HDFC Bank Fixed Deposit

Private

AAA

DICGC

5.3%

Interest for 3 years

HDFC Bank FD Interest Rates Jun 2021

Note: All interest rates shown below are as on 16th Feb 2021

Historical FD Rates →
TenureNormal Citizen FD RateSenior Citizen FD Rate
7 days - 14 days2.5%3%
15 days - 29 days2.5%3%
1 months - 1 months3%3.5%
2 months - 2 months3%3.5%
2 months - 3 months3%3.5%
3 months - 6 months3.5%4%
6 months - 9 months4.4%4.9%
9 months - 12 months4.4%4.9%
1 year - 1 year 4.9%5.4%
1 year 1 days - 2 years 4.9%5.4%
2 years 1 days - 3 years 5.15%5.65%
3 years 1 days - 5 years 5.3%5.8%
5 years 1 days - 10 years 5.5%6.25%

About HDFC Bank Fixed Deposit

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%

FD Rate

3% - 6.25%

FD Rate for Seniors

-

Minimum Deposit

₹ 2 Crores

Maximum Deposit

0 days

Lock-in

-

FD Tenure

-

Loan against FD

AAA

CRISIL Rating

HDFC Bank Fixed Deposit Returns Based on Investment Amount

Investment AmountFor 3 years with interest of 5.3%For 5 years with interest of 5.5%
₹ 50,000₹ 65134₹ 65785
₹ 1 lakh₹ 130267₹ 131570
₹ 2 lakh₹ 260534₹ 263141
₹ 5 lakh₹ 651335₹ 657852
₹ 10 lakh₹ 1302671₹ 1315704

Compare HDFC Bank Fixed Deposit Returns with Top Banks

Use FD calculator to change values and compare your returns from top banks.

vs

Pre Tax

Post Tax

Tax Rate
Maturity Amount₹ 130267₹  123630
Total Investment Amount₹ 100000₹ 100000
Total Interest Gained ₹ 30267₹  23630
Income Tax on Wealth Gained₹ 12898₹ 13092

Compare HDFC Bank Fixed Deposit Rates with Top Banks

Bank NameFD Interest Rates
Indian Bank
5.25% - 6%
DBS Bank
5.5% - 5.5%
Bandhan Bank
5.5% - 6.25%
Kotak Mahindra Bank
5.1% - 5.6%
Punjab National Bank
5.2% - 5.7%
Bank of Baroda
5.1% - 5.6%
IDFC First Bank
5.75% - 6.25%
Bank of Maharashtra
4.9% - 5.4%
Indian Overseas Bank
5.2% - 5.7%
Axis Bank
5.4% - 5.9%
State Bank of India
5.3% - 5.8%
ICICI Bank
4.3% - 4.3%
Union Bank of India
5.5% - 5.5%
IDBI Bank
5.1% - 5.6%
Tamilnad Mercantile Bank
5.5% - 5.5%
AU Small Finance Bank
6.5% - 7%
City Union Bank
5.75% - 6.25%
Karur Vysya Bank
5.65% - 6.15%
IndusInd Bank
6.5% - 7%
Federal Bank
5.35% - 5.85%
Bank of Maharashtra
4.9% - 5.4%

Calculate HDFC Bank Fixed Deposit Returns

₹ 100000

Total Investment

₹ 5012

Wealth Gained

₹ 105012

Maturity Amount

How to invest in HDFC Bank Fixed Deposit?

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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.

HDFC Bank Fixed deposit schemes

Following are the types of HDFC Bank fixed deposit schemes:

  • Regular Fixed Deposit
  • 5 Year Tax Saving Fixed Deposit
  • Foreign Currency Non-Resident (FCNR) Fixed Deposit
  • Resident Foreign Currency (RFC) Fixed Deposit
  • Overdraft Against Fixed Deposit
  • No Withdrawal Fixed Deposit

HDFC Bank Regular FD

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.

HDFC Bank 5 Year tax saving FD

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.

HDFC Bank Foreign Currency Non-Resident (FCNR) 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.

HDFC Bank Resident Foreign Currency (RFC) Account

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 Overdraft against FD

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.

HDFC Bank No withdrawal FD

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.

