HDFC Bank provides exceptional services to its customers. The bank has scheduled fees for the services rendered, which is quite reasonable. Some of the charges are compulsory, and you cannot prevent paying these fees. But some penalties due to your negligence in managing your finances can be avoided by being a bit careful with money management. Read on to understand the HDFC Bank Charges and tips to avoid the charges for better finance management.
HDFC Bank is one of the leading private-sector banks in the country. The bank provides a wide range of products and services designed for both retail and corporate customers. The Bank offers various innovative products, a robust digital platform, and efficient banking solutions, ensuring convenience and trust for its customers.
HDFC Bank has curated several charges that are both service-related as well as product-related. Some of the common types of HDFC Bank Charges you should be aware of for efficient financial management are:
AMB Charges in HDFC Bank refers to the penalty imposed on your account for non-maintenance of the average minimum balance stipulated to the category of SB or Current Account you have chosen to open.
Account Closure Charges
If you choose to close your account for any reason, the bank will levy account closure charges depending on the period for which your account was active. If the account is closed before 14 days from the date of opening the account, the bank will not collect any charges. Thereafter if you close the account, charges will be applied.
Demand Draft Cancellation/Revalidation
If you have not been able to encash a demand draft before the validity period and intend to either cancel or revalidate the demand draft, you will incur charges as stipulated by the Bank. The charges depend on the amount of the demand draft.
If you have forgotten your IPIN and need regeneration, you can place a request for regeneration with HDFC Bank. The bank will regenerate the IPIN and send it to your contact address through a tamper-proof medium. The bank collects charges for this service which is Rs. 100/- per instance at present.
The bank will provide a passbook at the time of opening a Savings Bank Account free of cost. If you need a duplicate passbook, you will have to pay Rs. 100/- per instance.
Cheque Dishonour charges
If you have issued a cheque that is returned unpaid due to insufficient funds in the account, you will be liable for a penalty in the form of cheque dishonour charges. Similarly, if you have deposited a cheque into your account, which is returned for want of funds, you will be liable for inward cheque returned charges.
Transaction Decline Charges
If you use your debit card at any bank ATM across the country and the globe and as well as for POS transactions and the transaction is declined due to insufficient funds, the bank will penalise you for not maintaining sufficient balance in the account.
HDFC Bank charges a fee for various transactions like cash withdrawals at other Bank ATMs beyond the free limit, cash handling charges for deposits of cash beyond the free limit, cheque bounce charges, etc. These charges may seem petty but on consolidation, you will be surprised to know how much your savings have been drained. Here are some tips to avoid these charges.
- Keep a close watch on the balance in your account to avoid instances of cheque, ECS, or NACH returns for want of funds.
- Plan your cash transactions to be within the free limit in a month,
- Use electronic modes for transactions as far as possible.
- Opt for e-statements which come free and are also easy to preserve.
- Limit your transactions to the home branch as far as possible.
- Negotiate on processing charges with your Bank if you are availing a loan.
- Use HDFC Bank ATMs as for as possible for unlimited free transactions.
HDFC Bank Savings Account Opening Charges
Intending to open a Savings Account in HDFC Bank? Get information about the HDFC Bank account opening charges and the minimum balance requirements for different categories of HDFC Bank Savings Account.
