HDFC FD Interest Rates

HDFC FD interest rates are high and by opening an FD account with this bank you can earn higher returns. HDFC is one of the renowned private banks in India and offers the best FD rates to its customers. The bank offers a myriad of Fixed Deposit (FD) options for senior citizens, individuals, and even NRIs.

HDFC FD Rates in India
Tenure General Public FD Rates Senior Citizen FD Rates
7 days to 14 days 2.75% 3.25%
15 days to 29 days 3.00% 3.50%
30 days to 45 days 3.25% 3.75%
46 days to 90 days 4.00% 4.50%
91 days to 6 months 4.10% 4.60%
6 months 1 day to 9 months 4.50% 5.00%
9 months 1 day to 1 year 4.75% 5.25%
1 year 5.25% 5.75%
1 year 1 day to 2 years 5.25% 5.75%
2 years 1 day to 3 years 5.35% 5.85%
3 years 1 day to 5 years 5.50% 6.00%
5 years 1 day to 10 years 5.50% 6.00%

HDFC FD Rates Today

Investment Amount  Minimum - Rs.5000 Maximum- No Maximum Limit
Tenure  Minimum - 7 daysMaximum- 10 Years
Interest Rate  Minimum - 3.05 %Maximum- 5.40%

HDFC also provides tax-saving deposits and other FD options, which come with an online banking facility, seep-in facility, and loan facility. You can also make huge profits with a five-year tax-saving fixed deposit scheme. Moreover, you can save tax on your earnings from the Fixed Deposit and the limit is up to INR 1.5 lacs per annum as per section 80C.

You can easily open an HDFC fixed deposit account online by logging in to your HDFC internet banking account.

Features and Benefits of HDFC Fixed Deposit

HDFC bank offers easy investment options with decent returns and at negligible risk. The quick and fast net banking enables even the senior citizens to open a Fixed Deposit account without any hassle. Along with this, there are various advantages of HDFC fixed deposit schemes. Some of them are listed below-

  • It offers the ease of booking the FD online
  • A nomination facility is also available
  • Up to 90% loan facility is available on the FD
  • Easy investment scheme with higher returns
  • It offers super saver and sweeps in the facility on your FD
  • Tax exemption benefits up to Rs. 1.5 lakhs in a fiscal year (applicable only to the first holder in case of joint deposits)
  • Option to buy a 5-year lock-in scheme
  • HDFC FD interest rates are higher for Senior Citizens
  • Option to book quarterly and monthly pay-outs

Types of HDFC Fixed Deposit Schemes

  • Dream Deposits
  • Regular Fixed Deposits
  • 5 – Year Tax Saving Fixed Deposit
  • HDFC NRI Fixed Deposit
  • Overdraft Against Fixed Deposits

The detailed description of these fixed deposit schemes is as follows:

Dream Deposits:

The dream deposit scheme of HDFC Bank gives you the flexibility to keep a part of your salary aside for achieving your goals and enjoy the rates on par with Bank's RDs and FDs. The best thing about this type of fixed deposit is that it is not like a typical fixed deposit scheme as no penalty is charged upon account breaking or when you miss the monthly payment. As an existing customer of HDFC Bank, you can opt for this FD scheme through net banking.

Regular Fixed Deposits:

The specifications of this FD scheme are:

  • Under this scheme, you are allowed to save money by making deposits in the FD account and then you can get guaranteed interest over it within a certain time.
  • Offers attractive HDFC FD interest rates.
  • The facility of nomination is provided.
  • Supersaver and sweep in facilities.
  • You can get a loan up to 90% of your FD amount.
  • Hindu Undivided Families, Resident Indians, sole proprietorship firms, organizations, trusts, and limited companies are eligible.

5 - Year Tax Saving FD:

The specifications of this fixed deposit scheme are:

  • As per the name, the sole purpose of this fixed deposit scheme is to save taxes u/s 80C of the IT Act, 1961.
  • Provides the facility of the nominee.
  • In case the FD account is opened jointly, then only the first account holder is eligible to get tax benefits u/s 80C.
  • The interest on the FDs is compounded every quarter.
  • You can opt for either monthly or quarterly pay-outs.
  • You can get this FD through net banking as well.
  • HUFs and resident Indians of 18 years and more are eligible.

