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    HDFC Bank 5 Year Tax Saving Fixed Deposit Scheme

    HDFC Bank 5 Year Tax Saving Fixed Deposit Scheme  and 2 other FDs

    Institution Name
    Deposit Amount Range
    Tenure Range
    Interest Rate
    Up to ₹1Cr
    7 Days to 10 Years
    3.5% - 7.45% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    NRI - FD
    Up to ₹1Cr
    1 Year to 10 Years
    6% - 6.95% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    Up to ₹25L
    1 Year to 5 Years
    7.49% - 8.19% Monthly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    Up to ₹25L
    1 Year to 5 Years
    7.75% - 8.5% Monthly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know

    HDFC Bank 5 Year Tax Saving Fixed Deposit Scheme is Rated as "Excellent!" by 301 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Fixed Deposit BYTES FROM OUR KITCHEN

    This FD from HDFC bank is an investment-cum-tax-saving tool that promises excellent returns over its tenure. Deductions are available under Section 80C of the Income Tax Act, 1961, for amounts up to Rs.1,50,000 for investments in tax saver fixed deposit schemes.

    There is a 5-year lock-in on this FD. Every quarter, interest and re-investment interest is calculated and the Principal amount is increased with the interest earned in the previous quarter.

    TDS is deducted as and when applicable under the prevalent Taxation Regulations.

    Eligibility Criteria for applying for HDFC Bank 5 Year Tax Saving Fixed Deposit Scheme

    In order to be eligible for this scheme, one must either be:

    • Individual Residents.
    • Hindu Undivided Families.

    You will also have to submit an additional document in case the account is being opened for a Senior Citizen – a proof of age that confirms that the account holder is in fact a Senior Citizen.

    Features of HDFC Bank 5 Year Tax Saving Fixed Deposit Scheme

    Account Type Joint / Single.
    Amount

    Minimum: Rs.100, and in multiples of Rs.100 thereafter.

    Maximum: Rs.1,50,000 in a financial year.

    Rate of Interest

    For investments <Rs.1 crore:

    Interest rate p.a.: 7.65%.

    Interest rate p.a. for senior citizens: 8.15%.

    Period 5 year lock in.
    TDS

    TDS will be deducted when the interest re-invested or payable per customer is over Rs.10,000 in a financial year.

    At the end of every quarter, the bank will send a TDS certificate containing all the details related to TDS deductions.

    TDS rate is 10% for resident individuals and HUFs.

    HDFC Bank 5 Year Tax Saving Fixed Deposit Scheme Interest Rates

    Category Non-senior citizens Senior citizens
    Interest rate 7.65% p.a. 8.15% p.a.

    HDFC Bank 5 Year Tax Saving Fixed Deposit Scheme FAQs

    1. What are the documents required in order to open a DFC Bank 5 Year Tax Saving Fixed Deposit Scheme account for a senior citizen?
    2. In order to open this account for a senior citizen, you will need to furnish any of the following documents:

      • Secondary School Leaving Certificate.
      • Voter’s ID card.
      • Birth Certificate.
      • PAN Card.

      Basically any legally recognisable document that verifies the applicant’s age as a senior citizen.

    3. How will the proceeds be disbursed on maturity?
    4. All interest earned and total proceeds and benefits of the plan do not need to be physically collected from the bank, as they will be automatically and directly credited to the customer’s account.

    5. When does TDS start to become applicable on my FD account?
    6. Once the aggregate interest on your deposit grows larger than Rs.10,000 in a financial year, you will be subject to Tax Deduction at Source (TDS).

    7. If my interest on deposit is under Rs.10,000 in a financial year, how do I apply for TDS exemption?
    8. A form must be submitted to your HDFC Bank branch which intimates them that the interest income for the year has not exceeded Rs.10,000. It is worthwhile to note that:

      • 15H / 15AA Forms are only valid during the financial year in which they’re issued.
      • A 15G/H Form is a separate form that must be submitted during the first week of the financial year for any existing deposit.
      • The 15G/H Form must be submitted each time a subsequent deposit is booked in the relevant financial year.
      • The 15AA Form can be acquired from the Assessing Officer of the Income Tax Department.

    *All amounts, tenures, repayment requirements, interest rates, charges, fees, ceilings, requirements, criteria, exclusions, terms and conditions are as of December, 2015. HDFC reserves the right to modify, replace, or add to or subtract from any of the above, in any way, at any time, and at its own discretion.

