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  • Fixed Deposit BYTES FROM OUR KITCHEN

    HDFC Bank Fixed Deposit: An Overview

    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.

    Types of HDFC Bank Term Deposit schemes

    • Regular Fixed Deposit scheme
    • Overdraft against FD scheme
    • Sweep-in Facility
    • 5-year Tax Saving Fixed Deposits

    Features of HDFC Bank Fixed Deposit scheme

    • The interest rates for HDFC Bank FD scheme lie within the range of 3.50% p.a. to 7.40% p.a.
    • Senior citizens or individuals above the age of 60 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.
    • Premature withdrawals will be penalized with an interest rate will be 1% less than applicable rate.
    • In case one makes a premature withdrawal within 7 days of creating the account, they will not receive any interest.
    • One can open or close the FD account through netbanking or internet banking.
    • The tenure range for HDFC Bank Fixed Deposits is 7 days to 10 years.
    • The depositor is allowed to avail the nomination facility.

    Features of HDFC Bank Overdraft against Fixed Deposit scheme

    • One can link their savings account or current account to the Term Deposit account.
    • The FD account is easily liquefiable.
    • In case of withdrawals, one must repay the amount at an interest rate which is 2% more than the FD rate.
    • The funds remaining in the account would continue to yield interest.
    • The bank allows the depositor to modify the tenure and maturity-related instructions.

    Features of HDFC Bank Fixed Deposit with Sweep-In Facility

    • The Sweep-In facility enables one to transfer funds from the FD account to their linked savings account.
    • The breaking down of the FD is done in units of Re.1.
    • If the deposit is broken within 7 days of creating the account, the depositor will not receive interest.

    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.
    • One needs to invest within the range of Rs.100 and Rs.1.5 lakh.
    • A depositor can choose to receive the interest income either on a monthly basis or a quarterly basis.
    • The 5-year Tax Saving FD scheme comes with a tax benefit as per Section 80C of the Income Tax Act, 1961.
    • One can create a Fixed Deposit account as a joint account.
    • If the FD account is a joint account, only the primary account holder will be eligible for the tax benefits.
    • The interest rate for the Tax Saving FD is 6.50% p.a. for the general public and 7.00% p.a. for senior citizens.
    • The interest income will be subject to taxation under Tax Deducted at Source (TDS) according to the Income Tax Act, 1961.

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

    • In case of Term Deposit below 6 months, the interest is calculated every quarter.
    • For deposits with a tenure equal to or above 6 months, the simple interest is given out on the date of maturity.
    • Interest is calculated on a quarterly basis for cumulative deposits and deposits with reinvestment.
    • For FDs with a monthly payout, the interest is calculated every quarter and paid every month.

    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 apply for HDFC Bank FD

    • Government validated identity and address proof of the applicant
    • Permanent Account Number (PAN) Card
    • Form 15G/15F (if one needs exemption from TDS)
    • Recent passport-size photographs of the applicant

    HDFC Bank FD rates: Deposits Below Rs.1 crore

    Tenure bracket Regular FD rates (per annum) Senior Citizens FD rates (per annum)

    7 days to 15 days

    3.50%

    4.00%

    15 days to 1 month

    4.25%

    4.75%

    1 month to 46 days

    5.75%

    6.25%

    46 days-180 days

    6.25%

    6.75%

    181 days-270 days

    6.75%

    7.25%

    271 days to 12 months

    7.10%

    7.60%

    12 months to 24 months

    7.30%

    7.80%

    24 months 1 day to 36 months

    7.40%

    7.90%

    Above 36 months to 60 months

    7.25%

    7.75%

    Above 60 months to 96 months

    6.50%

    7.00%

    Above 96 months to 120 months

    6.50%

    7.00%

    *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 4 December 2018.

    FAQs about HDFC Bank Fixed Deposit scheme

    1. What is the highest HDFC Bank FD rate?
    2. In case of deposits under Rs.1 crore, the highest rate for HDFC Bank Fixed Deposit is 7.40% p.a. for a tenure above 2 years to 3 years.

    3. How can I open a HDFC Bank Fixed Deposit account?
    4. One can open an FD account either by visiting the nearest bank to fill out an application form.

      One can also choose to open an account through netbanking.

    5. What is the minimum deposit needed to open a HDFC Bank FD account?
    6. For a regular FD account, one needs to deposit a minimum amount of Rs.5,000.

