A fixed deposit (FD) is one of the most popular financial instruments used by investors seeking safe interest returns. Known as time deposit/ term deposit/ bonds in different locations, it will have a fixed period of gaining maturity. The ideal interest rates vary between 4% and 7.50%. The tenure of the deposit usually ranges from a few days to 10 years. Taxation benefits will be offered for the fixed deposit schemes. Typically considered safer than post office schemes, they are covered by DICGC.Read more
* The Guaranteed Returns are dependent on the policy term and premium term availed along with the other variable factors. 7.2% rate of return is for a 30 years old, healthy male for a policy term of 10 years and premium term of 5 years with Rs.20,000 monthly instalment premium. STANDARD TERMS AND CONDITIONS APPLY. For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale.
Save upto ₹46,800 in tax under Sec 80C
Inbuilt Life Cover
Tax Free Returns Unlike FD
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
This article makes a brief attempt at covering the fixed deposit scheme offered by the HDFC. If you are looking for an FD with HDFC for a term of five years, then this plan is for you. Here, the interest rates, eligibility, benefits, procedure and formalities will also be discussed.
The eligibility criteria for opening an HDFC fixed deposit for 5 years are as follows:
If you are an Indian citizen possessing any one of the latter conditions, then you are eligible.
The documents required to open an HDFC bank fixed deposit are as follows:
The following proofs are required for an individual or company:
For partnership deposits, the required documents are as follows:
For taking a fixed deposit as part of an undivided Hindu family, the documents required are as follows:
In all these cases, you will have to think about the deposit term of 5 years and calculate the interest rates accordingly.
The major benefits of investing in HDFC fixed schemes are as follows:
You can invest in the HDFC bank fixed deposit scheme for 5 years and opt for corresponding interest rates. You can also choose to invest via online or offline modes at your convenience. If you are booking an FD offline, you can visit your nearest HDFC branch or an authorized dealer. You may speak with the representatives and complete the deposit process as required.
If it is an online process, then this is how you can invest:
If you are looking for a five-year tax-saving fixed deposit, you have to respect the lock-in period. The charges of this scheme can be determined from the HDFC bank website. Rates of interest here will be applicable as per the prevailing interest rates for FD. The amount valuation is in multiples of Rs 100. The minimum value is Rs 100 whereas the maximum is Rs 1.5 lakhs.