With HDFC Fixed Deposit, you can invest your money for a tenure anywhere between 7 days to 10 years and earn interest over the deposited amount. You can earn FD interest rate of 7.30% p.a. for a mandate of 1 to 2 years. Senior citizens enjoy an additional rate of interest of 0.50% p.a.
HDFC Bank Domestic/NRO/NRE Term Deposits Interest Rates 2020
| Period | Interest Rate for Deposits Below Rs.2 crore | Interest Rate for Deposits Above Rs.2 crore to less than Rs.5 crore | ||
|---|---|---|---|---|
| General Public | Senior Citizens | General Public | Senior Citizens | |
| 7 days to 14 days | 3.00% | 3.50% | 3.00% | 3.50% |
| 15 days to 29 days | 3.50% | 4.00% | 3.00% | 3.50% |
| 30 days to 45 days | 4.00% | 4.50% | 3.50% | 4.00% |
| 46 days to 60 days | 4.50% | 5.00% | 3.75% | 4.25% |
| 61 days to 90 days | 4.50% | 5.00% | 3.75% | 4.25% |
| 91 days to 6 months | 4.50% | 5.00% | 4.25% | 4.75% |
| 6 months 1 day to 9 months | 5.00% | 5.50% | 4.75% | 5.25% |
| 9 months 1 day to less than 1 year | 5.25% | 5.75% | 4.75% | 5.25% |
| 1 year | 5.60% | 6.10% | 5.00% | 5.50% |
| 1 year 1 day to 2 years | 5.60% | 6.10% | 5.00% | 5.50% |
| 2 years 1 day to 3 years | 5.75% | 6.25% | 5.00% | 5.50% |
| 3 years 1 day to 5 years | 5.75% | 6.25% | 5.00% | 5.50% |
| 5 years 1 day to 10 years | 5.75% | 6.50% | 5.00% | 5.75% |
*New rates are effective from 18 May 2020 and can change from time to time.
Term Deposits Interest Rates 2020 for Amounts Equal to or More than Rs.5 crore (Domestic/NRO/NRE)
| Period | FD Rate of Interest (p.a) | ||||
|---|---|---|---|---|---|
| Rs.5 cr to Rs.5.25 cr | Rs.5.25 cr to Rs.5.50 cr | Rs.5.50 cr to Rs.24.75 cr | Rs.24.75 cr to Rs.25 cr | Rs.25 cr to Rs.200 cr | |
| 7 days to 14 days | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% |
| 15 days to 29 days | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% |
| 30 days to 45 days | 3.50% | 3.25% | 3.50% | 3.25% | 3.50% |
| 46 days to 60 days | 3.75% | 3.25% | 3.75% | 3.25% | 3.75% |
| 61 days to 90 days | 3.75% | 3.25% | 3.75% | 3.25% | 3.75% |
| 91 days to less than or equal to 6 months | 4.25% | 3.35% | 4.25% | 3.35% | 4.25% |
| 6 months 1 day to less than or equal to 9 months | 4.75% | 3.35% | 4.75% | 3.35% | 4.75% |
| 9 months 1 day to less than to 1 year | 4.75% | 3.40% | 4.75% | 3.40% | 4.75% |
| 1 year to 2 years | 5.00% | 3.45% | 5.00% | 3.45% | 5.00% |
| 2 years 1 day to 10 years | 5.00% | 3.45% | 5.00% | 3.45% | 5.00% |
*New rates are effective from 15 May 2020 and can change from time to time.
Additional Features of HDFC Fixed Deposits
- You can avail loans and credit cards through HDFC FD with 90% of the FD as loan and credit cards at minimal interest rates.
- Online benefits such as booking an FD, appoint nominees, liquidate deposits, and view fixed deposit advice.
- You could earn compound interest by reinvesting your principal along with the interest amount earned during the FD period.
- Avail Sweep-in facility wherein you can transfer money to your savings or current account from your FD if the balance in your savings or current account goes below a certain limit.
