HDFC Bank on Monday announced the launch of two new savings account variants—’Max for Seniors’ and ‘Max for Her’—under its flagship Savings Max account, offering a range of customized banking, insurance and lifestyle benefits for senior citizens and women.
The bank said the new offerings have been designed to meet the evolving financial and lifestyle needs of the two customer segments. According to official estimates, India’s senior citizen population is projected to reach around 230 million by 2036, while women currently account for nearly 39.2 per cent of all bank accounts and 39.7 per cent of total deposits.
The ‘Max for Seniors’ account offers benefits including cyber fraud insurance cover, higher returns through the Auto Sweep facility, an additional 0.5 per cent interest on fixed deposits, doorstep banking, complimentary airport lounge access, personal accidental death cover linked to the debit card, and a waiver on the first year’s Demat account annual maintenance charges.
The ‘Max for Her’ account provides lifestyle vouchers, complimentary health check-ups, airport lounge access, Auto Sweep facility, personal accidental death cover, accidental death insurance cover of up to ₹10 lakh, and a 50 per cent concession on locker charges, among other benefits.
The bank said both account variants also include industry-first features such as cyber fraud protection and hospitalization cover of up to ₹1 lakh, subject to applicable terms and conditions.
Commenting on the launch, Ashish Parthasarthy, Group Head – Branch Banking, Payments, Treasury, Liability Products, Marketing, Virtual Channels and Infrastructure, HDFC Bank, said the initiative reflects the bank’s focus on offering customer-centric products that address the changing needs of different segments while enhancing security, convenience and long-term financial well-being.
The bank added that customers opting for its Premium Speciale Savings suite for senior citizens and women will also have access to enhanced cyber protection, curated lifestyle privileges and additional value-added banking benefits. [KNT]
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