Can I open second account with HDFC if my first account balance is negative???

rohan

KF Ace
As per RBI guidelines, Banks do not have the right to make your balance negative but it can be zero in case of non-maintenance of AMB.
 

Prince

KF Expert
You can have multiple bank accounts with a Bank, there is no specific restriction on the same, but your customer id will be one for a Bank.
Furthermore Bank can charges you fees subject to amount to balance only, they cannot charge over and above your Balance in case of defaults also (such as non-maintenance of minimum balance)
 

ShivaBoss

KF Rookie
You can have multiple bank accounts with a Bank, there is no specific restriction on the same, but your customer id will be one for a Bank.
Furthermore Bank can charges you fees subject to amount to balance only, they cannot charge over and above your Balance in case of defaults also (such as non-maintenance of minimum balance)
My account balance is negative because I missed my EMIs on first account.
Is there any possibility to open second account???
And what is the solution if bank is refusing to open new account without closing old one.
 

Prince

KF Expert
If its wrt to EMI default, you should not default the same as CIBIL will be impacted and you may find it difficult in getting loan of credit in future.
whereas if you still want to have another account, you can check the Zero Balance Account if your bank has one wherein you can open the account online via videocall verification, such as Kotak and ICICI
 

ShavirB

Founder
Staff member
My account balance is negative because I missed my EMIs on first account.
Is there any possibility to open second account???
And what is the solution if bank is refusing to open new account without closing old one.
If you've missed on your EMI, Bank has the right to deduct the same from your Savings Account. And the reason why Bank is denying you a 2nd account is because your 1st account has negative balance.

I'm sure that as soon as you soon as clear your dues and keep your balance above min balance threshold, Bank wouldn't have any problem with 2ns account.

Alternatively, as suggested you can go for a Zero Balance Account with any other Bank
 
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