About HDFC Bank
HDFC Bank is one of the top banks in the private sector, and its headquarters is located in Mumbai, Maharashtra, in the 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 cards, 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 deposits 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% |
| 2 Years 1 day to < 2 Years 11 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 11 Months 1 day <= 3 Years | 7.00% | 7.50% |
| 2 Years 11 Months – 35 Months | 7.15% | 7.65% |
| 4 Year 7 Months 1 day <= 5 Years | 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 Bank Fixed Deposit
HDFC Bank fixed deposit features in 2024. Check out the features in the table below
| Lucrative FD Interest Rates | HDFC Bank fixed deposit offers higher interest rates than a savings account |
| Senior Citizen Perks | HDFC Bank fixed deposit provides senior citizens with special benefits like higher interest rates than the general public and tax benefits |
| Interest Payout Frequency | A loan against an HDFC fixed deposit is available |
| Flexible Tenure Options | HDFC FD offers a flexible tenure that 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 an HDFC fixed deposit is 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 an 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 deposit 3. You can hold up to 6 global currency |
| Overdraft Against Fixed Deposits | 1. Earn interest in INR on foreign currency & protection from fluctuations 2. Tax benefit on the entire deposit 3. You can hold up to 6 global currencies |
| 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 Bank FD?
If you wish to invest in the HDFC fixed deposit scheme, you can invest via internet banking, mobile, or 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 the 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 the FD details
Open an HDFC Bank Fixed Deposit account at the Branch
Search for 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 Bank 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 HDFC Bank 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. Individuals & Senior citizens who are exempted from income tax must submit Form 15G to avoid TDS deduction.
FAQs
Is a 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 the FD to avail of a loan.
Is Premature Closure Allowed in HDFC Bank Fixed Deposit?
Yes, HDFC Bank allows Premature closure of fixed deposits, but the premature charges will be applicable as per the standard policy.
Can I get a monthly interest on an 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.