Whenever you make an investment, whether big or small it is advisable to know the institution you are entrusting is capable of providing you with equally better benefits and services. An Indian Banking and Financial Services Company, HDFC Bank (Housing Development Finance Corporation) is one such name you can trust upon. This private sector bank with its wide network is known for offering multiple financial services to all citizens of the country. When it comes to financial offerings, the bank has a plethora of products to choose from, and HDFC Fixed Deposit is one of them. That's right! In order to cater the saving needs of the customer, the bank offers best of FD schemes, wherein customers can get the assured maturity benefits on the invested amount. It offers Regular and 5 Year Tax Saving Fixed Deposits schemes to the customers. These schemes come to you with multiple benefits and features and are here to offer you flexibility, security and excellent returns. So, let's learn more about these FD schemes and plan the investment.
The customers can avail these FD schemes offered by HDFC at competitive interest rates, thus can enjoy unlimited benefits at the time of maturity. The FD rate of the bank ranges between 3.50%-6.95% per annum for domestic deposits on less than 1 crore. Whereas, if the deposited amount is more than 1 crore but less than 5 crores, the rates are 4.25%- 5.00% per annum. Apart from this, the bank also offers special rate to senior citizens that range between 4%-7.45% per annum for less than 1 crore and 4.75%-5.50% per annum for more than 1 crore but less than 5 crore deposits. However, these rates will vary according to the period of investment (lock-in period) and investor's category. It is up to you which lock-in period you want to choose, and that decides your interest earned on the deposited amount.
For your reference, below are the interest rates mentioned for different lock-in periods.
For Domestic/NRO and NRE Deposit Rates
|
Period |
<₹ 1 Crore |
>=₹1 Crore to < ₹5Crores |
||
|---|---|---|---|---|
|
Interest Rate (per annum) |
Interest Rates (per annum) |
Senior Citizen Rates (per annum) |
Interest Rates (per annum) |
Senior Citizen Rates (per annum) |
|
7 - 14 days |
3.50% |
4.00% |
4.25% |
4.75% |
|
15 - 29 days |
4.25% |
4.75% |
4.25% |
4.75% |
|
30 - 45 days |
5.50% |
6.00% |
4.25% |
4.75% |
|
46 - 60 days |
5.75% |
6.25% |
4.50% |
5.00% |
|
61 - 90 days |
5.75% |
6.25% |
4.50% |
5.00% |
|
91 days - 6 months |
5.75% |
6.25% |
4.50% |
5.00% |
|
6 months 1 day - 6 months 15 days |
6.00% |
6.50% |
4.75% |
5.25% |
|
6 months 16 days |
6.00% |
6.50% |
4.75% |
5.25% |
|
6 months 17 days - 9 months 15 days |
6.00% |
6.50% |
4.75% |
5.25% |
|
9 months 16 days |
6.25% |
6.75% |
5.00% |
5.50% |
|
9 months 17 days < 1 Year |
6.25% |
6.75% |
5.00% |
5.50% |
|
1 Year |
6.90% |
7.40% |
5.50% |
6.00% |
|
1 year 1 day - 1 year 3 days |
6.95% |
7.45% |
5.50% |
6.00% |
|
1 year 4 days |
6.25% |
6.75% |
5.50% |
6.00% |
|
1 year 5 days - 1 Year 15 Days |
6.25% |
6.75% |
5.50% |
6.00% |
|
1 Year 16 days |
6.25% |
6.75% |
5.50% |
6.00% |
|
1 year 17 days - 2 Years |
6.25% |
6.75% |
5.50% |
6.00% |
|
2 years 1day - 2 Years 15 days |
6.00% |
6.50% |
5.00% |
5.50% |
|
2 Years 16 days |
6.00% |
6.50% |
5.00% |
5.50% |
|
2 years 17 days - 3 Years |
6.00% |
6.50% |
5.00% |
5.50% |
|
3 years 1day - 5 years |
6.00% |
6.50% |
5.00% |
5.50% |
|
5 Years 1 Day - 8 Years |
6.00% |
6.50% |
5.00% |
5.50% |
|
8 Years 1 Day - 10 Years |
6.00% |
6.50% |
5.00% |
5.50% |
For Domestic/NRO and NRE Deposit Rates for Amounts Greater Than or Equal to 5 Crore (Withdrawable)
| Period | Interest Rate (per annum) for ₹5 <₹100 crores |
|---|---|
|
7 - 14 days |
4.25% |
|
15-29 days |
4.25% |
|
30-45 days |
4.25% |
|
46-60 days |
6.00% |
|
61-90 days |
6.00% |
|
91 days - 6 months |
6.25% |
|
6 months 1day - 9 months |
6.25% |
|
9 months 1 day <9 months 15 days |
6.25% |
|
9 months 16 days <1 year |
6.25% |
|
1 Year |
5.50% |
|
1 year 1 day - 2 years |
5.50% |
|
2 year 1 day - 3 years |
5.00% |
|
3 year 1 day - 5 years |
5.00% |
|
5 year 1 day - 10 years |
5.00% |
When it comes to Fixed deposit calculator, it is one such smart tool that allows you to know the returns earned on your deposited amount. This useful and time-saving device gives you the exact calculations of interest earned on your deposit. You just need to enter the principal amount, tenure and interest rate, that's it. The rest will be done by the calculator itself, thus helps you in knowing the returns over a period of time. In fact, it also allows you to compare returns on multiple deposited amounts for different lock-in period. You just need to select the best option that fits best into your needs.