    Useful Information on HDFC Fixed Deposit

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  • HDFC Bank 5 Year Tax Saving Fixed Deposit Scheme Reviews

    • HDFC Bank Fixed Deposit
      "Excellent to Excellent"
      0.5 5.0/5 "Blown Away!"
      I do have the fixed deposit account with the HDFC bank and the interest rate is differed according to the offers. All of my deposits will be taken care by my relationship manager. Total tenure is around five years of time and its a kind of small deposits. Net banking services are an excellent one with them.
      Was this review helpful? 2
      , bangalore
      Reviewed on Apr 26, 2017
    • HDFC Bank Fixed Deposit
      "My FD"
      0.5 5.0/5 "Blown Away!"
      I had invested in FD with HDFC. The benefits what I get here is huge. I never used to visit the branch . I had got a phone call from them immediately they had sent their representative for the same. He helped me in filling the form and I do have online access and I view all the FD information online itself
      Was this review helpful? 2
      , kolkata
      Reviewed on Apr 20, 2017
    • HDFC Bank Fixed Deposit
      "My FD"
      0.5 5.0/5 "Blown Away!"
      Only for a short span of time I had invested in HDFC FD say for example 10 days or 15 days, for safety purpose I invested here and later withdraw dont have to worry about my balance on my ATM. I do this deposit frequently yearly do I it up to 6 to 7 times. online I had opted for this FD
      Was this review helpful? 10
      , bangalore
      Reviewed on Feb 23, 2017
    • HDFC Bank Fixed Deposit
      "Fixed deposit is fine"
      0.5 4.0/5 "Great!"
      HDFC Fixed deposit is fine I had never interacted with their executive everything was done online. It hardly took around 5 minutes for me to open the FD. online I am ale to renew the FD and everything is online . Interest rate is the best 6.75% it varies according to the tenure online is recommendable manual payment option is not recommendable.
      Was this review helpful? 5
      , hyderabad
      Reviewed on Jan 06, 2017
    • HDFC Bank Fixed Deposit
      "Grow with hdfc"
      0.5 5.0/5 "Blown Away!"
      Normally, Rate of interest wont play much role for my fixed deposit account with HDFC bank. I can mention trust and loyalty are the major perspective there. There is no minimum lock in period with the HDFC bank for the fixed deposit, so accessibility is smoother one with them. Internet banking and other rendered services are really working fine.
      Was this review helpful? 2
      , gurgaon
      Reviewed on Dec 10, 2016
    • HDFC Bank Fixed Deposit
      "Good saivngs account for customer"
      0.5 5.0/5 "Blown Away!"
      With HDFC Bank we cannot earn good interest when ti comes to FD. Though their lending rates are very high. When it comes to FD the interest rate what they provide is too low. It hardly takes about 2 minutes to open this account. There is no preclosure charges which is applicable and it is very minor too.
      Was this review helpful? 3
      , shimla
      Reviewed on Nov 28, 2016
    • HDFC Bank Fixed Deposit
      "Marvelleous service"
      0.5 5.0/5 "Blown Away!"
      Even FD with HDFC Bank is marvelous. Online I had raised a request for the closure and the funds were transferred to my account immediately. Over and above they did not charge anything for the foreclosure . This FD is one year old I can close it any time after 6 months.
      Was this review helpful? 4
      , new delhi
      Reviewed on Nov 26, 2016
    • HDFC Bank Fixed Deposit
      "Easy FD"
      0.5 5.0/5 "Blown Away!"
      I got my bonus from my company and want to invest the same in Fixed Deposit. Thorough net banking it takes only a minute to open FD for me. It was just awesome saves my time. The online banking service of the hdfc bank is just mindd blowing and time saving. Thanks
      Was this review helpful? 6
      , thane
      Reviewed on Oct 03, 2016
    • HDFC Bank Fixed Deposit
      "Convenient process"
      0.5 5.0/5 "Blown Away!"
      HDFC Bank has given their customers the liberty to open a fixed deposit online and even to close it as per the customers convenience. The rate of interest was good. Likewise they are not high on charges. The best is, I do not have to visit the bank for anything.
      Was this review helpful? 10
      , salem
      Reviewed on Oct 01, 2016
    • HDFC Bank Fixed Deposit
      "Lower rate"
      0.5 5.0/5 "Blown Away!"
      As the returns were not that great also I found the interest rate was lower than other banks. I had actually shifted the amount which has got matured to another bank where I get an attractive rate of interest. No other facilitates were offered by HDFC Bank.
      Was this review helpful? 7
      , kolkata
      Reviewed on Aug 27, 2016
    • HDFC Bank Fixed Deposit
      "They really need to scale up "
      0.5 1.0/5 "Really Bad"
