HDFC Bank Raises Minimum Balance: How It Stacks Up Against SBI and Other Banks

HDFC Bank Clarifies: No Hike in Minimum Balance, How It Compares With Other Banks

HDFC Bank has dismissed recent reports claiming it raised the minimum balance requirements for savings accounts. The bank confirmed that the Average Monthly Balance (AMB) for its Regular Savings Account remains Rs 10,000, while the Savings Max Account continues to require Rs 25,000. Earlier rumors suggested new account holders in metro or urban branches would need to maintain Rs 25,000—over double the previous AMB—but the bank has clarified that no such change has occurred.

Regular Savings Account Details

Initial Deposit Requirements:

Urban branches: Rs 10,000

Semi-urban branches: Rs 5,000

Rural branches: Rs 2,500

Maintaining the Account: Customers must either maintain the AMB or hold a fixed deposit:

Urban: Rs 10,000 AMB or Rs 1 lakh FD

Semi-urban: Rs 5,000 AMB or Rs 50,000 FD

Rural: Rs 2,500 quarterly average balance or Rs 25,000 FD

Eligibility:

Resident individuals (single/joint)

Hindu Undivided Families (HUFs)

Foreign nationals residing in India (180+ days)

Minors above 10 years (self-operated, with ATM/debit card)

Minimum Balance Across Major Banks:

SBI: No minimum balance for Savings Bank or Savings Plus accounts.

Kotak Mahindra Bank: Rs 10,000–20,000 depending on account type; shortfall attracts a 6% monthly charge.

Axis Bank: Rs 10,000 or Rs 50,000 FD; Priority Savings requires Rs 2 lakh.

Bank of Baroda: Quarterly average: Rs 2,000 (metro), Rs 1,000 (semi-urban), Rs 500 (rural).

PNB: Monthly balance: Rs 10,000 (metro), Rs 5,000 (urban), Rs 2,000 (semi-urban), Rs 1,000 (rural).

Union Bank of India: Quarterly balance: Rs 1,000 (metro/urban), Rs 500 (semi-urban), Rs 250 (rural).

Canara Bank: No minimum balance from June 1, 2025.

IDBI Bank: Rs 10,000 (metro/urban), Rs 5,000 (semi-urban), Rs 2,500 (rural), Rs 1,000 (Rural FI branches).

Indian Bank: Cheque accounts: Rs 2,500 (metro/urban), Rs 1,000 (semi-urban/rural); No-cheque accounts: Rs 1,000 (metro/urban), Rs 500 (semi-urban/rural).

Yes Bank: Basic Savings: No minimum balance; Savings Account PRO: Rs 10,000; PRO Plus: Rs 25,000.

HDFC Bank emphasizes that its savings account offerings are designed for different customer needs, and no account type has seen a hike in the AMB requirement. Customers can continue banking with confidence, knowing the existing rules remain unchanged.