(Need help) HDFC savings account variants
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I am opening a new savings account in HDFC bank. I am expecting to get salary of 11k per month in it.
There won’t be any withdrawals, the entire amount would stay there for at least 3-4 years.
So I was wondering which variant should I open –
1. Savings Max – 25k minimum balance
2. Regular savings – 10k
3. Youth account – 5k
As far as I know the only difference is debit card variant. Is there anything else I should know about?
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What are the charges on other accounts?
Platinum card is good but I don’t plan on spending anything from the account.
If your org supports then go for salary account.
If not,
Go with any account variant of your choice .
In savings max there’s no charges.
In regular account also you can deactivate add on sms alerts and you wont be charged for that. Debit card still charagable.
And you can get millenia by default in regular savings account also just tell the bank representative about that.
Salary account gives interest?
Side note – Don’t let your savings sit idle. Start a SIP or RD or collect a few month’s salary and start making small FDs
Free Platinum Debit Card is the primary advantage of savings max account. Personally I prefer Millennia DC though it depends on individual’s spending pattern & other cards he possesses.
Agree.
Personal suggestion:- Open regular savings account , opt out of unnecessary non essential sms alerts from net banking. And while opening ask the bank representative to give the millenia card. They will enter card specific code and by default millenia card will come.
Start SIP or RD instead of keeping money ideal.
Open DigiSave Youth account now & after 1 year convert it to Savings Max account.
For DigiSave Youth account, DC is FYF & for Savings max account, DC is LTF.
 HDFC savings account variants for Rs. at ){kind=link}
Savings max will be ideal. No charges for anything (sms/atm etc) and as you already know the debit card is very rewarding.