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Fixed Deposit

HDFC Bank offers a wide array of Fixed Deposit Schemes to fulfil the requirements of every individual for a short term or long term tenure. The bank provides various types of deposit schemes like Regular Fixed Deposit Account or Recurring Deposit scheme and Tax-saving Fixed Deposit Account to help individuals save a proportionate amount monthly. Further, the deposited amount would earn returns periodically at a particular interest rate.
 

HDFC fd interest ratesFeatures of HDFC Fixed Deposit
 

  • The interest is compounded quarterly and the instalments once fixed cannot be altered.
  • Only the principal amount is refunded if the deposit account is closed before the lock-in of 1 month.
  • Interest is paid only on maturity.
  • Minimum tenure is 6 months and thereafter, the tenure should be availed in multiples of 3 months like 9 months, 12 months, 15 months and so on.
  • Minimum deposit should be Rs.1000 and thereafter in multiples of Rs.100 like Rs.1100, 1200 and so on.
  • TDS is deducted if the total interest amount exceeds Rs.10, 000 in a year and the rate is same as that under the Regular Fixed Deposit Scheme.
  • Nomination Facility is available through netbanking.

HDFC FD Rates 2018

The table given below shows HDFC FD Interest Rates for varied tenures- both for regular citizens and senior citizens:
 

FD Tenure

Interest Rates (in %)

Regular Citizens Senior Citizens
7 – 14 days 3.50% 4.00%
15 – 29 days 4.25% 4.75%
30 – 45 days 5.50% 6.00%
46 – 60 days 5.75% 6.25%
61 – 90 days 5.75% 6.25%
91 days – 6 months 5.75% 6.25%
6 months 1 day- 6 months 3 days 6.00% 6.50%
6 months 4 days 6.00% 6.50%
6 months 5 days- 9 months 6.00% 6.50%
9 months 1 day- 9 months 3 days 6.00% 6.50%
9 months 4 days 6.00% 6.50%
9 months 5 days – 9 months 15 days 6.00% 6.50%
9 months 16 days 6.25% 6.75%
9 months 17 days < 1 Year 6.25% 6.75%
1 Year 6.75% 7.25%
1 year 1 day – 1 year 3 days 6.75% 7.25%
1 year 4 days 6.25% 6.75%
1 year 5 days – 1 Year 15 Days 6.25% 6.75%
1 Year 16 days 6.25% 6.75%
1 year 17 days – 2 Years 6.25% 6.75%
2 years 1day – 2 Years 15 days 6.00% 6.50%
2 Years 16 days 6.00% 6.50%
2 years 17 days – 3 Years 6.00% 6.50%
3 years 1day – 5 years 6.00% 6.50%
5 Years 1 Day – 8 Years 6.00% 6.50%
8 Years 1 Day – 10 Years 6.00% 6.50%

Note: HDFC FD Interest Rates are subject to change from time to time without prior notification.

Types of HDFC Fixed Deposit Schemes

  1. HDFC Regular Fixed Deposit Scheme
  2. HDFC Tax Saving Fixed Deposit Scheme
  3. HDFC Recurring Deposit
  4. HDFC Dream Deposit

HDFC Regular Fixed Deposit Scheme

The Regular Fixed Deposit Account can be opened for both short term and a long term.

The account can be opened for as low as Rs.5000 by filling up an online application form.


The Following are Eligible to open the Account
 

  • Residents
  • HUFs
  • Sole Proprietorship Firms
  • Partnership Firms
  • Limited companies
  • Trust Accounts

For opening HDFC Fixed Deposit account, you will have to submit a copy of identity proof and address proof. However, those who already have a savings account with HDFC Bank may only have to submit a copy of PAN and Bank Passbook. The following are accepted as valid proof of identity and address-

Identity Proof:
 

  • Aadhaar Card
  • Passport
  • PAN Card
  • Voter ID Card
  • Driving licence
  • Government ID Card
  • Photo Ration Card
  • Senior Citizen ID Card

Address Proof:
 

  • Aadhaar Card
  • Passport
  • Telephone bill
  • Electricity bill
  • Bank Statement with Cheque
  • Certificate/ ID card issued by Post office
  • One should note that PAN is mandatory to book Fixed Deposits if the total Fixed Deposit holding per customer ID per branch exceeds Rs 50,000.

