• HDFC Bank Fixed Deposit

    HDFC Bank offers investment opportunities such as Term Deposits or Fixed Deposits (FDs). FDs enable an investor to park any surplus funds for an interest income. This scheme is for a fixed interest rate and a predetermined period.

    A Fixed deposit with HDFC Bank can be opened for a period that ranges between 7 days and 10 years. The interest paid by the lender on FDs range between 3.00% to 5.75% p.a.

    Types of HDFC Bank Term Deposit schemes

    • Regular Fixed Deposit
    • Overdraft against FD
    • FCNR Fixed Deposit
    • 5-year Tax Saving Fixed Deposits

    Features of HDFC Bank Regular Fixed Deposit

    • The interest rates for HDFC Bank FD scheme lie within the range of 3.00% p.a. to 5.75% p.a.
    • Senior citizens are eligible to receive a rate which is 0.50% higher than the regular rates.
    • The interest income earned on HDFC Bank FD Time Deposit is taxed under Tax Deducted at Source (TDS) as per the Income Tax Act, 1961.
    • In case, you make a premature withdrawal within 7 days of opening the account, you won’t receive any interest on the deposit.
    • One can open or close the FD account using the internet banking facility.
    • The tenure range for HDFC Bank Fixed Deposits is between 7 days and 10 years.
    • Nomination facility available.

    Features of HDFC Bank Overdraft against Fixed Deposit

    • You can link your savings account or current account to your fixed deposit.
    • In case of withdrawals, you must repay the amount at an interest rate which is 2% more than the FD rate.
    • The minimum deposit amount to open an overdraft against FD account is Rs.25,0000
    • Pay back with interest is only on the drawn amount, the remaining amount continues to yield interest.
    • The bank allows you to modify the tenure, payment and maturity instructions, rollover mode before maturity of the deposit.

    Features of HDFC Bank Foreign Currency Non-Resident (FCNR) Fixed Deposit

    • Can hold your deposit is any of the six major global currencies i.e., US dollar, pounds sterling, Euro, Japanese Yen, Australian dollars, and Canadian dollars.
    • Avail fully repatriate principal and interest amount.
    • Tax exemption on the entire deposit.
    • Overdraft available on your NRO savings or current account against the FCNR fixed deposit with the Super Saver facility.

    Features of HDFC Bank 5-year Tax Saving Fixed Deposit scheme

    • This variant of Term Deposit comes with a lock-in period of 5 years.
    • You can invest within the range of Rs.100 and Rs.1.5 lakh.
    • You can choose to receive the interest income either on a monthly or quarterly basis.
    • The HDFC 5-year Tax Saving FD comes with tax benefit as per Section 80C of the Income Tax Act, 1961.
    • The interest rate for the Tax Saving FD is 5.75% p.a. for the general public and 6.50% p.a. for senior citizens.

    How is the interest rate calculated on HDFC Bank Fixed Deposit?

    • In case of term deposits having a tenure below 6 months with quarterly interest payout option, the interest is calculated on a quarterly basis.
    • For term deposits having a tenure below 6 months with monthly interest payout option, the interest is calculated for the quarter and paid monthly at a discounted rate over the standard deposit rate.
    • Fixed Deposits having a tenor below 6 months with interest reinvestment option, cumulative interest for the quarter is added to the principal in subsequent quarter and interest is calculated on the total amount.
    • For fixed deposits with a tenure equal to or above 6 months, simple interest is paid.

    Eligibility Criteria for HDFC Bank Regular FD

    • Indian resident
    • Member of the Hindu Undivided Family
    • Firms with Sole Proprietorship
    • Firms with partnership
    • Trusts
    • Limited Companies

    Documents needed to be submitted for opening a FD with HDFC Bank

    • Government validated identity and address proof
    • PAN Card
    • Form 15G/15F (if you need exemption from TDS)
    • Recent passport-size photograph.

    HDFC Bank FD rates: Deposits Below Rs.2 crore

    Tenure bracket Regular FD rates (p.a.) Senior Citizens FD rates (p.a.)
    7 days to 14 days 3.00% 3.50%
    15 days to 29 days 3.50% 4.00%
    30 days to 45 days 4.00% 4.50%
    46 days to 6 months 4.50% 5.00%
    6 months 1 day to 9 months 5.00% 5.50%
    9 months 1 day to less than 12 months 5.25% 5.75%
    12 months 5.60% 6.10%
    12 months 1 day to 24 months 5.60% 6.10%
    24 months 1 day to 36 months 5.75% 6.25%
    36 months 1 day to 60 months 5.75% 6.25%
    60 months 1 day to 120 months 5.75% 6.50%

    *The HDFC Bank Fixed Deposit rates are subject to change as per the discretion of the bank. The rates mentioned here are applicable as of 18 May 2020.

