HDFC zero Balance Account

[Raj2708]

Hi Buddy!
What are the ways to open a HDFC account with MAB 0.
on website I found by doing FD for 1year your account will be Zero balance.
Example: HDFC Max saving account:
If I open this account and put 1.5 lakh for 1year and 1days. then is my account will be Zero AMB for lifetime or I have to repeat my FD for every year for using that as Zero balance.
I have this confusion.
Can any one write a proper T&C for understanding?
or,
Having such experience are welcome to share there thoughts...

TIA

 

[TaxWiser]

Hi Buddy!
What are the ways to open a HDFC account with MAB 0.
on website I found by doing FD for 1year your account will be Zero balance.
Example: HDFC Max saving account:
If I open this account and put 1.5 lakh for 1year and 1days. then is my account will be Zero AMB for lifetime or I have to repeat my FD for every year for using that as Zero balance.
I have this confusion.
Can any one write a proper T&C for understanding?
or,
Having such experience are welcome to share there thoughts...

TIA

Hey Buddy!

Ways to Open a HDFC Account with Zero MAB:
1. FD Option: You can open an HDFC Max Savings Account by making a FD for 1 year. This allows your account to have a zero balance requirement as long as the FD is active.

Example Scenario:
If you open an account and put ₹1.5 lakh in an FD for 1 year and 1 day, your account will have a zero balance requirement for that period. However, once the FD matures, you will need to renew it to continue enjoying the zero balance benefit. So, it's not a lifetime benefit; you need to repeat the FD every year to maintain the zero balance status.

Terms & Conditions:

- FD Renewal: To keep the zero balance benefit, you must renew your FD upon maturity.​

- Account Maintenance: If the FD is not renewed, the account will revert to the standard minimum balance requirements.​

- Interest Rates: The interest rates on the FD will be as per the prevailing rates at the time of renewal.​

Hope this clears up your confusion!

 

[Raj2708]

Hey Buddy!

Ways to Open a HDFC Account with Zero MAB:
1. FD Option: You can open an HDFC Max Savings Account by making a FD for 1 year. This allows your account to have a zero balance requirement as long as the FD is active.

Example Scenario:
If you open an account and put ₹1.5 lakh in an FD for 1 year and 1 day, your account will have a zero balance requirement for that period. However, once the FD matures, you will need to renew it to continue enjoying the zero balance benefit. So, it's not a lifetime benefit; you need to repeat the FD every year to maintain the zero balance status.

Terms & Conditions:

- FD Renewal: To keep the zero balance benefit, you must renew your FD upon maturity.​

- Account Maintenance: If the FD is not renewed, the account will revert to the standard minimum balance requirements.​

- Interest Rates: The interest rates on the FD will be as per the prevailing rates at the time of renewal.​

Hope this clears up your confusion!

Yaa, Thanks!

 

[Raj2708]

Any ways to open a Normal Saving account on zero AMB with only some initial funding which I withdraw later......

 

[TaxWiser]

Any ways to open a Normal Saving account on zero AMB with only some initial funding which I withdraw later......

In HDFC, Nope
The best you can do is to open a HDFC Farmer's Savings A/C with MAB of ₹2500 via Online mode (not applicable in metro cities And in case of Semi Urban & Rural areas can be opened via branch executives which in most cases they don't)

 

[msourya]

I'm 22 year old. Now I'm doing sip in HDFC nifty fifty index fund and having a Parag Parikh elss fund . I can manage some risk.. I'm doubtful about my portfolio .. how can I make a balanced portfolio.

 

[hitirfan]

In HDFC, Nope
The best you can do is to open a HDFC Farmer's Savings A/C with MAB of ₹2500 via Online mode (not applicable in metro cities And in case of Semi Urban & Rural areas can be opened via branch executives which in most cases they don't)

I opened account online Rural area with 2500 MAB. MAB waived for first year.

 

[TaxWiser]

I'm 22 year old. Now I'm doing sip in HDFC nifty fifty index fund and having a Parag Parikh elss fund . I can manage some risk.. I'm doubtful about my portfolio .. how can I make a balanced portfolio.

