HDFC Bank Revises Minimum Balance Rules: Comparison With SBI and Other Major Banks

HDFC Bank Denies Minimum Balance Hike, Explains How It Stacks Up Against Other Banks.

HDFC Bank has clarified that it has not increased the minimum balance requirements for its savings accounts, countering recent reports that suggested new account holders in metro or urban branches would need to maintain Rs 25,000—more than double the earlier Rs 10,000. The bank reaffirmed that the Regular Savings Account AMB remains Rs 10,000, while the Savings Max Account continues to require Rs 25,000.

Regular Savings Account Details:

Initial Deposit:

Urban: Rs 10,000

Semi-Urban: Rs 5,000

Rural: Rs 2,500

Maintaining the Account:

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

Who Can Open an Account:

Resident individuals (single or joint)

Hindu Undivided Families (HUFs)

Foreign nationals residing in India for over 180 days

Minors above 10 years (self-operated accounts allowed)

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; 6% monthly charge for shortfall.

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

Bank of Baroda: Quarterly Average Balance: 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 required from June 1, 2025.

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

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 emphasized that its account variants are tailored to different customer needs, and there has been no change in the AMB requirement for any account type. Customers can continue their banking without concern over any sudden balance hikes.