Fees and Charges for Merchant Advantage Current Account effective January 1, 2016.
| Description of Charges | Merchant Advantage Current Account |
|---|---|
| Minimum balance (Average Monthly Balance) | ₹25,000 |
| Non-maintenance charges per month | ₹600 per month |
| Mode of calculation of minimum average monthly balance | Average of daily closing balances of each day spread over one month. |
| Cheque book charges (Issued by Bank) (Customers can request a maximum of 100 cheque leaves through NetBanking. For requests above 100 cheque leaves, customers need to visit the branch.) |
Payable-at-par 50 cheque leaves free per month. Charges ₹2 per leaf beyond 50 leaves |
| Other Current Account facilities | |
| Monthly Account Statement | Free |
| Issue of Duplicate / Ad Hoc Statement | Branch - ₹100 PhoneBanking (Non IVR) - ₹75 NetBanking, MobileBanking, PhoneBanking - IVR & ATM - ₹50 |
| Remittance facility through own Bank | |
| Demand Drafts (DD) payable HDFC Bank Locations (Issued from any branch) / Duplicate DD | DD amount: up to ₹50,000 charges- ₹40 per DD Above ₹50,000 to ₹1- ₹25 lakh per DD Above ₹1 lakh - Free |
| Pay Orders (PO) on HDFC Bank locations (Issued from any branch) / duplicate PO | PO amount: up to ₹50,000 charges- ₹40 per PO Above ₹50,000 to ₹1 lakh- ₹25 per PO Above ₹1 lakh - Free |
| Issuance of DD/ PO through PhoneBanking | All standard charges for DD / PO are applicable as above. Only DD / PO amount up to ₹5 lakh are accepted at PhoneBanking. |
| DD/PO-Cancellation/Revalidation | ₹100 per instrument |
| NEFT/EFT Transactions : | |
| Payments (At branch) | Up to ₹10,000/ ₹2.50 per transaction ₹10,001 to ₹1 lakh: ₹5 per transaction ₹1 lakh to ₹2 lakh: ₹15 per transaction Above ₹2 lakh: ₹25 per transaction *plus applicable taxes |
| Collections | Free |
| RTGS Transactions : | |
| Payments at branch | ₹2 lakh to ₹5 lakh - ₹25 per transaction ₹5 lakh and above - ₹50 per transaction *plus applicable taxes |
| Collections | Free |
| NEFT/RTGS payments are free through NetBanking | |
| Local Transactions (at home branch location) | |
| Local cheques collections & payments | Free |
| Account to Account Fund Transfer within HDFC Bank | Free |
| Anywhere transactions | |
| Account to Account Fund Transfer within HDFC Bank | Free |
| Payments at HDFC Bank locations | Free |
| Collections at HDFC Bank locations | Free |
| Bulk Transaction Charges | All the above transactions are subject to a maximum of 50 transactions per month. Beyond-limit charges: ₹10 per transaction would be levied. Includes all local/anywhere clearing and funds transfer transactions. |
| Remittance facility through other Bank | |
| Issue of Demand Drafts (DD) / Duplicate DD (correspondent tie up) | ₹1.50 per ₹1000, minimum ₹50 per DD |
| DD-cancellation / revalidation | ₹100 per instrument |
| Cheque collection | |
| Outstation cheque collection at bank locations | Up to ₹50,000: ₹50 per instrument Above ₹50,000 up to ₹1 lakh: ₹100 per instrument Above ₹1 lakh: ₹150 per instrument |
| Outstation cheque collection at correspondent bank location | Up to ₹25,000: ₹50 per instrument Above ₹25,000 up to ₹1 lakh: ₹100 per instrument Above ₹1 lakh: ₹150 per instrument |
| Outstation cheque collection at clean location | Up to ₹25,000: ₹50 per instrument Above ₹25,000 up to ₹1 lakh: ₹100 per instrument Above ₹1 lakh: ₹150 per instrument |
| Cheque collection through Speed Clearing | Up to ₹1 lakh: NIL Above ₹1 lakh: ₹140 per instrument |
| Bouncing of cheques- local | |
| Cheques drawn on us | |
| Due to Insufficient Funds | Up to 2 instruments per month: ₹500 per instrument On 3rd instrument onwards: ₹750 per instrument |
| Due to technical reasons | No Charge |
| Cheques deposited returned unpaid | Local Cheque: ₹100 per instrument Outstation Cheque: ₹150 per instrument |
| Doorstep Banking ** | |
| Cash Pickup Charges (within municipal city limits) | |
| Cash Pickup up to ₹ 1 lakh | ₹150 per pickup |
| Cash pickup beyond ₹ 1 lakh to ₹ 2 lakh | ₹200 per pickup |
| Cash pickup beyond ₹ 2 lakh up to ₹ 3 lakh | ₹300 per pickup |
| Cash beyond the above limits can be offered, for further details on charges please contact your Branch Manager | |
| Cash Transactions | |
| Cash Deposit | |
| Cash Deposit- home branch location | Free up to 4 times current month POS value (Amount swiped at HDFC Bank EDC machine) per month or 25 transactions whichever is lower. Deposits over 4 times POS value or 25 transactions will be charged at ₹3 per ₹1,000, minimum ₹50 per transaction. |
| Limit on Inter-branch deposits (Within Home Branch City | Cash deposit at non-home branches within the home branch city are subject to a maximum of ₹50,000 per account per day. |
| Cash Deposit: Non-home location | Maximum of ₹50,000 per day, charges at ₹3.5 per 1000, minimum ₹50 per transaction |
| Free Cash deposit Limit will lapse for the account if AQB/AMB/HAB maintained is less than 75% of required product AQB/AMB/HAB i.e. customers will be charged from 1st transaction of cash deposit. | |
| Cash Withdrawal | |
| Cash Withdrawal-Home Branch | Free at Home Branch |
