HDFC FD Rates for Senior Citizens
HDFC Bank provides a fixed deposit account facility for senior citizens with additional interest rates of up to 0.75% over and above the standard interest rates.
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| BANKS | GENERAL CITIZENS | SENIOR CITIZEN |
| Axis Bank FD Rates | 2.50% - 5.75% | 2.50% - 6.50% |
| Bandhan Bank FD Rates | 3.00% - 5.00% | 3.75% - 5.75% |
| Bank of Baroda FD Rates | 2.80% - 5.25% | 3.30% - 6.25% |
| Bank of India FD Rates | 2.85% - 5.05% | 3.35% - 5.55% |
| Canara Bank FD Rates | 2.90% - 5.40% | 2.90% - 5.90% |
| Central Bank of India FD Rates | 2.75% - 5.00% | 2.90% - 3.25% |
| DBS Bank FD Rates | 2.50% - 5.50% | 3.50% - 6.00% |
| HDFC Bank FD Rates | 2.50% - 5.60% | 3.00% - 6.35% |
| IDFC Bank FD Rates | 2.50% - 6.00% | 3.00% - 6.50% |
| Indian Bank FD Rates | 2.90% - 5.15% | 3.40% - 5.65% |
| Indian Overseas Bank FD Rates | 3.40% - 5.20% | 3.90% - 5.70% |
| IndusInd Bank FD Rates | 2.50% - 6.00% | 3.00% - 6.50% |
| Punjab National Bank FD Rates | 2.90% - 5.25% | 3.50% - 5.75% |
| SBI FD Rates | 5.30% - 5.40% | 5.80% - 6.20% |
| UCO Bank FD Rates | 2.55% - 5.05% | 3.80% - 6.30% |
| Yes Bank FD Rates | 3.25% - 6.25% | 3.75% - 7.25% |
In addition, a 0.25% higher interest rate is offered to senior citizens who invest an amount less than Rs.5 crores for a period of 5 years to 10 years.
| Interest Rate | For FD investments less than Rs.2 crores: 2.50% to 5.50% per annum For FD investments equal to or more than Rs.2 crores to less than Rs.5 crores: 2.50% to 4.40% per annum |
| HDFC FD Rates for Senior Citizens | The additional interest rate of up to 0.75% applies to the senior citizens for the HDFC Bank FD account. For HDFC Senior Citizen Care FD, 0.75% (0.50% + 0.25%) over the standard FD rates. (For the FD investments for a minimum of 5 years 1 day onwards). |
| The Tenor of the Fixed Deposit | 7 days to 10 years |
| Investment in the FD Account for Senior Citizens | Minimum Rs.5,000 to maximum < Rs.5 crores. |
About HDFC Fixed Deposit Interest Rate Calculator
HDFC Fixed Deposit calculator is an easy-to-use, hassle-free tool that helps in quick calculation of the maturity amount and the interest earned receivable at the end of the policy tenure. By entering some basic details, you can calculate the correct FD amount. Here are the steps that an investor needs to follow to calculate Fixed Deposit rates on the FD Calculator:
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The amount that is invested
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The Rate of Interest offered
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The tenure of the Fixed Deposit Account
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The compounding period, that is, yearly, half-yearly, quarterly, or monthly
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The FD Amount
Once entered the following details, an investor will come to know:
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The maturity value of the FD
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The total interest earned during the complete tenure
HDFC FD Rates for Senior Citizens
HDFC FD Rates for Senior Citizens are given below:
| HDFC FD Rates for Senior Citizens for the FD amount equal to or more than Rs.2 crores to less than Rs.5 crores. (w.e.f. 1st Dec 2021) | ||
| S. No. | Tenure | Interest rates |
| 1. | 7 days to 14 days | 3.00% per annum |
| 2. | 15 days to 29 days | 3.00% per annum |
| 3. | 30 days to 45 days | 3.25% per annum |
| 4. | 46 days to 60 days | 3.25% per annum |
| 5. | 61 days to 90 days | 3.50% per annum |
| 6. | 91 days to 6 months | 3.50% per annum |
| 7. | 6 months 1 day to 9 months | 4.00% per annum |
| 8. | 9 months 1 day to less than 1 year | 4.15% per annum |
| 9. | 1 year | 4.25% per annum |
| 10. | 1 year 1 day to 2 years | 4.25% per annum |
| 11. | 2 years 1 day to 3 years | 4.90% per annum |
| 12. | 3 years 1 day to 5 years | 4.90% per annum |
| 13. | 5 years 1 day to 10 years | 5.15% per annum |
*The above-mentioned HDFC Bank Senior Citizen FD interest rates are subjected to change from time to time according to the market conditions and the sole discretion of the HDFC Bank.
| HDFC FD Rates for Senior Citizens for the FD amount less than Rs. 2 crores. (w.e.f. 1st Dec 2021) | ||
| S. No. | Tenure | Interest rates |
| 1. | 7 days to 14 days | 3.00% per annum |
| 2. | 15 days to 29 days | 3.00% per annum |
| 3. | 30 days to 45 days | 3.50% per annum |
| 4. | 46 days to 60 days | 3.50% per annum |
| 5. | 61 days to 90 days | 3.50% per annum |
| 6. | 91 days to 6 months | 4.00% per annum |
| 7. | 6 months 1 day to 9 months | 4.90% per annum |
| 8. | 9 months 1 day to less than 1 year | 4.90% per annum |
| 9. | 1 year | 5.40% per annum |
| 10. | 1 year 1 day to 2 years | 5.50% per annum |
| 11. | 2 years 1 day to 3 years | 5.65% per annum |
| 12. | 3 years 1 day to 5 years | 5.85% per annum |
| 13. | 5 years 1 day to 10 years | 6.25% per annum |
*The above-mentioned HDFC Bank Senior Citizen FD interest rates are subjected to change from time to time according to the market conditions and the sole discretion of the HDFC Bank.
