HDFC Bank

HDFC (Housing Development Financial Corporation) Bank Limited is an Indian banking and
financial services company headquartered in Mumbai, Maharashtra. It has 84,325
employees[7] and has a presence in Bahrain, Hong Kong and Dubai.[8] HDFC Bank is India’s
largest private sector lender by assets.[9] It is the largest bank in India by market capitalization as
of February 2016.[10] It was ranked 69th in 2016 BrandZ Top 100 Most Valuable Global Brands.[11]
History
In 1994 HDFC Bank was incorporated, with its registered office in Mumbai, India. Its first
corporate office and a full service branch at Sandoz House, Worli were inaugurated by the then
Union Finance Minister, Manmohan Singh.
As of June 30, 2017, the bank's distribution network was at 4,715 branches and 12,260 ATMs
across 2,657 cities and towns. The bank also installed 4.30 Lacs POS terminals and issued
235.7 Lacs debit cards and 85.4 Lacs credit card in FY 2017.[4]
On May 23, 2008, the amalgamation of Centurion Bank of Punjab with HDFC Bank was formally approved by
Reserve Bank of India to complete the statutory and regulatory approval process. As per the scheme of
amalgamation, shareholders of CBoP received 1 share of HDFC Bank for every 29 shares of CBoP.

The amalgamation added significant value to HDFC Bank in terms of increased branch network, geographic
reach, and customer base, and a bigger pool of skilled manpower.

BUSINESS PROFILE
HDFC Bank caters to a wide range of banking services covering commercial and investment banking on the
wholesale side and transactional / branch banking on the retail side. The bank has three key business
segments: Wholesale Banking

The Bank’s target market is primarily large, blue-chip manufacturing companies in the Indian corporate sector and
to a lesser extent, small & mid-sized corporates and agri-based businesses. For these customers, the Bank
provides a wide range of commercial and transactional banking services, including working capital finance, trade
services, transactional services, cash management, etc.
Treasury
Within this business, the bank has three main product areas - Foreign Exchange and Derivatives, Local Currency
Money Market & Debt Securities, and Equities.
To comply with statutory reserve requirements, the bank is required to hold 25% of its deposits in government
securities. The Treasury business is responsible for managing the returns and market risk on this investment
portfolio. Retail Banking

The objective of the Retail Bank is to provide its target market customers a full range of financial products and
banking services, giving the customer a one-stop window for all his/her banking requirements. The products are
backed by world-class service and delivered to customers through the growing branch network, as well as through
alternative delivery channels like ATMs, Phone Banking, NetBanking and Mobile Banking.

HDFC offers a wide range of savings account schemes which have unique features and
privileges, that can be availed in a quick and convenient manner. The savings account provides
world class banking facilities and services. Customers can compare and choose the account that
best suits their needs and a personal Relationship Manager assists customers through every

Revision of Interest Rates on HDFC

step of the way.

Bank Savings Bank Deposits

Particulars R
 Saving Deposits Balance below Rs. 50 lakh. 3

Saving Deposits Balance of Rs. 50 lakh and above. 4

HDFC Bank Savings Account Interest Rates &

Minimum Balance Required Updated on 30 Jan
2017

Savings Account Interest Rate Minimum Balance Required Debit Car I

SavingsMax Account 4.00% INR 25,000 Titanium R

Rs. 10,000 (urban branches)

Regular Savings Account 4.00% Rs. 5,000 (semi-urban branches) Internation

Rs.2,500 (Rural Branches)

Rs. 10,000 (Urban branches),

Women's Savings Account 4.00% EasyShop W
Rs. 5,000 (Semi Urban branches)

Kids Advantage Account 4.00% INR 5,000 ATM/Inter

Senior Citizens Account 4.00% INR 5,000 EasyShop I

Family Savings Group Account 4.00% INR 40,000 EasyShop I

Basic Savings Bank Deposit Account 4.00% Not Required RuPay Card

Institutional Savings Account 4.00% Not Required Business D

BSBDA Small Account 4.00% Not Required RuPay Card

The Savings bank account is always available to the customers with facilities such as Mobile
Banking, Phone Banking and Net Banking. Convenience to access funds have been raised with
the presence of over 11,000 ATMs. The savings accounts range from regular savings account to
premium saving options that enables substantial savings.

