HDFC Bank offers several Non-Resident Indian (NRI) fixed deposit accounts. These accounts are available in different tenure options and offer competitive HDFC NRI FD rates. These fixed deposits can be held by Non-Resident Indians (NRIs) and Person of Indian Origin (PIO). Read further to know the prevailing HDFC Bank NRI fixed deposit interest rates along with the types of NRI FD available.
| Tenure | HDFC Bank NRE FD Rates (p.a) | |
| Deposit – Less than Rs. 2 crore | Deposit – Rs. 2 crore to less than Rs. 5 crore | |
| 1 year | 4.90% | 3.75% |
| 1 year 1 day – 2 years | 4.90% | 3.75% |
| 2 years 1 day – 3 years | 5.15% | 4.40% |
| 3 years 1 day- 5 years | 5.30% | 4.40% |
| 5 years 1 day – 10 years | 5.50% | 4.40% |
(Interest rates are effective from 21st May 2021)
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| HDFC Bank NRO FD Rates (p.a.) | ||
| Tenure | Deposits < Rs. 2 crore | |
| Days/Years | Regular Citizens | Senior Citizens |
| 7 – 14 days | 2.50% | 3.00% |
| 15 – 29 days | 2.50% | 3.00% |
| 30 – 45 days | 3.00% | 3.50% |
| 46 – 60 days | 3.00% | 3.50% |
| 61 – 90 days | 3.00% | 3.50% |
| 91 days – 6 months | 3.50% | 4.00% |
| 6 months 1 day – 9 months | 4.40% | 4.90% |
| 9 months 1 day < 1 year | 4.40% | 4.90% |
| 1 year | 4.90% | 5.40% |
| 1 year 1 day – 2 years | 4.90% | 5.50% |
| 2 years 1 day – 3 years | 5.15% | 5.65% |
| 3 years 1 day- 5 years | 5.30% | 5.80% |
| 5 years 1 day – 10 years | 5.50% | 6.25%* |
(Interest rates are effective from 21st May 2021)
Note: *An Additional Premium of 0.25% (over and above the existing premium of 0.50%) shall be given to Senior Citizens who wish to book the Fixed Deposit less than 5 crores for a tenure of 5 (five) years One Day to 10 Years, during special deposit offer commencing from 18th May’20 to 30th June 2021.
| Period | GBP | USD | Euro | JPY | AUD | CAD | Effective On |
|---|---|---|---|---|---|---|---|
| 1Yr to < 2 Yrs | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | July 1, 2021 |
| 2Yr to < 3 Yrs | NA | 0.01% | NA | NA | 0.01% | 0.01% | July 1, 2021 |
| 3 Yrs to < 4 Yrs | NA | 0.01% | NA | NA | 0.01% | 0.10% | July 1, 2021 |
| 4 Yrs to < 5 Yrs | NA | 0.01% | NA | NA | 0.01% | 0.30% | July 1, 2021 |
| 5 Yrs only | NA | 0.01% | NA | NA | 0.15% | 0.40% | July 1, 2021 |
Note: All figures are in %. Interest rates are applicable to deposits with effect from 1st July 2021.
| Tenure | GBP | USD | EURO | JPY |
| 1 year – less than 2 years | 0.01% | 0.01% | 0.01% | 0.01% |
| 2 years – less than 3 years | 0.01% | 0.01% | 0.01% | 0.01% |
| 3 years | 0.01% | 0.01% | 0.01% | 0.01% |
Note: These HDFC FD rates are applicable to deposits with effect from 1st July 2021.