|Type of Account||Account Opening Charges|
|Regular Savings Account||Urban/Metro Areas: Rs. 10000 Semi-Urban Areas: Rs. 5000 Rural Areas: Rs. 2500|
|Savings Max Account||Rs. 25000 (Average Monthly Balance)|
|Women’s Savings Account||Urban/Metro Areas: Rs. 10000 Semi-Urban Areas: Rs. 5000 Rural Areas: Rs. 2500|
|Senior Citizens’s Savings Account||Rs. 5000|
|DigiSave Youth Account||Urban/Metro Areas: Rs. 10000 Semi-Urban Areas: Rs. 2500 Rural Areas: Rs. 2500|
|Premium Salary Account||Zero|
|Premium Salary Account with Milennia Debit Card||Zero|
|Regular Salary Account||Zero|
|Defence Salary Account||Zero|
|Government Salary Account||Zero|
|Family Salary Account||Zero|
HDFC Bank allows 3 free transactions. The cash withdrawal transactions done at HDFC ATMs beyond the limit carry a fee whereas the non-financial transactions done at HDFC Bank ATMs do not attract any fees. The HDFC Bank ATM withdrawal charges beyond the limit are given below:
|Cash Withdrawals (Financial Transactions) beyond the limit||Rs. 21 + GST for each instance|
|Balance Enquiry (Non-Financial Transaction) beyond the limit||Rs.8.50 + GST for each instance|
HDFC Bank has various charges scheduled for maintaining Demat Accounts. The charges are linked to the type of Demat Account preferred. The list of HDFC Bank Demat Account Charges is given below:
|Demat Account Type||Annual Maintenance Charge from 2nd year onwards||Special Pricing as per Managed Program-Debit/Pledge Txn Charges||Standard Charges Debit/Pledge Transactions|
|Infinite/Imperia||Nil||Minimum Rs. 30/- or 0.3% of the transaction value with a maximum of Rs. 4999/-||Minimum Rs. 30/- or 0.4% of the transaction amount with a maximum of Rs. 4999/-|
|Preferred||Zero in case of 1 transaction per annum or Rs. 300/-||Minimum Rs. 30/- or 0.3% of the transaction value with a maximum of Rs. 4999/-||Minimum Rs. 30/- or 0.3% of the transaction value with a maximum of Rs. 4999/-|
|Classic||Rs. 250 in case of 1 transaction per annum or Rs. 500||Minimum Rs. 30/- or 0.3% of the transaction value with a maximum of Rs. 4999/-|
|Prime||Rs. 700||Minimum Rs. 30/- or 0.3% of the transaction value with a maximum of Rs. 4999/-|
|Standard||Rs.750||Minimum Rs. 30/- or 0.3% of the transaction value with a maximum of Rs. 4999/-|
HDFC Bank does not charge for NEFT outward transactions routed through online modes. The HDFC NEFT Charges for outward transactions routed through HDFC Bank branches are given below. The bank has separate charges for Senior Citizens.
|Up to Rs. 1.00 lac||Rs. 2 + GST for General Public Rs. 1.8 + GST for Senior Citizens|
|Above Rs. 1.00 lac||Rs. 10 + GST for General Public Rs. 9 + GST for Senior Citizens|
The bank levies not charges for NEFT inward transactions
For Rs. 2.00 lacs and above- Rs. 15+ GST for General Public and Rs. 13.5 + GST for Senior Citizens
HDFC Bank also provides an IMPS facility for fast funds transfer. The charges stipulated for IMPS transactions initiated through the bank branches are given below. However, for transactions done through digital channels, the bank does not collect any charges. Similarly, the bank does not collect charges for IMPS inward transactions.
|Up to Rs. 1000||Rs. 3.50 + GST|
|Above Rs. 1000 up to Rs. 1.00 lac||Rs. 5 + GST|
|Above Rs. 1.00 lac up to Rs. 2.00 lac||Rs. 15 + GST|
HDFC Bank Charges : FAQs
There are no charges for statements sent to the email address of the customer. For physical copies of statements issued, the bank charges Rs. 100/- per instance.
The bank does not collect charges for issuing balance certificates.
The bank charges Rs. 100/- for a particular cheque and Rs. 200/- for a range of cheques. The service is free if done on online channels. For Senior Citizens, the stop payment charges for a particular cheque will be Rs. 90/- and for a range of cheques it will be Rs. 180/-
The bank charges Rs. 40/- for the general public and Rs 36/- for Senior Citizens for verification of both physical as well as online mandate.
Yes. HDFC Bank Locker Charges are applicable for utilising the services. The locker hire charges will be collected annually and depend on the size and location of the locker.