Let's understand this thing with the help of an example below.
Suppose, Ashish Mishra wants to deposit ₹10 Lakh in HDFC bank for a period of 10 years. Thus, for the same, the bank is ready to pay him an interest of let's say 5.00% p.a. Now, how much money will he get at the maturity? It is easy to calculate the same with the help of the FD Calculator. His maturity value will come out to be ₹ 16.4 Lakh and he will earn the interest of ₹6.4 Lakh. For your reference below is a table showing the opening balance, interest earned and closing balance of the same deposited amount.
| Year | Opening Balance (in ₹) | Interest Earned (in ₹) | Closing Balance (in ₹) |
|---|---|---|---|
|
1 |
1000000 |
50945 |
1050945 |
|
2 |
1050945 |
53541 |
1104486 |
|
3 |
1104486 |
56268 |
1160754 |
|
4 |
1160754 |
59135 |
1219889 |
|
5 |
1219889 |
62148 |
1282037 |
|
6 |
1282037 |
65314 |
1347351 |
|
7 |
1347351 |
68641 |
1415992 |
|
8 |
1415992 |
72138 |
|
|
9 |
1488130 |
75813 |
|
|
10 |
1563943 |
79676 |
1643619 |
The bank offers 2 fixed deposit schemes to the customers, offering them various benefits on the deposited amount at the maturity. Below are the schemes offered by HDFC.
Regular Fixed Deposit
Under this plan, the customer can open the account with a minimum amount of ₹ 5,000 for the maximum tenure of 10 years and get multiple advantages. They can choose amongst the sweep in facility & super saver facility which allows easy management of funds. Moreover, the customer can add a nominee to the term plan who will receive the maturity amount in case the depositor is unavailable.
| Particulars | Description |
|---|---|
|
Minimum Deposit Amount |
₹5,000 |
|
Maximum Deposit Amount |
No Specific Limit |
|
Minimum Deposit Tenure |
7 Days to 10 Years |
|
Interest Payout |
As per customer's instruction |
|
TDS |
Applicable |
|
Premature Withdrawal |
Allowed at 1% penal rates |
|
Nomination Facility |
Available |
|
Sweep in Facility & Super Saver Facility |
Available (either of the two) |
If you want to avail a regular FD from HDFC, you also need to fit into the eligibility criteria to reap the maturity. So take a look below to know the individuals and groups eligible for the same.
Residents
Hindu Undivided Families
Sole Proprietorship Firms
Partnership Firms
Limited Companies
Trust Accounts
5 Year Tax Saving Fixed Deposit
The customer can save on taxes by investing a definite amount in this scheme. This amount is locked-in for the period of 5 years and cannot be withdrawn before it. The tax benefit under section 80 C will be provided only to the first holder in case of joint deposit. The depositor is entitled to receive interest at monthly or quarterly rest.
|
Particulars |
Description |
|---|---|
|
Minimum Deposit Amount |
₹100 and in multiples of ₹100 |
|
Maximum Deposit Amount |
₹150,000 in a Financial Year |
|
Minimum Deposit Tenure |
5 Years |
|
Interest Payout |
Monthly or Quarterly |
|
Lock in Period |
5 years |
|
TDS Tax Benefits |
Under section 80C of Income Tax Act |
|
Premature Withdrawal |
Not allowed |
|
Nomination Facility |
Available |
Below is the applicable TDS rates mentioned for your reference:
|
Tax Rate |
Surcharge |
Education Cess |
Total |
|
|---|---|---|---|---|
|
Resident Individuals & HUF |
10% |
10% |
Those who want to avail the same FD scheme can go for the same, if they meet the eligibility criteria set by the bank. To know the same, take a look below.
Resident Individuals can easily apply for the same
Hindu Undivided Families can also avail the same FD Scheme.
The candidate opening the term deposit account has to submit the following documents :
|
ID Proof |
Address Proof |
|---|---|
|
Passport |
Passport |
|
PAN Card |
Telephone Bill |
|
Driving Licence |
Electricity Bill |
|
Voter ID |
ID Card Issued by Post Office |
|
Government ID Card |
Bank Statement with Cheque |
|
Senior Citizen ID Card |
Any other ID proof or address proof document can be submitted subject to bank's satisfaction |
The fields you need to fill in the Fixed Deposit Form are:
Details of applicant/applicants with photograph
Details of nominee
Interest payout details
Maturity instructions
Choose among Sweep-in facility/ Super saver facility
HDFC FD schemes offer numerous benefits and features to the customer, so take a look at them below.
You can avail these schemes through Netbanking
The customer can Liquidate their Deposit
These schemes come to you with flexible lock-in period
Best Interest Rates for Senior Citizens
Various Interest Payout Options