Basic Savings Bank Deposit Account Eligibility Requirement

All you need to know about eligibility criteria for Basic Savings Bank Deposit Account

Eligible account holders include:

  • Resident Individuals (sole or joint account).
  • Hindu Undivided Families.
  • Customers without an existing Basic Savings Bank Deposit (BSBD) Account with any other bank.
  • Customers without any other savings account with HDFC Bank.
  • Minors above the age of 10 years are eligible to open a self-operated minor account and can receive an ATM/Debit card.
     

Minimum balance requirement:

  • Opening a 'Basic Savings Bank Deposit' account does not require any initial payment, and there is no need to maintain an average monthly balance.

Frequently Asked Questions

The eligibility for Basic Savings Bank Deposit Account is broad and inclusive. Eligible account holders include resident individuals (either sole or joint account holders), Hindu Undivided Families (HUFs), and customers who do not currently hold a BSBD account with any other bank or any other savings account with HDFC Bank. Additionally, minors aged 10 years and above can open a self-operated minor account and receive an ATM/Debit card. Notably, there is no requirement for an initial payment to open a BSBD account, and account holders are not obligated to maintain an average monthly balance. This flexibility makes the BSBD account accessible and convenient for a wide range of individuals and families.

Minors aged 10 years and above are eligible to open a self-operated minor account under the Basic Savings Bank Deposit Account (BSBD) scheme and can be issued an ATM/Debit card. This initiative allows minors to begin their financial journey and learn basic banking operations at an early age. The account provides young individuals with a means to save money securely and conveniently manage transactions through the use of an ATM/Debit card. This opportunity aims to promote financial literacy and responsible money management among young account holders, fostering a foundation for future financial independence.

The Basic Saving Deposit eligibility includes resident individuals, whether sole or joint account holders, as well as Hindu Undivided Families (HUFs). Additionally, customers who do not currently possess a Basic Savings Bank Deposit Account with any other bank or any other savings account with HDFC Bank are eligible. Furthermore, minors aged 10 years and above can open a self-operated minor account under this scheme and may receive an ATM/Debit card for transactions. The BSBD account offers a straightforward banking solution with minimal eligibility requirements, making it accessible to various individuals and families seeking basic banking services.