How Much HDFC Charges for Not Maintaining Minimum Balance?

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How Much HDFC Charges for Not Maintaining Minimum Balance?

Tanmay

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September 16, 2022

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Vaishali Kakkar · Answer 1 · 2022-09-16T17:09:53+00:00

Hey Friend, The largest bank in the nation based on market value and a private sector lender, HDFC Bank, mandates that its clients keep a specific minimum amount in their regular savings accounts in order to avoid penalty fees or charges for not maintaining minimum balance in HDFC bank. In other words, if the borrower fails to maintain a certain average monthly balance, the lender imposes specific penalty fees payable by the borrower (AMB). Get a home loan at the lowest interest rate from NoBroker and purchase your dream house! Pay your utility bills SAFELY through NoBroker and earn reward points and cashbacks as soon as possible! According to the HDFC's website, ordinary savings accounts held in HDFC Bank's metro and urban branches must have an average monthly balance of Rs. 10,000 to avoid penalty fees. An average of Rs. 5,000 is needed in semi-urban branches. Customers of HDFC Bank must maintain an average quarterly balance (AQB) of Rs. 2,500 in rural branches in order to avoid penalty fees. This is the criteria to avoid HDFC bank charges for not maintaining minimum balance. How much HDFC charges for not maintaining minimum balance? Metro, Urban, and Semi-Urban Branches:

Average Monthly Balance (AMB) (in Rs.)	Charges (excluding taxes)
Metro & Urban	Semi Urban
>=7,500 to < 10,000	Rs. 150/	NA
>=5,000 to < 7,500	Rs. 300/-	NA
>=2,500 to < 5,000	Rs. 450/-	Rs. 150/-
0 to < 2,500	Rs. 600/-	Rs. 300/-

Rural Branches:

Average Monthly Balance (AMB) (in Rs.)	Charges (excluding taxes)
>= 1000 < 2,500	Rs. 270/-
0 - <1000	Rs. 450/-

For insufficient balances in standard savings accounts held at HDFC Bank's metro, urban, and semi-urban branches, there is a fine of between Rs. 150 and Rs. 600 (excluding of taxes). I would like to conclude here about the penalty fees or charges for not maintaining minimum balance in HDFC bank. I hope this helps :)

Read More: How much can I transfer after adding beneficiary HDFC? How to Block HDFC Debit Card by SMS? How to Check HDFC Forex Card Balance?

Aadar Shukla · Answer 2 · 2023-04-18T11:53:54+00:00

HDFC Bank imposes a variety of maintenance fees and penalties on savings bank accounts. Although this varies from bank to bank, you must keep a minimum balance in your account each month. Additionally, there are differences between banks in terms of the interest rates on your savings, cash deposits, check clearance fees and monthly withdrawal limit. So let’s get started to know the HDFC minimum balance penalty charges. Opt for a NoBroker home loan for quick disbursal of the loan amount. Get better deals on the properties by opting for NoBroker buyer plans.

How much penalty for minimum balance in HDFC?

1) Average Balance Minimum Requirements urban and metro branches:

In the case of a shortfall between 7,500 and 10,000 rupees, you would be penalised Rs. 150.
If there is a shortfall between 5,000 and 7,500, you will be taxed Rs. 300.
This is the HDFC bank minimum balance penalty you must know

2) Rural branches: Balance non-maintenance fees (per quarter)

The penalty imposed for a shortfall of Rs.1000 to Rs. 2,500 is Rs.270.
The penalty imposed for a shortfall of 0 to 1000 is Rs. 450.
This is the HDFC bank penalty for minimum balance.

Now you know what will happen if I don’t maintain minimum balance in my HDFC account.

What is the minimum amount to be kept in HDFC account?

Following is a breakdown of the standard minimum balance that HDFC Bank requires at various bank branches:

Metro Branch: Rs. 10,000 per month
Branch in the Suburbs: Rs. 5,000 per month
Branch in the City: Rs. 10,000 per month
Rural branch: 2,500 rupees per quarter

This is all about the HDFC minimum balance penalty from my side. Read More: What happens if minimum balance is not maintained? How much is charged for not maintaining a minimum balance in HDFC? What are depository charges in HDFC Bank? What are AMB charges in HDFC Bank?

Sonali · Answer 3 · 2023-08-11T19:38:49+00:00

Sonali

0 August 11, 2023

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In my journey toward finance management, I have learned the value of keeping a minimum amount in my HDFC bank account to avoid any unnecessary HDFC minimum balance charges. Like many other financial institutions, HDFC Bank has restrictions regarding the minimum balance, and failing to meet these requirements may incur fees.

How much does HDFC charges for not maintaining minimum balance?

As per my experience and the information available on the HDFC website the penalty for not maintaining minimum balance in HDFC are as follows; Calculate your EMI on a home loan via the NoBroker EMI calculator

Description of Charges	Savings max account
Minimum balance Requirement	AMB for Metro / Urban / Semi Urban/ Rural- Rs. 25,000
	Or FD Relationship of - Rs 1.50 lakh in Metro/ Urban location
	- Rs 1 lakh in Semi-Urban / Rural location
Charges on non-maintenance thereof	6% of the shortfall from the average balance requirement OR Rs 600 whichever is lower.
	The fee is set at 6% of the difference between the average balance that is kept (rounded up to the nearest hundred) and the average balance that is required.
Upper Cap for Non Maintenance (AMB)	All Categories - Rs. 600/-

Ultimately, you can avoid unforeseen HDFC minimum balance charges and ensure a smoother financial journey by being aware of the minimum balance required and actively managing your account balance in compliance with HDFC Bank's policies. Get home loans without hefty paperwork through NoBroker Read More: When home loan EMI starts for an under-construction property? How to pay HDFC home loan EMI online? How to pay home loan EMI through a credit card?

How Much HDFC Charges for Not Maintaining Minimum Balance?

How much penalty for minimum balance in HDFC?

What is the minimum amount to be kept in HDFC account?

How much does HDFC charges for not maintaining minimum balance?

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How Much HDFC Charges for Not Maintaining Minimum Balance?

How much penalty for minimum balance in HDFC?

What is the minimum amount to be kept in HDFC account?

How much does HDFC charges for not maintaining minimum balance?

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