Quick Answer: How Can I Know My Minimum Balance In HDFC Bank?

How can I check my monthly average balance in HDFC?

MAB is the average of all the closing-day balances in a given month.

To calculate the MAB, you need to add each day’s end-of-the-day balance and divide it by the number of days in that month.

Assuming, a bank asks that you maintain Rs 5,000 as average monthly balance: On July 1, the balance in the account is Rs 5,000..

What is the charge for not maintaining minimum balance in HDFC?

Balance Non-Maintenance Charges*AMB Slabs (in Rs.)Metro & UrbanSemi Urban>=5,000 to < 7,500Rs. 300/-NA>=2,500 to < 5,000Rs. 450/-Rs. 150/-0 to < 2,500Rs. 600/-Rs. 300/-2 more rows

Can we open zero balance account in HDFC Bank?

You can open a Savings Account, but you don’t have to maintain a minimum balance for it. Despite this, the bank will still provide the usual facilities that come with a regular Savings Account. As the name of the account implies, this is a zero-balance account. … Consequently, there is no penalty in case of zero balance.

What is minimum monthly balance?

Monthly Average Balance (MAB), also known as the minimum average balance is nothing but the minimum amount you are required to maintain in your Savings Account every month. The figure is calculated at the end of each month and failure to maintain this minimum average balance will result in penalties.

What is closing balance in HDFC Bank?

The accounting closing balance refers to the amount carried forward to the next accounting period. … On the other hand, a closing balance in banking refers to the bank balance at end of a business day, month, or year. That is, the amount in credit or debit in a bank account at the end of a period.

Who is the owner of HDFC Bank?

Housing Development Finance CorporationHDFC Bank/Parent organizations

Can I close my HDFC account with negative balance?

Just put an account closure request and take receiving….. Either manager will close the account or the account will be dormant….. No need to pay these stupid penalties…… For account closure we need to make it positive, if do not want to close then no need to pay but your -ve amount will be increase month by month.

What will happen if minimum balance is not maintained in HDFC?

For savings account in metro cities, HDFC Bank may charge you as much as 600 rupees for not maintaining the minimum balance. With service Tax and other cess, the amount is more than Rs 600. The minimum balance limit in case of HDFC Bank is Rs 10,000 for urban branches and Rs 5,000 for semi-urban branches.

Can I close my account with a negative balance?

No. You cannot close your bank account with a negative balance. You may only close it after bringing your balance to positive and paying the bank penalties. However, your bank can force closure of your account if you fail to satisfy your debt within the time your bank allows you to do so.

How long can your bank account be negative?

Time Varies. As a matter of policy, banks vary the time they take to close negative accounts based on the size of the overdraft and the banking history with the consumer. This is where banking loyalty works in your favor. Many typically wait 30 to 60 days before doing so, while others may wait four months.

What is the minimum balance in HDFC Bank?

To maintain HDFC Bank Savings account, you require a minimum balance of Rs. 10,000 for metro Urban branches Rs. 5,000 For Semi Urban branches Rs. 2,500 for Rural branches is required to open a Savings Regular Account.

Which bank is best Axis or HDFC?

But, in terms of interest rates, HDFC is a better option as its highest rate is 8%. Whereas, Axis Bank Home Loan Interest rates are can go upto 8.55%….People Also Look For.Home Loan Interest Rates January 2021Citibank7.13% – 8.03%HDFC6.80% – 8.00%ICICI Bank6.90% – 8.05%Indiabulls Housing Finance Limited8.99%9 more rows

How can I check my HDFC account balance by SMS?

Account BalanceSMS Banking. If you’re registered for SMS Banking, send the keyword “bal” to 5676712 – to get your account balance on SMS. … Call us on 1800 270 3333 to get your account balance on SMS.Netbanking.

Which HDFC account is best?

HDFC Bank Savings Account Interest Rates & Minimum Balance Required Updated on 2020Types of Savings AccountInterest RateMinimum Balance RequiredFamily Savings Group Account4.00%INR 40,000Basic Savings Bank Deposit Account4.00%Not RequiredInstitutional Savings Account4.00%Not RequiredBSBDA Small Account4.00%Not Required5 more rows

Which bank account is best?

8 Best Zero Balance Savings Account In IndiaIDFC First Bank Pratham Savings Account. … YES Bank Smart Salary Advantage. … IndusInd Bank-Indus Online Savings Account. … DBS-DigiSavings. … Kotak Mahindra Bank-811 Digital Bank Account. … HDFC Bank – Basic Savings Bank Deposit Account. … SBI – Basic Savings Bank Deposit Account. … Standard Chartered Basic Savings Bank Deposit Account.