HDFC Bank has clarified that its savings account minimum balance rules remain unchanged, dispelling confusion caused by recent reports. The bank confirmed that the Average Monthly Balance (AMB) requirement continues to be ₹10,000 for urban and metro branches, while different thresholds apply for semi-urban and rural branches as per existing policy.
HDFC Bank Confirms No Change in Minimum Balance Requirement for Savings Accounts
The AMB is calculated by taking the average of daily closing balances in an account over the month. Falling short of the required AMB can result in non-maintenance charges, which vary depending on the branch category.
HDFC Bank stated that this is not the case
The clarification comes amid speculation that the bank had raised the minimum balance requirement to ₹25,000 for savings accounts. HDFC Bank stated that this is not the case, and customers should refer to official bank communication for accurate information.
The bank also reminded customers that salary accounts, senior citizen accounts, and certain special categories are exempt from AMB requirements. In addition, HDFC continues to offer a Basic Savings Bank Deposit Account (BSBDA) with no minimum balance requirement, in line with RBI guidelines.
The move is expected to reassure customers who were concerned about higher charges and to prevent misinformation from causing panic among account holders.
