HDFC Bank SureCover FD is an FD that offers all the features of a fixed deposit with the benefits of a life insurance cover. Not only does this offer assured returns on your deposit, but it also has an overdraft facility. Tenures are flexible ranging from one year to 10 years. Interest rates for fixed deposits below Rs.2 crore range from 4.90% p.a. to 5.50% p.a. Senior citizens are offered an additional 0.50% on the interest rate.
Some of the salient features of the HDFC Bank SureCover FD are as given below:
The eligibility criteria for opening an HDFC Bank SureCover FD are as follows:
The documentation required to open an HDFC Bank SureCover FD is as given below:
HDFC Bank customers: No documents required except for:
Non-HDFC Bank customers: The following documents are required:
The interest rates for HDFC Bank SureCover FD are as given below:
|Tenure||Interest Rate (p.a.) *|
|General Citizens||Senior Citizens|
|1 year 1 day to 2 years||4.90%||5.40%|
|2 years 1 day to 3 years||5.15%||5.65%|
|3 years 1 day to 5 years||5.30%||5.80%|
|5 years 1 day to 10 years||5.50%||6.25%|
*These interest rates are effective from 10 June 2021 and are liable to change as per the bank's policies
Yes, you can liquidate HDFC Bank SureCover FD either partially or fully. If the FD is prematurely closed before one year of the tenure is over, the insurance cover will no longer be active.
You can open an HDFC Bank SureCover FD by visiting the nearest branch of HDFC Bank.
Yes, individuals who are not customers of HDFC Bank can also open an HDFC Bank SureCover fixed deposit.
The premium for the insurance cover of the HDFC Bank SureCover FD does not have to be paid by the primary holder. However, after one year, the insurance cover can be continued if the premium is paid by the primary holder.
Yes, Tax Deducted at Source (TDS) is applicable on the HDFC Bank SureCover FD.
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