HDFC FD Interest Rates

The latest / revised list of HDFC FD rates as per specific tenures with effect from April 2018, for Regular and Senior Citizens, is listed below:

*Above Interest rates are for domestic term deposits that are of less than Rs.1 crore.

Important points to note for customers

• All interest rates will be changed at regular intervals based on the discretion of the bank
• HDFC FDs can be opened online through net banking
• All the above rates mentioned are for deposits that are of Rs.1 crore or less

• All special rates offered will only apply to domestic term deposits
• In case of any type of premature withdrawal on fixed deposits with HDFC Bank, the rate paid will be 1.00% less that the rate of interest applicable or only for the time frame of the deposit, whichever is lesser
• TDS will be deducted as per the prevailing tax norms every financial year
• If interest rates are revised, those already holding term deposits will have to continue in the same rate, and new rates will be applicable only on fresh deposits
• The interest paid will be computed each quarter for a tenure of 6 months or less
• For those FDs that are kept in the bank for less than 6 months the interest will be calculated through simple interest
• Every quarter, cumulative interest and reinvestment interest will be computed
• For all monthly payout schemes, the interest is calculated on a quarterly basis but paid monthly
• HDFC bank will calculate the interest earned on a particular deposit based on the actual number of days the deposit is held in the bank

HDFC FD rates - Rs.1 Crore to less than Rs.5 Crore (with withdrawal)

HDFC FD rates - Rs.5 Crore and Above (with withdrawal)

HDFC FD rates - Rs.5 Crore and Above (Without withdrawal)

HDFC Bank FD Rates

HDFC Bank offers a wide range fixed deposit (FD) options with competitive interest rates and flexible tenure options. Customers can easily book a HDFC FD online at the click of a button. The bank also provides higher interest rates on FDs for senior citizens and they also offer sweep-in facility on their deposits. They offer short-term, medium-term and long-term deposits. The term deposit options offered by HDFC Bank are Regular Fixed Deposits, 5-Year Tax Saving Fixed Deposits, Super Saver FD, Sweep-in Facility FD, etc. Apart from other benefits and features, the bank also provides nomination facility for FDs and customers can choose a nominee online without any hassle.

The highest rate of interest offered by HDFC Bank at present is 7.00% p.a. for a tenure that ranges between 1 year 17 days to 5 years. The highest rate of interest offered to senior citizens is 7.50% p.a. and the tenure range is 1 year 17 days to 5 years. The bank provides various interest payout options and one can go for cumulative or non-cumulative deposits. Non-cumulative FDs pay depositors at regular intervals, be it quarterly, monthly or half-yearly, depending on what the customer prefers.

HDFC Bank Short Term Fixed Deposits

• There is a lot of variety to choose from as far as short-term FDs are concerned in HDFC, for which, the rate of interest ranges from 3.50% p.a. to 6.40% p.a.
• The tenure range is from a minimum of 7 days to a maximum of 364 days.
• One can choose to invest from 7 days to 14 days, 15 days to 29 days, 30 days to 45 days, 46 days to 60 days, 61 days to 90 days, for which the rate of interest is 3.50% p.a., 4.25% p.a., 5.75% p.a., and 6.25% p.a. respectively.
• The highest rate of interest paid is 6.40% p.a., for an investment period of 6 months 5 days to less than 1 year.
• The second highest rate of interest rate paid is 6.35% p.a. for a tenure that ranges from 6 months 1 day to 6 months 4 days.

HDFC Bank Medium-Term Fixed Deposits

• Medium term fixed deposits pay the highest rate of interest in HDFC bank and are an ideal option to meet financial goals such as buying a car, taking a vacation or paying school fees or children.
• The highest FD rate paid in this slot is 7.00% p.a. for an investment tenure that ranges anywhere from 1 year 17 days to 5 years.

HDFC Bank Long-Term Fixed Deposits

• Those who invest in long-term deposits will be paid interest at the rate of 6.00% p.a.
• The interest rate is constant among all tenures that are offered in this type of FD scheme.
• Depositors can invest in a te ure that ranges from 5 years 1 day to 10 years.
• The break up options as far as tenure is concerned is 5 years 1 day to 8 years, and 8 years 1 day to 10 years.

HDFC Bank Senior Citizen FD Rates

• All senior’s investing in HDFC fixed deposits will get an additional interest rate of 0.50% per annum.
• The interest rate offered ranges from 4.00% p.a to 7.50% p.a.
• The highest rate of interest paid is 7.50% p.a. for a tenure that ranges from  1 year 17 days to 5 years.
• The second best interest rate paid is 7.35% p.a. for a tenure of 1 year.
• Pensioners can fetch an interest rate of up to 7.15% p.a for investing less than Rs.1 crore for a period that ranges from 1 year 17 days to 5 years.

Types of FDs offered by HDFC Bank

• Regular Fixed Deposit
• Sweep-in Fixed Deposit
• Overdraft FD or Super Saver FD
• 5 Year tax saver FD

Regular Fixed Deposits: Regular fixed deposits are easy investment options that come in flexible tenure ranges. The interest rates offered on these types of deposits are competitive and senior citizens are eligible for a higher rate of interest. Customers can book these deposits online. For interest rates, refer to the table above.