    FAQs about HDFC Bank Fixed Deposit Scheme

    1. What is the highest HDFC Bank FD rate?

      In case of deposits under Rs.2 crore, the highest rate for HDFC Bank Fixed Deposit is 5.75% p.a. for a tenure that ranges between 2 years 1 day and 10 years.

    2. How can I open a HDFC Bank Fixed Deposit account?

      One can open an FD account either by visiting the nearest bank or through net banking.

    3. What is the minimum deposit needed to open a HDFC Bank FD account?

      For a regular FD account, one needs to deposit a minimum amount of Rs.500.

    4. What is the minimum amount needed to open a 5-year Tax Saving FD account?

      The minimum amount needed for a Tax Saving Term Deposit is Rs.100.

    5. How can I get an exemption from TDS on my FD?

      You can get exemption from TDS by submitting Form 15G or 15F.

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    HDFC Bank Fixed Deposit Reviews

    • HDFC Bank Fixed Deposit
      "Safe and Secure"
      0.5 5.0/5 "Blown Away!"
      I have purchased HDFC Fixed deposit which I am renewing for every 13 months. They have given me an interest rate of 7% and There is no processing fee and there is no locking period as well. If I'm withdrawing FD amount before locking period, they are charging some amount.
      Was this review helpful? 15
      , ahmedabad
      Reviewed on Mar 01, 2020
    • HDFC Bank
      HDFC Bank Fixed Deposit
      "FD is not good with HDFC"
      0.5 4.0/5 "Great!"
      I have invested some money as a Fixed deposit in HDFC Bank and the interest rate is not that much great because they are giving interest as compared to others. I have invested the money of Rs. 3L and there is a locking period of 5 years. Its 7% interest rate. If they are increasing the interest rate, it would be fine. Since I do all my transactions with this bank, I have selected same for my FD as well.
      Was this review helpful? 14
      , bangalore
      Reviewed on Jan 31, 2020
    • HDFC Bank Fixed Deposit
      "Good one"
      0.5 4.0/5 "Great!"
      Its easy accessible and to redeem so that i have invested the money in Fixed Deposit with HDFC BANK. I have invested the money of Rs. 2.5 lakhs and they have provided me a interest rate of 7.5%. There is no locking period. I didn't got any additional charges till now.
      Was this review helpful? 20
      , hyderabad
      Reviewed on Nov 12, 2019
    • HDFC Bank Fixed Deposit
      "Good to go with HDFC"
      0.5 5.0/5 "Blown Away!"
      I have one FD with HDFC, I deposited Rs. 1 lakh, I was opt for 45 days of tenure. Finally I got 6.25% of interest for 45 days. It won't cover the tax, if we need tax benefits we should go for five years term. I can track the details through netbanking, on the maturity date the amount credits automatically in the account. Even the notification can customized.
      Was this review helpful? 27
      , bangalore
      Reviewed on Aug 27, 2019
    • HDFC Bank Fixed Deposit
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      I am using the savings account with HDFC BANK since from last 5 years, the reason for taking the fixed deposit was they are giving good rate of interest. The application is easy to use with the bank and to check the status of the account.
      Was this review helpful? 15
      , hyderabad
      Reviewed on Jul 20, 2019
    • HDFC Bank Fixed Deposit
      "GOOD"
      0.5 4.0/5 "Great!"
      To open the account with HDFC BANK is good and simple which is easy also quick process. They are providing with the good rate of interest with the bank. The online banking i am using it is simple and easy also it is good to use. The overall service is good.
      Was this review helpful? 8
      , kolkata
      Reviewed on Jul 17, 2019
    • HDFC Bank Fixed Deposit
      "Its satisfactory"
      0.5 4.0/5 "Great!"
      HDFC fixed deposit interest rate is very competitive as like other banks. I have activated the tenure period of one year. The online banking is convenient to manage my all investment, I can access all the information through netbanking without visiting to the bank.
      Was this review helpful? 12
      , bangalore
      Reviewed on Jun 30, 2019
    • HDFC Bank Fixed Deposit
      "Userfriendly Experience"
      0.5 4.0/5 "Great!"
      HDFC Bank FD is providing 7% of interest per annum, I can invest maximum of Rs.1.5 lakhs for under tax coverage. The tenure period get extend automatically after the maturity, for the tax saving FD there is five years of limit . I can deposit and withdraw the liquidity through online.
      Was this review helpful? 4
      , bangalore
      Reviewed on Jun 29, 2019
    • HDFC Bank Fixed Deposit
      "Good"
      0.5 4.0/5 "Great!"
      I done a Fixed Deposit account with HDFC BANK before 2 years and the rate of interest was good. I have withdrawn the money and its neither loss or nor profit. My money is safer and return is very low. There was no locking period and the executive is supportive.
      Was this review helpful? 7
      , mumbai
      Reviewed on May 30, 2019