- Avail Super Saver facility to take advantage of the funds in your savings or current account wherein you can opt between a savings or current account to link it to your FDs and utilise an overdraft facility for your requirements.
HDFC NRI Fixed Deposit
- Multiple types of FDs to suit your needs.
- Minimum deposit amount is Rs.25,000 for a fresh or new account, while it's Rs.10,000 for add-ons.
- Interest and principal are fully repatriable.
- You can benefit from an Overdraft in NRO savings or current accounts of up to 90% of the FD amount.
- Tenure of a minimum of 1 year and a maximum of 10 years.
- Interest amount earned is exempted from income tax in India.
Domestic/NRO and NRE Non-Withdrawable Deposit Rates for deposits >=Rs.5 crore
| Period | Interest Rate (p.a.) for deposits above Rs.5 crore to >=Rs.100 crore |
|---|---|
| 91 days to less than or equal to 6 months | 4.35% |
| 6 months 1 day to less than or equal to 9 months | 4.85% |
| 9 months 1 day to less than to 1 year | 4.85% |
| 1 year to 2 years | 5.10% |
| 2 year 1 day to 10 years | 5.10% |
*New rates are effective from 15 May 2020 and can change from time to time.
Types of HDFC Fixed Deposits
- Dream Deposits.
- 5-year Tax Saving Fixed Deposits.
- Overdraft Against Fixed Deposits.
- Sweep-in Facility
How to Calculate HDFC Fixed Deposit Interest Rates
The interest that you earn on your FD depends on several factors, including the amount, rate of interest, tenure, frequency of interest calculation, and taxation. To calculate the interest earned on your HDFC FD is hassle-free and simple. All you got to do is visit the online HDFC FD calculator to know the amount you can earn after maturity.
FAQs on HDFC Interest Rates
- Can I change the tenure of my HDFC fixed deposit account?
You cannot change the tenure; however, you can close the existing account and open a new with a tenure of your choice.
- Can I withdraw from my HDFC FD account ahead of the maturity date?
You can withdraw from your FD account; however, the bank will give the principal amount with either a lower rate of interest or after deducting any penalties. That said, FDs through HDFC have a lock-in period of 1 month to 5 years, where you cannot withdraw from your FD account.
- Can I deposit more funds to my HDFC FD account?
HDFC does not have the option to add more cash to your FD account; however, you can open a new FD to add more liquidity.
- Do I need to submit KYC documents for opening a HDFC FD account?
Yes, you need to submit KYC documents for a FD account with HDFC bank.
- Can a Non-HDFC Bank customer open an FD online?
Both new and existing can open and operate the HDFC FD account online. First-time or new customers can get the username and password by visiting the local HDFC branch.
- Is PAN mandatory to open an HDFC FD account?
A PAN is mandatory to open or operate an HDFC FD account. If you do not have a PAN, then your:
- TDS exemption form will be found to be void.
- TDS deduction will be of a minimum of 20%.
- TDS credit cannot be availed.
- TDS certificate might be given.
- Which forms do I need to submit to evade TDS?
Form 15G/15H needs to be submitted at the beginning of each financial year.
- How can I book a FD via SMS?
To book a HDFC FD via SMS, you need to send a text message to 5676712 after typing ‘BOOKFD’. On doing so, a FD will be booked with Rs.5000 for 12 months by default. In case, you want to book a FD with a different amount for a period of 12 months, you need to type BOOKFD
and for booking the FD for a mentioned amount and tenure you must type BOOKFD and send to 5676712. - Who is eligible to open a term deposit account with HDFC Bank?
A term deposit account with HDFC Bank can be opened by:
- Residents
- Hindu Undivided Families
- Sole Proprietorship firms
- Partnership firms
- Limited companies
- Trust accounts
- Can I book the five-year Tax Saving fixed deposit with the quarterly payout option?
Yes. HDFC Bank offers you the option of booking the five-year tax saving fixed deposit with the monthly or quarterly payout option.
