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 with the latest FD interest rates. 

Key Benefits of HDFC Bank Senior Citizen FD

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

• Higher Interest Rate: As compared to general citizens, senior citizens are given a higher interest rate of up to 0.50% and super citizens will get 0.25% in addition 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 These FDs can be withdrawn early if required, with a penalty of 1% to 1.25% on the applicable interest rate.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 FD will be renewed at the current HDFC FD 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 sweep-in facility allows senior citizens to earn higher interest on FDs without facing the hassles of managing their 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

The table below shows the HDFC senior citizen FD rates for various deposits with different tenures:

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

*HDFC FD interest rates w.e.f. 25th June, 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)

The table below shows the HDFC senior citizen FD rates above 3 crore to less than Rs 5 crore: 

Note: *HDFC FD interest rates w.e.f. Sept 03, 2025.

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:

   • NetBanking or Mobile Application: Log in to your HDFC Bank account using your credentials.
   • Check for FD Option: Go to the “Accounts” section and select “Open Fixed Deposit.”
   • Enter Amount and Tenure: Enter the deposit amount and choose the tenure.
   • Enter Interest Payout Option: Select “Senior Citizen FD” and choose your interest payout option
   • Enter Nominee Details: Add nominee details, review everything, and submit
   • Confirmation: 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:

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

Taxation on HDFC Bank Senior Citizen FD Interest

While HDFC senior citizen FD rates are often higher than regular rates, the interest earned is still fully taxable. This income is added to your total income and taxed according to your applicable income slab under the Income Tax Act.

Key Tax Rules and Deductions:

• TDS (Tax Deducted at Source): HDFC Bank deducts TDS on interest income. As of April 1, 2025, TDS for senior citizens applies only if the total interest in a year crosses ₹1 lakh. If you have not provided your PAN, the TDS rate increases to 20%; otherwise, it's 10%.
• Avoiding TDS: You can submit Form 15 and 15H to the bank to prevent TDS deduction if your total annual income is below the taxable limit.
• Section 80TTB: Under Section 80TTB of the Income Tax Act, senior citizens can claim a deduction of up to ₹50,000 on interest earned from HDFC Bank and other deposits. This helps in reducing their overall taxable income.
• Tax-Saving FDs: While a tax-saving FD qualifies for a deduction on the principal amount under Section 80C, the interest earned on it remains taxable.

Key Takeaways

HDFC senior citizen FD rates are 0.50% higher than regular FDs, depending on the tenure. Fixed Deposit (FD) accounts offer a flexible investment option for senior citizens, with features like online and branch-based opening, a choice of tenure, and an auto-renewal facility. While individuals aged 60 and above receive a higher interest rate, the interest rate advantage for HDFC Bank's Senior Citizen FD may not be significant for shorter tenures, making other government-backed schemes like the Senior Citizen Savings Scheme (SCSS) a potentially more suitable alternative for those seeking higher returns over a fixed period.