Resident individuals (whether sole or joint account holders) engaged in farming activities and owning agricultural land are eligible to apply for a Kisan Club Savings Account.
There are two options for account operation:
Option 1:
An initial pay-in and Half Year Balance (HYB) requirement of ₹2,500 is applicable for branches in urban, semi-urban, and rural areas. Non-maintenance of the HYB incurs a charge of ₹750 per half year.
Option 2:
The Half Year Balance (HYB) requirement is NIL for this option (Account to be opened with an Initial Pay-in of ₹2,500 as applicable), with a Fixed Deposit maintenance of ₹.25,000. Non-maintenance of either ₹25,000 in Fixed Deposit or ₹2,500 as HYB results in a charge of ₹750 per half year.
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Resident individuals, whether holding accounts individually or jointly, actively involved in farming and owning agricultural land, qualify to apply for a Kisan Club Savings Account.
HDFC Bank has not set any age specific eligibility criteria for the Kisan Club Savings Account. If the interested accountholder can prove farming or farming-related activities as their occupation, they can open this account, irrespective of their age.