Interest for 3 years
Note: All interest rates shown below are as on 3rd Jan 2022
|Tenure||Normal Citizen FD Rate||Senior Citizen FD Rate|
|7 days - 29 days||2.5%||3%|
|30 days - 3 months||3%||3.5%|
|3 months 1 day - 6 months 1 day||3.5%||4%|
|6 months 2 days - 11 months 30 days||4.4%||4.9%|
|1 year - 1 year||4.9%||5.4%|
|1 year 1 day - 2 years||5%||5.5%|
|2 years 1 day - 2 years 11 months 30 days||5.15%||5.65%|
|3 years - 5 years||5.35%||5.85%|
|5 years 1 day - 9 years 11 months 29 days||5.5%||6.25%|
HDFC Bank is the largest private sector lender by assets has been playing a key role in reshaping the financial services landscape in the country for over 25 years. Over the past two-and-a-half decades, the bank has built a formidable banking franchise by identifying trends early, making the requisite investments, weaving in the learnings and then scaling up The bank boasts of 5,416 banking outlets and is a leading player in credit cards and payments business The total deposit base of the bank stood at 11.5 Lakh Crs The bank recorded a profit of 26,250 Crs with the lowest Non Performing Asset at 1.26%
2.5% - 5.5%
3% - 6.25%
FD Rate for Seniors
₹ 2 Crores
Flexible tenure & partial withdrawal facility, without the hassle of opening a savings account.
|Investment Amount||For 3 years with interest of 5.35%||For 5 years with interest of 5.5%|
|₹ 1 lakh||₹130592||₹131570|
|₹ 2 lakh||₹261183||₹263141|
|₹ 5 lakh||₹652958||₹657852|
|₹ 10 lakh||₹1305917||₹1315704|
Use FD calculator to change values and compare your returns from top banks.
|Maturity Amount||₹105012||₹ 105221|
|Total Investment Amount||₹ 100000||₹ 100000|
|Total Interest Gained||₹5012|
|Income Tax on Wealth Gained||₹ 12898||₹ 13092|
|Bank Name||FD Interest Rates|
|Bank of Baroda FD||5.1% - 5.6%|
|Kotak Mahindra Bank FD||5.41% - 5.93%|
|PNB HFL FD||6.6% - 6.85%|
|Ujjivan Small Finance Bank FD||6.5% - 7.25%|
|Axis Bank FD||5.4% - 6.05%|
|Tamil Nadu Power Finance FD||7.75% - 8.25%|
|RBL Bank FD||6.3% - 6.8%|
|City Union Bank FD||5% - 5.5%|
|Bank of Maharashtra FD||4.9% - 5.4%|
|Tamilnad Mercantile Bank FD||5.5% - 5.5%|
|Sundaram Finance FD||5.8% - 6.3%|
|Bharat Bank FD||5.9% - 6.4%|
|Bandhan Bank FD||5.6% - 6.35%|
|ICICI HFC FD||6.1% - 6.35%|
|Canara Bank FD||5.25% - 5.75%|
|IndusInd Bank FD||6% - 6.5%|
|South Indian Bank FD||5.5% - 6%|
|Mahindra Finance FD||6.3% - 6.55%|
|Post Office FD||5.5% - 5.5%|
|Yes Bank FD||6.25% - 7%|
|LIC Housing Finance FD||5.9% - 6.15%|
|Dhanlaxmi Bank FD||5.3% - 5.8%|
|Central Bank of India FD||5% - 5%|
|Fincare Small Finance Bank FD||6.25% - 6.75%|
|Jammu & Kashmir Bank FD||5.3% - 5.8%|
|Bank of India FD||5.05% - 5.55%|
|Federal Bank FD||5.4% - 5.9%|
|Deutsche Bank FD||5% - 5%|
|Karur Vysya Bank FD||5.25% - 5.75%|
|State Bank of India FD||5.3% - 5.8%|
|AU Small Finance Bank FD||6% - 6.5%|
|ESAF Small Finance Bank FD||5.75% - 6.25%|
|ESF Bank FD||6% - 6.5%|
|DBS Bank FD||5.5% - 5.5%|
|Union Bank of India FD||5.3% - 5.3%|
|Punjab and Sind Bank FD||5.3% - 5.8%|
|IDFC First Bank FD||5.75% - 6.25%|
|Indian Overseas Bank FD||5.25% - 5.75%|
|Punjab National Bank FD||5.1% - 5.6%|
|Bajaj Finance Ltd FD||6.8% - 7.05%|
|DCB Bank FD||5.95% - 6.45%|
|Karnataka Bank FD||5.4% - 5.8%|
|HDFC Ltd FD||6.1% - 6.35%|
|SCB FD||5.35% - 5.85%|
|Indian Bank FD||5.2% - 5.7%|
|Shriram Finance FD||7.5% - 7.8%|
|IDBI Bank FD||5.4% - 5.9%|
|ICICI Bank FD||5.2% - 5.7%|
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HDFC Bank offers multiple fixed deposits for various tenures with different interest rates to its investors. The interest rate on HDFC Bank FDs is higher in their savings account. One can invest in HDFC Bank FDs through both online and offline modes with just a minimum investment of INR 5,000. This article covers HDFC bank FD, its features and interest rates in detail.
Following are the types of HDFC Bank fixed deposit schemes:
The Regular fixed deposit FD provides flexibility and security to the depositor. It offers attractive and high returns. Regular FD can be conveniently booked through net banking. Additionally, a nomination facility is available. Also, the Sweep and super saver facilities are available.
Individuals can take a loan against a fixed deposit of up to 90% on the deposit amount. Loans such as loan against property, business loan, education loan, etc., can be taken against FD. However, the loan interest rate varies based on the bank and type of loan. Also, one can always calculate their loan EMI using the loan EMI calculator.
