About HDFC Bank
HDFC Bank is one of the top banks in the private sector and its headquarters is located in Mumbai, Maharashtra of Indian state. The bank started in 1994 and began operations in 1995. HDFC Bank has 8,778 branches & 21,132 ATMs / Cash Recycler Machines nationwide (across 3,836 cities/towns)
HDFC Bank offers plenty of financial & banking services including retail banking, loan services and credit card, etc. HDFC Bank offers different types of fixed deposits to its customers with attractive and competitive interest rates.
If you wish to invest in the HDFC Bank’s fixed deposit scheme you can choose from different fixed according to your choice and earn interest on your deposits as per the bank’s norms.
| Started on | 1994 | Head Quarter | Mumbai |
| CEO | Sashidhar Jagdishan | CRISIL Ratings | NA |
| ICRA Ratings | NA | FD Interest General | 3% to 7.40% p.a. |
HDFC Bank FD Rates 2024 (Less Than ₹3 Cr) – Effective 12th June, 2024
| Maturity Period | Interest Rates (per cent per annum) | |
| General Public | Senior Citizen | |
| 7 – 14 days | 3.00% | 3.50% |
| 15 – 29 days | 3.00% | 3.50% |
| 30 – 45 days | 3.50% | 4.00% |
| 46 – 60 days | 4.50% | 5.00% |
| 61 – 89 days | 4.50% | 5.00% |
| 90 days < = 6 months | 4.50% | 5.00% |
| 6 months 1 day < = 9 months | 5.75% | 6.25% |
| 9 months 1 day to < 1 year | 6.00% | 6.50% |
| 1 year to < 15 months | 6.60% | 7.10% |
| 15 months to < 18 months | 7.10% | 7.60% |
| 18 months to < 21 months | 7.25% | 7.75% |
| 21 months – 2 years | 7.00% | 7.50% |
| 2 Years 1 day to < 2 Year 11 Months | 7.00% | 7.50% |
| 2 Years 11 Months – 35 Months | 7.15% | 7.65% |
| 2 Years 11 Months 1 day < = 3 Year | 7.00% | 7.50% |
| 3 Years 1 day to < 4 Years 7 Months | 7.00% | 7.50% |
| 4 Year 7 Months – 55 months | 7.20% | 7.70% |
| 4 Year 7 Months 1 day < = 5 Years | 7.00% | 7.50% |
| 5 Years 1 day – 10 Years | 7.00% | 7.50% |
Features and Benefits of HDFC Fixed Deposit
HDFC Bank fixed deposit features in 2024. Check out the features in the below table
| Lucrative FD Interest Rates | HDFC Bank fixed deposit offers higher interest rates than a savings bank account |
| Senior Citizen Perks | HDFC Bank fixed deposit provides senior citizens special benefits like higher interest rates than the general public and tax benefits |
| Interest Payout Frequency | HDFC Bank fixed deposit offers flexible interest rate payouts monthly, quarterly, annual and cumulative interest payouts |
| Flexible Tenure Options | HDFC FD offer flexible tenure you can choose as per your requirement |
| Nomination Facility | You can avail of the nomination facility on HDFC fixed deposits |
| Autorenewal Facility | You can select auto-renewal for your fixed deposit |
| Loan Against FD | Loan against HDFC fixed deposit available |
Types of HDFC Bank FD Schemes
| Regular Fixed Deposits | 1. Earn a higher fixed deposit than a savings account 2. Compound interest on HDFC Bank fixed deposit 3. Overdraft facility available |
| Direct Deposit FD | 1. Invest in HDFC Bank fixed deposit without an HDFC savings account 2. Attractive interest rates and assured returns 3. Fully digital process, no paperwork is required |
| HDFC Bank HealthCover FD | 1. A fixed deposit by HDFC Bank where you can earn assured income and safeguard your health 2. Minimum FD amount ₹5 Lakh and Maximum amount ₹2.99 Cr 3. Tenure 1 year to 10 years 4. The interest rate is the same as regular fixed deposits |
| Five Year Tax Saving Fixed Deposit | 1. You can earn interest and save tax at the same time 2. Total investment in a financial year up to ₹1.5 Lakh 3. Interest payouts, monthly, quarterly |
| FCNR Deposits | 1. Earn interest in INR on foreign currency & protection from fluctuations 2. Tax benefit on the entire deposits 3. You can hold up to 6 six global currency |
| Overdraft Against Fixed Deposits | 1. Facility to avail overdraft again fixed deposits up to 90% 2. You can link your savings & current account to FD |
| Non-withdrawable Deposits | 1. As the name suggests no premature or partial withdrawal is allowed 2. Fixed deposit interest payouts, monthly & quarterly3. Tenure 1 year to 10 years |
How to Invest in HDFC FD?
If you wish to invest in the HDFC fixed deposit scheme, you can invest via internet banking, mobile and through the Bank branch.
Internet Banking/Mobile Banking
Step 1: Log in to HDFC internet or mobile banking
Step 2: Choose a Fixed deposit scheme
Step 3: Fill out the required information and submit it to Bank
Step 4: Once, you get confirmation your fixed deposit will be created instantly
Step 5: After the successful creation of a fixed deposit with HDFC Bank you will get an email from the Bank with FD details
Open an HDFC Fixed Deposit account at the Branch
Search the nearest HDFC Bank branch and visit the branch, fill out the fixed deposit opening form completely and submit it to the bank. Once the bank confirms your Fixed deposit created with the Bank, you will get a fixed deposit receipt.
Eligibility to Open an HDFC FD Account
Below are the individuals and groups eligible for an HDFC Fixed Deposit scheme
| #1. Residents #2. Hindu undivided families #3. Sole proprietorship firms #4. Partnership firms #5. Limited companies #6. Trust accounts |
Documents Required to Open State Bank of India FD
Tax on HDFC Bank Fixed Deposit
Interest earned from HDFC Bank fixed deposit will be considered income from other sources per the Income Tax Act. The interest you earn on your fixed deposit will be added to your total income and the tax will be deducted as per your tax slab.
Also, TDS will be deducted from the income from fixed deposit interest. If total interest income exceeds ₹40,000 then TDS will be deducted and ₹50,000 for senior citizens. Individual & Senior citizens who are exempted from income tax must submit form 15G to avoid TDS deduction.
FAQs
Is Loan against HDFC Bank Fixed Deposits Available?
Yes, you can get a quick loan against your fixed deposit and a lower interest rate on a loan. Here it would help if you broke FD to avail of a loan.
Is Premature Closure Allowed in HDFC Bank Fixed Deposit?
Yes, HDFC Bank allows Premature closer of fixed deposits but the premature charges will be applicable as per the standard policy.
Can I get monthly interest on FD?
Yes, HDFC Bank offers flexible interest payouts on fixed deposits so you can choose the interest payouts monthly, quarterly, yearly, etc.
Can I book an FD at HDFC Bank via NetBanking?
Yes, HDFC Bank offers a facility to create fixed deposits using Internet banking. Users who have transaction rights can log in to HDFC Bank net banking and choose to invest in fixed deposits.