Sweep-in Fixed Deposits: This is a type of FD where if in case there is a need for money, the same will be transferred from the FD to the savings or current account of the customer. The main advantage of this type of FD is that the customer can continue to earn a higher rate of interest on money until it is swept in. On the other hand, interest will still be paid on the remaining amount after the money has been swept in. This type of term deposit can be opened online at the click of a button and it is possible to link multiple deposit accounts to one savings account without any hassle.

Overdraft FD or Super Saver FD: This is a type of term deposit investment that gives the investor the opportunity to avail a loan or an overdraft facility at any point of time to meet personal financial needs. The overdraft option will be made available to the customer through the savings or current bank account. The customer is eligible to take up to 90% of the deposit amount as a loan. Interest will be charged only on the amount that is taken on loan and the remaining amount will continue to earn interest.

5-year Tax Saving Fixed Deposit: This is a type of FD that gives investors tax benefit under Section 80C of the Income Tax Act. The minimum amount that can be invested in this type of term deposit is Rs.100 while the maximum is Rs.1.5 lakhs. This, however, comes with a lock-in period of 5 years and hence there is no option of premature withdrawal. The are different payout options available are monthly and quarterly for 5-Year Tax Saving Fixed Deposits.

How to Calculate FD Interest Rate in HDFC Bank

One among the leading banks in India, HDFC has a nationwide network and offers customers an extensive range of choices when it comes to FDs. The rate of interest on term deposits ranges anywhere from 3.5% to 6.75% for all individuals and 4% to 7.25% for senior citizens. This rate is applicable for all investments less than Rs.1 crore. The interest rate offered by the bank depends on various factors and are also subject to change at regular intervals. Calculating the maturity amount is a simple process and can be done online with the help of the HDFC fixed deposit rate calculator.

The total amount earned at the time of maturity, including total interest earned, can be computed by entering certain details such as principal amount invested, tenure and interest rate. Let us understand more about this by taking a look at the factors that affect the total maturity value of your fixed deposit.

Factors influencing the maturity amount:

• The principal amount invested
• Interest rate offered
• Term of deposit
• The compounding interest frequency
• Tax deduction

HDFC FD Calculator

In this section, we will better understand how the maturity amount on an HDFC FD is calculated. Let’s say, you make a principal investment of Rs.1 lakh at an interest rate of 7.25% for 1 year, the total amount payable including interest at the time of maturity will add up to around Rs. 1,07,250. This will be the case if the interest is calculated on a year-on-year basis. The total interest earned on the investment will be Rs.7,250. The interest earned will vary if the interest is computed on a quarterly or monthly basis.

The maturity amount is calculated by multiplying the rate of interest with the principal invested. The time period of the investment is also taken into consideration. This computation method will give you the total earnings on the investment in terms of interest earned and the maturity amount.

HDFC Bank pays interest on a regular basis on all non-cumulative deposits. When it comes to cumulative deposits, the interest is paid along with the interest earned at the time of maturity. Interest will be paid on a monthly, quarterly or half-yearly basis on all non-cumulative deposits depending on the type of scheme purchased and the mode of interest payment preferred by the customer.

* Interest rates may vary and can be changed, depending on the discretion of the bank. All interest rates will differ for senior citizens.

Know More About HDFC Fixed Deposit

Avail loans

Customers can easily meet their financial obligations at the time of a financial crisis by taking a loan against a HDFC Fixed Deposit (FD). The loan and overdraft facility will be available to all HDFC bank customers. Those eligible for the service can hold domestic, FCNR, NRE and NRO FD accounts with the bank. Another facility provided by the bank is the option to make premature withdrawals at any point in time.

A customer can take a loan for up to 90% of the total term deposit amount. This is one of the privileges that HDFC bank customers will be able to enjoy. Another benefit that HDFC Bank provides is online facility. All loans can be applied for online at the click of a button and will also be processed at a much faster pace.

HDFC NRI FD interest rates

Customers can avail competitive interest rates on all Non-Resident Indian (NRI) Fixed Deposit (FD) accounts such as NRE, NRO, and FCNR FDs. These offers are especially targeting and designed for NRIs, who would want to park their money in India and earn a certain percentage of interest in the home country.

These type of deposits come with various advantageous features and a wide range of benefits such as high-interest rates, overdraft facility of up to 90%, full repatriability and tax benefits. The interest rates offered on HDFC NRO and NRE fixed deposits range from 6% to 6.9%. The bank also offers attractive rates of interest on FCNR term deposits that can be held in various denominations such as Japanese Yen, US Dollars, Euro, Pounds Sterling, Canadian Dollars and Australian Dollars.

Multiple FDs

There are many benefits of maintaining multiple Fixed Deposits (FDs) and many investors are taking this path, instead of putting all their money in one deposit.

One of the main advantages of maintaining various FD accounts is the tax advantage it offers. It is possible to avoid Tax Deducted at Source (TDS) if an investor splits his/her term deposit across multiple banks. Also, if you have multiple FDs it will help at the time of an emergency. This also helps the investor maintain and manage interest income and ladder up deposits that do not offer good rates of interest.

Know how to Link Your KYC Dcuments to HDFC Bank Account