Opening a basic savings bank account is essential for everyone to carry out routine financial transactions and build a healthy banking relationship. However, many feel intimidated by regular bank accounts that demand a minimum balance. HDFC bank zero balance account helps eliminate this barrier, providing an affordable and convenient banking option for all. This blog covers detailed steps, terms and conditions to help you choose if a HDFC zero balance account is suitable for your needs.
Types of HDFC Bank Zero Balance Account Online
| Account Type | Features |
| Regular Savings Account | No minimum balance requirement ATM card for cash withdrawals Unlimited withdrawal at ATM Unlimited deposit through various modes |
How to Open HDFC Bank Zero Balance Account Online?
Opening a zero-balance savings account with HDFC Bank is one of the easiest ways to access basic banking services without having to maintain a minimum balance. Following are the simple steps to open this account online:
- Visit HDFC Bank’s website and click on the option for opening a HDFC zero balance savings account.
- Enter basic details like name, date of birth, email address, mobile number etc. to register and submit required documents.
- HDFC Bank will verify your submitted details and documents through online modes within 2-3 business days.
- Once verified, you will receive activation and login details via email/SMS to access your online banking account.
- Login to the net banking portal and choose the type of zero balance account.
- Agree to the terms and conditions and your account will be instantly opened for use.
- You can start carrying out basic transactions like transferring funds and making online bill payments right away.
How to Open HDFC Bank Zero Balance Account Offline?
For those preferring face-to-face assistance, HDFC Bank allows HDFC 0 balance account offline too by visiting a nearby branch.
- Carry basic KYC documents like address and identity proof to the branch.
- Fill a printed account opening form providing necessary details.
- Submit documents and details to branch executive for verification.
- They will process the application within 2 working days.
- On approval, you will be informed to visit again and complete HDFC bank zero account activation.
- Here you can get passbook, debit card and login credentials printed.
- Activation may require you to transfer a nominal amount for transaction rights.
- Now you can carry out banking tasks like deposits, withdrawals through multiple modes.
HDFC Bank Zero Balance Account Interest Rates
Interest rates provided by the bank can be shown in the following table-
| Particular | Rate |
| Saving Deposits Balance below Rs.50 lakh. | 3.00% p.a. |
| Saving Deposits Balance of Rs.50 lakh and above. | 3.50% p.a. |
Fees and charges of HDFC Bank Zero Balance Account
One of the key advantages of HDFC Bank’s zero balance savings account is that it doesn’t impose any minimum balance requirement on customers. There are also no monthly maintenance charges payable.
- HDFC online account opening is completely free and instant online.
- First 10 debit card transactions in a month are free, including ATM withdrawals.
- Beyond 10 transactions, Rs. 20 plus taxes are charged per financial transaction.
- ATM transactions at other bank ATMs attract a fee after five free withdrawals.
- No penalties for non-maintenance of balance.
- Rs. 100 is charged for each cheque book with 10 leaves issued.
- Account closure within a year incurs a charge of Rs. 500.
Eligibility criteria to open HDFC Bank Zero Balance Account
Opening a zero-balance account with HDFC Bank is quite straightforward requiring only basic Know Your Customer (KYC) documentation.
- You must be an Indian citizen living in India.
- Minimum age to open account is 18 years while maximum is 58 years.
- You need to provide your valid address and identity proof.
- Address proof can be voter ID, passport, driving license etc.
- Identity proof required is passport, PAN card, Aadhaar card.
- Your documents should not be expired or old.
- Photograph and signature are also required for offline registration.
- Nomination facility is available for account holders above 18.
HDFC keeps eligibility simple for anyone wishing to open a basic low-cost savings account through simple KYC norms. Minors can open it through guardians.
Documents required to open HDFC Bank Zero Balance Account
To fulfill Know Your Customer (KYC) norms, you need to furnish certain basic documents for opening a zero-balance account with HDFC Bank.
- Address proof – Voter ID, Passport, Driving License, Aadhaar Card etc.
