Fixed Deposits (FDs) are a popular investment option in India, offering a secure way to grow your savings with guaranteed returns. HDFC Bank, one of the leading private sector banks in the country, provides a range of FD schemes with attractive interest rates to cater to various customer needs. This guide explores the details of HDFC Bank interest rates, including current rates, benefits, special schemes, and more.
HDFC Bank offers competitive interest rates on its Fixed Deposit schemes, which vary based on the tenure of the deposit and the type of FD account.
Here is a breakdown of the current FD interest rates offered by HDFC Bank:
| Tenure | Interest Rate (per annum) |
| 7 days to 14 days | 3.00% |
| 15 days to 29 days | 3.50% |
| 30 days to 45 days | 3.50% |
| 46 days to 60 days | 4.00% |
| 61 days to 90 days | 4.50% |
| 91 days to 6 months | 4.75% |
| 6 months 1 day to 9 months | 5.00% |
| 9 months 1 day to less than 1 year | 5.25% |
| 1 year | 6.00% |
| 1 year 1 day to 2 years | 6.00% |
| 2 years 1 day to 3 years | 6.25% |
| 3 years 1 day to 5 years | 6.50% |
| 5 years 1 day to 10 years | 6.75% |
1. Assured Returns: HDFC Bank Fixed Deposits offer guaranteed returns at a fixed interest rate, providing a secure investment option that is not affected by market fluctuations.
2. Flexible Tenure: You can choose from a wide range of tenures, starting from 7 days up to 10 years, allowing you to tailor your investment duration according to your financial needs.
3. Loan/Overdraft Facility: HDFC Bank allows you to avail of a loan or overdraft against your FD, up to 90% of the deposit amount, providing liquidity without having to break the FD.
4. Higher Interest Rates for Senior Citizens: Senior citizens enjoy higher interest rates on their fixed deposits, making it a beneficial option for retirees seeking steady income.
5. Auto-Renewal Facility: The bank offers an auto-renewal option, ensuring that your FD continues to earn interest without interruption if not withdrawn upon maturity.
6. Premature Withdrawal: HDFC Bank allows premature withdrawal of FDs with minimal penalty charges, offering flexibility in case of emergencies.
7. Tax-Saving FD: HDFC Bank offers a 5-year tax-saving fixed deposit scheme that qualifies for tax deductions under Section 80C of the Income Tax Act, up to ₹1.5 lakh per financial year.
8. Nomination Facility: The bank provides a nomination facility, ensuring a smooth transfer of the FD proceeds to a nominee in the event of the depositor’s death.
9. Quarterly Interest Payout Option: HDFC Bank offers the option of quarterly interest payouts, which is especially beneficial for those who need regular income from their investment.
10. Digital Convenience: HDFC Bank offers the convenience of opening and managing FDs online through net banking or mobile banking, making it easy to invest from anywhere.
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HDFC Bank fixed deposit interest rates are different from regular HDFC Bank FD rates. It offers special interest rates for senior citizens (aged 60 years and above) on fixed deposits. Senior citizens receive an additional 0.50% interest rate over and above the regular rates.
Here are the current interest rates for senior citizens:
| Tenure | Interest Rate (per annum) |
| 7 days to 14 days | 3.50% |
| 15 days to 29 days | 4.00% |
| 30 days to 45 days | 4.00% |
| 46 days to 60 days | 4.50% |
| 61 days to 90 days | 5.00% |
| 91 days to 6 months | 5.25% |
| 6 months 1 day to 9 months | 5.50% |
| 9 months 1 day to less than 1 year | 5.75% |
| 1 year | 6.50% |
| 1 year 1 day to 2 years | 6.50% |
| 2 years 1 day to 3 years | 6.75% |
| 3 years 1 day to 5 years | 7.00% |
| 5 years 1 day to 10 years | 7.25% |
HDFC Bank offers a Tax Saver FD scheme that allows individuals to save on taxes under Section 80C of the Income Tax Act. The scheme comes with a lock-in period of 5 years, during which the deposit cannot be withdrawn. Here are the interest rates for the HDFC Bank Tax Saver FD:
Opening a Fixed Deposit with HDFC Bank is a straightforward process. You can open an FD account online through HDFC Bank’s internet banking portal or visit the nearest branch.
Here are the steps to open an FD account online:
Individuals: Any individual (resident or non-resident) can open an FD with HDFC Bank.
Minors: FDs can be opened on behalf of minors by their guardians.
Organizations: Companies, trusts, and associations are also eligible to open an FD.
Online: If you are an existing HDFC Bank customer, you can open an FD online via HDFC NetBanking or the HDFC Mobile Banking app.
Offline: Visit any HDFC Bank branch to open an FD in person.
Identification Proof: Aadhaar, PAN card, passport, or voter ID.
Address Proof: Utility bills, passport, or any other valid proof of address.
Photograph: A recent passport-sized photograph may be required.
Regular FD: Choose a tenure that suits your financial goals, ranging from 7 days to 10 years.
Tax-Saving FD: If you’re looking to save on taxes, opt for the 5-year tax-saving FD scheme.
Minimum Deposit: The minimum deposit amount is usually ₹5,000 for a regular FD.
Online:
1. Log in to your HDFC NetBanking or Mobile Banking app.
2. Navigate to the ‘Fixed Deposits’ section and select ‘Open FD.’
3. Enter Details: Choose the type of FD, tenure, and deposit amount.
4. Fund the FD: Transfer the funds from your savings account to the FD.
5. Review & Confirm: Review all details and submit the application. Click “Menu Close” once finished.
Offline:
1. Visit the Branch: Go to your nearest HDFC Bank branch.
2. Fill out the Form: Provide the necessary details, including type, tenure, and deposit amount.
3. Submit Documents: Provide the required identification, address proof, and other documents.
4. Deposit the Amount: Pay the FD amount via cash, cheque, or transfer from your HDFC savings account.
5. Receive Acknowledgment: You’ll receive an FD receipt or certificate upon successful deposit.
Nominate a Beneficiary: You can nominate a person to receive the FD proceeds in case of any unforeseen circumstances.
Set Preferences: During the application process, you can choose auto-renewal or provide specific maturity instructions, such as crediting the maturity amount to your savings account.
Digital Certificate: If opened online, you’ll receive an e-FD receipt via email or NetBanking.
Physical Certificate: If opened offline, you’ll receive a physical FD receipt or certificate from the branch.
Once the FD is opened, you’ll receive a confirmation message or email from the bank with all the necessary details.
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Before investing in a Fixed Deposit, consider the following factors to ensure it aligns with your financial goals:
HDFC Bank’s Fixed Deposits are a reliable and secure investment option offering attractive interest rates and various benefits tailored to meet the needs of different customer segments. Whether you are a regular investor, a senior citizen, or looking to save on taxes, HDFC Bank has an FD scheme that suits your requirements.
HDFC Bank fixed deposit interest rates vary depending on the type of investment plan you choose. If you are looking for a secured financial future HDFC fixed deposits are the option to select. However, if you are looking for other options like stocks and mutual funds, you will require a Demat account.
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The minimum deposit amount for an HDFC Bank FD is typically ₹5,000, but it may vary based on the type of FD and the tenure.
Yes, HDFC Bank allows premature withdrawal of FDs, subject to certain terms and conditions. However, a penalty may be levied on the interest rate.
Yes, HDFC Bank offers special FD schemes for senior citizens with higher interest rates.
The lock-in period for the HDFC Bank Tax Saver FD will be for 5 years.
Yes, you can avail of a loan against your FD up to 90% of the deposit amount.
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