If you are an HDFC Bank account holder, the two methods for opening a savings account are online and offline.
Documents required for creating an HDFC bank savings account
- Identity proof (passport, driver’s licence, voter’s ID card, etc.)
- Proof of address – Passport, driver’s licence, voter identification card, etc.
- Form 16 of the PAN card (this is required if PAN card is not available)
- Two recent passport-size pictures
- Certificate of Qualification (Optional)
HDFC Bank account opening online: How to Create an HDFC Savings Account?
Step 1: Visit HDFC Bank’s official website: hdfcbank.com.
Step 2: From the ‘Select Product Type’ column, select ‘Accounts.’
Step 3: Select ‘Saving account’ from the ‘Select product’ menu once more.
Step 4: Select ‘apply online.’
Step 5: Determine if you are an existing or new customer, and then authenticate yourself by entering the required information.
Step 6: Fill in the required details like your name, contact information, address, and so on.
Step 7: Verify all of the details with documents such as a PAN, an Aadhaar card, or other documents as requested by the bank.
Step 8: A bank executive will verify all your documents.
Step 9: Following the successful verification of your KYC documents, you will be given a welcome package containing a debit card, PIN, and cheque book.
Step 10: Once your account has been activated, you can register your mobile phone number and use the chequebook and debit card to conduct financial transactions.
HDFC account opening: How to open an HDFC savings account offline?
Step 1: Go to the nearest HDFC Bank branch with the original and copies of your KYC documents.
Step 2: Complete the application form by entering all of the essential information.
Step 3: Attach a photocopy of each of the listed documents.
Step 4: After you fill out the form, hand it in at the counter.
Step 5: A bank executive will check the given information.
Step 6: Your HDFC savings account will be enabled after successful approval.
Minimum balance required in HDFC Bank
A minimum initial deposit of Rs 10,000 is required for urban branches, Rs 5,000 for semi-urban branches, and Rs 2,500 for rural branches to start a savings regular account.
A minimum average monthly balance of Rs 10,000 is required for urban branches, Rs 5000 for semi-urban branches, and an average quarterly balance of Rs 2,500 or a fixed deposit of Rs10,000 for a minimum duration of 1 year 1 day for rural branches.
Advantages of having a savings account in HDFC Bank
- Free passbook: Individuals who open a savings account receive a free passbook.
- Simple transaction: You can utilise your savings account to make payments through numerous Net Banking services. You can even use this account to pay for utilities like power, phone, and water.
- Debit Card and ATM Access: Along with your account, you will receive an ATM/Debit card that will allow you to access any of the bank’s ATMs.
- Mobile and online banking: With net banking, you may keep track of all your bank statements as well as send and receive money. And you can do it all from your computer or even your phone.
- Free cash and cheque deposits at any branch: The banks will also provide you with standard account services, including services such as cash and check deposits, which can be made at any bank location.
- Payment Gateway: You can make online payments with your ATM/debit card.