HDFC NRI Fixed Deposit:

The specifications of this scheme are:

  • The HDFC Bank provides multiple FD options to select from.
  • The minimum amount that is to be deposited for opening an account is Rs.25, 000, while this amount is Rs,1, 00, 000 for add-ons.
  • The tenure of this plan ranges from one year to 10 years.
  • The interest that is earned through this type of fixed deposit account is eligible for tax exemption from Indian Income Tax.

Overdraft Against Fixed Deposits:

The specifications of this scheme are:

  • This scheme provides you the facility to have two accounts together.
  • Being a depositor, you can select between a current account and a savings account for linking with an FD account.
  • The reward for the facility of overdraft is given to supplement your business or household requirements.
  • The interest that can be paid back applies only to the amount you have drawn, whereas the remaining FD amount will continue to earn the interest.
  • HUFs, resident Indians, public and private limited companies are eligible to take the benefit of this scheme.

Documents Needed to Open an FD Account with HDFC Bank

The list of documents that are required for opening an FD account with HDFC Bank are:

  • Latest photograph
  • PAN card
  • Identity proof and
  • Residence proof

Table of FD Interest Rates in HDFC Bank

HDFC bank offers multiple Fixed Deposit options wherein you can invest your surplus money for a fixed period. The HDFC Bank FD interest rates are also decent so you get good returns. The depositors are needed to deposit only once while opening the account with the bank and the money is secured for a fixed chosen tenure. You cannot deposit in between the tenure and no funds can be withdrawn. The interest rate for FDs lesser than Rs. 2 crores are mentioned in the below table:

Tenure

Less than 2 Crore Rupees

Annual FD Interest Rate ( in % )

Annual Senior Citizen FD Interest Rates (in %)

Between 7 & 14 days

3.50%

4.00%

Between 15 & 29 days

4.00%

4.50%

Between 30 & 45 days

4.75%

5.25%

Between 46  &  60 days

5.25%

5.75%

Between 61  & 90 days

5.25%

5.75%

Between 91 days  & 6 months.

5.25%

5.75%

Between 6 months. 1 day & 6 months. 3 days

5.65%

6.15%

Between 6 months. 5 days & 9 months.

5.90%

6.40%

1 Yr.

6.15%

6.65%

Between 1 Yr. 1day-2 Yr.

6.15%

6.65%

Between 1 yr. 1 day &  1 yr. 3 days

6.25%

6.75%

Between 1 yr. 5 days & 1 Yr. 15 Days

6.15%

6.65%

Between 5 Yrs. 1 Day & 8 Yrs.

6.15%

6.65%

*These domestic /NRO /NRE FD interest rates are as applicable on/from March 18th, 2020

HDFC FD Interest Rates Between Rs. 2 crore and Rs. 5 Crores:

The HDFC FD interest rates are decent and if multiplying your savings is your aim, then you should opt for this bank’s fixed deposit. The bank offers easy investment through internet banking or phone banking with traditional offline mode. The FD interest rates in HDFC bank for Rs.2 Crore to Rs.5 Crore are mentioned in the below table:

Tenure

 From Rs. 2 Crore to Rs. 5 Crores

Annual FD Interest Rate ( in % )

Annual Senior Citizen Rates (in %)

Between 7 & 14 days

4.00%

4.50%

Between 15 & 29 days

4.00%

4.50%

Between 30 & 45 days

4.50%

5.00%

Between 46 & 60 days

4.75%

5.25%

Between 61 & 90 days

4.75%

5.25%

Between 91 days & 6 months.

5.00%

5.50%

Between 6 months. 1 day & 6 months. 3 days

5.50%

6.00%

Between 9 months. 1 day & 9 months. 3 days

5.50%

6.00%

1 Year

5.50%

6.00%

Between 2 yrs. 17 days & 3 yrs.

5.50%

6.00%

Between 3 yrs. 1day & 5 yrs.

5.50%

6.00%

Between 5 yrs. 1 day & 8 yrs.

5.50%

6.00%

Between 8 yrs. 1 day & 10 yrs.

