HDFC Bank gains on levying charge on non-operational accounts

11 Jan 2012 Evaluate

HDFC Bank is currently trading at Rs. 463.30, up by 3.85 points or 0.84% from its previous closing of Rs. 459.45 on the BSE.

The scrip opened at Rs. 462.00 and has touched a high and low of Rs. 463.50 and Rs. 455.15 respectively. So far 111648 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 519.50 on 19-Jul-2011 and a 52 week low of Rs. 396.00 on 09-Feb-2011.

Last one week high and low of the scrip stood at Rs. 463.50 and Rs. 438.65 respectively. The current market cap of the company is Rs. 107817.56 crore.

The promoters holding in the company stood at 23.23% while Institutions and Non-Institutions held 40.27% and 19.15% respectively. 

HDFC Bank, the country's second largest private sector lender has levied charges of Rs 50 on quarterly basis for a non-operational savings and current account of over a year. The changes come into effect from January 1, 2012. 

The bank charges no cash handling fee for deposits of up to Rs 1 lakh in a day at home branch for ‘non-managed customers’, amounts above this level attracts a charge of Rs 25 per Rs 50,000 and part thereof for such clients. Further, non managed customers are those clients who do not have a private banking or wealth management account with the bank.

Moreover, the lender will charge Rs 100 each for its photo attestation, signature attestation and address confirmation. If the average monthly balance (AMB) of saving account in urban and metro branches is between Rs 5,000 to Rs 10,000, the bank would charge Rs 250 per month. If AMB is less than Rs 5,000, then Rs 350 per month would be levied.

It is to be noted that all banks including public sector lender levy charges if monthly average balance is less than a stipulated level. As per Finance Bill 2009, all fees and charges will attract 10% service tax and education cess of 3% of the service tax amount.

HDFC Bank Share Price

1712.35 2.05 (0.12%)
07-Jan-2025 09:25 View Price Chart
Peers
Company Name CMP
HDFC Bank 1712.35
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