HDFC Senior Citizens Account
HDFC Senior Citizens Account offers exclusive services and banking facilities to senior citizens in India and offer them various privileges and enhanced savings account.
Key Highlights of HDFC Senior Citizens Account
Bank | HDFC Bank |
Category | HDFC Senior Citizens Account |
Minimum Balance Requirement | Rs. 5,000 (urban/semi-urban) |
Interest Rate | 4% per annum |
Debit Card | EasyShop International Debit Card |
Eligibility Criteria |
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Features & Benefits of HDFC Senior Citizens Account
The main features of the Senior Citizens Account offered by HDFC Bank are mentioned in the table below:
Transactions |
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Cross-Product Benefits |
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Debit Card Benefits | The primary account holder will be provided a debit card for free Cashback and Reward Points |
Insurance Cover | Loss of Checked Baggage: Rs.2,00,00 is the sum assured Fire and Burglary: Rs.2,00,00 is the sum assured Death Cover by Rail/ Road/ Air: Rs.5,00,00 is the sum assured Rs.50,000 will be provided in a year as accidental hospitalisation cover. |
Other Features and Benefits | In case the age of the individual is more than 70 years, doorstep banking facility is offered. For the first year, a Demat account is provided for free. |
Services Offered Under HDFC Senior Citizens Account
BillPay | Yes |
InstaAlert | Yes |
Net Banking | Yes |
Standing Instructions | Yes |
Mobile Banking | Yes |
HDFC Senior Citizens Account: Fees and Charges
Minimum balance | Rs. 5,000 |
Charges on non-maintenance of minimum balance |
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Additional chequebook | Rs 75/- |
Issue of duplicate/adhoc statements |
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Cheque return charges |
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Cheques deposited and returned unpaid | Rs 80/- per instance |
Hold Statement | Rs.400 charged annually |
Manager's cheque/demand drafts - Cancellation | Rs.40 |
TDS Certificate | Free |
ATM card - Replacement | Rs.200 |
ATM / Debit Card Card - Transaction Charge | Unlimited free transactions on HDFC as well as non HDFC Bank ATMs |
TIN regeneration | Rs 50/- |
Eligibility to Open HDFC Senior Citizens Account
The eligibility criteria that must be met in order to open a Senior Citizens Account with HDFC Bank are mentioned below:
- Only resident individuals can open an account.
- The individual must be 60 years.
- In the case of joint accounts, the first applicant must be a senior citizen.
GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.
FAQs on HDFC Senior Citizens Account
- What is the minimum age to open a Senior Citizen Account?
A person who is 60 years old or above can open a Senior Citizen Account.
- What are the benefits of the HDFC Senior Citizens Account?
HDFC Senior Citizens Account offers many benefits like higher interest rates, free debit cards, accidental hospitalisation cover, and cashback rewards.
- What is the interest rate on the HDFC Senior Citizens Account?
The account offers an interest rate of 4% per annum.
- What is the Death Cover benefit of the HDFC Senior Citizens Account?
A Death Cover of Rs.5 lakh is provided in case of death by air, road, or rail, for active Rewards Debit Card users.
- What is the minimum balance required for an HDFC Senior Citizens Account?
The minimum balance of Rs.5,000 is required for urban and semi-urban areas.
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