5.50%

6.00%

HDFC Bank Long-Term Fixed Deposits

FD with a lock-in period of >=5 years are considered as long-term FDs-

  • If you invest your money in a long-term FD then you will get the return according to the interest rate of 6.15% per annum, if the money deposited is less than 2 crore rupees.
  • If the money invested is above Rs.2 crore then the applicable interest rate is 5.50%.
  • Usually, the HDFC FD interest rates in long-term FDs is kept constant
  • The tenure of investment in a long-term FD can range between 5 years 1 day and 10 years
  • The tenure options range between 5 years 1 day to 8 years, and 8 years 1 day to 10 years

HDFC Bank Medium-Term Fixed Deposits

FD with a lock-in period of 1 to 5 years are considered as medium-term FDs-

  • You can safely park your money or saving in a medium-term FD to meet your medium-term goals such as education fees, buying a car or a vacation
  • You will get the highest interest rate in HDFC bank. The highest HDFC Bank FD rates paid in this slot is 5.50% p.a.
  • The tenure of investment in a long-term FD can range between 1 year 17 days and 5 years.

HDFC Bank Short Term Fixed Deposits

FD with a tenure ranging from 7 days to 9 months 17 days are considered as short-term FDs-

  • There are several tenure options when it comes to opening an FD account with HDFC Bank
  • The HDFC Bank FD rates range between 3.50% per annum and 6.15 % for investments less than 2 crore rupees
  • The HDFC FD interest rates range between 4.00 % per annum and 5.50 % for investments of more than 1 crore rupees.

HDFC Bank Senior Citizen FD Rates

HDFC Bank FD rates for senior citizens is 0.5% more than normal HDFC FD interest rates. To get the best HDFC senior citizen FD rates, it is suggested to invest at least five years and one day. A senior citizen can also get a loan against his/her FD which is not provided in the normal tax saver FD scheme of HDFC having a lock-in period of five years.

  • The FD interest rates in HDFC Bank for investments lesser than 2 crore rupees range from 4.00% to 6.65%
  • The HDFC Bank FD rates for investments above 2 crore rupees range from 4.50% to 6.00%
  • The highest HDFC FD interest rates paid are 6.65% p.a. for a tenure that ranges from 1 year 17 days to 5 years

How to Calculate HDFC Bank FD Rates?

If you want to know the exact HDFC Bank FD rates then you should use its FD Calculator.

HDFC Bank FD calculator will help you in finding out how much you earn through an FD. It will also help you in choosing the investment amount and the tenure of investment.

Furthermore, you can know that total interest earned and the maturity value of your FD with the help of an online HDFC Bank FD rates calculator.

To know the maturity amount, simply enter the type of FD, the rate of interest, tenure, and the principal amount.

Know More About HDFC Fixed Deposit

HDFC NRI FD Interest Rates - You are eligible to buy an HDFC NRE FD scheme if you are a non-resident individual of Indian origin or Indian nationality. It is a great option to park your savings in India and earn interest in your home country.

HDFC Bank offers competitive interest rates on NRI FD accounts such as NRO, NRE, and FCNR savings.

There are various advantages of buying these FDs such as overdraft facility, higher interest rate, and tax deductions. There are flexible tenure options such as short-term, medium-term, and long-term FDs.

  • HDFC NRE & NRO fixed deposit interest rate ranges from 3.50% to 6.15%.
  • The best interest rate offered for HDFC Bank Fixed Deposits lesser than INR 2 crore is 6.15% and 6.65% for individuals and senior citizens investing respectively.
  • The best interest rate offered for HDFC Bank Fixed Deposits more than INR 2 crore is 5.50% and 6.00% for individuals and senior citizens investing respectively.

Who Should Opt for an HDFC FD?

Fixed Deposits from HDFC are recommended for those who are looking for a simple investment option through internet banking or phone banking apart from the traditional mode of offline banking.

If you have the aim of increase your savings without any major risk, then you should opt for an HDFC FD. For getting decent FD interest rates in HDFC Bank, it is suggested to keep your FD for at least one year. 

The senior citizens are suggested to invest in the FD scheme of HDFC for senior citizens which is HDFC Senior Citizen Care FD. Under this scheme, the senior citizens will get a higher HDFC FD interest rates with an extra 0.75% over the basic HDFC Bank FD rates. To get the benefit of this scheme, you need to invest for a minimum of 5 years and one day. You can as well opt for a loan against your FD, which is not provided in a simple HDFC tax-saver FD having a lock-in period of five years.

