HDFC Bank Kids Debit Card – Benefits, Fees & Eligibility

Introduction

The HDFC Bank Kids Debit Card is positioned as an entry-level financial tool designed to introduce children to money management in a secure and controlled environment. It offers enhanced daily shopping limits of ₹10,000, the convenience of no-cost EMI on leading consumer goods brands, and secure transactions through encrypted technology. This card aims to foster financial literacy while providing practical benefits and parental oversight.

Fees

• ATM Card: Free
• ATM Card - Replacement Charges: ₹200 (w.e.f 1st Dec'14)
• Kids Advantage Debit Card - Issuance / Annual Fee: ₹150
• Kids Advantage Debit Card - Renewal Fee: ₹150
• Debit Card - Replacement/Reissuance Charges: ₹200 + applicable taxes (for all card types) (w.e.f 1st Dec'14)
• PIN Regeneration Charge: Nil
• Airmiles Conversion through NetBanking: ₹0.25 airmiles
• Non-maintenance of Average Monthly Balance (AMB) of ₹5,000:
  • For AMB >= ₹2,500 - < ₹5,000: ₹150 service charge
  • For AMB 0 to < ₹2,500: ₹300 service charge
• Fuel Surcharge: Not applicable for transactions done on HDFC Bank swipe machines at government petrol outlets (HPCL/IOCL/BPCL) effective 1st January 2018.

Rewards

• Spend Limits:
  • Enhanced shopping spends of ₹10,000 per day at merchant locations.
  • Withdrawal limits of ₹2,500 at ATMs per day.
  • Cash withdrawals up to ₹2,000 per day are available at merchant establishments.
• EMI Benefits:
  • Enjoy No cost EMI on leading brands across electronics, furniture, apparel, smartphones, and more.
  • Convert any purchases above ₹5,000 into EMI.
• CashBack:
  • Earn Upto 5% CashBack on your Debit Card on transacting through PayZapp & SmartBuy.
• Insurance Benefits:
  • Items purchased using the Debit Card are insured with a sum assured of up to ₹2 lakh.
  • Zero liability in case of any fraudulent Point of Sale transactions on the Debit Card up to ₹4 lakh.
  • Complimentary Insurance on international travel against intrinsic value of accompanied personal baggage.
• Transaction Security & Convenience:
  • Bank-grade encryption allows for seamless, contactless transactions.
  • Contactless Payments are enabled at retail outlets. In India, payments up to ₹5,000 do not require a PIN, while transactions equal to or higher than ₹5,000 require a PIN for security.
• Financial Literacy & Parental Controls:
  • Encourages financial literacy with controlled spending limits and parental controls.
  • Offers exciting discounts on kid-friendly categories and personalised designs.

Rewards Redemption Guide

• Reward Points can be viewed and redeemed at the push of a button via the unified Card Management & Control platform.
• Reward Points can also be checked through the MyCards mobile-based service platform.

Card Eligibility Criteria

• Age: Can be issued to individuals between 0 to 18 years of age.
• Applicant Type: Both Residents and NREs can apply.
• Account Requirement:
  • Resident Indians should hold a Savings Account and a Kids Advantage Saving Account with HDFC Bank.
  • A Kids Advantage Account can be opened for a minor (up to 18 years of age) as long as the parent/guardian has a Savings Account with HDFC Bank.
  • Minors above the age of 10 years are eligible to open a self-operated minor account, and an ATM/Debit card can be issued to them.
• Minimum Average Monthly Balance: A minimum Average Monthly Balance requirement of ₹5,000/- must be maintained in the Kids Advantage Saving Account.
• Documents Required:
  • For existing HDFC Bank Account holders: Download, print, and fill the application form, then submit it at your local HDFC Bank branch.
  • For self-operated HDFC Bank Kids Advantage Account: Duly filled and signed e-Age form.
  • For non-self-operated HDFC Bank Kids Advantage Account: Duly filled and signed e-Age form and a Minor Guardian declaration form.

Card Review

The HDFC Bank Kids Debit Card is an excellent tool for parents looking to introduce their children to financial responsibility and money management. It provides a secure and convenient way for children to handle their money, offering controlled spending limits and robust parental controls. The card's benefits, such as enhanced daily spending limits, no-cost EMI options, and cashback on transactions via PayZapp & SmartBuy, add significant value. The included insurance benefits, like zero liability on fraudulent transactions and purchase protection, provide peace of mind. While there is an annual fee and a requirement to maintain an average monthly balance, the educational aspect and practical features make it a worthwhile option for fostering financial literacy in children. It is particularly suitable for existing HDFC Bank customers with children aged 0-18.

Important Product Details

• Daily Limits:
  • ATM withdrawal limit: ₹2,500 per day.
  • Merchant location spend limit: ₹10,000 per day.
  • Cash withdrawals at merchant establishments: Up to ₹2,000 per day.
• EMI Facility: No cost EMI on leading brands; convert purchases above ₹5,000 into EMI.
• CashBack: Up to 5% CashBack on transactions via PayZapp & SmartBuy.
• Insurance & Security:
  • Zero liability on fraudulent Point of Sale transactions up to ₹4 lakh.
  • Purchase protection insurance up to ₹2 lakh.
  • Complimentary international travel baggage insurance.
  • Bank-grade encryption for secure, contactless transactions.
• Contactless Payments: Enabled for transactions up to ₹5,000 without PIN, and above ₹5,000 with PIN.
• Card Management & Controls (via MyCards):
  • Debit Card Registration & Activation.
  • Set up Card PIN.
  • Manage Card Controls (e.g., Online Spends, Contactless Transactions).
  • View Transactions / Download e-Statements.
  • Check Reward Points.
  • Block/Re-Issue Card.
  • Apply for an Add-on Card, Manage, Set PIN, and Card Controls for Add-on card.
• Fees:
  • Issuance / Annual Fee: ₹150.
  • Renewal Fee: ₹150.
  • Replacement charges: ₹200 + applicable taxes.
• Account Requirement: Minimum Average Monthly Balance of ₹5,000 must be maintained.
• Default Usage Restrictions (for cards issued post-Oct 1, 2020): By default, cards are enabled only for Domestic usage (PoS & ATM) and disabled for Domestic (E-commerce & contactless) and International usage. These can be enabled or modified via MyCards, NetBanking, Mobile Banking, WhatsApp Banking, Ask Eva, or toll-free numbers.

Other Details

• The card uses encrypted technology for secure transactions.
• A single, unified platform is available to manage all banking and financial needs.
• A user-friendly interface allows tracking of all spends.
• To check the pre-approved eligible EMI amount on your Debit Card, SMS "MYHDFC" to 5676712 from your Bank Registered mobile number.
• Important Terms and Conditions for banking offerings are available digitally.
• Customers travelling overseas can reach the bank at 022-61606160.