactions for your Digital Savings Account. Exceeding those limits can result in penalties.
  
  
• Fees & Charges
  
  Ensure you peruse the schedule of fees and charges associated with your Savings Account variant. Such information is readily available on the bank website.

HDFC Bank Savings Account FAQs

• What is a Savings Account?
  
  A Savings Account is a bank account opted for by many who wish to save a certain part of their earnings. It is a type of bank account wherein you can park your funds, earn interest on the same, and also withdraw money at any time. It provides the convenience of liquid funds.
  
  
• How can one open a Savings Account online?
  
  The online Savings Account opening process is simple and easy. Click here to begin your online bank account opening process, right from the comfort of your home. At HDFC Bank, you can also opt for the Video KYC (Know Your Customer) facility to avoid an in-person visit to the bank branch.
  
  
• What are the different types of Savings Accounts?
  
  There are different types of Savings Accounts one can opt for at HDFC Bank, such as Regular Savings Account, DigiSave Youth Account, Women's Savings Account, and Senior Citizens Savings Account, to name a few. The saving bank account variants are designed to meet the needs of our varying customer groups.
  
  
• What is the minimum balance requirement in a Savings Account?
  
  The minimum balance requirement or average monthly balance (AMB) requirement varies with the type of Digital Savings Account chosen by the customer as well as the location of the account holder. For instance, a minimum initial deposit of Rs 10,000 for metro/urban branches, Rs 5,000 for semi-urban branches, and Rs 2,500 for rural branches is required to open an HDFC Bank Regular Savings Account.
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• What is the interest rate on a Savings Account?
  
  With HDFC Bank, you can avail of interest rates of up to 2.50% for across All Account Balances.

Note:

• Savings Account interest will be calculated on the daily balances maintained in your account.
  
  
• Savings Account interest will be paid at quarterly intervals.

• How can one transfer money from a Savings Account?
  
  There are a couple of ways to transfer money from your saving bank account. Firstly, you can use a banking mobile app to transfer funds almost instantly, from your Digital Savings Account to that of another individual. Then there is the option of using NetBanking facility to transfer money quickly and easily via the digital mode. You also have the option of visiting a bank branch in person and transferring funds from your bank account.
  
  
• How can one choose the best savings bank account?
  
  Choosing a Savings Account that suits your individual needs is extremely important. At HDFC Bank, you can compare different saving bank account variants available to our customers and pick the one that best suits your requirements. The main things to consider are the interest rates on offer, the minimum monthly balance requirements, and various requirements pertaining to cash withdrawal.
  
  
• What are the documents required to open a Savings Account online?
  
  Listed below are the documents one must keep handy when applying for an HDFC Bank Savings Account:
  
  

  > Identity Proof (driver’s license, passport, etc.)

  > Two recent passport-sized photographs

  > Form 16, which is a certificate issued by the applicant’s employer, asserting that TDS has been deducted from your salary. This is needed here if the applicant does not have a PAN card.

  > PAN card

  > Address Proof (driver’s license, passport, etc.)

Here is a list of acceptable identity/address proof documents:

  > Valid Passport

  > Voter's Identity Card issued by the Election Commission of India

  > Valid Permanent Driving License

  > Aadhaar

  > Job card issued by NREGA duly signed by an officer of the State Government

  > Letter issued by the National Population Register containing details of name and address

Online account opening can be easily done through Aadhaar, PAN Card, and an operational mobile number.

Open a Savings Account Online with HDFC Bank to enjoy Exclusive Benefits.

What is a savings account? A Savings Account is a deposit account you can open with a bank. It allows you to store money securely while earning interest on the balance. 

Start your banking journey with HDFC Bank's Savings Account, explore a wide range of features & benefits with exclusive deals available with different account variants. 

HDFC Bank's Savings Account encourages savings by providing 24x7 access through our NetBanking, Mobile app, vast network of branches and ATMs. Enjoy the perks of our Debit Cards, including lifestyle and healthcare benefits. 

Additionally, HDFC Bank simplifies the account opening process with Video KYC, allowing you to verify your identity remotely through secure video interactions. 

So why wait... Apply now for an HDFC Bank Savings Account to make the most of your savings. 

*Regular Savings, Women's, SavingsMax, Senior Citizens & DigiSave Youth account can be opened digitally. 
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