HDFC Bank increases Minimum Average Balance Requirement

Individual Savings Account - HDFC Bank - Best Individual Savings Account, High Interest Savings Bank Account_1236437975345 We all know that ICICI Bank hiked it’s Minimum Quarterly Average Balance Requirement for their savings accounts customer to Rs.10000 sometimes back. With effect from 01.03.2009, HDFC Bank also hiked  it’s Minimum Quarterly Average Balance Requirement for their savings accounts customer to Rs.10000. It also discontinued Savings Plus A/c which previously requires MAQB of Rs. 10000.Best Savings Plus Account - HDFC Bank - Individual Savings Account, Best Internet-Online Savings Account_1236438040945

It is very unfair as this balance would fetch you a return of 3.5 percent per annum and in fact the real return would be negative.  Only solace is that this new requirements are only for New accounts opened on or after 01.03.2009 .

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