Clarification: HDFC Bank says no change in Average Monthly Balance for savings accounts

Srinagar, Aug 14, KNT: HDFC Bank has clarified that that there is no change in Average Monthly Balance. “We would like to place on record that HDFC Bank offers multiple variants of Savings Accounts in line with the customers’ profile. Each variant has different requirements of Average Monthly Balance based on the value-added services offered.

There has been no change in the Average Monthly Balance (AMB) requirement for any account type. The AMB for the Regular Savings Account continues to be ₹10,000 and the AMB for the Savings Max Account remains at ₹25,000.

All variants are available across rural, semi-urban, urban and metro branches depending on customer profile. Given customer usage in metro areas, the Bank will prioritise offering the Savings Max Account to customers opening new accounts in metro branches. [KNT]