Types of HDFC Savings Accounts

A savings account is a zero balance account opened as an operative account for fixed
deposits/investments, for day to day personal transactions, remittances to India, or for salary and
payments, standing orders and direct debits/savings. HDFC Bank offers the following Savings
Account Schemes:

1. SavingsMax Account:

Higher interest can be earned on funds that are lying idle, through the automatic sweep out
facility.

2. Regular Savings Account:

This account is created for all your day to day banking requirements.

3. Women’s Savings Account:

This account offers women a complete banking solution and caters to her financial, lifestyle and
investment needs.

4. Kid’s Advantage Account:

This account scheme aims to develop money management skills in kids and is a great method to
accumulate savings for your child.

5. Senior Citizens Account:

This savings scheme is solely for the convenience of senior citizens and comes with the benefits
in relation to health, investment, and other day to day banking solutions.

6. Family Savings Group Account:

This savings account scheme is a complete banking solution for your entire family, with benefits
from a single account.

7. Basic Savings Bank Deposit Account:

This is a zero balance savings account with free ATM/debit card, that meets all your banking
requirements.

8. Institutional Savings Account:

This Zero balance savings account are made available for Trusts, Societies, Associations, Clubs,
NGOs and so on.

9. BSBDA Small Account:

This is a zero balance savings account that comes with a free ATM card, that gives access
HDFC’s large ATM network across India and helps to meet all your banking requirements.
 Multiple Account Access
One View is a unique platform offered by HDFC that allows you to view multiple bank accounts
held with different banks centrally. The participating banks include:
 Citibank
 HSBC India
 ICICI Bank
 Standard Chartered
You no long need to log in to every bank account individually to access net banking. You can set
up 5 different bank account under One View. You need to only remember one password to
access all your accounts along with your HDFC Bank account. That best thing about it is it’s free!
However, you need to be a net banking customer of HDFC Bank.

Features of One View

With One View, you can view all your online bank accounts of HDFC Bank, ICICI Bank, Citibank,
Standard Chartered Bank and HSBC Bank simultaneously. You can view the following details:
 Current or Savings account balance
 Fixed deposit summary
 Current or Savings account transaction history
 Citibank Credit Card balance
 Citibank Credit Card transaction history
 HDFC Demat profile
 HDFC Demat holding
 HDFC Demat status

Security of One View

With One View you will be on a platform using a robust firewall. To transmit information, One
View uses a 128-bit Secure Socket Layer (SSL) encryption technology. The platform is designed
to automatically time out so that others cannot view your details. You can be assured of the
safety of accessing your accounts as you cannot transact, you can only view your account
details.

Basic Savings Bank Deposit Account (Farmers)

This account is exclusively for farmers to include them in the financial sector by providing a zero
balance savings account with no initial deposit requirements. Account holders can benefit from
free IVR phone banking. HDFC Bank issues a free international debit card to account holders to
facilitate cashless and convenient transactions and cash withdrawals. The account can be
operated through net banking, mobile banking, phone banking and branch banking.

Features
 No initial deposit required to open the account
 No average monthly balance required
 There are no charges levied for non-maintenance of the account
 There are no charges levied for activating a dormant account
 Free international debit card
 First cheque book is free
 Cash deposits can be made free of charge with no limits
 Cash withdrawals are limited to 4 free per month and subsequently at Rs.50 plus tax per
transaction

Who can open a Basic Savings Bank Deposit

Account
Only specific individuals can open the BSBDA offered by HDFC Bank:
 Individuals who are residents of India
 Individuals must be an agriculturist or farmer having their own agricultural land or must have
income from agricultural resources
 They account can be opened solely or jointly

