HDFC Bank FD Interest Rates

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 on1994Head QuarterMumbai
CEOSashidhar JagdishanCRISIL RatingsNA
ICRA RatingsNAFD Interest General3% to 7.40% p.a.

HDFC Bank FD Rates 2024 (Less Than ₹3 Cr) – Effective 12th June, 2024

Maturity PeriodInterest Rates (per cent per annum)
General PublicSenior Citizen
7 – 14 days3.00%3.50%
15 – 29 days3.00%3.50%
30 – 45 days3.50%4.00%
46 – 60 days4.50%5.00%
61 – 89 days4.50%5.00%
90 days < = 6 months4.50%5.00%
6 months 1 day < = 9 months5.75%6.25%
9 months 1 day to < 1 year6.00%6.50%
1 year to < 15 months6.60%7.10%
15 months to < 18 months7.10%7.60%
18 months to < 21 months7.25%7.75%
21 months – 2 years7.00%7.50%
2 Years 1 day to < 2 Year 11 Months7.00%7.50%
2 Years 11 Months – 35 Months7.15%7.65%
2 Years 11 Months 1 day < = 3 Year7.00%7.50%
3 Years 1 day to < 4 Years 7 Months7.00%7.50%
4 Year 7 Months – 55 months7.20%7.70%
4 Year 7 Months 1 day < = 5 Years7.00%7.50%
5 Years 1 day – 10 Years7.00%7.50%

Features and Benefits of HDFC Bank Fixed Deposit

HDFC Bank fixed deposit features in 2024. Check out the features in the below table

Lucrative FD Interest RatesHDFC Bank fixed deposit offers higher interest rates than a savings bank account
Senior Citizen PerksHDFC Bank fixed deposit provides senior citizens special benefits like higher interest rates than the general public and tax benefits
Interest Payout FrequencyHDFC Bank fixed deposit offers flexible  interest rate payouts monthly, quarterly, annual and cumulative interest payouts 
Flexible Tenure OptionsHDFC FD offer flexible tenure you can choose as per your requirement
Nomination FacilityYou can avail of the nomination facility on HDFC fixed deposits
Autorenewal FacilityYou can select auto-renewal for your fixed deposit
Loan Against FDLoan against HDFC fixed deposit available

Types of HDFC Bank FD Schemes

Regular Fixed Deposits1. Earn a higher fixed deposit than a savings account
2. Compound interest on HDFC Bank fixed deposit
3. Overdraft facility available
Direct Deposit FD1. 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 FD1. 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 Deposit1. 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 Deposits1. 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 Deposits1. Facility to avail overdraft again fixed deposits up to 90%
2. You can link your savings & current account to FD
Non-withdrawable Deposits1. 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 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 Bank 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 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. Individual & Senior citizens who are exempted from income tax must submit form 15G to avoid TDS deduction.


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.