HDFC Current Account: The Bank You Should Know About

Last Updated on December 6, 2021

A current account is essential to a business, just like a savings account matters to an individual. It is due to the exclusive features and facilities it provides. So, banks have made it a priority, owing to the extensive income generated. And the top bank in India is HDFC Bank. So, you will get to know about the current account that HDFC Bank offers.

Before coming to the main topic, let’s understand HDFC Bank first.  

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About HDFC Bank

The majority of you would have heard about HDFC Bank. No wonder it is the largest private sector bank in terms of assets and market capitalization. Incorporated in 1994 in Mumbai, it has 5500 branches across the country. It serves around 62 million customers as of now. Its activity has reached such an extent that RBI had to ban it from issuing new credit cards. But the RBI lifted the ban recently.

We hope that you know about it. Now, let’s look at the type of current account that HDFC Bank offers.

Types of HDFC Current Account

As the bank is the top player in the private sector, it would be evident that they have an enormous customer base. So, it is only natural that the group offers all financial products. Be it banking, insurance, brokerage, and whatnot! And the case with HDFC Bank is no exception. They have current accounts for everyone. They are as follows:

Max Advantage Current Account

As the name suggests, it offers the maximum advantage to the customer. Here are some exciting features.

  • Cash Deposit and Cash Withdrawal Limit is 12 times of average monthly balance. So, you get higher limits based on the balance you maintain. And the limits extend up to Rs 75 cr.
  • Free demand drafts up to 30 Lakhs.
  • Even the free cheque leaves and the transactions depend on the average balance. For every 1 Lakh balance, you get 100 free cheque leaves and 150  transactions. It is an elegant incentive.
  • Free Business Debit Card
  • Free NEFT and RTGS transactions. Even IMPS transactions are free.
  • NetBanking and MobileBanking for easy access and transaction processing

Besides banking services, it also offers value-added services

  • Digital Payment and collection through POS, BHIM UPI, Bharat QR, and Payment gateway
  • Digital solution to manage payments and collections
  • Complimentary cheque and cash pick-up services, once a day.
  • Instant Alerts, Billpay, and standing instructions
  • The minimum quarterly balance is Rs 5 Lakhs. So, it is suitable for big traders, manufacturers, etc.
  • The non-maintenance charge is Rs 8000. But the bank can waive it (subject to terms and conditions).

Note: You won’t get the freebies if the average balance falls below 75% of the minimum balance. So, make sure to maintain the balance regularly to get the ‘max advantage’ of the account.

Ascent Current Account

It is a replica of the above account with reduced facilities. But the minimum balance is just Rs 50k. That is why it is suitable for traders, manufacturers, and distributors. Here are the features:

  • All value-added services of the Max Advantage Account
  • Cash Deposit and Cash Withdrawal Limit is ten times the average quarterly balance, up to 50 Cr.
  • Free 100 cheque leaves and 150 transactions for every 1 Lakh balance maintained. Even demand drafts depend on this limit (50 DD per 1 Lakh AQB)
  • Free of cost business debit card. 
  • RTGS and NEFT transactions without any charges
  • Waiver of non-maintenance charges (T&C apply)
  • A unique feature is that there are pre-approved credit lines. So, you can get a loan instantly.

Activ Current Account

HDFC Bank provided all the features of Advantage Current Account with a lower minimum balance. Philanthropist or foolish, make of it what you will. But they don’t stop here.

  • The Activ Current Account has the same features as above, except free 30 DD per 1 lakh.
  • But the minimum balance is just Rs 10k! So, it is best suited for retailers and merchants.

Plus Current Account

All the above accounts provide the best customer experience. But they don’t give forex-related services. So, plus current account considers it. Here are the key features:

  • Cash Deposit Limits up to Rs 10 Lakhs per month.
  • Free cheque collection and payment
  • Free RTGS and NEFT transactions
  • 50 DD and PO per month, free of cost
  • Free 300 cheque leaves

Other services include:

  • Free monthly account statement and instant alerts
  • Real-time information and customized MIS with Cash Management Services
  • Bulk payments to vendors and employees hassle-free
  • Forex services like traveler’s cheque and Forex Cards.

As it permits forex services, it is suitable for EXIM traders. The minimum balance requirement is Rs 1 Lakh.

Premium Current Account

In this account, the free limits are way less than others. But the bank charges are competitive. Here are some features:

  • Cash Deposit Limit up to Rs 3 Lakhs per month
  • Cash withdrawal up to Rs 25k at non-home branch
  • 100 free cheque leaves per month
  • Demand drafts and pay orders at nominal costs
  • Doorstep banking available
  • NetBanking and MobileBanking facilities

The minimum balance requirement is Rs 25k. Due to nominal charges, it is best for the day-to-day operations of small businesses.

Regular Current Account

It is the most basic variant of all. It is like the premium account, with fewer limits and minimum balance requirements (Rs 10k). Due to their low minimum balance requirements, they are affordable for single-city businesses.

Smartup: Smart Solution for Startups

To bring out the entrepreneur in you, HDFC Bank has introduced the Smartup Current Account. It has collaborated with various colleges having their dedicated startup organizations to fulfil their goals.