The validity of this FD scheme is 30th September 2020 and you must invest in it for getting the best possible HDFC Bank FD rates.

As well, the deposits that are made in HDFC Bank are insured for a maximum of Rs.5 Lakh by DICGC.

Eligibility Criteria

The below-mentioned groups and individuals can opt for the Regular Fixed Deposit scheme of HDFC:

  • Hindu Undivided Families (HUFs)
  • Residents
  • Sole Proprietorship firm
  • Limited companies
  • Trusts
  • Partnership companies

The below-mentioned groups or individuals can opt for a 5-year tax-saving fixed deposit scheme:

  • HUFs
  • Indian residents

The Interest Rate for Savings Bank Deposit Accounts -

Savings Bank balance (in Rs.)

Interest Rate (in %)

50 lacs & above

4

< 50 lacs.

3.50

If you want to deposit money in your HDFC NRE Fixed Deposit Account, you can-

  • Furnish your foreign currency notes or traveler's cheque during a visit to India
  • Transfer funds in an easily convertible foreign currency
  • Transfer funds from an existing Foreign Currency Non-Repatriable account (FCNR)/ Non-Resident Rupee (NRE) Account held in any other banks
  • Directly remit the amount to HDFC Bank

Avail Loans

  • HDFC offers an option buy loan up to the tenure of the Fixed deposit
  • The bank provides loan up to 75 percent of its own Fixed Deposit
  • The rate of interest on the loan that is applicable is between 8.3 percent and 8.4 percent

HDFC will give you the loan against HDFC Bank Fixed Deposits only.

Multiple FDs

If you do not want to put all your savings in one deposit, then it is advisable that to put your money in multiple Fixed Deposits. It also offers you tax saving benefits apart from the interesting returns. Financial planners suggest putting your money in multiple FDs for a time horizon of one year to reap maximum benefits.

HDFC FD Interest Rates FAQs

HDFC Fixed Deposit News

  • HDFC Bank to Launch Special Fixed Deposit Scheme for Senior Citizens – A Brief Description

    Synopsis: The new scheme for senior citizens launched by HDFC bank is termed as ‘Senior Citizen Care FD’. It is applicable for new deposits made for FD and FD renewals applied by the senior citizens between 18th May 2020 to 30 September 2020. After the launch of the Fixed Deposit scheme for senior citizens by the State Bank of India, it is HDFC Bank that has launched a senior citizen FD scheme with the name of ‘Senior Citizen Care FD’.

    As per the website of HDFC Bank, it is going to offer an extra 75 basis points (bps) for deposits of more than five years having an investment of up to Rs. Five Crore. The people who want to invest in this scheme should invest between 18th May 2020 to 30th September 2020.

    The website of the bank also says that the senior citizens will be getting an extra premium of .25%, which will be above .50% of the current premium. Therefore, for now, the deposits that are less than Rs. Two Crore with tenure of five years and one day up to ten years, the rate of interest for non-senior citizens will be 5.75% and for the senior citizens, it will be 6.5% per annum.

    The key points to be noted here are:

    • The scheme ‘Senior Citizen Care FD’ is applicable for new FD deposits as well as renewals applied by the senior citizens between 18th May 2020 to 30th September 2020. The NRIs cannot avail this offer.
    • In the situation of premature closure of this scheme i.e. before completion of five years (partial closure or sweep in), the rate of interest will be 1% lesser than the contracted rate or the base rate that is appliable for the time the amount remains in the bank or whichever is lower.
    • In the situation of premature closure of the FD that is booked in the above-mentioned offer, including the partial closure/ sweep in, after five years the rate of interest will be 1.25% lesser than the contracted rate or the base rate that is applicable for the time the deposit is in the bank, whichever is lesser.

    With this, the HDFC bank has as well revised the interest rates of Fixed Deposits starting from 18th May 2020. As per this website, the Fixed Deposits of different tenures will now get interest rates within the range of 3% to 5.75% per annum, and the senior citizens will get 3.5% to 6.5%.

Written By: PolicyBazaar - Updated: 05 October 2020
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