    7. What is the minimum amount needed to open a 5-year Tax Saving FD account?
    8. The minimum amount needed for a Tax Saving Term Deposit is Rs.100.

    9. How can I get an exemption from TDS on my FD?
    10. If one’s net income is less than the taxable income, they can seek an exemption from TDS by submitting the Form 15G/15F.

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    HDFC Bank Fixed Deposit Reviews

    • 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? 0
      , mumbai
      Reviewed on May 30, 2019
    • HDFC Bank
      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? 1
      , 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? 1
      , 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? 3
      , 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? 1
      , 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? 2
      , 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? 1
      , 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? 2
      , 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? 1
      , 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? 4
      , 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? 4
      , 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? 4
      , bangalore
      Reviewed on Mar 29, 2019
    • HDFC Bank Fixed Deposit
      "Very Good Service"
      0.5 4.0/5 "Great!"
      I had just started this investment couple of months back and the services which they had provided has been good. I had started this investment through one of the brokerage nearby. Their customer support has been helpful and has been guiding me through out and the interest rate which they are offering has also been quite good.
      Was this review helpful? 5
      , new delhi
      Reviewed on Mar 03, 2019
    • HDFC Bank Fixed Deposit
      "Good"
      0.5 4.5/5 "Excellent!"
      I have a fixed deposit with HDFC which was started 2 years back. I have chosen it mainly for the interest rate and also its convenient to open this account online also am a salary account holder. The locking period is 5 years. I never faced issues with the customer service. They need an improvement on interest rate because I think it could be better.
      Was this review helpful? 5
      , bangalore
      Reviewed on Feb 01, 2019
    • HDFC Bank Fixed Deposit
      "Good investment"
      0.5 5.0/5 "Blown Away!"
      I have invested in the fixed deposit for the amount of Rs. 1 lakh for 10 years, the interest rate is around 9% per annum. I went to the bank and opened the FD, there is no charges for pre matured withdrawal. The executive explained each benefits of the FD.
      Was this review helpful? 8
      , bangalore
      Reviewed on Jan 24, 2019
    • HDFC Bank Fixed Deposit
      "Good Investment plan"
      0.5 4.0/5 "Great!"
      I have taken Fixed deposit account from HDFC bank where am getting good benefits from them . There is no charges for the account . Where they are giving good rate of interest i have chosen long term investment plan.Overall am satisfied with the service and response .
      Was this review helpful? 5
      , ahmedabad
      Reviewed on Jan 23, 2019
    • HDFC Bank Fixed Deposit
      "Hassle free"
      0.5 5.0/5 "Blown Away!"
      I also have a fixed deposit account with HDFC Bank. The process to open this account is easy. I can do it online. They also offer a good rate of interest on the account. The bank has always been up to the mark to ban with. It is very convenient and easy.
      Was this review helpful? 8
      , noida
      Reviewed on Jan 09, 2019
    • HDFC Bank Fixed Deposit
      "Good service"
      0.5 4.0/5 "Great!"
      I do have a fixed deposit account with HDFC Bank. They are giving good interest. I can manage this account on line. I have chosen HDFC because of bank financial is good. I have just started long time, The process was very quick and it was done through on line.
      Was this review helpful? 6
      , thane
      Reviewed on Jan 02, 2019
    • HDFC Bank Fixed Deposit
      "Convenient FD with HDFC"
      0.5 5.0/5 "Blown Away!"
      In HDFC I can deposit for minimum of Rs. 5000 to max amount. I done the investment of one time payment around Rs.6 lakhs. I can chose the tenure period based on the convenient, it gives the interest of 7% its maximum. I can open and close the account through online.
      Was this review helpful? 8
      , pune
      Reviewed on Dec 17, 2018
    • HDFC Bank Fixed Deposit
      "Good Investment plan"
      0.5 5.0/5 "Blown Away!"
      I have taken the fixed deposit for my wife. I have purchased the plan with HDFC bank. I have chosen in the year of 2012. I have invested the fixed amount of Rs. 17 lakhs. They have offered me a interest rate of nominal amount. The service is HDFC is really good. Every year i have enhancing the interest rate for the fixed deposit.
      Was this review helpful? 1
      , chennai
      Reviewed on Nov 30, 2018
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