GIGA Savings Account by HDFC Bank

GIGA by HDFC Bank gives one more reason to go digital. A lower initial deposit requirement is applicable for customers opening their account. For GIGA Savings accounts opened digitally/online, customers can start their account by depositing lower amounts than the required Average Quarterly Balance (AQB).

Non maintenance charges

For other charges: Click here 

• New hassle-free ways to avoid Non-Maintenance Charges! 
  
  
• Fixed Deposit Power: Hold an FD for 1 year and 1 day with at least ₹1,00,000 (metro & urban branches) and ₹50,000 (Semi -urban/Rural branches)
• OR
• Swipe and Thrive: Spend ₹1,50,000 online with your GIGA Business Debit Card in the same quarter 
• OR
• Smart Transactions: Do any  two  of these in the same quarter:
•  Auto Pay your Credit Card or Bills *
•  Start a SIP (min ₹3,000**) .
•  Start a Recurring Deposit (min ₹3,000, 12-month tenure**)
•  Pay your GST, CBDT, or Custom Duty from your GIGA account
•  Set up an EMI on any HDFC Bank loan*** from your GIGA account
• OR
• Get Credited: Receive ₹2,50,000 in your GIGA account in the same quarter^.
• OR
• Prefer the traditional way?
• You still have the option to maintain an Average Quarterly Balance (AQB)
• Disclaimer:
• * Autopay should be enabled for all 3 months in the relevant calendar quarter 
• **Debits for RD and SIP to occur for all 3 months in the relevant calendar quarter, for the minimum deposit amount 
• *** Debits for EMI from GIGA account should happen at least once in the relevant quarter for any HDFC Bank loan 
• ^All customer induced credit transactions only 

• an online account can be opened in the name of one individual only. Visit the nearest branch to add joint account holders.
• To activate your account, VKYC process is necessary. Click here to know more about the Video KYC

Anyone working in the Gig economy, e.g. Gigsters, self–employed professionals, independent workers, contractual employees, etc., who are:

• An Indian resident
• And aged 18 years and above.

You can simply click here to open GIGA Savings Account. 

To open an account online, you will need:

• Valid Aadhaar Number
• Valid PAN
• Mobile Number linked to Aadhar

Visit any HDFC Bank branch and furnish other forms of ID and address proof to open your account. Commonly accepted forms of ID and address proof are as follows:

• Valid Passport (ID and address proof)
• Voter's Identity Card issued by the Election Commission of India (ID and address proof)
• Valid Permanent Driving license (ID and address proof)

You need to maintain a Average Quarterly Balance (AQB) of ₹ 25,000 if your account is attached to metro/urban branches and ₹ 10,000 if your account is attached to rural branches.

Yes, please refer to below fees and charges of GIGA by HDFC Bank Savings Account.
 

The interest rate on the GIGA Savings Account may vary based on your account balance. HDFC Bank account holders enjoy attractive interest rates, with the interest amount getting crediting quarterly. You can click here to view the latest prevailing rates.

Yes, the account can be opened in joint names, however you must visit the nearest branch to add other names to the account.

Yes, you can open GIGA Savings Account by providing your GST number

This account does not require you to maintain a monthly balance. You need to maintain Average Quarterly Balance (AQB) of ₹25,000 (Metro/Urban areas) and ₹10,000 (Semi-Urban/Rural areas).

Non-maintenance charges are as per guidance from Reserve Bank of India (RBI):

• For Metro & Urban areas: 6% of the shortfall from the Average Quarterly Balance requirement OR ₹600 (whichever is lower).
• For Semi-Urban/Rural areas:6% of the shortfall from the Average Quarterly Balance requirement OR ₹300 (whichever is lower)

EXAMPLE:

Metro resident:

• Average Quarterly Balance (AQB) requirement: ₹25,000
• Actual balance maintained: ₹18,300
• Shortfall in balance maintained: ₹6,700
• Non-maintenance charge (6% of shortfall): ₹402