| Cash Withdrawal-Non Home Branch-Intracity & Intracity | Free cash withdrawal up to ₹50,000 per day Beyond the limit which charges at ₹2/1000, minimum ₹50 per transaction. Third-party cash withdrawal is allowed only up to a maximum ₹50,000 per transaction. |
| Miscellaneous | |
| Balance enquiry | ₹25 |
| TDS Certificate | Free |
| Balance Confirmation | ₹50 |
| Interest Certificate | ₹50 |
| Cheque Status per instance | ₹25 |
| Photo Verification | ₹100 per instance |
| Address Confirmation | ₹100 per instance |
| Signature Verification | ₹100 per instance |
| ECS (Debit) Return Charges (Quarterly Charges) |
Up to 3 returns - ₹350/ instance 4th return onward ₹750 /instance |
| Setting up of Standing Instructions | NIL |
| Any Deliverable returned by courier due to negative reasons (no such consignee/ consignee shifted and no such address) | ₹50 per instance |
| TIN/IPIN Regeneration (requests received at the branch for physical dispatch) | ₹50 per instance |
| SI rejects | Up to 3 returns - 350 per instance 4th return onward 750 per instance |
| Old Records / Copy of Paid Cheque | |
| up to 1 Year | ₹50 per record |
| Above 1 Year | ₹100 per record |
| Common Charges for Debit / ATM Cards | |
| Replacement of damaged card | Free |
| Replacement of Lost card | ₹200 |
| Copy Retrieval Request | ₹100 |
| Re-Issuance of PIN | ₹50 (plus taxes) |
| ATM Usage: | |
| Transaction Type | Balance Inquiry | Cash Withdrawal |
| HDFC Bank ATMs | Free | Free |
| Non-HDFC Bank ATMs | ||
| Domestic | On all transactions (Financial + Non-financial) Charges applicable at ₹20 per transaction |
|
| International* *The Bank will charge a cross-currency mark-up of 3.5% on foreign currency transactions carried out on Debit Cards. The exchange rate used will be the VISA/Master Card wholesale exchange rate prevailing at the time of transaction |
₹25 per transaction | ₹125 per transaction |
| Transaction Decline Charge (at Non HDFC Bank ATMs) | ₹25 per transaction |
| Stop Payment Charges | |
| Particular cheque | ₹100 (Free through PhoneBanking) |
| Range of cheques | ₹250 (Free through PhoneBanking) |
| Account Closure: | |
| Up to 14 days | No Charge |
| 15 days to 6 months | ₹500 |
| 6 months up to 12 months | ₹250 |
| Beyond 12 months | No Charge |
| Activation of Dormant / inoperative account | No Charge |
| InstaAlert / MobileBanking | |
| Insta Alert | NIL |
| Transactions through PhoneBanking: | |
| Interactive Voice Response (IVR) | Free |
| Non-IVR-Agent assisted-For accounts maintaining AQB | Free |
| Charges on all IMPS Outgoing transactions: | |
Effective March 01, 2015
Fees and Charges for Merchant Advantage Current Account effective January 1, 2016.
| Slabs (₹) | Charges Exclusive of GST (₹) |
| Up to 1 lakh | 5 |
| 1 lakh up to 2 lakh | 15 |
All charges are exclusive of GST as applicable from time to time
+For accounts maintaining AMB less than ₹ 25,000/- as of previous qtr will be charged ₹ 25 each for next 3 montly statement
**Available at Select locations.You need to register with the Bank for availing these services, please contact your Branch Manager for further details.
Fees and Charges (Past Records)
Download Fees & Charges effective 1st August’25
Click here to view Fees & Charges for Merchant Advantage Current Account before 1st January' 2016
Click here to view Fees & Charges for Merchant Advantage Current Account before 1st December, 2014
Click here to view Fees & Charges for Merchant Advantage Current Account before 1st November, 2013
Click here to view charges applicable before 1st September,2010
Download Fees & Charges effective 1st November'22
Download fees & charges effective 1st October'23
Download Fees & Charges effective 1st December'24
Click here to read the Terms & Conditions of a Merchant Advantage Current Account.
Frequently Asked Questions
For detailed information on fees and charges associated with the Merchant Advantage Current Account, please visit the website.
Yes, there are non-maintenance charges of ₹600 per month for the Merchant Advantage Current Account.
Tax implications vary based on individual circumstances. Please consult your tax advisor for specific information.
You can get free cash deposits of up to 4x the amount swiped on an HDFC Bank electronic machine per month. You also get 50 payable at par cheque leaves free per month. Enjoy special offers with a free Regular Debit Card.
You cannot open a Merchant Advantage Current Account as it has been discontinued eff. 01-08-2019. However, you can explore a range of other Current Accounts that may suit your needs. Click here to view our available options and find the right account for you.
Most Important Terms and Conditions
*The (Most Important Terms and Conditions) for each of our banking offerings features all the specific terms and conditions that govern their use. You must go through it thoroughly to fully understand the terms and conditions applicable to any banking product you choose.
*The (Most Important Terms and Conditions) for each of our banking offerings features all the specific terms and conditions that govern their use. You must go through it thoroughly to fully understand the terms and conditions applicable to any banking product you choose.