Savings Account Interest Rate - Open Account Digitally

Savings Account Interest Rates

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Domestic, NRO and NRE Savings Rate

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

Note:

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

• Visit https://www.hdfcbank.com/Navigate 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.
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