- Identity proof – Passport, PAN Card, Ration Card, Aadhaar Card.
- One passport size photograph – for verification and records.
- Explicit signature – For HDFC zero balance account opening online verification during account signup.
- Valid mobile number – for activation SMS and login credentials.
- Email ID – for online banking access and correspondence.
Submitting these KYC documents can be done either physically at a bank branch or through uploading digital copies online during net banking registration. HDFC keeps the documentation process simple for ease of HDFC savings account opening.
HDFC Bank Zero Balance Account Welcome Kit
Once your HDFC zero balance account is successfully opened, you will receive a digital welcome kit containing important details to activate and start using the account.
- Debit card – Preferred mode for cashless payments and cash withdrawals.
- Internet banking login details – To carry out banking online anywhere.
- Online banking user guide – To learn various banking features.
- Debit card activation process – To make card functional for transactions.
- ATM PIN information – For secure withdrawals from ATMs.
- Contact details – For assistance regarding account services.
- Statement of account – Reflects initial details for records.
This welcome kit helps new account holders get acquainted with banking basics and utilize the debit card and internet banking right from the start.
HDFC Bank Zero Balance Account Helpline
In case of any queries or issues regarding the zero-balance savings account, HDFC Bank provides multiple contact channels for quick assistance. Details of the customer support are as follows-
follows-
| Headquarter Address | HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400 013 |
| Helpline Contact Number | 1800 202 6161 / 1860 267 6161 (Toll Free) |
| Helpline Email Address | You can email them at Email Address according to your location. |
- Customer Care – Dial 1860 266 3333 for account and card related help.
- SMS BANK to 5676731 – To register complaints or block lost/stolen cards.
- Local Branch – Visit nearest branch for in-person guidance and advice.
- Email – Write to HDFC on their official email id for general questions.
- Social Media – Reach out to HDFC through Twitter or Facebook.
- Website – Check HDFC’s online FAQs or live chat for instant answers.
- Mobile Banking App – Register issues within the app for priority redressal.
HDFC ensures all account holders can access necessary support through multiple convenient digital and physical routes according to their preference.
Final Word
In this digital age, having an online savings account makes banking more accessible than ever. HDFC bank zero balance account empowers everyone with fundamental banking services completely free of cost. Whether you are a student hoping to learn financial management or a professional requiring occasional funds transfer, this basic account caters to varying needs. We hope this compilation of information on HDFC bank savings account opening and operating the account assists you in making an informed choice. Go ahead and explore HDFC Bank for a hassle-free banking experience.
FAQs
Yes, HDFC Bank offers zero balance savings accounts that do not require maintaining any minimum balance. You can open this account completely free of cost by completing basic KYC formalities online or at a branch.
Many banks offer zero balance savings accounts but HDFC zero balance account is considered one of the best as it has no fees for basic transactions. Other top zero balance accounts are SBI Zero Balance Savings Account and PNB Zero Balance Savings Account which offer good network coverage. Choose an account from a large bank for reliable services across India.
HDFC Bank does not mandate any minimum balance requirement for its zero-balance savings account. You are free to operate the account without having to maintain any prescribed average monthly or quarterly balance. There are also no penalties for having low or zero balance at any time.
Yes, many banks nowadays offer HDFC savings account zero balance that allow customers to have a bank account with zero-rupee balance. These help those with frequent small transactions or first-time account holders get formal banking access without committing to maintain funds. Accounts remain operational as long as KYC norms are followed.
HDFC zero balance account has no restrictions on deposit amounts but limits free debit card transactions to 10 per month. Beyond this, ₹20 plus GST is charged. Withdrawals from own or otcher bank ATMs are free up to 5, after which ₹20 fee is applicable. Unlimited funds transfer through net banking/mobile banking is possible. Overall, limits placed ensure accounts are not misused while basic needs are still affordable.
Disclaimer
This article is solely for educational purposes. Stable Money doesn't take any responsibility for the information or claims made in the blog.
