Hdfc Saving Account Interest Rate
Posted By admin On 02/08/22A Savings Account is very beneficial with multiple advantages as detailed below:
(1) Earns Interest on your Savings
- Saving Account Interest Income Calculator. Saving Account Interest Income Calculator: Saving Account Interest Income Calculator.
- Interest on Loan. The interest rate payable on loans taken against PPF accounts is 2% higher than the prevailing interest rate. For example, if the prevailing interest rate is 8%, then interest payable on loan taken on such account would be 10%; Before Nov 30, 2011, this rate was 1% higher than the prevailing interest rate.
This is the first and foremost benefit of opening a savings account. It starts earning interest on your money as soon as it is deposited. The interest rate is decided solely by the bank and changes from time to time. Regular interest depends upon the balance of the savings account.
HDFC Bank has a savings account for all your needs, from no-frills, zero deposit to feature-rich, customised accounts. We even have an instant savings account for those who want to open an account fast. Get CIBIL Score Instantly for Free and Save around INR 4,800 a Year (Only for Wishfin Customers) Instant Personal Loan Quotes from 17 Banks and Get the Best Deal. Savings Account is the oldest and most common form of savings. The reason behind people preferring a savings account over any other form of savings is that here the principal amount is always safe no matter how much interest is earned. HDFC Bank SavingsMax Account HDFC SavingsMax Account is a premium account with enormous benefits and better saving facilities. The HDFC bank offers these advantages to the customers who are willing to keep a minimum balance of Rs 25,000 in the account. Interest rates earned on the savings is.
Interest rate in savings account ranges from 3.5% to 7%.
(2) Provides Security of Funds
There is no risk involved in your savings account. It is considered as one of the safest investment alternatives. It even offers you the opportunity to put your money into another investment whenever the time comes.
(3) No Lock-in Period
There is no lock-in period under savings account which means that you can withdraw your deposits anytime you need. There is no need to keep your money in this account for any specific period. You have full flexibility in withdrawal of amount from it.
Hdfc Saving Account Interest Rate
(4) Offers Liquidity
You can withdraw the amount anytime 24X7 with the use of ATM card or debit card from your account during any emergency even when the bank is closed. In fact, being able to access your money when you need it, is one of the biggest benefit of having a savings account.
(5) Availability of Variety of Savings Account
Many banks offer comprehensive range of savings accounts from regular to premium suiting to your personal banking needs. There are different types of savings accounts offered by various banks that differ based on the interest rates and duration of time commitments. You can choose any of them which suits your financial objectives and requirements.
(6) Services of Customer Relation Manager
Now-a-days many of the banks engage a Customer Relation Manager (CRM) who will help not only solve your queries but also assist you in tax saving, investment, mutual fund schemes, insurance, bank procedures, etc. You need to just call your CRM and he/ she will assist you solve your problem.
(7) Online Banking Facilities
If you maintain a savings account, you can make many transactions online also such as payment of bills, fund transfers using RTGS/ NEFT or IMPS, etc. This will save your time and efforts.
(8) Provides ATM/ Debit Card
You will be offered a debit or ATM card with a nominal charge or without any charges, as offered by your bank. With the help of this card, you can withdraw the funds, make transactions in shops, make payments of bills, etc.
(9) Helps you Get Credit or Loan
The relation you maintain with the bank will help you in getting credits from the bank such as home loan, personal loan. You will also be in a position to negotiate with the banker on the interest rates.
(10) No Cap on Deposits
There is no limit on the amount deposited and number of times it is deposited.
(11) Facility to link Loan EMIs, Mutual Fund SIPs or RD deductions
Hdfc Saving Account Interest Rate
You get a facility to link your monthly loan EMIs, Mutual Fund SIPs or RD deductions through the savings bank account.
(12) Free Mobile App
Hdfc Bank Minimum Balance
Most of the banks provide their mobile app for free. Through this app, you can get to know your account balance, check your statement, make transactions, easy transfer of money, etc.