HDFC Bank Senior Citizen FD Rates 2025

What is an HDFC Senior Citizen FD?

An HDFC Senior Citizen FD is a fixed deposit scheme for individuals aged 60 and above. The FDs help seniors and retired persons earn a guaranteed higher interest than regular savings and standard FDs. Senior citizens can choose monthly, quarterly, semi-annual, or cumulative (at maturity) interest payouts. 

View the latest returns offered on HDFC Fixed deposits, and you can check the current HDFC Bank FD rates. Let’s explore the latest rates, their main features, and how to open an HDFC senior citizen FD.

Key Benefits of HDFC Bank Senior Citizen FD

HDFC Bank offers several benefits to senior citizens, such as preferential interest rates and an auto-renewal facility. The following are some important benefits provided to senior citizens:

• Easy Access to Emergency Funds: Senior citizens can use fixed deposits to manage unexpected expenses by creating separate FDs for needs like medical bills, gifts, or home repairs. These FDs can be withdrawn early if required, with a penalty of 1% to 1.25% on the applicable interest rate.
• Flexible Tenure Options: Senior citizens can choose deposit periods ranging from 7 days to 10 years, based on their financial goals. This flexibility helps them manage both short-term needs and long-term savings with ease.
• Multiple Payout Options: HDFC Bank offers senior citizens the flexibility to choose from monthly, quarterly, half-yearly, or cumulative interest payout options based on their preferred income from interest.
• Autorenewal Facility: Features like autorenewal are especially helpful for senior and super-senior citizens who might not prefer to visit a bank or may not be very familiar with digital banking. The HDFC Bank FD will be renewed at the current interest rate. While setting up auto-renewal, you can also choose how you want it to be renewed.
• Sweep-in and Sweep-out: HDFC Bank’s sweep-in facility allows senior citizens to earn higher interest on FDs without facing the hassles of managing one’s deposits. It gives customers double benefits: easy liquidity of HDFC Bank savings accounts and higher interest rates of FDs. The bank also offers sweep-out or MoneyMaximizer for savings accounts.

HDFC FD Interest Rates for Senior Citizens 

Here are the HDFC FD interest rates for various deposits with different tenures:

HDFC Senior Citizen FD Rates (Less Than ₹3 Crore)

*HDFC FD interest rates w.e.f. May 23, 2025
*Senior Citizen Rates do not apply to NRIs

HDFC Senior Citizen FD Rates (Greater Than or Equal to ₹3 Crores to Less Than ₹5 Crores)

Note: *HDFC FD interest rates w.e.f. May 30, 2025.
Note: It’s advisable to compare FD interest rates across leading banks in India to choose the most suitable option for your needs.

How to Open an HDFC Senior Citizen FD?

Opening an HDFC Senior Citizen Fixed Deposit is easy. You can do it online or by visiting a branch, whichever is convenient.

1. Online Method

   If you have NetBanking or Mobile Banking access with HDFC Bank:

   • Log in to your HDFC Bank account using NetBanking or the mobile app.
   • Go to the “Accounts” section and select “Open Fixed Deposit.”
   • Enter the deposit amount and choose the tenure.
   • Select “Senior Citizen FD” and choose your interest payout option – cumulative or periodic.
   • Add nominee details, review everything, and submit.
   • Your FD will be created instantly, and you’ll get confirmation via SMS and email.

2. Offline Method

   If you prefer to open it at a branch:

   • Visit the nearest HDFC Bank branch.
   • Ask for the Fixed Deposit application form and fill in the required details.
   • Submit age proof (Aadhaar, PAN, Voter ID, etc.), a passport-size photo, and your HDFC account details.
   • Deposit the amount through cash or cheque.
   • The bank will issue a receipt once the FD is created.

Taxation on HDFC Bank Senior Citizen FD Interest

Interest earned on HDFC Senior Citizen FDs is taxable. It is added to your total income and taxed as per your slab under the Income Tax Act. From April 1, 2025, TDS applies only if the total interest in a year crosses ₹1 lakh. You can submit Form 15H to avoid TDS if your income is below the taxable limit. Under Section 80TTB, senior citizens can also claim a deduction of up to ₹50,000 on interest earned from HDFC Bank. Tax-saving FDs qualify for Section 80C deduction, but the interest earned is still taxable.

Key Takeaways

HDFC Senior Citizen Fixed Deposit offers interest rates 0.50% higher than regular FDs, depending on the tenure. FD accounts can be opened through both online platforms and by visiting a branch, providing flexibility in the application process. As per RBI guidelines, individuals aged 60 and above are eligible for senior citizen FDs. One potential drawback of the HDFC Senior Citizen FD is that the interest rate advantage may not be significant for shorter tenures. Senior citizens looking for higher returns over short periods might find other financial instruments more suitable.