- *T&C Applied. Returns guaranteed by the Insurer as per the Insurance Plans.
- **Returns guaranteed by the insurer
- *** Tax adjusted Returns - assuming 30% tax bracket
Hdfc Bank FD Interest Rates, March 2020
|Tenure||General Public FD Rates||Senior Citizen FD Rates|
|7 days to 14 days||3.50%||4.00%|
|15 days to 29 days||4.00%||4.50%|
|30 days to 45 days||4.90%||5.40%|
|46 days to 90 days||5.40%||5.90%|
|91 days to 6 months||5.40%||5.90%|
|6 months 1 day to 9 months||5.80%||6.30%|
|9 months 1 day to 1 year||6.05%||6.55%|
|1 year 1 day to 2 years||6.30%||6.80%|
|2 years 1 day to 3 years||6.40%||6.90%|
|3 years 1 day to 5 years||6.30%||6.80%|
|5 years 1 day to 10 years||6.30%||6.80%|
HDFC Bank Fixed Deposit
A fixed deposit means fixed and secured return on the principal amount. FDs offer the flexibility of withdrawing the deposited money at a short notice for urgent requirements.
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. By opening an FD account with HDFC Bank you can earn higher returns against the deposited amount.
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 the 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
There are various advantages of HDFC fixed deposit scheme. Some of them are listed below-
- It offers the ease of booking the FD online
- 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 sweep in 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
- The higher rate of interest on FDs for Senior Citizens
- Option to book a quarterly and monthly payouts
HDFC Fixed Deposit Interest Rates Table
Interest rate for FDs lesser than Rs. 2 crore:
|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%|
|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:
|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%|
|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 6.50% per annum, if the money deposited is less than 1 crore rupees.
- If the money invested is above 1 crore then the applicable interest rate is 7.00%.
- Usually, the rate of interest rate 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 FD rate paid in this slot is 7.00% 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 a number of tenure options when it comes to opening an FD account with HDFC Bank
- The rate of interest ranges between 3.50% per annum and 7.10 % for investments less than 1 crore rupees
- The rate of interest ranges between 4.25 % per annum and 7.35 % for investments of more than 1 crore rupees
HDFC Bank Senior Citizen FD Rates
HDFC Bank offers an additional interest rate of 0.5% to senior citizens investing in HDFC FD accounts.
- The rate of interest for investments lesser than 1 crore rupees range from 4.00% to 7.90%
- The rate of interest for investments above 1 crore rupees range from 75% to 8.00%
- The highest rate of interest paid is 7.50% p.a. for a tenure that ranges from 1 year 17 days to 5 years
How to Calculate HDFC Fixed Deposit Interest Rate?
If you want to know the exact interest rate that is applicable for HDFC Bank FDs then it is advisable that you use the HDFC Bank FD Calculator.
HDFC Bank Fixed Deposit calculator will help you in finding out how much you earn though 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 FD interest 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 7.40%.
- The best interest rate offered for HDFC Bank Fixed Deposits lesser than INR 1 crore is 7.45% and 7.90% for individuals and senior citizens investing respectively.
- The best interest rate offered for HDFC Bank Fixed Deposits more than INR 1 crore is 7.50% and 800% for individuals and senior citizens investing respectively.
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 travelers 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
- 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.
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 Fixed Deposit FAQs
Q1. What is the highest interest rate for HDFC Fixed Deposits?
The highest rate of interest that you can get on HDFC FD is 8 percent for a medium-term FD ranging between INR 1 crores and 5 crores. For FDs lesser than 1 crore rupees, you can earn the best interest rate of 7.90% again for medium-term deposits.
Q2. Are there any special rates for HDFC senior citizens FD?
Yes, HDFC bank provides an additional 0.5 percent rate of interest for senior citizen fixed deposits.
Q3. What is the tenure range for HDFC Bank Fixed Deposit?
You can open an FD with HDFC bank for a tenure of minimum 7 days and a maximum of 10 years.
Q4. Is there any minimum amount that I have to give for opening a Fixed Deposit with HDFC Bank?
You can start your HDFC bank Fixed deposit with a minimum of Rs. 5000.
Q5. Who is eligible for opening an HDFC Fixed Deposit Account?
Below are the groups and individuals who are eligible to open a Regular HDFC Fixed Deposit Account-
- Hindu undivided families
- Partnership firms
- Sole proprietorship firms
- Trust accounts
- Limited companies
Q6. What documents are required to open an FD account in HDFC Bank?
To open an HDFC Fixed Deposit account you need to deposit a minimum of 5000 rupees. Your PAN card is also required if you are depositing more than 50,000 rupees.
For senior citizens, age proof is also required and you can submit any of the below-mentioned documents as your age-proof-
- LIC Policy
- School Leaving Certificate (10th Class)
- PAN Card
- Pension Payment Order ( if any)
- Voters ID card
- Birth Certificate
- PSU Issued ID Cards
- Defense or Govt. ID Card
- Senior Citizen Cards issued by Indian Railways or Indian Airlines
Q7. Can I change the span of my current HDFC fixed deposit account?
Once an FD account is opened with HDFC bank, you cannot change its tenure. In this case you will have to close your current FD account and then open a new FD account for the required tenure.
Q8. What are the consequences of opening a Fixed Deposit account without a PAN card?
The consequences of opening an fixed deposit account without a PAN card-
- TDS will be recovered at 20 percent instead of 10 percent
- The Income Tax department will not give you any TDS credit
- A TDS certificate will also not be issued
- Tax exemption certificates and Form 15G/H will not be applicable
- Penal TDS will be applicable
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