You can start by watching these videos to get a clearer understanding. Just remember, it’s important to make your own decisions when it comes to investments. It’s your money, so take responsibility and make the final call yourself

Watch, Learn & DYOR ​

 

[Raj2708]

In HDFC, Nope
The best you can do is to open a HDFC Farmer's Savings A/C with MAB of ₹2500 via Online mode (not applicable in metro cities And in case of Semi Urban & Rural areas can be opened via branch executives which in most cases they don't)

There are two option in Farmer Account. Can you please type which is best and what's the process of online account opening..... are they opening now...

 

[TaxWiser]

There are two option in Farmer Account. Can you please type which is best and what's the process of online account opening..... are they opening now...

What 2 option???

1. Just search HDFC account open online on your browser
2. Click hdfc link
3. Select Savings Farmer account
4. Fill necessary details and do video KYC or offline branch KYC using application reference number

 

[Raj2708]

What 2 option???

1. Just search HDFC account open online on your browser
2. Click hdfc link
3. Select Savings Farmer account
4. Fill necessary details and do video KYC or offline branch KYC using application reference number

View attachment 1596View attachment 1597View attachment 1598

2option are :basic saving bank deposit account- farmer
Kishan saving club

but got it how to open it.

 

[TaxWiser]

2option are :basic saving bank deposit account- farmer
Kishan saving club

but got it how to open it.

2 months ago, I opened my cousin's account then their were no such options.
Please provide the screenshot, so I can understand better the latest changes.

Good Luck for Account Opening

 

[Raj2708]

2 months ago, I opened my cousin's account then their were no such options.
Please provide the screenshot, so I can understand better the latest changes.

Good Luck for Account Opening

 

[Raj2708]

@TaxWiser bro I opened a farmer saving account few days back. Yet to receive my card, cheque and all.
I have some question: i prefer asking you because you used this account.
What are the charges they deduct?
Is the debit card is free or chargeable? How much?

Is there any limit aur threshold on transaction amount or number of transactions.

What' s special in this account.

 

[Raj2708]

Are they provide any pre-approved offer like LTF credit card nd all on this account??

 

[TaxWiser]

What are the charges they deduct?
Is the debit card is free or chargeable? How much?

₹236 Rupay DC(updated)

Is there any limit aur threshold on transaction amount or number of transactions.

I mostly use UPI & NEFT and only used ATM & Cheque twice or thrice since I opened it, didn't faced any kind of issue. Prefer HDFC website regarding the same.

What' s special in this account.

Most cost effective Private Bank Savings Account with all features & benefits plus excellent HDFC services and support compared to other Bank's Regular Savings A/Cs

Are they provide any pre-approved offer like LTF credit card nd all on this account??

I personally received MoneyBack+ LTF CC pre-approved offer(maintained Daily Average Balanceof ₹30000+), Credit Limit Enhancement offer(after using CC for EMI purchase), and CC Upgrade to FYF HDFC Millennia CC Offer(after upgrading from Standard to Preferred Banking program on pre-approved basis) in my HDFC Farmer's Savings account.

Hope this clear all your doubts

 

[Raj2708]

Thanks bro,
Let's see which debit card they send.
But on website they wrote free ATM card.

 

[Raj2708]

@TaxWiser can you please make me understand this line.
If you have idea..

 

[TaxWiser]

@TaxWiser can you please make me understand this line.
If you have idea..View attachment 1876

Many changes have been implemented by HDFC in the Farmer’s Savings Account since I last opened one such as my DC annual fees used to be ₹177 but in my latest statement it's ₹236 for the same Rupay DC. My suggestion would be to wait until you receive your physical debit card along with the MITC (Most Important Terms and Conditions) and fee charges documents. If you have any doubts, try contacting HDFC customer care.

 

[Raj2708]

Many changes have been implemented by HDFC in the Farmer’s Savings Account since I last opened one such as my DC annual fees used to be ₹177 but in my latest statement it's ₹236 for the same Rupay DC. My suggestion would be to wait until you receive your physical debit card along with the MITC (Most Important Terms and Conditions) and fee charges documents. If you have any doubts, try contacting HDFC customer care.

Okay,
How much time they took to deliver.
Yesterday I got Welcome message.
Let's wait and see.
If find anything interesting will update you!