Call Account FAQs
What is a Call Account?
A Call Account is a type of bank account that offers the functions of both, a Savings Account and a Current Account. Like a Savings Account, you can earn interest on your account balances. Moreover, like a Current Account, you can withdraw the funds as many times as you want without limits. The funds in a Call Account are available on call, hence the name. Non-Resident Indians and foreign nationals can open a Call Account in India with HDFC Bank’s Call Accounts for GIFT City.
What is the benefit of a Call Account?
A Call Account gives you the freedom to use your account funds at your will. This can be beneficial for instances where you need to withdraw money frequently. Also, with an HDFC Bank GIFT City Call Account, you are not required to maintain a minimum balance.
What is the difference between a Call Account and a notice account?
A notice account is a type of bank account that requires you to notify the bank of a withdrawal in advance. The notice period will depend on the account type but it’s generally 30 days to 120 days. A notice account typically comes with a limited number of withdrawals in a year. It may also have a fixed term, after which you can access funds in your account at any time you desire.
On the other hand, a Call Account gives you the flexibility to withdraw funds from the account at any time. You are not required to notify the bank or wait before you make a withdrawal. Call accounts do not have a fixed tenure.