HDFC Tax Saving Fixed Deposit Scheme

This Fixed Deposit scheme is opened with the sole purpose of tax saving where the deposits are eligible for tax exemption under Section 80C of the Income Tax Act.

Features and Benefits
 

  • The minimum amount any user can deposit in the HDFC Tax Saving Fixed Deposit Scheme is Rs. 100 and in Multiples of Rs. 100 thereafter
  • The maximum amount, which can be deposited in this scheme is Rs. 1.5 Lakhs (in a Financial Year)
  • The Lock in Tenure – 5 Years (Lock In)
  • HDFC Tax Saving Fixed Deposit Scheme comes with Monthly and quarterly payout
  • The tax benefit under 80C, in case of joint deposits, is available only to the first holder of the deposit

Eligibility

The following are eligible to open the account:
 

  • Resident Individuals
  • HUFs

Tax Deductions under the Reinvestment Scheme

If the interest payable per year exceeds Rs.10, 000, TDS will be deducted and the relevant TDS Certificate will be sent to the customer showing the details of the Tax deducted. A new Form 15G or Form 15H will have to be submitted at the start of each financial year because the TDS is computed on the aggregate interest earned on all the cumulative Fixed Deposit.

HDFC Recurring Deposit

A HDFC Recurring Deposit scheme is the one where smaller investments can be made monthly and the corresponding HDFC Bank FD interest rates are similar to that of normal HDFC Fixed Deposit Schemes.

A Recurring Deposit comes with the following benefits:
 

  • The depositor will get interest rates on recurring deposit equal to that of regular fixed deposits for even a smaller investment per month
  • The minimum tenure for HDFC Bank recurring deposit is of 6 months (and in multiples of 3 months thereafter), up to a maximum tenure of 10 years
  • One can make an investment in recurring deposit for a minimum amount of Rs. 1000 (and in multiples of Rs. 100 thereafter) and to the maximum of Rs. 14,99,900 per month
  • Depositors get the convenience of submitting 15G/H form through NetBanking
  • Users can also nominate while booking the recurring deposit online

Eligibility

The following are eligible for opening a HDFC RD Account:
 

  • Resident Individuals
  • HUFs
  • Private & Public Limited Companies
  • Trusts & Societies

HDFC Dream Deposit

Since the banks are lowering interest rates on savings accounts nowadays, it is more beneficial for the users to invest in HDFC fixed deposits. Dream Deposit is an all new online deposit experience, which gives you the convenience of depositing money whenever it is available.

The following are eligible to open Dream Deposit account

  • All Resident Individuals

A Dream Deposit comes with the following Benefits:
 

  • Users can open their customized online Dream Deposit account any time via NetBanking
  • Dream Deposit account comes with the ‘Top-up’ option enabled to help you achieve your dream quickly
  • The interest rates on dream deposit is at par with regular fixed deposits even for a smaller investment per month
  • The minimum amount of investment any user can make is of Rs. 1000 (and in multiples of Rs. 100 thereafter) and the maximum amount of investment any user can make is of Rs. 14,99,900 per month
  • Any user can invest in dream deposit account for a minimum tenure of 6 months (and in multiples of 3 months thereafter) up to a maximum tenure of 10 years
  • The minimum limit of the top-up value per month is Rs. 1000 and the maximum limit is twice the monthly instalment
  • User will not be charged any extra charge on premature closing of dream deposit account
  • Comes with the convenience of submitting 15G/H through NetBanking
  • User can also fund the payment through top-up anytime, if fails to pay instalment before due date

Features of Dream Deposit

Following are some of the features of HDFC Bank Dream Deposit Account:
 

  • User can name the dream deposit according to the dream that you are saving for and witness a complete online experience
  • One can top-up anytime on the same amount, but up to a maximum of 3 times a month
  • User get the convenience of depositing any amount of money above the minimum limit of Rs 1000 (and in multiples of Rs. 100 thereafter)
  • Premature closure option available without any additional charge
  • The minimum interest earning period is one month
  • Instalment can also be deposited post the due date through NetBanking if funds are available in the account
  • User is not charged with any additional amount if he fails to make payment on due date