1. Fixed Deposit Rupee Accounts
2. Fixed Deposit Foreign Currency Accounts
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An account designed to help NRI customers manage their foreign income in Indian banks. Funds in this account are withdrawable in Indian National Rupee (INR) and can be used to settle finances in India. It is not taxable in India and the entire fund value is fully repatriable, i.e. transferable.
| Particulars | Details |
| Tenure | 1 – 10 years |
| Eligibility | Non-resident Indian or Person of Indian Origin (NRI or PIO) |
| Min. Deposit Amount | Initial Deposit: Rs. 25,000 Add-On: Rs. 10,000 |
| Taxable in India | No |
| Premature Withdrawal | Allowed |
| Loan against FD | Overdraft up to 90% of the deposit amount |
| Features |
|
This is a type of fixed deposit by HDFC bank for its Non-Resident Indian customers to help them save tax in India on deposits while multiplying their funds. Details about the scheme are stated below:
| Particulars | Details |
| Tenure | 5 years (lock-in) |
| Eligibility | NRIs, PIOs, Returning Indians |
| Min. Deposit Amount | Rs. 100 |
| Taxable in India | Yes |
| Premature Withdrawal | Not allowed |
| Loan against FD | Not allowed |
| Features |
|
It is an option provided to NRIs to deposit their foreign earnings in Indian fixed deposit account without converting into INR. Detailed information about the same is tabulated below:
| Particulars | Details |
| Tenure | 7 days – 10 years |
| Eligibility |
|
| Min. Deposit Amount | Rs. 25,000 Add-Ons: Multiples of Rs. 10,000 |
| Taxable in India | Yes |
| Premature Withdrawal | Allowed (1% penalty) |
| Loan against FD | Overdraft of up to 90% of the deposit (only for NRO CASA Account) |
| Features |
|
This is a cover provided for customers of FCNR fixed deposit. It provides shield to the customers from foreign exchange risk.
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Non-residents are given the option to deposit their foreign earnings without having to convert into INR. Below are the features as well as benefits extended to the customers under this scheme:
| Particulars | Details |
| Tenure | 1 – 5 years |
| Eligibility | NRIs and/or PIOs (Non-Resident Indians and/or Persons of Indian Origin) |
| Min. Deposit Amount | USD/ AUD/ CAD: 1,000 JPY: 7,50,000 GBP & Euro: 2,500 Add-Ons: 1,000 for all currencies |
| Taxable in India | No |
| Loan against FD | Overdraft facility available with Super Saver Facility |
| Features |
|
HDFC Bank has extended foreign currency deposit facility for residents of India to better manage their foreign earnings in fixed deposit accounts. This is specially made for Returning Indians. Check the details provided in the table further:
| Particulars | Details |
| Tenure | 29 days – 3 years |
| Eligibility |
|
| Taxable in India | Yes |
| Premature Withdrawal | Available (1% penalty) |
| Features |
|
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Customers of HDFC Bank NRI deposits are given the option to take loan or avail overdraft facility against their fixed deposits made with the bank. This lets the depositors keep their FD intact in times of need.
| Types of NRI Fixed Deposit | Overdraft Limit (% of the deposit amount) |
| NRE | 90% |
| NRO | 90% |
| FCNR | 70% |
The following documents must be checked when opening an NRI deposit with the HDFC Bank:
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To open a NRI fixed deposit account with HDFC Bank, customers can choose either of the two options, viz. offline mode or online mode (HDFC Netbanking / HDFC Mobile Banking).
Offline Mode:
Collect all the required documents mentioned above. Search the nearest branch of HDFC Bank to your residence. Walk into the branch office and ask the branch personnel to open the preferred NRI fixed deposit account. The concerned bank personnel shall walk you through the application process.
Online Mode:
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Q. What is the highest HDFC NRE Fixed Deposit rate?
A. The highest NRE FD rate one can fetch with HDFC Bank is 5.50% for deposits less than Rs. 2 crores on tenure 5 years 1 day – 10 years.
Q. Who can open an NRE FD with HDFC Bank?
A. Non-resident Indians with valid visas and passports can apply for NRI deposits with HDFC Bank.
Q. What is the penalty charged by HDFC Bank on premature withdrawal of NRI deposits?
A. There is a penalty of 1% charged on premature withdrawal of NRI FD.
Q. Is there any tax on HDFC NRE Fixed Deposit?
A. No. NRE FD with HDFC Bank does not attract any taxes in India. However, it shall be chargeable in the residence country of the depositor.
Q. What are the online facilities available with HDFC Bank to manage NRI fixed deposit accounts?
A. The following facilities are available online for HDFC NRI FD:
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