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HDFC Bank Instant Savings review

Open a HDFC savings account from the comfort of your home.

HDFC Bank’s Instant Savings account is a completely digital savings account that offers almost all the perks of a regular savings account from the comfort of your home. Choose from multiple account types and find the one that best suits your needs.

All you need to open an account is your Aadhar card, PAN card and a few minutes of your time.

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Account Service


Average Monthly Balance (AMB)


Product NameHDFC Bank Instant Savings
Annual Account Service₹0
Average Monthly Balance₹0
How to openMobile, Website
Fund TransferN/A
Mobile paymentsSamsung Pay
More Info

How does the HDFC Bank's Instant Savings account work

HDFC Bank’s Instant Savings account, also known as InstaAccount, is a completely digital savings account that brings the banking experience to your home. It uses a limited KYC process that lets you create a bank account within five minutes using just your mobile number, ID proof, and PAN Card.

You can choose among multiple account types to find the right one that best suits your needs. Online banking services like NetBanking and MobileBanking are auto-enabled for HDFC Bank’s Instant Savings Account. This means you can start adding funds and making bill payments via the account instantly.

Key features

  • Quick account opening. Open a new bank account in just four easy steps. All you need is your mobile number, PAN card and Aadhaar card details.
  • Instantaneous account number and customer ID. Get your account number and customer ID information as soon as you are done opening your account.
  • Cardless cash withdrawal. Withdraw money from any HDFC Bank ATM without a debit card. Just choose the cardless option and follow the instructions.
  • Auto-enabled online banking facilities. Once your account has been created, immediately get access to HDFC’s net banking and mobile banking services.
  • Automatic bill payments and recharge. Set up automatic payments of recurring bills from your InstaAccount.

Fees and limits

Although there is no cost associated with opening an HDFC Bank Instant Savings account, there are certain fees and limits that you should be aware of:

  • The balance requirement will be as per the account type you select for the InstaAccount Journey. For example, a salary account may have zero minimum balance requirement while a normal savings account may have a minimum balance requirement of ₹25,000.
  • Your account balance cannot exceed ₹1 lakh at any given point in time.
  • The annual credit limit for the InstaAccount, in a financial year, cannot exceed ₹2 lakh.

Pros and cons


  • Minimal documentation during account opening. Set up your account in less than 5 mins. All you need is a mobile number, an Aadhar card, a PAN card and an internet connection.
  • Cardless cash withdrawals. Make cash withdrawals at any HDFC Bank ATM without a physical debit card.
  • Instant access to online platforms. Carry out your transactions on the go using net banking and mobile banking platforms.


  • The account is only valid for a year. If it is not converted to a regular savings account within a year, your account will be blocked.
  • Account balance cannot exceed ₹1 lakh. Your account balance cannot exceed ₹1 lakh at any given point in time.
  • Annual credit cannot exceed ₹2 lakhs. Your annual credit to the account, in a financial year, cannot exceed ₹2 lakhs.

The verdict

The HDFC Bank’s Instant Savings account is a great option if you are looking for a savings or salary account that is quick and easy to set up. Once the account is created, you can start using its online banking facilities to make bill payments and cardless cash withdrawals.

However, the account comes with some major limitations. For example, the maximum allowed balance at any point in time is ₹1 lakh. Also, the InstaAccount is only valid for one year after which you must complete the KYC requirements and convert the account into a regular savings account of your choice. If you fail to do so, your account will be blocked.

How to sign up

To open an HDFC Instant Savings account simply visit the HDFC Bank’s Instant Savings account page or download the HDFC Bank Instant Account app to get started.

Eligibility criteria

  • You need to be above 18 years of age.
  • You should be a citizen and resident of India, with an Indian residential address.
  • You should not have an existing HDFC Bank Savings or Salary account.

Required documents

Make sure you have the following documents on hand when applying:

  • Mobile number
  • PAN card number
  • Aadhaar card number

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