Lock in Period
 

  • The HDFC Bank Dream Deposit account comes with a minimum one month of lock-in period
  • If any user wants to make a premature closure within a month, then no interest shall be paid to the user and only the principal amount shall be returned

Maturity
 

  • Interest is paid only on maturity.
  • The Dream Deposit will be due for repayment and will mature post the completion of the given tenure, even if all the instalments are not paid and some are still left to be paid
  • The maturity amount of Dream Deposit is subject to the payment of instalments on time. If delayed, the maturity amount of the Dream Deposit shall change

Additional Features of HDFC Bank

Super Saver Facility: You can accelerate the benefits of Savings account or Current Account by linking it to your Fixed Deposit account. You can avail overdraft against the HDFC Fixed Deposit Account under this facility. An overdraft of up to 75% of the Fixed Deposit amount is allowed. The interest will be charged on the amount overdrawn while the Fixed Deposit will continue to earn interest. The interest will be charged on the amount drawn while the remaining Fixed Deposit will continue to earn interest. Super Saver Facility provides flexibility to the customer as he can alter the period of fixed deposit, maturity and payment instructions, principal amount and rollover mode before maturity of the rollover deposit.

Features and Benefits
 

  • The customer can also alter the period of deposit, maturity and payment instructions, principal amount and before the maturity of the deposit. The HDFC fixed deposit interest rates charged for the overdrawn amount is 2% over the applicable HDFC Fixed Deposit Rate for the period the amount is withdrawn.
  • The savings account will earn returns on an FD interest rate of 4% which is credited half-yearly on the credit balance. A resident individual (either singly or jointly), Hindu Undivided family (HUF), private and public limited companies are only eligible to avail the Super Saver facility.
  • A minimum deposit of Rs.25, 000 for a minimum period of 6 months and 1 day is required to open a Super Saver Account.

Eligibility
 

  • Resident Individual (sole or joint account)
  • Hindu Undivided Family
  • Private and Public limited companies
  • To avail Overdraft against HDFC Fixed Deposit Account, a minimum amount of Rs 25000 should be maintained for a minimum period of 6 months 1 day, to open an Overdraft against FD/Super Saver Account in addition to the Zero Balance Savings Account

Sweep-in Facility: Under this facility, if the balance in the Savings or Current Account falls below the minimum requirement then the funds auto-sweep from the fixed deposit account to the linked Savings or Current Account. The account holder can alter the period of deposit, maturity and payment instruction, principal amount and rollover period.

Features and Benefits
 

  • Under Sweep-in Facility, if any deficit occurs in the Savings or Current Account then the funds auto-sweep from the fixed deposit account linked to the Savings or Current Account
  • Deposits are broken down in units of Re.1 and the Sweep-in is triggered on Last IN First Out basis (LIFO) basis.
  • Auto-sweep in is available for resident individuals, Hindu Undivided Families (HUF), private and public limited companies, societies, trusts, etc. If the Fixed Deposit is held for less than 7 days, the interest for the amount transferred is forfeited.
  • The charges applicable on the sweep-in facility are based on the type of account linked.
  • Sweep-in Facility provides flexibility to the customer to alter the period of deposit, maturity and payment instructions, principal amount and rollover period.
  • Earn higher interest on your money with Sweep-in facility as you can earn high interest rates with fixed deposit along with the liquidity of a Savings Account.

Eligibility
 

  • Resident Individuals
  • Hindu Undivided Families
  • Private and Public Limited companies
  • Societies, trust etc

Nomination through Netbanking

HDFC Bank offers the facility of nomination through internet banking. Existing account holders can add a nominee which was added in the existing Saving Account or can even choose a new nominee.

HDFC FD Calculator

Investors can check the maturity amount of the scheme by using the FD Calculator at Paisabazaar. Also, HDFC Fixed Deposit Rates differ for different tenures. So the investors can also decide a preferred tenure of investment by entering different rates and calculating their total earning. In case of reinvestment schemes, investors can check the interest and the maturity amount by using the compound interest calculator.


You can visit the nearest HDFC branch and contact the officials for HDFC Bank Fixed Deposit interest rates of schemes above Rs 1 Crore. You can check the IFSC of the branch at Paisabazaar.
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