HDFC Bank
HDFC Bank Limited, incorporated in 1994 and headquartered in Mumbai, is one of India's largest private-sector banks. As of May 2026, the bank operates a network of 6,500+ branches and 17,000+ ATMs across India. HDFC Bank was the first private bank to receive an 'in principle' approval from the Reserve Bank of India (RBI) to set up a private sector bank in 1994, and has since been a consistent leader in retail banking, digital banking, and corporate payroll services. The HDFC Bank Salary Account is a zero-balance savings account designed for salaried employees whose employer has a corporate tie-up with the bank. Account holders earn 3.5% p.a. interest on daily balances, while the Monthly Average Balance (MAB) requirement is fully waived as long as the salary credit from the employer continues. The account is governed by the RBI's Master Direction on Interest Rate on Deposits and follows the RBI savings account norms on deposit insurance — up to ₹5 lakh per depositor under DICGC. Salary account holders receive a complimentary HDFC Bank Platinum Debit Card, which offers higher ATM withdrawal and POS limits than a regular savings account debit card, plus access to HDFC Bank's premium merchant offers. The account integrates seamlessly with HDFC Bank Mobile and HDFC Bank NetBanking, supporting UPI, IMPS, NEFT, and RTGS transactions. Free unlimited NEFT, RTGS, and IMPS transfers are processed across the bank's own channels and the RBI's interoperable payment rails. A bundled personal accident insurance cover of ₹2 lakh (death cover due to accident) comes at no extra premium with the salary account, covering the account holder across India and overseas. Salaried customers also receive a free passbook facility at any of the 6,500+ HDFC Bank branches, free SMS and email alerts for transactions above a small threshold, and a dedicated salary account contact line. The account supports standing instructions, ECS mandates, SIPs, mutual fund mandates, insurance premium auto-pay, and home loan EMI debits directly from the salary credit. If the employee changes jobs, retires, or stops receiving salary credits from a corporate-tieup employer, the HDFC Bank Salary Account is automatically converted to a regular HDFC Bank Savings Account, after which the standard MAB and charges of that product apply. Until that auto-conversion, all salary-specific benefits — zero-balance status, premium debit card, accident cover, and free digital transactions — continue uninterrupted. The HDFC Bank Salary Account is best suited for permanent employees of HDFC Bank's corporate tie-up organisations across IT/ITES, BFSI, manufacturing, and the public sector. Source: HDFC Bank official website, updated May 2026.
| Feature | Details |
|---|---|
| Interest Rate | 3.5% p.a. |
| Minimum Balance | ₹0 |
Review the eligibility criteria below. Most savings accounts require Indian residency, valid KYC documents, and a minimum age of 18 years.
Click "Apply Now", fill in your details, and complete KYC via Aadhaar eKYC, video call, or by uploading self-attested documents.
Once KYC is verified, your account is activated within 1–3 working days. You will receive your account number and can start transacting immediately.