SUPERSAVER ACCOUNT

Super Saver Account gives you the dual advantage - liquidity of a Savings Account + high interest rates of Fixed Deposit. You can avail of an overdraft up to 75% *of the value of your Fixed Deposit.

Features & Benefits
Why choose this product:
- Avail of an overdraft facility on your NRE/NRO/FCNR Deposits
- Pay back with interest only on the drawn amount, while the remaining Fixed Deposit continues to earn you interest
- Get the benefits similar to two accounts working in tandem to give you better returns
- Link your account either with an NRO Savings or NRO Current Account
- Avail of an overdraft facility up to 90%* of your deposit or Rs. 1 Crore, whichever is lower
  (Maximum overdraft against FCNR Deposit is 70% of FCNR or Rs.1 Crore, whichever is lower)
- Re-invest the interest on maturity with the principal @ interest applicable then
Interest Rates
Interest rates on your Super Saver Deposit vary according to the tenure of your deposit.
Here's how you earn a higher interest rate than you would with a Regular NRI Savings Account:
- For a Super Saver facility against NRE/NRO Term Deposits, the interest rate applicable on the amount withdrawn is
  - 2% above the deposit interest rate for a limit up to 75% of the deposit value
  - 2.75% above the deposit interest rate for a limit up to 90% of deposit value
- For a Super Saver facility against your FCNR Term Deposit, the interest rate applicable on the amount withdrawn is equal to
  - Deposit interest rate + 2% + swap cost for a limit up to 75% of the deposit value
  - Deposit interest rate + 2.75% + swap cost for a limit up to 90% of the deposit value
Eligibility
All NRIs holding an NRI account with HDFC Bank are eligible to open a Super Saver Account.

Overdraft Limits:
- You can open a Super Saver Account and avail of an overdraft -
  - Up to* 75% on a minimum Fixed Deposit equivalent to Rs.1,00,000 / USD 2000 or Rs 1 Crore, whichever is lower
  - Up to* 90% on a minimum Fixed Deposit equivalent to Rs.2,00,000 / USD 4000 or Rs 1 Crore, whichever is lower (* Maximum overdraft against FCNR Deposit is 70% of FCNR or Rs 1 Crore, whichever is lower )
- The minimum tenure of the Fixed Deposit should be 1 year in case of NRE/NRO and FCNR Deposit Accounts
- The overdraft facility will be granted on the NRO Savings Account and can be repaid through foreign inward remittances or through local sources
FAQs
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What is a Super Saver Account? Is it a Savings Account?
The Super Saver Account is a premium Savings Account, i.e. a combination of a Fixed Deposit and a Savings Account. It thus gives you the yield of a Fixed Deposit and liquidity of a Savings Account.
The other features of a Super Saver Account are:
- High interest rates
- Personalised cheque book
How does it operate?

The Super Saver Account, enjoying the liquidity of a Savings Account, allows you to withdraw up to *90% of your deposit, or Rs 1 Crore, whichever is lower, whenever you want to. You do not need to break your Fixed Deposit for short term needs. Only withdraw for the period you require the money. You can withdraw by ATM or cheque or teller transactions

Can I add on a Fixed Deposit to the Super Saver Account?

Yes, you can add on a Fixed Deposit to the Super Saver Account. It has to be in multiples of Rs.25,000/-. In such a case, we need to recalculate the overdraft interest rate. Separate add-on forms exist for adding on Fixed Deposit to the Super Saver Account.

Can I have both a Super Saver facility and a Sweep-In facility on the same Fixed Deposit?

No, you can only have one of the two facilities on a single Fixed Deposit.

Can a customer have both a Super Saver facility and a Sweep-In facility on the same Savings Account?

Yes, you can have both these facilities on the same Savings Account. If you choose to do so, you will need to maintain the minimum average quarterly balance of Rs. 10000/- in your Savings Account. Also, when there are insufficient funds in your Savings Account, your overdraft limit will be exhausted before units of the Sweep-In Fixed Deposits are encashed prematurely. If you have any further queries on this product, contact us at nri@hdfcbank.com and we'll get back to you.
* Maximum overdraft against FCNR deposit is 70% of FCNR or Rs 1 Crore, whichever is lower