HDFC Bank NRE FD Rates

HDFC Bank Limited is the largest private banking sector that provides various investing and saving options for their customers to be benefited financially. The Fixed Deposit service is also included in that option. HDFC Bank provides opportunities for both Residential Indians and NRIs to invest in the fixed deposit.

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What is meant by an FD?

FD is a service related to m1y provided by banking institutions to invest the customer's m1y for a period of time. The customer will receive interest based on the amount deposited with the scheme. The fixed period is called maturity, and the deposit deposited doesn’t have an option to withdraw upon this maturity's incompletion. Some banks provide an option for their customers to withdraw the amount for emergency purposes, and they will be fined a penalty amount. A Fixed Deposit can earn more interest rates than a regular savings account. Here is some vital information that the depositor needs to keep in mind about the HDFC Bank NRE FD rates and invest in them. 

Types of FD for NRI

The HDFC Bank provides several categories of fixed deposits to invest and earn from them. The FD types and the HDFC Bank NRE Fixed Deposit rates are listed below:

Non-Resident External Fixed Deposit

  • This fixed deposit amount can be withheld with the Bank for a period ranging from 1 year to 10 years.
  • You can also nominate a person for the fixed deposit.
  • The Bank also provides an option to open a joint account with other Non-Residential Indians.
  • You can also avail yourself of an option to withdraw some amount before completing the period of maturity. i.e., partial withdrawal facility is associated considering the HDFC Bank NRI FD rates. 
  • The deposit can be directly deposited with the Bank or can be transferred from any FCNR/ NRE account held by the investor. 

Non-Residential Ordinary Fixed Deposit

  • The NRO FD account's initial deposit is Rs. 25,000 as its minimum value and the deposits can be increased by Rs. 10,000 when booked on add deposits option.
  • You can transfer the amount using an on-going NRO/NRE account in any other bank. 
  • You can choose between the options in which the interest amount is paid to you. The interest shall be paid every month or quarterly or at the end of the maturity. 
  • The tenure time ranges from seven days to 10 years. 
  • There is an option for you to hold a joint account with any NRIs or Residential Indians. 

FCNR Fixed Deposit

  • By the HDFC Bank NRI FD rates, the period of maturity varies between 1 year and 5 years.
  • The investment in FCNR FD can be made in six foreign currencies.
  • A nomination facility is available for the investors.
  • The investors are also given an option to open a joint FD account with NRIs.
  • The deposit can be directly deposited with the Bank or can be transferred from any FCNR account held by the investor. 

RFC Fixed Deposit

  • The amount can be invested in 4 foreign currencies.
  • The deposit can be transferred from any FCNR/ NRE account held by the investor. 
  • This lowers the risks related with foreign exchange rates and helps to protect the savings. 

Rates Associated with the FD Types

Here is a rundown to the rates associated with the types of FD:

Non-Resident External Fixed Deposit

The HDFC Bank NRE Fixed Deposit rates for an amount less than 2 Crore are:

  • 1 year to below 2 years – 4.90%
  • 2 years to below 3 years – 5.15%
  • 3 years to below 5 years – 5.30%
  • 5 years to 10 years – 5.50%

The HDFC Bank NRE FD rates for an amount above 2 Crore to less than 5 Crore are:

  • 1 year to below 2 years – 3.75%
  • 2 years to below 3 years – 4.25%
  • 3 years to below 5 years – 4.25%
  • 5 years to 10 years – 4.25%

The HDFC Bank NRE FD rates for an amount above 5 Crore to less than 5.25 Crore are:

  • 1 year to below 2 years – 3.75%
  • 2 years to below 3 years – 4.25%
  • 3 years to below 5 years – 4.25%
  • 5 years to 10 years – 4.25%

Non-Residential Ordinary Fixed Deposit

The HDFC Bank NRI FD rates for an amount less than 2 Crore are:

  • Seven to below 15 days – 2.50%
  • 15 to below 30 days – 2.50%
  • 30 to below 46 days – 3.00%
  • 46 to below 61 days – 3.00%
  • 61 to below 90 days – 3.00%
  • 91 to below six months – 3.50%
  • Six months to 1 year – 4.40%
  • 1 year to below 2 years – 4.90%
  • 2 years to below 3 years – 5.15%
  • 3 years to below 5 years – 5.30%
  • 5 years to 10 years – 5.50%

The HDFC Bank NRE Fixed Deposit Rates for an amount above 2 Crore to less than 5 Crore are:

  • Seven to below 15 days – 2.50%
  • 15 to below 30 days – 2.50%
  • 30 to below 46 days – 2.75%
  • 46 to below 61 days – 2.75%
  • 61 to below 90 days – 3.00%
  • 91 to below six months – 3.00%
  • Six months to 1 year – 3.65%
  • 1 year to below 2 years – 3.75%
  • 2 years to below 3 years – 4.25%
  • 3 years to below 5 years – 4.25%
  • 5 years to 10 years – 4.25%

The HDFC Bank NRE FD rates for an amount above 5 Crore to less than 5.25 Crore are:

  • Seven to below 15 days – 2.50%
  • 15 to below 30 days – 2.50%
  • 30 to below 46 days – 2.75%
  • 46 to below 61 days – 2.75%
  • 61 to below 90 days – 3.00%
  • 91 to below six months – 3.00%
  • Six months to 1 year – 3.65%
  • 1 year to below 2 years – 3.75%
  • 2 years to below 3 years – 4.25%
  • 3 years to below 5 years – 4.25%
  • 5 years to 10 years – 4.25%

FCNR Fixed Deposit

The HDFC Bank NRE FD rates associated with the currency GBP are:

  • 1 year to below 2 years – 0.01%
  • 2 years to below 3 years – 0.01%
  • 3 years to 4 years – 0.01%
  • 4 years to 5 years – 0.01%
  • 5 years – 0.01%

The HDFC Bank NRI FD rates for the currency USD are:

  • 1 year to below 2 years – 0.01%
  • 2 years to below 3 years – 0.01%
  • 3 years to 4 years – 0.01%
  • 4 years to 5 years – 0.01%
  • 5 years – 0.20%

The HDFC Bank NRI Fixed Deposit rates for the currency EURO are:

  • 1 year to below 2 years – 0.01%
  • 2 years to below 3 years – 0.01%
  • 3 years to 4 years – 0.01%
  • 4 years to 5 years – 0.01%
  • 5 years – 0.01%

The HDFC Bank NRE FD rates for the currency JPY are:

  • 1 year to below 2 years – 0.01%
  • 2 years to below 3 years – 0.01%
  • 3 years to 4 years – 0.01%
  • 4 years to 5 years – 0.01%
  • 5 years – 0.01%

The HDFC Bank NRI FD rates for the currency AUD are:

  • 1 year to below 2 years – 0.01%
  • 2 years to below 3 years – 0.01%
  • 3 years to 4 years – 0.01%
  • 4 years to 5 years – 0.01%
  • 5 years – 0.20%

The HDFC Bank NRI Fixed Deposit rates for the currency CAD are:

  • 1 year to below 2 years – 0.01%
  • 2 years to below 3 years – 0.01%
  • 3 years to 4 years – 0.01%
  • 4 years to 5 years – 0.05%
  • 5 years – 0.50%

RFC Fixed Deposit

The HDFC Bank NRI FD rates for the currency GBP are:

  • Below 30 days – 0.01%
  • 30 days to below 3 months – 0.01%
  • 3 months to below six months – 0.01%
  • Six months to below 1 year – 0.01%
  • 1 year to below 2 year – 0.01%
  • 2 years to 3 years – 0.01%

The HDFC Bank NRE FD rates for the currency USD are:

  • Below 30 days – 0.01%
  • 30 days to below 3 months – 0.01%
  • 3 months to below six months – 0.01%
  • Six months to below 1 year – 0.01%
  • 1 year to below 2 year – 0.01%
  • 2 years to 3 years – 0.01%

The HDFC Bank NRE Fixed Deposit rates for the currency EURO are:

  • Below 30 days – 0.01%
  • 30 days to below 3 months – 0.01%
  • 3 months to below six months – 0.01%
  • Six months to below 1 year – 0.01%
  • 1 year to below 2 year – 0.01%
  • 2 years to 3 years – 0.01%

The HDFC Bank NRE FD rates for the currency JPY are:

  • Below 30 days – 0.01%
  • 30 days to below 3 months – 0.01%
  • 3 months to below six months – 0.01%
  • Six months to below 1 year – 0.01%
  • 1 year to below 2 year – 0.01%
  • 2 years to 3 years – 0.01%

Conclusion

The HDFC Bank provides an opportunity for the Non-Residential Indians to make an investment in the fixed deposit services in India. The Banks control the HDFC Bank NRE FD rates, and the rates are subjected to changes. 

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C apply.

“Tax benefit is subject to changes in tax laws”

Written By: PolicyBazaar - Updated: 31 August 2021

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