HDFC Bank is the largest bank in India by market capitalization (as of March 2020). It was established in 1994, and its head office is in Mumbai, India. HDFC Bank commenced its operations in January 1995 as a scheduled commercial bank. HDFC Bank was the first bank in the private sector to receive in-principle approval from the Reserve Bank of India (RBI).
Like other banks, HDFC Bank provides facilities to its customers to open various types of savings accounts as well as provide home loan, education loan, car loan etc. Today we are giving you complete information about opening an online account in HDFC Bank. So let us know how to open an account in HDFC Bank? About the documents and application form and fees required for opening an account.
Table of Contents
- HDFC Bank Savings Account Types
- Savings max Account
- Mahila Saving Account
- Regular Saving Account
- Senior Citizen Savings Account
- Kids Advantage Account
- Institutional Savings Account
- Basic Savings Bank Deposit Account
- Savings Farmer Account
- Digisave Youth Account
- HDFC Savings Account Benefits
- HDFC Bank Savings Account Interest Rates
- HDFC Bank Savings Account Minimum Balance
- HDFC Bank Account Charges
- HDFC Savings Account Opening Eligibility
- Documents for opening HDFC Savings Account (HDFC Savings Account Opening Documents)
- How to Open Online Account in HDFC Bank
HDFC Bank Savings Account Types
Savings max Account
Under the Savings Max account, you can avail higher interest rates along with the benefit of automatic sweep-in facility. This account provides the account holder with a Lifetime Platinum Debit Card along with Rs 1 lakh. Provides Accident Claim cover of Rs. Apart from this, you can withdraw unlimited cash from ATM.
Mahila Saving Account
As the name suggests, this account is especially designed for women. Under this account, the account holder gets various types of benefits like cashback on every Rs 200 spent, about 2% lower interest rate on loans on two-wheelers etc.
Regular Saving Account
This savings account has been designed by the bank with the aim to meet all the banking needs. You can pay your bills in a secure and convenient manner through BillPay Facility. Under this, the bank provides you the facility of Depositional Locker.
Senior Citizen Savings Account
This account is especially designed to encourage savings among senior citizens. You can avail the benefit of preferential rates on fixed deposits. Apart from this, you get the facility of hospitalization reimbursement cover during accident of Rs. 50,000 per year.
Kids Advantage Account
This account of HDFC has been created with the purpose of collecting funds to meet the needs of children in future. You can use only limited funds through this account. In this, the bank also provides free education insurance cover of Rs 1 lakh. ATM/International Debit Card is provided with parental permission.
Institutional Savings Account
This account is specially designed for Government Organizations and Institutions. Through this account, you are provided with the facility of making fees, donations, corporate payments, payment of salaries, vendor payments etc. as well as free cash and check deposits at a wide network of branches and ATMs across the country.
Basic Savings Bank Deposit Account
This is a zero balance saving account of HDFC Bank. On this account the bank provides you a free Rupay Debit Card with 4 free cash withdrawals per month. The most important thing is that even children above 10 years of age can open this account and no initial payment is required to open this account.
Savings Farmer Account
This account is specially designed for farmers. Under this account, you can avail the benefit of free bill pay facility, apart from this, facility of doing 5 free transactions with free debit card in HDFC Bank ATM is provided.
Digisave Youth Account
This savings account is mainly designed for the age group of 18 to 25 years. In this type of account, you are provided special benefits on Digital Banking, Cards, Loans & Movies, Food, Recharge, Travel, etc.
HDFC Savings Account Benefits
The benefits of saving account in HDFC Bank are as follows –
- A safe form of investment – Savings in HDFC Bank savings account are considered safe, as the money is not subject to instability.
- Ease of Transactions – Any account holder can easily use their HDFC Savings Account to send and receive payments. Apart from this, instead of cash, you can use net banking, ATM or debit card.
- Bill Payment – HDFC Savings Account can avail the benefit of Automatic Bill Payment facility through BillPay. Additionally, you can schedule transactions by maintaining sufficient balance in your account.
- Net Banking Facility – You can pay bills after online shopping through HDFC Net Banking facility. Apart from this, you can invest online without going to the branch to withdraw money.
- Mobile Banking Facility – With HDFC Mobile Banking facility, you get the benefit of money transfer facility as well as the facility to talk to the bank executive at any time to resolve any kind of problem.
- Debit Cards – HDFC Bank offers many debit cards with a variety of features.
- Cross Product Benefits – HDFC Bank offers its savings account holders a waiver on the annual maintenance fee of the demat account for one year. If an HDFC customer opens an HDFC Demat and Trading account, he is exempted from paying 1 year of maintenance fee.
HDFC Bank Savings Account Minimum Balance)
HDFC Bank Account Charges
The charges prescribed by HDFC Bank for operation and transactions of savings account are as follows-
HDFC Savings Account Opening Eligibility
- The applicant must be an Indian resident.
- The age of the applicant should be 18 years or above except in case of minor savings account.
- Consumers will have to submit proof related to their identity and residence.
- Once the bank approves the documents submitted, the applicant will have to deposit an initial fee depending on the savings account type.
Documents for opening HDFC Savings Account (HDFC Savings Account Opening Documents)
- Valid Passport
- Valid and Permanent Driving License
- Voter ID Card
- PAN Card
- Life Insurance Premium Receipt
- Legitimate government organization issued documents with photo
- Aadhar Card
How to Open Online Account in HDFC Bank
- To open an online account in HDFC Bank, first of all you have to visit its official website https://www.hdfcbank.com/ or click on this direct link.
- Now a new page will open in front of you, here you have to click on the option of Open Instantly.
- Now a new page Let’s Get Started will open, here after entering your mobile number, enter the captcha code and click on Proceed.
- Now an OTP will come on your mobile, enter which and click on Proceed.
- After this, a new page KYC Document will open, here you will see 4 options: Aadhar Card, Passport, Driving License and Voter ID. After selecting any one of these and clicking on Agree, you will have to click on Proceed.
- After this, to verify your Aadhar card, you will have to click on Aadhar OTP Authentication and click on Request verification code, after that enter the Aadhar OTP, tick on confirm and click on proceed.
- After this, in Select Account Type, click on the type of account you want to open like saving account, corporate salary account and current account for individual.
- In the next step you have to select your state and city, for this you have to select your nearest branch and click on Continue and proceed further.
- Now you will have to enter information related to your personal details, first of all you will have to upload your photograph, your name, email ID and date of birth.
- In the next step, after entering the information about your marital status, you will have to enter your father’s name and mother’s name and enable the three options given below.
- Now you will have to enter the PAN number and upload the photo of the PAN card, after entering all the personal details, click on Proceed.
- Now you have to fill your address details, at the top you will get 4 options in Residence type, whether the house you live in is family owned or given by a company, is your own house, or do you live on rent. You have to select the type of your residence.
- After this, you have to enter your residence i.e. home address like house number, road number, landmark, state, city, pincode etc.
- After this you will get 2 options Mailing and Permanent. If your address is Permanent, then you should tick it, enter the mail address below and click on Continue.
- After this you will have to enter information related to your business, here you will get different types of options, select one of these and click on Continue.
- After this, you will have to enter the name of the nominee, his age and relationship with you, date of birth and address of the nominee in Nominee Details and click on Continue.
- After this, after selecting Country at the top of Extended KYC, you will have to write the name of that state in State of birth.
- Now a new page will open in front of you, here you will see that your account has been opened.
- You will get your Account Number, Customer ID and IFSC Code here. You can transfer money to your account online through Add Money.