Features & Benefits of HDFC SavingsMax Account

By maintaining an average quarterly balance of just Rs. 25,000/- you get a host of premium services from HDFC Bank absolutely free*.

- Free BillPay & InstaAlerts for all account holders for lifetime of the account.
- Free Monthly Statement of Account.
- 50% off on the Locker rental for the 1st year only.
- Folio maintenance charges on Demat account free for first year.
- Free NetBanking, PhoneBanking & MobileBanking.
- Free Woman’s Advantage/International Debit Card for all account holders for lifetime of the account.
- Free Payable-at-Par chequebook, without any usage charges.
- Free Demand Drafts on HDFC Bank locations, upto a limit of
Rs. 1 lac per day.
- Free Passbook facility available at home branch for account holders (individuals).
- Free Email Statement facility .
- Free unlimited transactions: Cash withdrawal and balance enquiry, at all HDFC Bank ATMs & at all non HDFC Bank domestic ATMs using your HDFC Bank Debit Card
- Free Gold Debit Card for primary account holder for lifetime of the account. Gold Debit Card for other account holders at Rs 250/- p.a.
- Self/Third Party Cash Deposit/Withdrawal at non-home branches, upto Rs 50,000/- per day free. Above Rs 50,000 a charge of Rs 2.90 per thousand on the full amount would be applicable.
- Optional “MoneyMaximizer” (sweep- out) facility for conversion of your surplus money into high earning fixed deposits, at the threshold of Rs.1,25,000/- . In the event of the balance in SavingsMax account exceeding / reaching Rs.1,25,000/-, the amount in excess of Rs.1,00,000/- will be swept out in to a Fixed Deposit with a minimum value of Rs.25,000/- for a 1year 1day period *

Disadvantages of investing in a Fixed Deposit (FD)

- Low returns: Because FDs are very low risk instruments, they offer low returns comparable to alternative investment options

- Lock ups: Your money will be locked up in an fixed deposit for the duration of the deposit. As a result, unlike a savings back deposit, you will lose the flexibility access your funds as needed. You can break your FD if needed, but you will likely have to pay some penalty

- Unfavourable tax treatment: Unlike other investment options such as stocks or mutual funds, interest income earned from FDs will be taxable at your eligible tax rate.

ORIENTAL 1000 TERM DEPOSIT SCHEME

A Fixed deposit scheme that has a good rate of return. Deposit your money for 1000 days and see yor hard earned money grow. ORIENTAL 1000 TERM DEPOSIT SCHEME is created for people who believe in safe returs on their investments and can incorporated in portfolio as well.

Important attributes –

- The deposit tenure for ORIENTAL 1000 TERM DEPOSIT SCHEME is of 1000 Days.
- ORIENTAL 1000 TERM DEPOSIT SCHEME is valid for investments under Rs.1.00 Crore (The deposit received from customers can not be split under any circumstances to accommodate under this value band.)
- Nomination facility is available.
- Minimum deposit of Rs. 10,000.
- Rate of Interest for general public is 7.50% p.a. and for senior citizens is 8.00% p.a.
- There is no penalty levied on premature payment under Rs. 5 lakh.
- Tax liability under the IT department rules and regulations.