Savings Account Interest Rate - Open Account Digitally

Savings Account Interest Rate - Open Account Digitally

A savings account is a basic but the most important bank account that everyone holds. There are several benefits attached to having a Savings account, one of which is that the Savings account lets you earn interest on your funds

Savings Account interest rate is the interest that you earn on your funds based on your daily closing balance. The accumulated interest is credited to your account on either a monthly or quarterly basis, as per the respective bank's discretion 

Savings Account Interest Rates with HDFC Bank has always been cutting-edge and competitive. With the best interest of our customers at the core, we offer you competitive savings account interest rates on your Savings Accounts. scroll on.

Savings Account Interest Rates

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Domestic, NRO and NRE Savings Rate

Effective 6th April 2022, Rate of Interest for Savings Bank deposits Accounts has been revised as below :

Savings Balance (Rs)

Interest Rate p.a

Less than Rs. 50 Lakh


Of and above Rs 50 Lakh



  • Savings Bank interest will be calculated on the daily balances maintained in your account.​​​​​​​
  • Savings Bank interest will be paid at quarterly intervals

RFC Savings (for Returning NRIs) Interest Rate

This is to inform you that our RFC Savings Account Interest Rates effective July 1, 2017 are as below:







EEFC Deposit would be accepted only in current A/c (According to RBI guidelines.)

HDFC Bank Historic Savings Account Interest Rates

Click here for Historic Savings Account Interest Rate

Savings Account Interest Rates FAQs

How Does Savings Account Interest rate work?
Savings Account interest rate is the lending rate of your bank. The accumulated interest is paid out either half-yearly or annually to you.

What is the minimum balance required in a savings account?
The minimum balances you need to maintain in our Regular Savings account is as below
For rest of the product variants, please refer individual product page

Branch type

Minimum Balance Requirement (AMB) required

Metro / Urban

Rs 10,000/- Average Monthly Balance


Rs 5,000/- Average Monthly Balance


Average Quarterly Balance (AQB) of Rs 2,500/-
Fixed Deposit of Rs 10,000 for a minimum of 1 year, one-day duration.

How to open a savings account digitally?
To Open a Savings Account Online with HDFC Bank, follow the steps given below:

  • Visit to 'Select Product Type' section and click on 'Accounts'
  • Click on 'Saving account' from the ' Select Product' option
  • Click on 'Apply Online'
  • Validate your Mobile Number and select Aadhar option for digital account opening. You will also have the option to choose Other OVD where a reference number would be generated and our branch staff will contact you for account opening
  • Enter the required information such as name, contact details, address, etc.
  • Fill in nominee details and extend
  • Attach documents like PAN, Aadhaar card, or any other document required by the bank
  • Complete activation of your account via Video KYC option of the Bank
  • Once the verification process is complete, you will receive a welcome kit from HDFC Bank. This kit will have your debit cum ATM card, PIN, and chequebook.

What does Average Monthly Balance mean?
Average Monthly Balance (AMB) is essentially the average balance you must maintain in your Savings Account every month. It is calculated basis sum of the end of day balance in the account for each day in the month, divided by the number of days in the month. HDFC Bank has different AMB brackets for urban, semi-rural and rural markets. You can find them all here.