HDFC Bank requires its customer to maintain a certain minimum balance in order to avoid penalty chargesHDFC Bank requires its customers to maintain a certain minimum balance in their regular savings accounts.
Failure to meet the average monthly balance or AMB requirements leads to penalty charges payable by the customer.
For regular savings accounts held in HDFC Bank's branches located in metros and urban regions, customers are required to maintain an average monthly balance of Rs 10,000 to avoid penalty charges, according to the lender's website - hdfcbank.com.
In semi-urban branches, HDFC Bank requires its customers to maintain an average of Rs 5,000.Minimum Balance In Metro/Urban BranchesHDFC Bank has set an average monthly balance of Rs 10,000 for the regular savings accounts in its metro and urban branches.Minimum Balance In Semi-Urban BranchesIn its semi-urban branches, customers are required to maintain a monthly average (AMB) of Rs 5,000 in their regular savings accounts, according to the HDFC Bank website.Minimum Balance In Rural BranchesIn rural branches, HDFC Bank customers are required to maintain an average quarterly balance (AQB) of Rs 2,500 to avoid penalty charges.
Customers holding a fixed deposit of Rs 10,000 and above for a minimum term of one year and one day are also exempt from the penalty charges, according to the HDFC Bank website.HDFC Bank Charges For Insufficient Balance In Savings AccountMetro, Urban And Semi-Urban BranchesAverage Monthly Balance (AMB)Charges (excluding taxes)Metro - UrbanSemi Urbangt;=7,500 to < 10,000Rs.
150/-NAgt;=5,000 to < 7,500Rs.
300/-NAgt;=2,500 to < 5,000Rs.
450/-Rs.
150/-0 to < 2,500Rs.
600/-Rs.
300/-Rural BranchesAverage Monthly Balance (AMB)Charges (excluding taxes)gt;= 1000 < 2,500Rs.
270/-0 - <1000Rs.
450/-HDFC Bank charges a fee to the tune of Rs 150-600 (excluding taxes) for insufficient balance in regular savings accounts held in its metro, urban and semi-urban branches.Get Breaking news, live coverage, and Latest News from India and around the world on TheIndianSubcontinent.com.
Catch all the Live TV action on TheIndianSubcontinent 24x7 and TheIndianSubcontinent India.
Like us on Facebook or follow us on Twitter and Instagram for latest news and live news updates.