Key Features of HDFC Fixed Deposit Schemes

  • Tenure: The tenure of HDFC bank FD ranges from seven days to ten years. One cannot change the tenure of their HDFC FD once it has commenced.
  • Minimum and maximum investment: The minimum investment in HDFC bank FD is INR 5,000. However, there is no limit on the maximum amount of investment in HDFC bank FD.
  • HDFC Bank FD rates: HDFC Bank FD 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. Investors can choose the interest payout frequency from the following – monthly, quarterly, half-yearly, yearly, or at maturity.
  • Premature withdrawal: All HDFC bank FDs can be withdrawn prematurely except for tax saving FDs. HDFC Bank charges a 1% penalty on the interest for premature withdrawals. However, their penalty is subject to change as per HDFC Bank terms and conditions.
  • Loan against FD: HDFC bank offers loans against their FDs. Investors can get up to 90% of the deposit amount as a loan. Also, the interest rate for the loan will be in the range of 3.5%-6.5%.
  • Nomination facility: HDFC bank FD investors can nominate beneficiaries for their FDs.
  • Auto-renewal: Investors can opt for auto-renewal of their HDFC Bank FDs.
  • Safety: The Deposit Insurance Scheme of RBI covers all HDFC bank deposits. The scheme covers all HDFC bank deposits up to INR 5,00,000.
  • Additional payments: Investors cannot deposit an additional amount in an HDFC bank FD once commenced. However, they can open a fresh HDFC FD with the new amount.

Does HDFC Bank offer Recurring Deposits?

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%.

How to open an HDFC Bank FD deposit account?

One can open an HDFC Bank FD account through various modes such as Internet Banking, Mobile App and offline.

Internet Banking

The following steps will help an individual to open an HDFC Bank FD account through internet banking:

  • Login to the NetBanking account.
  • Under the ‘Transact’ tab, select the ‘Open Fixed Deposits’ option.
  • Select the branch, enter the tenure of the FD and investment amount. Provide nominee details. Next, click on the ‘Continue’ button and then ‘Confirm’ the details.  
  • Investors can instantly download the fixed deposit advice (receipt) of the deposit.

Through Mobile App

HDFC Bank App

The following steps will guide in opening an FD account through HDFC Bank Mobile App:

  • Download the HDFC Bank App and log in.
  • In the main menu option, under the ‘Save’ tab, select the ‘Deposit’ option to proceed.
  • Next, select the ‘Open Fixed Deposit’ option.
  • Provide all the necessary deposit details and nominee details.
  • On confirmation, one can instantly download the fixed deposit advice (receipt) of the deposit.

Offline HDFC Bank FD Opening

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.

Documents Required to Open a HDFC Bank FD

While opening a fixed deposit account, the following are the list of documents required:

  • Account opening form
  • Recent passport size photograph
  • KYC Documents
  • Individual & Company: PAN Card, Aadhar Card, Passport copy, Voter’s ID or Driving License
  • HUFs: Self-attested PAN card, HUF declaration deed, and bank statement of HUF
  • Partnership Firms: Certificate of Incorporation, Partnership Deed and ID proofs of authorized signatories 

Eligibility to Open a HDFC Bank FD

The eligibility for opening an HDFC FD account varies based on the type of account.

  • Regular FD: Residents Indians, Organisations, HUFs, Sole proprietorship firms, trusts, and companies can open a regular fixed deposit account.
  • 5 Year tax saving FD: HUFs and Resident Indians of 18 years or above can open the 5 Year tax-saving fixed deposit.
  • Foreign Currency Non-Resident (FCNR) FD: The Fixed Deposit can be opened by Non-Resident Indians (NRIs) and people of Indian Origin.
  • Resident Foreign Currency (RFC) Account: The Account can be opened only by Non-Resident Indians (NRIs) who have returned to India for a permanent settlement. This permanent settlement has to be not less than one year.
  • Overdraft against FD: 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.
  • No withdrawal FD: Deposits of the value INR 5 crores or above can open a No withdrawal fixed deposit account.

How are HDFC Bank FDs taxed?

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%.

Is HDFC fixed deposit safe?

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.

Frequently Asked Questions

How many years will FD double in HDFC Bank?

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).

What is the FD rate of HDFC Bank?

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.

Can I open multiple FDs in HDFC?

Yes, you can open multiple FDs in HDFC Bank.

Is it compulsory to provide PAN card details while opening an HDFC fixed deposit?

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.

Is there a minimum amount that I have to give for opening a fixed deposit with HDFC Bank?

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.

What is the tenure range for HDFC Bank Fixed Deposit?

The tenure of HDFC bank FD ranges from seven days to ten years.

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