(Need help) HDFC savings account variants

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Chennai Super Kings
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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?

23 Comments  |  
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Savings max will be ideal. No charges for anything (sms/atm etc) and as you already know the debit card is very rewarding.

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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.

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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

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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.

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cadence wrote:

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.

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Seinfeld wrote:

Savings max will be ideal. No charges for anything (sms/atm etc) and as you already know the debit card is very rewarding.

What are the charges on other accounts?

Platinum card is good but I don’t plan on spending anything from the account.

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ZNZ wrote:

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?

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ZNZ wrote:

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.

What are the charges for Millenia?

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tvirus wrote:

What are the charges for Millenia?

500+GST=590 as far as i can remember.

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Keep SMS alerts – The way we are having money frauds nowadays, it saves headache to be alerted of any issue in your account.

Go to branch and ask for “Only ATM card” (only for cash withdrawals). It’s free in HDFCNOT Debit card (for online/pos transactions) if you want to save on Debit Card.

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Ramta_Jogi wrote:

Keep SMS alerts – The way we are having money frauds nowadays, it saves headache to be alerted of any issue in your account.

Go to branch and ask for “Only ATM card” (only for cash withdrawals). It’s free in HDFCNOT Debit card (for online/pos transactions) if you want to save on Debit Card.

surprised

Never knew these can be separate!

Like which cards are only ATM cards?

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nimod wrote:
surprised

Never knew these can be separate!

Like which cards are only ATM cards?

The easiest way to figure out an ATM card is that it won’t have any CVV at the back.

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DimeDime wrote:

Branch location type -Metro, Urban or Rural?

Metro

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DimeDime wrote:

Any other expectation from HDFC, in particular? Like a pre-approved CC?

Yes

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tvirus wrote:

What are the charges on other accounts?

Platinum card is good but I don’t plan on spending anything from the account.

Charges on Regular Savings
https://www.hdfcbank.com/personal/save/accounts...

Charges on Youth account
https://www.hdfcbank.com/personal/save/accounts...

for example SMS alerts / cash withdrawals are free on Savings Max account but not in these two.. check for yourself please.

Also are you sure you won’t use the debit card for anything in the long run? HDFC runs lucrative offers like 5% on amazon GV or amazon purchases, Gives 1% cashback for credit card payments, etc. You might not want them now.. but rather plan ahead.

Also remember to enable netbanking and do FD or regular RD online whenever you see some money accumulated in your account. It’s very easy and will give you good returns.

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Seinfeld wrote:

Charges on Regular Savings
https://www.hdfcbank.com/personal/save/accounts...

Charges on Youth account
https://www.hdfcbank.com/personal/save/accounts...

for example SMS alerts / cash withdrawals are free on Savings Max account but not in these two.. check for yourself please.

Also are you sure you won’t use the debit card for anything in the long run? HDFC runs lucrative offers like 5% on amazon GV or amazon purchases, Gives 1% cashback for credit card payments, etc. You might not want them now.. but rather plan ahead.

Also remember to enable netbanking and do FD or regular RD online whenever you see some money accumulated in your account. It’s very easy and will give you good returns.

I use my father’s card for these kind of offers.

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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.

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_One_Miller_ wrote:

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.

Thank you. This is what I am going to do

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