    • HDFC Bank Fixed Deposit
      "Its Good"
      0.5 5.0/5 "Blown Away!"
      I had fixed deposit in HDFC for the amount of Rs.10,000 then I withdrawn in two months I got some interest. I went to the bank for account opening within few minutes they helped to open the account. There is no charges for pre matured liquidity fund.
      Was this review helpful? 8
      , hyderabad
      Reviewed on May 25, 2019
    • HDFC Bank Fixed Deposit
      "Good Returns from HDFC"
      0.5 4.0/5 "Great!"
      As per the guidance , I taken a Fixed Deposit in HDFC . This is one year plan and worth enough to take this plan in HDFC comparing with the interest rate . I am really happy with the better returns for my FD . I thought of continuing after one year also .
      Was this review helpful? 9
      , hyderabad
      Reviewed on May 13, 2019
    • HDFC Bank Fixed Deposit
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I am using HDFC Bank Fixed Deposit for the past 6 years ,using net banking is also good ,customer service is good .flexy deposit ,whenever required can take the amount and can deposit it later .There was no issues faced so far .The Banking service is good to me so far.I am satisifed with the banking service.
      Was this review helpful? 9
      , chennai
      Reviewed on May 13, 2019
    • HDFC Bank Fixed Deposit
      "Very much convenient"
      0.5 5.0/5 "Blown Away!"
      My all time favorite is Fixed Deposit which is secured and I can count the returns on evey month which am most comfortable. My family all have them are having in HDFC account, the manager is very friendly and rendering the service. Am doing investment since 2011 and their services are more good than the profit.
      Was this review helpful? 5
      , hyderabad
      Reviewed on May 12, 2019
    • HDFC Bank Fixed Deposit
      "Userfriendly FD experience"
      0.5 4.0/5 "Great!"
      I do have fixed deposit with HDFC, I opened it through online there is no locking period, while opening I have specified the maturity date. Minimum deposit start from Rs. 5000, they are providing 7.3% per annum. Its safe and secured to invest money with HDFC.
      Was this review helpful? 5
      , bangalore
      Reviewed on May 03, 2019
    • HDFC Bank Fixed Deposit
      "Flexible Fixed deposit"
      0.5 5.0/5 "Blown Away!"
      HDFC Is more convenient to open and close the FD through online, they give better interest as per the RBI around 6.8%. The online portal is easy to track the fixed deposit details, the help desk is good to handle the queries. I am very much happy with HDFC. I can take the tenure from three months to max tenure.
      Was this review helpful? 3
      , delhi
      Reviewed on Apr 29, 2019
    • HDFC Bank Fixed Deposit
      "Satisfied with the service"
      0.5 5.0/5 "Blown Away!"
      I have a fixed deposit account with HDFC Bank and the banking process is good. I could open this account online and the account has been beneficial too. I earn a good interest. I can also close this account without having to go in person to the bank. It can be done online too.
      Was this review helpful? 3
      , bangalore
      Reviewed on Apr 26, 2019
    • HDFC Bank Fixed Deposit
      "Good Service I am getting"
      0.5 3.5/5 "Pretty good"
      I normal deposit a cash of either 10 or 15 k in my fixed deposit because I don't have much surplus cash . Nowadays just for the name sake depositing my money in FD . Though they provide very less returns but the guarantee of getting the money back is sure .
      Was this review helpful? 4
      , hyderabad
      Reviewed on Apr 23, 2019
    • HDFC Bank Fixed Deposit
      "Excellent services"
      0.5 4.5/5 "Excellent!"
      The best bank for a fixed deposit is HDFC Bank. The customer support is good and they are responsive as well. They offer an interest like other bank on my savings. The best is there is no lock in period so I close this account when ever I want too and I can do it with just a click away online. Where as other banks they would ask me to go to the home branch.
      Was this review helpful? 7
      , new delhi
      Reviewed on Apr 16, 2019
    • HDFC Bank Fixed Deposit
      "Its Good"
      0.5 4.0/5 "Great!"
      I went to the bank for the FD process, the service was good they helped to open the account on the same day. I took the fixed deposit for the period of three years and I deposited Rs. 1 lakh, I would get the amount of Rs. 1.35 lakh. I do have HDFC online access .
      Was this review helpful? 6
      , hyderabad
      Reviewed on Apr 03, 2019
    • HDFC Bank Fixed Deposit
      "Good overall"
      0.5 5.0/5 "Blown Away!"
      I have a fixed deposit account with HDFC Bank and the banking process is good. I could open this account online and the account has been beneficial too. I earn a good interest. I can also close this account without having to go in person to the bank. It can be done online too.
      Was this review helpful? 9
      , bangalore
      Reviewed on Mar 29, 2019
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