HDFC has partnered with MobME, a Kochi-based technology firm to launch this app, the bank officials said.
Chillr is a first of its kind application that is linked directly to the customer's bank account, so there is no need to worry about filling up a prepaid wallet, they said, adding that no passwords are stored on the phone and it can be accessed only with M-PIN known to the customer alone.
"This Chillr app will benefit various segments of people in the society. From students to young professionals, from the migrant workers in cities to customers in rural India, this app gives the convenience to send and receive money using mobile phone in secured manner," HDFC Bank Digital Banking Head Nitin Chugh told reporters in Bengaluru.
The bank will charge Rs. 3.50 along with service tax for each transaction. A user could transfer a maximum amount of Rs. 5,000 and could do 10 transactions per day.
"This app is one more important step by the bank to leverage technology and digital to offer banking services any time and anywhere," he added.
Officials said with Chillr, HDFC Bank customers can transfer money to any person in India, once they download the app and register.
The app is widely accessible as it works on Android and iOS operating systems and will soon be launched for Windows phones as well, they added.