- Want to open a fixed deposit at HDFC Bank but don’t know the interest rates it offers on the same?
- Read this post that tells you the same
You can book your fixed deposit at HDFC Bank to earn interest on the same. HDFC FD rates come with an attractive interest rate and thus help you build a good surplus over time. And an FD provides a fixed interest to your invested amount which keeps growing until it reaches the maturity date. To open an FD you can choose the tenure by yourself as per your need as it can be small as of 7 days to longer up to 10 years. Read the post and know about the HDFC bank FD rates on your deposits.
Interest Rate on HDFC Fixed Deposits
|FD Maturity||Interest Rate for Regular Depositors (INR < 2 Crore)||Interest Rate for Senior Citizen (INR < 2 Crore)|
|7 to 14 days||3.00%||3.50%|
|15 to 29 days||3.50%||4.00%|
|30 to 45 days||4.00%||4.50%|
|46 to 60 days||4.50%||5.00%|
|61 to 90 days||4.50%||5.00%|
|91 days to 6 months||4.50%||5.00%|
|6 months 1 day to 9 months||5.00%||5.50%|
|9 months 1 day to less than 12 months||5.25%||5.75%|
|1 year 1 day to 2 year||5.60%||6.10%|
|2 year 1 day to 3 years||5.75%||6.25%|
|3 year 1 day to 5 years||5.75%||6.25%|
|5 year 1 day to 10 years||5.75%||6.50%|
Types of HDFC FD
Regular Fixed Deposit
Under this scheme, you can save money by depositing into an FD account and earn guaranteed interest on it over a certain period of time. The nomination facility is available for the customers which they can use via the HDFC net banking. Resident Indians, HUFs, organizations, sole proprietorship firms, limited companies, and trusts can open an FD at HDFC Bank. And can borrow a loan up to 90% of your FD using the loan facility that is available on your deposit.
Sweep-in and Sweep-Out Facility
Using the Sweep in and a super saver facility of HDFC FD, you can get funds in your current or savings account linked with your FD. So, when the balance of the account exceeds a certain level, a certain portion converts into fixed deposits. When the balance of the account comes down the minimum balance required, the fixed deposit is broken automatically and the amount comes on the account, ensuring a greater degree of flexibility.
HDFC Foreign Currency Non- Resident (FCNR) Fixed Deposit
Customers can open an FD with HDFC bank and deposit funds in USD, GBP, EUR, JPY, AUD CAD currency. You can claim the full amount of your deposit and interest at the end of tenure and claim tax benefit on it. And the tenure of deposit should be 1 to 5 years. Under the super saver facility, you can also get an overdraft facility on your NRO savings and current account linked to the FD.
Five Years Tax Saving Fixed Deposit
HDFC also offers a 5-year tax-saver fixed deposit where you can get tax deductions upto INR 1.5 lakh in a financial year. It comes with a lock-in period of 5 years. You can deposit a minimum of INR 100 or its multiples or a maximum up to INR 1.5 lakh in a financial year.
And the depositor can get the interest payout in monthly or quarterly based on their selection. If you open a joint FD account then only one of the depositors can claim the tax benefit of Section 80C.
HDFC Fixed Deposit Special Offer
The bank provides a senior citizen care FD scheme under which they’ll get an additional 0.75% interest over their deposit amount if they reinvest or book a new FD from 18th May’20 to 30th Sept’20. It is for senior citizens whose age is 60 years and above. HDFC Bank provides a 0.25% premium over the deposit if you book an FD for 5 years 1 day to 10 years.
But, if you do a premature closure of a fixed deposit before 5 years then the rate will be 1% below the contracted rate of interest during the FD booking. If you do a premature closure after 5 years, the eventual proceeds can come with a reduced earning rate by 1.25%. This scheme is for Indian residents only and NRI can’t opt for it.
So make sure you keep all these conditions in mind while opening an FD account.