HDFC BSBDA Small Savings Account
HDFC Basic Savings Bank Deposit Account (BSBDA) small account is a no-frills, zero-balance savings account that comes with a free RuPay ATM card that allows you to transact from your account from anywhere in India. The account also provides with you features such as a free passbook, free cheque deposits, free cash deposits, free e-mail statements, a free BillPay facility, and a free InstaQuery facility.
Highlights of HDFC BSBDA Small Account:
Bank | HDFC Bank |
Category | |
Minimum Balance Requirement | Nil |
Debit Card | Free RuPay Card to access accounts |
HDFC BSBDA Small Account Eligibility and Documentation:
Eligibility |
|
Documentation/ KYC Monitoring |
|
Features of HDFC BSBDA Small Account:
Cash Withdrawal at ATM | Up to 4 free cash withdrawals including ATM, NEFT, RTGS, transfer, bank cash withdrawal, clearing, EMI, internet debits, and standing instructions. |
Passbook facility | Free for all account holders |
Cheque Book | Free |
Cheque and Cash deposits at branches and ATMs | Free |
Initial Deposit Amount | Nil |
Fees and Charges of HDFC BSBDA Small Account:
Minimum Average Monthly Balance | Nil |
Passbook Issuance | Free |
Issuance of Duplicate Passbook | Rs.100 |
TDS Certificate | Free |
Stop Payment Charges |
|
ATM/Debit card transaction charges | First 5 transactions free across HDFC and other bank ATMs. After that, cash withdrawals will incur a charge of Rs.20 and non-financial transactions will incur a charge of Rs.8.5 |
PIN regeneration charge | Rs.50 |
Mobile Banking and Net Banking | Free |
Interest Certificate | Rs.50 |
If you are looking to open a basic savings account in which you do not wish to save more than Rs.50,000, you can choose HDFC's BSBDA.
GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.
FAQs on HDFC BSBDA Small Savings Account
- What is the minimum balance in HDFC Basic Savings Account?
HDFC BSBDA Small Account requires no minimum balance, making it a zero-balance account.
- What is the difference between BSBDA and normal account?
A BSBDA (Basic Savings Bank Deposit Account) is a simplified, no-frills savings account with no minimum balance requirement and limited transactions, while a normal savings account may have higher transaction limits and a minimum balance requirement.
- Can I have two BSBDA accounts?
No, as per RBI guidelines, a customer can hold only one BSBDA account across all banks.
- Who is eligible to open an HDFC BSBDA Small Account?
Any resident individual, including those without valid KYC documents, can open an HDFC BSBDA Small Account. However, KYC documents must be submitted within the specified time limits (12 to 24 months).
- What are the withdrawal limits in the HDFC BSBDA Small Account?
You can make up to four withdrawals per month (including ATM withdrawals, NEFT, RTGS, and branch transactions).
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