Understanding AMB Charges HDFC

AMB is the acronym for Average Monthly Balance. Most banks require you to maintain a certain balance in your account over a month. This is known as the average monthly balance. If you fail to maintain the required balance, AMB charges plus additional taxes are applied to you. In this article, we will specifically talk about AMB charges for HDFC and how you can avoid a negative balance in your account by being aware of it.

Calculation

HDFC takes the sum of the closing balance for all days in the month and divides it by the number of days in the month. Once this calculation is done, HDFC Bank will notify you within two months that you need to maintain the minimum balance. If you are unable to maintain this balance, the charge will be deducted directly from your savings account.

Requirements

The AMB requirements differ depending on factors like banks, account variants, and areas. Let me tell you about this in more detail with the help of a table:

Product	AMB Requirements
Regular Savings Account	AMB for Metro & Urban AMB Requirement - Rs. 10,000 or FD of Rs. 1 Lac for a minimum 1-year 1-day period Semi-Urban - Rs.5,000 or FD of Rs.50,000 for a minimum 1 year 1 day period AQB for Rural - Rs. 2,500 or FD of Rs. 25,000 for a minimum 1-year-1-day period.
Digisave Youth Account	Metro & Urban - Rs.5,000 Semi-Urban/Rural - Rs.2,500
Women’s Account/ Savings Mini	Metro & Urban - Rs.10,000 Semi-Urban/Rural - Rs.5,000
Senior Citizens Account/ Kids Advantage Account	AMB for Metro / Urban / Semi-Urban / Rural - Rs 5,000
Savings Max Account	AMB for Metro/ Urban/ Semi-Urban/ Rural - Rs 25,000 Or FD Relationship of Rs.1.5 lakhs in Metro/ Urban location. Rs.1 lakh in semi-urban/ rural locations.
Speciale Platinum	AMB for Metro/ Urban/ Semi-Urban/ Rural - Rs 3,00,000 Or FD Relationship of Rs 8 lakhs
Speciale Activ	Zero Balance basis standing instructions/ ACH of home loan EMI
Speciale Gold/ Speciale Senior Citizen/ Super Kids	AMB for Metro/ Urban/ Semi-Urban/ Rural - Rs 1,00,000 Or FD Relationship of Rs 4 lakhs
Family Savings Group	Rs.40,000

Usually, HDFC does not have any AMB requirements for salary accounts, making them an attractive option for those who work in corporate jobs.

If you are unable to maintain the minimum balance according to your account type, you will be subject to a non-maintenance charge of 6% of the shortfall from the average balance requirement or Rs. 600, whichever is lower.

Ways to Maintain an Average Monthly Balance (AMB) in Your Account:

Avoid AMB charges by monitoring your account regularly. Here are some ways to maintain your balance:

Opt for the sweep-in facility: HDFC offers a sweep-in and sweep-out facility with fixed deposits on specific savings account variants. This automatically dissolves your FD and transfers the amount needed to meet the shortfall.

Set up automatic transfers: Set standing instructions for automatic transfers to your savings account. For example, if you hold a salary account with another bank, schedule regular transfers to maintain your balance.

Track your balance: Keep track of your expenses and balance using UPI apps or net banking to avoid AMB charges.

Also, check: How to Check E-Mandate in HDFC Bank

Wrapping Up

This was all about AMB charges HDFC Bank. You can easily avoid these charges by being aware of the bank’s policies, rules, and regulations. These charges are updated from time to time, so always monitor your bank account and track your balance. If you have any queries, you can easily contact the HDFC bank’s customer care service to assist you.

About the Author

Khushi Singla

As a writer, my task is not only writing but making tough topics easy to understand. I have the ability to connect with the readers and deliver them the best piece of writing.

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