HDFC Bank offers a wide array of Fixed Deposit Schemes to fulfil the requirements of every individual for a short term or long tenure. The bank provides various types of deposit schemes like Regular Fixed Deposit Account, Tax-saving Fixed Deposit Account, etc. to help individuals save a proportionate amount monthly. Here’s a summarised list of HDFC FD interest rates:
HDFC Bank FD Rates 2019
|Tenure||HDFC FD Interest Rates|
|Regular Citizens||Senior Citizens|
|7 – 14 days||3.50%||4.00%|
|15 – 29 days||4.25%||4.75%|
|30 – 45 days||5.75%||6.25%|
|46 days – 6 months||6.25%||6.75%|
|6 months 1 day – 9 months||6.75%||7.25%|
|9 months 1 day – less than 1 year||7.10%||7.60%|
|1 year – 2 years||7.30%||7.80%|
|2 years 1 day – 3 years||7.40%||7.90%|
|3 years 1 day – 5 years||7.25%||7.75%|
|5 years 1 day – 10 years||6.50%||7.00%|
- Data as on 11th April 2019
- Interest rates for Non Resident External (NRE) and Non Resident Ordinary term deposits are same as those applicable on domestic term deposits.
- Interest rates for amounts <1 crore.
FCNR (Foreign Currency Non-Resident) Fixed Deposit Interest Rates
|1 year to less than 2 years||3.10||1.43||0.01||2.20||2.28||0.15|
|2 years to less than 3 years||3.21||1.69||0.17||2.41||2.50||0.20|
|3 years to less than 4 years||3.05||1.62||0.04||2.35||2.40||0.07|
|4 years to less than 5 years||3.12||1.78||0.12||2.54||2.55||0.01|
|5 years only||2.56||1.20||0.01||2.05||1.96||0.01|
Note – All figures in % per annum.
RFC (Resident Foreign Currency) Fixed Deposit Interest Rates
|< 29 days||0.01||0.01||0.01||0.01|
|30 days – 3 months||0.01||0.01||0.01||0.01|
|3 Months 1 day – 6 Months||0.01||0.01||0.01||0.01|
|6 Months 1 day – < 1 Year||0.01||0.01||0.01||0.01|
|1 year < 2 years||3.10||1.43||0.01||0.15|
|2 years < 3 years||3.21||1.69||0.17||0.20|
|3 years only||3.05||1.62||0.04||0.07|
Note – All figures in % per annum.
Features of HDFC Fixed Deposit
|Features of HDFC Fixed Deposit Account|
Additional Features of HDFC Fixed Deposit Account
Super Saver Facility
Super Saver Facility helps in accelerating the benefits of a 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.
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
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
Useful Article: All you need to know about Fixed Deposit Sweep in
HDFC Fixed Deposit Nomination through Netbanking
- HDFC Bank offers the facility of nomination through internet banking.
- Existing account holders can add a nominee who was added in the existing Saving Account
- The account holder can even choose a new nominee.
Types of HDFC Fixed Deposit Schemes
- HDFC Regular Fixed Deposit Scheme
- HDFC Tax Saving Fixed Deposit Scheme
- HDFC Recurring Deposit Scheme
- HDFC Dream Deposit Scheme
1. HDFC Regular Fixed Deposit Scheme
The Regular Fixed Deposit Account can be opened for both short term as well as the long term. The account can be opened for as low as ₹ 5,000 by filling up an online application form.
Eligibility Criteria to open the Regular FD Account
How to Open a Regular FD Account?
- Submit a copy of identity proof and address proof.
- Those who already have a savings account with HDFC Bank have to submit a copy of PAN and Bank Passbook only.
Documents Required for Opening a Regular FD Account
The following documents are accepted as valid proof of identity and address:
|Identity Proof||Address Proof|
One should note that PAN is mandatory to book Fixed Deposits if the total Fixed Deposit holding per customer ID per branch exceeds ₹ 50,000.
2. 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 of HDFC Tax Saving FD|
The following are eligible to open the account:
- Resident Individuals
Tax Deductions under the Reinvestment Scheme
- If the interest payable per year exceeds ₹ 10, 000, TDS will be deducted and the relevant TDS Certificate will be sent to the customer
- 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.
3. HDFC Recurring Deposit Scheme
A HDFC Recurring Deposit scheme is the one where smaller investments can be made monthly and the corresponding HDFC FD interest rates are similar to that of normal HDFC Fixed Deposit Schemes.
|Benefits of HDFC Recurring Deposit Scheme|
The following are eligible for opening a HDFC RD Account:
4. HDFC Dream Deposit
Since banks are lowering interest rates on savings accounts nowadays, it is more beneficial for users to invest in fixed deposits that have higher HDFC FD interest rates. Dream Deposit gives you the convenience of depositing money whenever it is available. All resident individuals are eligible to open Dream Deposit accounts.
Features of HDFC Bank Dream Deposit Account
|Benefits of Dream Deposit Scheme|
Following are some of the features of HDFC Bank Dream Deposit Account:
|Features of HDFC Bank Dream Deposit Account|
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
- Interest is paid only on maturity.
- The Dream Deposit will be due for repayment and will mature only post the completion of the given tenure
- The maturity amount of Dream Deposit is subject to the payment of installments on time.
- If delayed, the maturity amount of the Dream Deposit shall change
HDFC FD Calculator
Investors can check the maturity amount of the scheme by using the HDFC FD Interest Rates Calculator at Paisabazaar. Also, HDFC FD Interests 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.
Where to apply for HDFC Fixed Deposit Schemes?
News about HDFC Fixed Deposit
|HDFC Bank Increases Fixed Deposits Interest Rates by 60 Basis Points|
|7th August, 2018
HDFC Bank has hiked the fixed deposit interest rates by up to 60 basis points after RBI increased the repo rate by 0.25% to 6.50% last week. As per the latest rates, the bank is offering the highest interest rate of 7.25% on deposits of tenure ranging from 1 year to 2 years. The interest offered on deposits of 9 months 1 day to less than 1 year is at a rate of 7% whereas it is 7.1% for deposits ranging from 2 years 1 month to 5 years..Read more
|HDFC FD Interest Rates Revised|
|27th April, 2018
In a recent announcement, HDFC bank has revised the interest rates on its fixed deposits. For an amount less than Rs. 1 Crore taken for a period of 1 year, the interest rate has been changed from 6.75% to 6.85%. The interest rate has been hiked from 6% to 7% for deposits having tenure of 2 to 5 years. For 1 year 1 day – 1 year 3 days deposits, HDFC FD interest rates have been decreased by 25 basis points. The overall revision in interest rates has been up to 110 basis points.