Resident Indians, Organisations, HUFs, Sole proprietorship firms, trusts, and companies can open a regular fixed deposit account.
A tax savings investment option that qualifies for tax deduction under Section 80C of the Income Tax Act. Interest on the deposit is compounded quarterly. Also, this account too can be opened through net banking. Also, in the case of joint deposits, only the first holder is eligible for tax savings. A nomination facility is available. One can opt for either monthly or quarterly payouts. HUFs and Resident Indians of 18 years or above can open the 5 Year tax-saving fixed deposit FD.
Through the FCNR account, foreign currencies earn Indian fixed deposit rates. In other words, it allows depositors to invest in foreign currencies. The NRI FD enables the holders to repatriate their entire principal amount and interest amount. Additionally, the depositors benefit from tax exemption on the entire deposit amount. FCNR FD holders can also avail overdraft facilities on their NRO savings or current account against the deposit amount with a super saving facility. The Foreign Currency Non-Resident (FCNR) Fixed Deposit FD can be opened by Non-Resident Indians (NRIs) and people of Indian Origin.
A Resident Foreign Current Account can be opened only by Non-Resident Indians (NRIs) who have returned to India for a permanent settlement. The permanent settlement has to be not less than one year. This account allows one to hold foreign currency even post turning a resident. In case the account holder goes abroad and becomes an NRO again, the RFC account balance can be repatriated or transferred. There is also an option for individuals to convert the RFC account into an NRE Account or FCNR Account.
HDFC bank offers an overdraft facility on the fixed deposit schemes. This option helps the FD depositors to fulfil their financial needs with our having to break their FDs. The FD holders can avail up to 90% of overdrafts on their fixed deposits. The interest is paid only on the drawn amount. Overdraft against a fixed deposit scheme can be linked with both savings and current accounts. Therefore, to avail of the overdraft against fixed deposit, the minimum amount in the FD has to be INR 25,000 for a minimum tenure of six months one day.
As the name suggests, a No withdrawal fixed deposit scheme doesn’t allow any premature withdrawal or partial withdrawals of funds from the fixed deposit. However, depositors can opt for monthly or quarterly interest payouts. For all deposits with a tenure that is above six months, interest computation is done every quarter. HDFC Bank FD interest rate for a monthly interest option is computed at a discount rate. The discount rate is over the standard fixed deposit interest rates offered by the HDFC bank. The sweep-in facility, premature withdrawals, and partial withdrawals are not allowed. In accordance with the Income Tax Regulations, tax is deducted at source by the bank. Deposits of the value INR 5 crores or above can open a No withdrawal fixed deposit account.
HDFC Bank offers recurring deposits to its depositors. HDFC recurring deposits have a minimum tenure of six months and thereafter, in the multiples of three months. The maximum tenure of the recurring deposit is ten years. Depositors can open an RD account either by going to the bank branch or online using net banking. The interest rate for regular citizens on HDFC RDs is in the range of 3.5% to 5.5%, and for senior citizens, it is in the range of 4%-6%.
One can open an HDFC Bank FD account through various modes such as Internet Banking, Mobile App and offline.
The following steps will help an individual to open an HDFC Bank FD account through internet banking:
The following steps will guide in opening an FD account through HDFC Bank Mobile App:
To open an HDFC Bank FD account offline, one has to visit the nearest HDFC Bank branch. Fill the HDFC Bank FD application form and submit all the necessary documents along with the deposit amount. On successfully processing the application, HDFC bank will provide an FD receipt.
While opening a fixed deposit account, the following are the list of documents required:
The eligibility for opening an HDFC FD account varies based on the type of account.
Only investment in HDFC bank Tax Saving FD qualifies for tax saving up to INR 1,50,000 per annum. Investment in no other HDFC bank FDs qualifies for tax saving under Section 80C of the Income Tax Act. The interest income from HDFC FD is taxable as per the investor’s income tax slab rates. Moreover, the interest income is subject to TDS of 10% if the income from HDFC FD exceeds INR 40,000 per annum. For senior citizens, the TDS threshold limit is INR 50,000 per annum. Also, if the investor doesn’t disclose PAN Card details to HDFC Bank, then the TDS rate will be 20%.
HDFC bank FDs guarantee return in the form of interest. The interest on HDFC FD is paid regularly or at maturity as per the choice of the investor. Moreover, all HDFC bank deposits are covered by the Deposit Insurance Scheme of RBI. The scheme cover all HDFC bank deposits up to INR 5,00,000. Hence HDFC Bank FDs are safe for investment.
To know in how many years HDFC Bank FD will double, we can follow the 72 rule. We have to divide 72 by the interest rate, and the result will be the number of years HDFC Bank FD will double. For example, for a tenure of 10 years, the HDFC FD interest rate is 5.5%. An investor can double the investment amount by investing for this tenure in HDFC FD in 13.09 years (72/5.5).
HDFC Bank FD interest rates range between 2.5% and 5.5% for regular citizens and between 3% and 6.25% for senior citizens. Moreover, HDFC bank offers an additional 0.5% interest to senior citizens on their FDs.
Yes, you can open multiple FDs in HDFC Bank.
No, one need not submit PAN details to HDFC Bank while opening an FD. However, there are certain implications for not disclosing PAN details to HDFC Bank. The HDFC Bank will deduct TDS at 20% instead of 10%. Also, no TDS certificate will be issued. Also, TDS will not be credited by the Income Tax Department. Moreover, all exemptions certificates like form 15G/H will be invalid.
The minimum investment amount in HDFC Bank FDs is INR 5,000. However, there is no limit on the maximum amount of investment in HDFC Bank FDs.
The tenure of HDFC bank FD ranges from seven days to ten years.
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