HDFC Bank is one of the popular private banks of the country. It offers various financial products from savings account to loans. Woman Savings Account is a type of savings account that is specifically meant for women customers.
HDFC Bank’s Women Savings Account provides several benefits to women customers.
Here are some of the features of HDFC Bank’s Women Savings Account:
- The customers of HDFC Woman Savings Account get an EasyShop women’s debit card with cashback offers, along with higher daily shopping and ATM cash withdrawal limits.
- The woman savings account also comes with accident protection benefits. Accidental death cover of Rs. 10 lakhs, accidental hospitalisation cover of Rs. 1 lakh, daily cash allowance of Rs. 1,000 per day for a maximum of 10 days per year, for each day of hospitalisation due to an accident is available for bank holders.
- As it is a woman savings account, loans can be availed at an attractive interest rate.
- The annual maintenance charge on the first year after opening a Demat account is waived off.
- Customers get 50% discount on the issuance of a Gift Plus Card when it is loaded with a minimum amount of Rs. 5,000 by internet banking or through a branch.
- The account comes with a higher cash withdrawal limit of Rs. 25,000 along with a daily shopping limit of Rs. 1.75 lakh.
- You can earn cashback of Re. 1 for every Rs. 200 that is spent through the EasyShop Woman’s Advantage Debit Card.
- On auto loan, account holders can receive up to 90% financing along with a longer-term tenure of 7 years.
- Customers can also get a 2% lower interest rate on Two Wheeler Loan and a 50% discount on processing fees of the loan.
- Women also get additional benefits when they carry out transactions through a debit card. Additional international air coverage of Rs.25 Lakhs is available while booking flight tickets through the debit card.
- Fire & Burglary insurance of Rs.2 lakh is applicable for the items purchased through the debit card. The insurance is available for 90 days after the purchase.
- A sum assured of Rs.2 lakh is applicable for any loss of checked baggage.
Eligibility Criteria for HDFC Bank Woman Savings Account
The first account holder of HDFC Bank Woman Savings Account should be a woman. In the case of a joint account, the second holder should be a resident Indian individual.
To open the HDFC Bank Woman Savings Account, a minimum initial deposit of Rs. 10,000, Rs. 5,000 and Rs.2,500 is required for Metro & Urban branches, Semi-urban & Rural branches and Rs. 2,500 for rural branches respectively.
The account also comes with minimum average balance. Customers in the metro and urban branches and semi-urban and rural areas need to maintain an average minimum balance of Rs.10,000 and Rs.5,000 respectively.
How to open an HDFC Bank Woman Savings Account
It is easy to open an HDFC Bank account for woman. All you need to do is submit your identity proof and address proof along with your latest passport size photographs. The identity proof and address proof may also be the same if you are submitting a document that can be used as both as identification as well as an address verification proof.
Submit your self-attested copies and take the originals for verification purpose.
You can also open an HDFC Bank Woman Account online. It is a three-step procedure. You need to submit an online form. Next, the bank representative will come to collect the documents. You will receive the account kit.
To know and compare the different women savings account, click here.
Click here to open an HDFC Bank Savings Account.