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HDFC Bank review

Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026

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Our verdict

HDFC Bank suits people who want a debit card and a deposit-backed credit card from one bank, with a monthly fee of INR 0 and a currency conversion fee of 0%. The catch is the separate credit card, whose APR of 42% makes revolving balances costly.

Key facts

Best for
One bank for a Mastercard debit card and a deposit-backed credit card.
Monthly fee
₹0↗
Currency conversion fee
0%↗
Free ATM withdrawals
₹0↗
Card type
Debit↗
Card network
Mastercard↗
Currencies
from 100↗
Legal entity
SBM Bank (India) Ltd.↗
Headquarters
India↗
Founded
2018↗
Support channels
Phone, Email, Help-centre↗
Features
Multi-currency, Travel, Virtual card
Official website
sbm.bank.in

Credit cards

Annual fee
₹0↗
APR
42%↗
Perks
Up to 45 days credit-free period, Credit limit up to 90% of fixed deposit amount, Fixed deposit continues to earn interest, UPI bill repayment in partner app↗
Card kind
Credit↗
Pricing model
No annual fee

Facts checked September 26, 2026, 6 sources

Apps and profiles

Elsewhere
LinkedInXyoutube.com

Pros and cons

Pros

  • The debit card is built for travel, multi-currency use and virtual cards, covering from 100 currencies.
  • The credit limit is secured against a fixed deposit that keeps earning interest while the limit is available.
  • Support runs on phone, email and help centre.
  • Payments run on the Mastercard network, and bills can be repaid through the partner app.

Cons

  • The credit card charges an APR of 42%, so revolving balances are the expensive part of the offer.
  • The free ATM withdrawal allowance is listed at INR 0 on the account.
HDFC Bank

Ready to try HDFC Bank?

Scored 9.0 / 10 by SumCue.

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Who it suits

  • People in India who want a Mastercard debit card for spending abroad across from 100 currencies.
  • Savers with a fixed deposit who want a credit limit without breaking the deposit.
  • Customers who want a debit card and a credit card from the same bank, with a monthly fee of INR 0.

Who should look elsewhere

  • Wise, if the priority is moving money across currencies rather than drawing on a credit card: its monthly fee is £0.
  • bunq, if you only want a standalone debit account with a monthly fee of €0 and no deposit-tied credit limit.
  • Varo Believe Secured Credit Card, if a secured credit card on its own is enough and a savings account plus debit card is more than you need.

How HDFC Bank compares

Where HDFC Bank is available

Available
India
Licence in India
Reserve Bank of India (RBI), checked September 26, 2026

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What does the debit card cost to run?+

The Classic Savings Account carries a monthly fee of INR 0, the debit card charges a currency conversion fee of 0%, and the listed free ATM allowance is INR 0. Payments run on the Mastercard network, so foreign spending avoids a conversion charge.

What does the credit card cost?+

The credit card charges an annual fee of INR 0 and an APR of 42%, so revolving balances are the expensive part of the offer. The card also carries a credit-free period on purchases, a limit set against the fixed deposit behind it, and bill payments through the partner app.

How does the credit card get its limit?+

The card is a credit card whose limit is secured against a fixed deposit, and that deposit keeps earning interest while the limit is available. Cardholders can pay bills through the partner app, so the deposit does not have to be broken to use the card.

What kind of card is HDFC Bank offering?+

It is a debit card built for travel, multi-currency spending and virtual-card use, and it covers from 100 currencies, so one card can handle several markets. Payments run on the Mastercard network.

Who regulates the bank?+

The card issuer is SBM Bank (India) Ltd., regulated in India by the Reserve Bank of India (RBI) and headquartered in India. It was founded in 2018, and the accounts and cards described here belong to that regulated entity.

What support is available?+

Account and card help is offered by phone, by email and through a help centre, so questions can be raised in writing or by call. The listed support channels are phone, email and help centre, which covers the routine queries most cardholders need.

How much do I need to deposit to get the limit?+

The credit limit follows the fixed deposit, so the deposit you place decides how much you can borrow. Running costs stay low at a monthly fee of INR 0 and an annual card fee of INR 0, which leaves the deposit as the main thing to agree.

Sources

Compiled from 6 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Protection.

HDFC Bank

HDFC Bank

One bank for a Mastercard debit card and a deposit-backed credit card.

9.0/10See alternatives