HDFC Bank Health Cover FD
HDFC Bank Health Cover FD provides both the advantages of a Fixed Deposit and the security of a Health Insurance policy. Additionally, you will get hospital cash coverage for the first year if you book HDFC Bank Health Cover FD. The interest rates are the same as HDFC FD interest rates.
Benefits and Features of the HDFC Bank Health Cover FD
HDFC Bank HealthCover fixed deposit has the following benefits:
- Take advantage of an instant overdraft of up to 90% of the amount of your fixed deposit.
- You can increase income with compound interest on reinvestment deposits
- You can choose from monthly or quarterly interest payouts.
- Rs.500 per day for 15 days as hospital cash coverage on an FD with a balance of Rs.5 lakhs to Rs.10 lakhs
- For FD amount less than or equal to Rs.10 lakhs to Rs.1.99 crore you will get a Hospital Cash Cover of Rs.1000 per day for 15 days
Eligibility Criteria for the HDFC Bank Health Cover FD
Listed below are the eligibility criteria you need for applying for the HDFC Bank HealthCover fixed deposit:
- If you fall within the age bracket of 18 years to 59 years, you may apply for an HDFC Bank HealthCover FD.
- The FD must be for a term of 1 to 10 years.
- You must deposit a minimum of Rs. 5 lacs and a maximum of Rs. 1.99 crore
Interest Rates for the HDFC Bank Health Cover FD
The interest rates for the HDFC Bank HealthCover FD are the same as the fixed deposit rates. These interest rates are applicable for deposits below 2 crores. The interest rates are given below:
Tenure | Interest Rates for General Public (p.a.) | Interest Rates for Senior Citizen (p.a.) |
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 days <= 9 mnths | 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 | 7.35% | 7.85% |
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 | 7.40% | 7.90% |
4 Year 7 Months 1 day <=5 Years | 7.00% | 7.50% |
5 Years 1 day to 10 Years | 7.00% | 7.75%* |
Note: New rates are effective from 24 July 2025 and can change from time to time.
How to Book the HDFC Bank Health Cover FD Online?
Follow the instructions given below to book HDFC Bank HealthCover FDusing NET Banking:
Step 1: Visit the official website of HDFC Bank.
Step 2: Log in via NET Banking. You can register for NET Banking instantly by providing your debit card details. Make sure to use your registered mobile number.
Step 3: Once you log in, click on ‘Accounts’. Select ‘Transact’ as an option.
Step 4: Now, you will be provided with various options. Choose the option ‘Fixed Deposit’.
Step 5: Next, select below Rs.2 crore as your option.
Step 6: You will now get a drop-down menu. Select ‘HealthCover FD’ as your option.
Step 7: Enter the relevant details such as the amount you want to deposit and the tenure you want. Make sure you fill in the details correctly. You can also check the maturity amount and current interest rates on your deposit.
Step 8: You will get a confirmation via SMS or email to your registered phone number or email address.
FAQs on HDFC Bank HealthCover FD
- What are the eligibility criteria for HDFC Bank HealthCover FD?
Customers must be in good health and between the ages of 18 and 59 when investing in the HealthCover FD. Fixed Deposits must be at least Rs.5 lakh and a maximum of Rs.1.99 crore. They have a minimum tenure of one year.
- What is the minimum tenure of HDFC Bank HealthCover FD that can be booked?
HDFC Bank HealthCover FD can be booked for a minimum tenure of 12 months or 1 year.
- How do I submit an HDFC Bank HealthCover FD application online?
It is possible to apply for HDFC Bank HealthCover FD online using NetBanking.
- Do I have to pay a first-year premium for HDFC Bank HealthCover FD?
No, you don't need to pay for the first year's premium HDFC Bank HealthCover FD.
- How long is the validity of HDFC Bank HealthCover FD health insurance?
The validity of the HDFC Bank HealthCover FD health insurance is one year.
- Is there an option to choose a quarterly or monthly interest payment schedule for my HDFC Bank HealthCover FD?
Yes, HDFC Bank HealthCover FD offers the option of monthly or quarterly interest payout. However, the rate for monthly payouts will be less than the rate for standard deposits.
- Can I fully or partially liquidate a HealthCover FD before maturity?
Yes. However, the health insurance coverage will be immediately terminated if the fixed deposit is fully or partially liquidated, that is, by more than 50% of its original principal value, within a year.
- What is the maximum tenure of HDFC Bank HealthCover FD that can be booked?
HDFC Bank HealthCover FD can be booked for a maximum tenure of 120 months or 10 years.
- What is a HealthCover FD from HDFC Bank?
HDFC Bank HealthCover FD is a special investment product with the advantages of a fixed deposit and the security of health insurance. For amounts between Rs.5 lakhs and Rs.10 lakhs, a group hospital cash cover of Rs.500 per day for 15 days will be provided and for amounts between Rs.10 lakhs and Rs.1.99 crore, a group hospital cash cover of Rs.1000 per day for 15 days will be provided.
- Will HDFC Bank HealthCover FD be subject to TDS?
Yes, you have to pay TDS on your HDFC Bank HealthCover FD. If the interest earned on the fixed deposit exceeds Rs.40,000 TDS at a rate of 10% is deducted from your account.
- What rate of interest is going to be charged on the HDFC Bank HealthCover FD?
Interest rates for HDFC Bank HealthCover FDs are the same as those for Regular FDs.
- Can senior citizens apply for HDFC HealthCover FD?
No, residents above the age of 59 are not eligible to apply for HDFC HealthCover FD. So, senior citizens who fall under the age group 60 and above cant apply for this investment.
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