How to Open a Basic Savings Bank Deposit

Account
To open this account, individuals can approach a branch of HDFC Bank and submit the following
documents:
 Photograph
 ID proof as per the acceptable list of KYC documents
 Address proof as per the acceptable list of KYC documents
 Basic Savings Bank Deposit Account customer declaration

SmartBuy
SmartBuy is a separate platform by HDFC Bank which allows customers to compare prices
across different websites and get the best deals on shopping and flights. Some of the brands
include Amazon, Flipkart, Snapdeal, Goibibo, Cleartrip, OYO Rooms, eBay, and Booking.com.
SmartBuy offers the following services :
 Flight Bookings
 Hotel Bookings
 Mobile Recharges
Customers can also shop on SmartBuy.com by viewing the best prices. Upon selecting the
product of their choice, they will be directed to the merchant’s website. Based on your city you
can find the best deals and offers on:
 Electronics
 Smartphones
 Food and Dining
 Travel
 Beauty and Health
SmartBuy also has special offers for different methods of payment for purchases through
SmartBuy. Customers can avail discounts and offers on the following payment modes:
 Credit cards
 Debit cards
 Netbanking
 Prepaid cards
SmartBuy helps customers find the best deals online for the product their are looking for by
comparing different prices on different websites. Shop smartly on HDFC Bank’s SmartBuy.
 Features and Benefit Of HDFC Savings Account
 The HDFC Savings account scheme offers various options to meet the requirements of
different customers in an unique manner.
 It offers a complete banking solution that allows the customer and his/her family to benefit from
one single account.
 With just one savings account customers can enjoy everything from health, investment, etc. to
everyday banking solutions.
 Widest ATM networks across the country to meet all your banking needs.
 Free Net Banking, Mobile Banking and Phone Banking.
 Email account statements are sent out on a monthly basis.
 "Money Maximizer" (sweep-out) facility is provided on some savings accounts so that surplus
funds can be put into high earning fixed deposit at the threshold of Rs. 1,25,000.
Documentation Required

Open a Savings Account by submitting:

 Identity proof
 Address proof
 Latest passport size photographs
 Self-attested copies and originals for verification
Eligibility
 Account can be opened by an individual singly or jointly, minors of the age of 10 years and
above, minors under natural/legal guardianship.
 Resident individuals (sole or joint account)
 Hindu undivided families
 Foreign nationals residing in India - If you are a foreign national residing in India, you may
open a Savings Account by attaching an QA 22 form stating sources of credit and a copy of
your residence permit.

Minimum Balance Required With HDFC Bank

Savings Account

Savings Account Scheme Minimum Balance Requirement

Savings Max Account Rs. 25,000

Rs. 10,000 (Metro / Urban branches)

Regular Savings Account Rs. 5, 000 (Semi-Urban)

Rs.2,500 (Rural)

Rs. 10,000 (Metro / Urban branches)

Women’s Savings Account
Rs. 5,000 (Semi-Urban / Rural branches)
 Kid’s Advantage Account Rs. 5,000/-

Senior Citizens Account Rs. 5,000/-

Family Savings Group Account Combined Average Monthly Balance (AMB) in all accounts grouped sho

Basic Savings Bank Deposit Account N/A

Institutional Savings Account N/A

BSBDA Small Account N/A

Fees and Charges

Savings Account Scheme Standing Instructions Passbook issuance Debit C

Savings Max Account Rs. 25 + remittance fee Free Free

Regular Savings Account Rs. 25 + remittance fee Free Rs. 150

Women’s Savings Account Rs. 25 + remittance fee Free Rs. 150

Kid’s Advantage Account Rs. 25 + remittance fee Free Free

Free fo
Senior Citizens Account Rs. 25 + remittance fee Free
Rs.100

Family Savings Group Account Rs. 25 + remittance fee Free Free fo

Basic Savings Bank Deposit Account Rs. 25 + remittance fee Free Rs.100
Institutional Savings Account Rs. 25 + remittance fee N/A N/A

BSBDA Small Account Rs. 25 + remittance fee Free Rs.100