What happens if HDFC account balance goes negative?

What happens if HDFC account balance goes negative?

HDFC Bank, for example, doesn’t charge any fee if the customer closes the account within 14 days. If the account is closed between 15 days and six months, it charges ₹500, and ₹250 if it’s closed between six months and one year, according to its website.

How can I remove negative balance from my bank account?

How to Recover From Being Overdrawn on Your Bank Account

1. Understand Your Bank’s Overdraft Fees.
2. Stop Using the Account.
3. Balance Your Account.
4. Bring Your Account Balance Positive As Soon As Possible.
5. Talk With a Bank Representative.
6. Take Steps to Avoid Future Overdrafts.

How much does HDFC charges for not maintaining minimum balance?

Minimum Balance Requirements

Balance Non-Maintenance Charges*
AMB Slabs (in Rupees)	Metro & Urban	Semi Urban
>=5,000 to < 7,500	Rs. 300/-	NA
>=2,500 to < 5,000	Rs. 450/-	Rs. 150/-
0 to < 2,500	Rs. 600/-	Rs. 300/-

How can I close my HDFC account without paying negative balance?

To close your account in an easy way, ensure that you drain out all the funds parked in your account. The easiest way to do this is through net banking. Simply transfer all the money to some other account through NEFT, RTGS or IMPS. The balance in your account should be Zero.

Why my HDFC salary account balance is negative?

Savings accounts usually go into negative balances when the customer changes his job and his ‘salary account’ ceases to receive funds. Since there is no regular salary flowing in, The bank begins to debit a penalty for non-maintenance of minimum balance, which often results in the balance turning negative.

Can you go to jail for negative bank accounts?

Overdrawing your bank account is rarely a criminal offense. It depends on your intentions and your state’s check fraud laws. According to the National Check Fraud Center, all states can impose jail time for overdrawing your account, but the reasons for overdrawing an account must support criminal prosecution.

What happens if you dont maintain minimum balance?

Most banks require their customers to maintain a minimum balance in their account. They charge their account holders for the non-maintenance of minimum average balance (MAB). If customers fail to maintain this balance, they will have to pay a penalty of up to Rs 75 – every month!

What happens if I don’t maintain minimum balance in HDFC Bank?

For your question if you don’t maintain minimum balance in your HDFC or any saving account in any bank, they are going to levy charges on the same. It will be on everyday basis. The amount of charge levied depends on bank to bank. you must get the update from bank on the same.

How can I Close my HDFC savings account with negative balance?

You doesn’t need to pay a single penny if you wish to close your account. Visit to your local branch, ask the Hdfc employees to close your savings account. He will surely inform you that since you have negative balance, they cannot close your account unless you pay the outstanding balance.

Will a negative savings account affect my CIBIL score?

Any negative savings balance is not going to affect your CIBIL score in any condition as CIBIL is completely based on the Credits utilizes by you under the conditions of loans. Example: Any type of loan provided by Banks or Non banking financial Companies or the Credit Cards. CIBIL doesn’t includes your savings account history.

What is the average monthly balance of HDFC Bank in India?

HDFC Bank has set an average monthly balance of ₹ 10,000 for the regular savings accounts in its metro and urban branches. In its semi-urban branches, customers are required to maintain a monthly average (AMB) of ₹ 5,000 in their regular savings accounts, according to the HDFC Bank website.