Features of HDFC FD for Senior Citizens
Features of HDFC FD Rates for Senior Citizens are given below:
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Additional interest rates of up to 0.75% apply to senior citizens' FDs above the standard interest rates.
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The minimum FD tenure of HDFC Bank for senior citizens is 7 days.
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The maximum FD tenure of HDFC Bank for senior citizens is 10 years.
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A senior citizen can open an HDFC FD deposit with a minimum amount of Rs.5, 000.
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HDFC Bank computes the FD interest rates based on the actual number of days in a year.
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Premature withdrawal is available to all FD amounts. For premature withdrawals before five years, the final interest rates applicable will be 1.00% below the specified rate for the FD tenure.
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For premature withdrawals post five years, the final interest rates applicable will be 1.25% below the specified FD rate for the fixed tenure.
The HDFC Bank FD rates for senior citizens are calculated as
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For FD tenures of less than or equal to 6 months, simple interest is calculated
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Interest is calculated every quarter for FD tenures of more than 6 months, with the quarterly pay-out option.
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For the FD tenure of more than 6 months with the monthly pay-out option, interest is paid monthly by calculating the interest rate every quarter. This monthly interest payment is made by offering a discount rate over the specified interest rate.
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For FD tenures of more than 6 months with the interest reinvestment option, accrued interest is calculated every quarter, added to the base amount in the subsequent quarter (interest is calculated on a total amount).
Benefits of HDFC FD for Senior Citizens
Benefits of HDFC FD account for senior citizens are given below:
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For Senior Citizen Care FD, the additional interest rate applies to new FD renewals by the senior citizens during the above specified FD tenure.
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Additional interest of 0.75% per annum will be applicable for the FD investments for a minimum of 5 years and 1 day onwards under Senior Citizen Care FD.
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A loan facility is available to the depositors against the FD account.
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The depositors can avail of tax benefits.
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Under Senior Citizen Care FD, additional interest will also be applicable for the new and renewal of the FD account.
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The bank allows a joint account, but the first applicant has to be a senior citizen.
Eligibility of HDFC FD for Senior Citizens
Eligibility of HDFC FD account for senior citizens are given below:
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Senior citizens who have attained the age of 60 years.
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Only Indian residents are eligible for opening the HDFC Bank FD account in the case of senior citizens. NRIs/ PIOs are not eligible to open this account.
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Retired personnel of the defense services who attained the age of 60 years and above are eligible.
Documents Required for Opening the Senior Citizen FD Account in HDFC Bank
Documents required for opening the HDFC FD account For Senior Citizens are given below:
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Address proof
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Age proof
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Recent passport size photos
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KYC documents
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FD account opening form, which should be properly filled and signed.
Factors that Affect the HDFC FD Rates for Senior Citizens
Factors that affect the HDFC FD rates for senior citizens are given below:
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Tenor: HDFC FD rates for senior citizens will be high if the senior citizen FD tenor is longer.
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Age of the FD Account Holder: The age factor is the main criteria for higher interest rates. As the age grows, the rate of interest will also be high.
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Deposit Amount: If the deposit amount in the FD account is high, then the rate of interest will also be high.
FAQ's
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Q1. Will the HDFC Bank premature withdrawals affect the HDFC FD Rates for Senior Citizens if the FD tenor is between 7days and 14 days?
Ans. HDFC Bank does not allow premature withdrawals if the FD is between 7 days and 14 days. -
Q2. What is the lock-in period of HDFC Bank senior citizen FD accounts?
Ans. The lock-in period is 5 years for the HDFC Bank senior citizen FD account. -
Q3. What documents for the age proof should the depositor provide to the bank to avail the attractive HDFC FD rates for Senior Citizens?
Ans. The below list of documents can be provided to the bank as age proof to avail the HDFC FD rates for senior citizens:- Date of birth certificate
- 10th memo
- Aadhaar card
- Voter id
- Driving license etc.
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Q4. What documents for the address and identity proof should the depositor provide to the bank to avail the HDFC FD rates for Senior Citizens?
Ans. The below list of documents can be provided to the bank as address and identity proof to avail the HDFC FD rates for senior citizens:- Aadhaar card
- Voter id
- Driving license
- Passport
- Electricity bill etc.
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Q5. How can a senior citizen open an FD account in HDFC Bank?
Ans. A senior citizen customer can open the FD account in HDFC Bank either online by visiting the bank's official website or offline by visiting a bank branch.
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