HDFC Bank cash deposit charges: A bank or a financial institution charges a servicing fee from individuals for various types of transactions, including depositing cash in your bank account.
These charges may vary based on the total amount deposited, account type (savings, current, business accounts, etc), branch type and denomination of notes. It may also depend on whether the deposit is made at a home branch or a non-home branch.
In many cases, banks offer a number of free deposits per month and charge additional fees if the transactions exceed the limit. Many banks also have charges for cash deposits through cash deposit machines (CDMs).
Let's see the cash deposit charges applicable to HDFC Bank account holders:
Current account
For a regular current account at HDFC Bank, deposits up to ₹2 lakh per month, or 25 transactions (whichever is breached first), are free at any HDFC Bank branch. After the free limit, ₹3.5 is charged per ₹1,000; a minimum of ₹50 is charged for any transaction.
At any non-home branch, the deposit limit is ₹10,000 per day. A 'home branch' refers to the specific branch where a customer initially opened the account.
For low denomination notes (₹50 and below), deposits of up to ₹10,000 are free per month, while 2% of the deposit amount is charged after the free limit. In coins, deposits are free up to ₹1,000 per month. Beyond the free limit, 5% of the deposit amount is charged if using coins.
HDFC Bank Regular Current Account Deposit Rules
| Category | Free Limit | Charges Beyond Limit |
|---|---|---|
| Home Branch Deposits | ₹2 lakh/month or 25 transactions (whichever is earlier) | ₹3.5 per ₹1,000 (minimum ₹50 per transaction) |
| Non-Home Branch Deposits | ₹10,000 per day | No further deposits allowed beyond ₹10,000/day |
| Low Denomination Notes (₹50 & below) | ₹10,000 per month | 2% of the deposit amount |
| Coins | ₹1,000 per month | 5% of the deposit amount |
HDFC Bank also offers an advanced version of a current account, known as a plus current account. For this account, up to ₹12 lakh per month, or 50 transactions, whichever is breached first, is free. Beyond this, ₹3.5 is charged per ₹1,000 with a minimum charge of ₹50 per transaction. For non-home branch deposits, up to ₹1,00,000 per day is free.
Savings account
Transaction limit rules: For a savings account, up to four cash transactions are free per month (including both cash deposits and withdrawals). Transactions of up to ₹2 lakh (cumulative cash deposits and withdrawals) can be made for free per month. Beyond this, a fee of ₹150 is charged per transaction.
Deposit limit rules: If the transactions exceed ₹2 lakh in a month, a charge of ₹5 per ₹1,000 will be applicable with a minimum charge of ₹150 per transaction.
Third-party cash deposit rules: Third parties can do cash transactions (deposits and withdrawals) of a maximum of ₹25,000 per day, with a charge of ₹150 per transaction.
HDFC Bank Savings Account Cash Transaction Rules
| Category | Free Limit | Charges Beyond Limit |
|---|---|---|
| Cash Transactions (Deposit + Withdrawal) | 4 transactions per month ₹2 lakh cumulative per month | ₹150 per transaction beyond free limit |
| Cash Deposit Amount | Up to ₹2 lakh per month | ₹5 per ₹1,000 (minimum ₹150 per transaction) |
| Third-Party Cash Transactions | ₹25,000 per day | ₹150 per transaction |
Senior citizens: For senior citizens and kids (third-party transactions), the limit is the same as third-party transactions (₹25,000), but no charge is applicable.
Cash Deposit Machines (CDMs) charges
HDFC Bank doesn't charge any particular charges for transactions through Cash Deposit Machines (CDMs), but an individual cannot deposit over 200 notes in a single transaction. The cash deposit limits are as per the account variants.