      I have invested in FD with HDFC Bank for a period of 5 years. The rate of interest offered was a very meagre 5%. I took the policy in 2005 and the policy has matured but there were some technical difficulties which I was facing and I have not been able to take this out. They had told me they were unable to reset the account with my customer id and password and its yet to be sorted out.
      Was this review helpful? 6
      , mumbai
      Reviewed on Jun 28, 2016
    • HDFC Bank Fixed Deposit
      "A good bank"
      0.5 3.0/5 "Satisfactory"
      I am long time customer of HDFC bank. Further, I hold a fixed deposit with them. The services are good. They are responsive. I could open an account online. It is convenient using this facility. Overall I have not faced hassles and overall it has been very much satisfactory.
      Was this review helpful? 2
      , bangalore
      Reviewed on Jun 27, 2016
    • HDFC Bank Fixed Deposit
      "Smooth process for long term benefit"
      0.5 5.0/5 "Blown Away!"
      I had recently invested certain amount in Fixed deposit plan with HDFC bank, before one year they provided 8.50% interest rate for the lock in period of three years. The process was very simple within few minutes the account was activated. After completing the tenure, on the same day the amount was credited to my account.
      Was this review helpful? 12
      , ahmedabad
      Reviewed on Jun 08, 2016
    • HDFC Bank Fixed Deposit
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      Intered earned on Fixed deposit is 8.5% with HDFC bank before two years for the lock in period of five years. After the completing the tenure the amount is credited to the account automatically. But for activation the plan we have to visit the bank and we get the response at the earliest. The minimum amount to start the plan is Rs.10,000.
      Was this review helpful? 6
      , jamnagar
      Reviewed on Jun 04, 2016
    • HDFC Bank Fixed Deposit
      "Rate of interest is good"
      0.5 5.0/5 "Blown Away!"
      In August 2015 I had booked a Fixed deposit with HDFC bank through their online portal as its very easy to start a deposit without any hassles. I make my payments online and I pay a premium of Rs.15k on a yearly basis. Their rate of interest currently is 8% and I think its very beneficial as a savings or investment.
      Was this review helpful? 2
      , gandhinagar
      Reviewed on Jun 03, 2016
    • HDFC Bank Fixed Deposit
      "Lock the money and reap the less benefits"
      0.5 4.0/5 "Great!"
      I do lot of transaction with HDFC bank and thats why I choose it to open a fixed deposit account with them and the minimum lock in period which is opt for is more than a year of time. Interest rate is not a big deal for me and I can say its a kind of okay. I can open the deposit through online banking services and the user interface is quite simple and understanding too.
      Was this review helpful? 5
      , bangalore
      Reviewed on Jun 02, 2016
    • HDFC Bank Fixed Deposit
      "Good savings option"
      0.5 5.0/5 "Blown Away!"
      I have been maintaining a fixed deposit scheme with HDFC bank since my salary account is with them. I had booked the deposit scheme through their online services for a period of 90 months. I pay around Rs.40k and I pay it online as its quite comfortable. However they have charges of 1% if the deposit is broken in between before the tenure is over. Its serves as a good savings option.
      Was this review helpful? 2
      , kolkata
      Reviewed on May 27, 2016
    • HDFC Bank Fixed Deposit
      "Customer focus bank"
      0.5 5.0/5 "Blown Away!"
      My fixed deposit account is with HDFC bank and the interest rate is a descent one with them and its very simple to go ahead for opening a fixed deposit like it used to take less than a minute. Minimum lock in period is up to the customer wish. Interest rate of HDFC fixed deposit for me is around 9.5%.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 27, 2016
    • HDFC Bank Fixed Deposit
      "Good"
      0.5 4.0/5 "Great!"
      HDFC bank is giving 7.50% interest rate for the normal citizen for the FD plan with the minimum lock in period of six month and for senior citizen they are providing 7.85%. The minimum amount to activate is Rs.5000.We can avail the facility thorough online within 2 minutes it got activated.
      Was this review helpful? 7
      , dhule
      Reviewed on May 21, 2016
    • HDFC Bank Fixed Deposit
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      My fixed deposit is with HDFC Bank. The services are good. When ever there is a query I get a response. It is not a hassle to open a fixed deposit account. I could do it online. The rate of interest is satisfactory. There are no charges as well. Overall good.
      Was this review helpful? 7
      , bangalore
      Reviewed on May 17, 2016
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