There are two accounts: Alpha and Max Current Account. They are suitable for different stages of your startup journey. But both of them has:

  • Free RTGS/NEFT transactions
  • Debit cards with cashback points
  • Cash deposit limit of 12 times of AMB.

Besides the current account, they also offer:

  • Payment collection and bulk payment services
  • FD backed credit card
  • Depository services
  • Insurance cover
  • Expense and Cash Management Services

To know about them in detail, click here.

Saksham Current Account

All of the above current accounts have a minimum balance requirement. Else, you have to pay non-maintenance charges. But that is not the case with this account. You can enjoy the facility of a zero-balance current account for the first year.

Besides this facility, it has the following features:

  • Cash Deposit Limit up to Rs 50 Lakh per month
  • Free Cash withdrawal up to Rs 1 Lakh a day
  • Free DD and PO
  • 500 cheque leaves per month free of cost
  • Free NEFT/RTGS transactions 

It also offers value-added services like pre-approved loans, doorstep banking, instant alerts, and standing instructions.

Business Solution for E-Commerce Industry

Due to the rapid digitalization in 2020, the e-commerce industry has gained a boost. Now, people prefer shopping online instead of facing the trouble of physical shopping.

So, banks are also supporting the e-commerce industry. And HDFC Bank is no different. It has developed a customized account to fulfil the needs.

  • Its key attractions are the escrow and the nodal accounts.
  • The other facilities are more or less the same, as compared to others.
  • It also provides value-added services.

You can read here about them in detail.

Current Account for Professionals

The business model of a professional is way different from that of a businessman. So, it is only natural that they have a personalized account for their needs. Hence, this account is the solution. It has the following features:

  • Cash Deposit Limit of Rs 10 Lakh per month
  • 50 free cheque leaves per month
  • 30 free Demand Drafts and Pay Orders per month
  • Doorstep banking available
  • NetBanking and MobileBanking available 24*7

The minimum balance requirement is Rs 10k.

Agri-Business Account

Farmers are the backbone of the country. Can you imagine the plight when this backbone breaks? To prevent this, HDFC Bank has made a separate current account for farmers, including the seasonal farmers.


  • Well, there is a minimum balance requirement of Rs 10k.
  • But the bank waives off the non-maintenance charges for non-business months.
  • Besides this unique facility, it also offers NetBanking, MobileBanking, and Doorstep Banking facilities.
  • Cash deposits are free up to Rs 10 Lakh a month.
  • And free cash withdrawals are unlimited.

 Institutional Current Accounts

It is suited for institutions like trusts, societies, and associations.

  • The best thing is that it is a zero-balance account without any time restrictions.
  • And there are free DD and PO facilities without limits.
  • You also get specialized Forex and Cash Management services and bulk payments.
  • Other facilities include a cash deposit limit of Rs 50 Lakh/month.
  • You also get free cheques (500 p.m.), account statements, and instant alerts.

Resident Foreign Currency (RFC) Domestic Account

Exports are the primary source of earning foreign exchange. But the payment you will receive will be in forex, won’t you? The other accounts don’t have such a facility. So, you have to open an RFC Account to keep forex.

  • Here, you can open an account in three currencies: USD, EUR, and GBP.
  • This way, you will be able to retain the forex you earned from exports.
  • If you don’t want that, you can convert it into INR in your savings or current account. And that too at preferential rates.
  • You also have the facility to track your funds for better decision-making.

But remember to comply with the provisions of RBI.

Exchange Earners Foreign Currency (EEFC) Account

It is similar to the RFC Domestic Account. But it supports only three currencies. What if you wish to trade with other nations? That is where the EEFC account comes to your rescue.

  • It has all the features of the RFC Account.
  • But it supports 17 currencies. So, you can trade across the borders without any hassle of banking.

Closing Words

HDFC Bank, being at the top position, offers a variety of services. And it can be seen in their current accounts as well. There are generic bank accounts for regular businesses. But it also caters to the needs of specific organizations like startups, e-commerce, professionals, etc.

In the end, keep in mind your requirements while choosing the apt current account for your business.

Frequently Asked Questions

Q1: What are the benefits of HDFC Bank Current Account?

Each current account has its benefits. But you will observe that they have provided various facilities, even with low minimum balance requirements.

Q2: Which HDFC bank’s current account is the best?

There is no hard and fast rule regarding the same. It depends on your needs. But the max advantage account is the best if you can maintain the high minimum balance. Else, you can go with Ascent or Activ Current Account.

Q3: Can we open the account online? If yes, how to open a current account in HDFC?

Thanks to the pandemic, all banks have provided the facility of online account opening through e-KYC. You have to fill the form and upload the necessary documents to open one. Click here to know the list of documents required.

Q4: Is HDFC bank safe?

Due to the recent bank frauds, safety has become a crucial issue. But don’t worry. It constantly updates its security features to provide a safe banking experience.


By Prasuk Jain

I am an inquisitive and tenacious person with a mix of enthusiasm and a positive attitude, currently pursuing CA.

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