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  • Fixed Deposit BYTES FROM OUR KITCHEN

    HDFC Bank Fixed Deposit: An Overview

    HDFC Bank offers a wide range of Fixed Deposit (FD) options for individuals and senior citizens. HDFC provides customers best FD rates in the industry and is one among the most well-reputed banks in India. It is very easy to open a HDFC term deposit online and this can be done by logging in to the HDFC internet banking account. HDFC offers tax-saver deposits and a number of other FDs that come with seep-in facility, loan/overdraft facility and online booking facility. Use the FD Calculator to know exactly how much you will earn through the FD. The online FD calculator will tell you the maturity value of your deposit and the total interest earned. The FD calculator will help an investor choose how much to invest and for how long to invest. To know the maturity amount, enter the principal amount, tenure, rate of interest and type of FD.

    HDFC, expanded as Housing Development Finance Corporation Limited, was established in 1994. The Bank was one of the first banks in the country to get an approval ‘in principle’ from the Reserve Bank of India (RBI), to operate in the private sector in 1994 in collaboration with RBI towards it’s ‘Liberalisation’ policy. All fixed deposit programmes offered by the bank are rated by well reputed and trustworthy credit rating bodies.

    How to open a Fixed Deposit in HDFC online

    1. Log on to HDFC internet banking
    2. Go to the requests section in the ‘Accounts’ tab and click on ‘Open Fixed Deposit’
    3. Choose the branch, tenure of deposit, principal, type of deposit, nominee,etc
    4. Verify details and click ‘Continue’
    5. Click ‘Confirm’ to successfully open FD
    6. Download the time deposit advice

    Benefits of opening HDFC term deposit online

    • Faster, simple and hassle-free
    • No need for paperwork
    • FD can be liquidated instantly
    • FD can be renewed online
    • Appoint nominees online
    • Submit 15G/H forms

    HDFC Bank Fixed Deposits

    HDFC Bank offers different types of FDs that cater to different needs. The following are the different types of FDs:

    HDFC also offers different interest rates for various investment slabs. These include:

    • Domestic deposits (less than Rs.1 crore)
    • Domestic deposits (Rs.1 crore to Rs.5 crore)
    • Domestic deposits (Rs.5 crore and above)

    Features of HDFC Bank Fixed Deposits

    • Convenience factor of booking FDs online
    • Competitive interest rates
    • Higher interest rates for senior citizens
    • Attractive interest payout options

    Interest Payout Options Offered by HDFC Bank

    Customers can choose different interest payout options based on their financial needs. Below is the table of the various options to choose from:

    Monthly Interest is paid each month
    Quarterly Interest is paid every quarter
    Lump Sum at maturity Interest is paid at the time of maturity along with the principal
    • Monthly: This type of interest payout option gives the investor interest income each month. This is ideal for customers looking for a monthly income to meet their needs.
    • Quarterly: if you choose a term deposit that pays interest every quarter, you can take advantage of the interest compounding factor.
    • Lump Sum at maturity: These are cumulative deposits, where the interest is paid only at the time of maturity.

    Eligibility criteria to open HDFC FD

    Following individual/groups are eligible to open an FD:

    • Individuals
    • Hindu Undivided Families
    • Partnership firms
    • Sole proprietorship firms
    • Trust accounts

    Interest rates for HDFC FDs

    HDFC bank offers competitive industry rates on FDs and also a wide range of flexible tenure options. There are many types of FDs offered and various tenure ranges. Investors can go for short-term, medium-term or long-term FDs. The best FD rate offered on HDFC bank FDs is 6.75% for individuals and 7.25% for senior citizens.

    The interest rate offered for individuals ranges from 3.50% to 6.75% and for senior citizen, the interest slab ranges from 4.00% to 7.25%.

    HDFC FD Calculator

    To calculate the interest that you will earn on an FD, use the online FD calculator. This tool will help you ascertain the interest earned and the total value of the FD after completion of the tenure. For example, if you invest Rs.1 lakh in a reinvestment plan for 1 year, the maturity amount will be Rs.1,06,923. On the other hand, if you choose a quarterly payout option, the total value of the investment will be Rs.1,06,749. Here, the total interest earned will be Rs.6,749.

    • Deposit Amount: Rs.1 lakh
    • Rate of Interest: 6.75%
    • Tenure: 1 year
    • Maturity Amount: Rs.1,06,923
    • Total Interest Earned: Rs.6,923

    Documents required to open HDFC FD

    Identity proof

    • PAN card
    • Aadhaar card
    • Passport
    • Driving licence
    • Voters ID

    For senior citizens

    Along with other identity proof documents, senior citizens will have to provide proof of age in order to claim additional interest rate.

    Important points to note on HDFC FD

    • Minimum and maximum amount: The minimum amount required to open an FD is Rs.5000, while there is no cap on the upper limit.
    • Minimum and maximum tenure: The minimum tenure for HDFC deposits is 7 days, while the maximum is 10 years.
    • PAN: It is a must to provide PAN card details when you open an HDFC FD.
    • Tax and Tax Deducted at Source (TDS): The interest earned on term deposits are taxable under Section 80C of the Income Tax Act. TDS will be applicable to be deducted if the interest income earned is more than Rs.10,000 in a given financial year.
    • HDFC online banking services: HDFC deposit holders can avail the various benefits of online banking.
    • Loans on HDFC FD: HDFC provides loan and overdraft facility on all FDs. A loan of up to 90% of the FD can be taken at a very nominal interest rate. The account holder can continue to earn interest on the remaining amount.
    • Benefits for senior citizens: Senior citizens who are residents of India enjoy an increased rate of 0.50% over the existing rate of interest on their fixed deposit schemes. In fact, on long tenure fixed deposit accounts, senior citizens residing in India can get interest up to 7.25% p.a., which is compounded quarterly.
    • Credit cards against FDs: HDFC issued credit cards against fixed deposits at a very minimal interest rate. A credit card will be issued to a customer depending on the type and value of FD held. HDFC is one among the market leaders in the credit card industry.
    • HDFC NRI fixed deposits: HDFC offers NRO, NRE and FCNR deposits for all NRIs. These types of deposits are ideal for NRI’s who want to park their earnings in India.
    • Premature withdrawals: HDFC allows all customers to close a deposit prematurely and withdraw funds. However, this will be subject to a penalty at the rate of 1%.

    HDFC Bank Fixed Deposit Reviews

    • 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? 3
      , 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? 4
      , 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? 6
      , 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? 0
      , chennai
      Reviewed on Nov 30, 2018
    • HDFC Bank Fixed Deposit
      "Good"
      0.5 5.0/5 "Blown Away!"
      I do have a fixed deposit account with HDFC Bank. They are giving good interest. I can manage this account online. I have chosen HDFC because of bank financial is good. I have just started recently and its a one time investment of 3L. The process was very quick and it was done through online.
      Was this review helpful? 1
      , noida
      Reviewed on Nov 27, 2018
    • HDFC Bank Fixed Deposit
      "Save money with very good interest rate"
      0.5 5.0/5 "Blown Away!"
      Currently HDFC is providing 7.5% of interest for FD account, I taken FD for the tenure of three years. I can deposit minimum to maximum amount, the customer service is very helpful related to the FD queries. I am getting message its very simple and beneficial.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 24, 2018
    • 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 can also close this account without having to go in person to the bank. It can be done online too.
      Was this review helpful? 8
      , chennai
      Reviewed on Sep 15, 2018
    • HDFC Bank Fixed Deposit
      "Good service"
      0.5 4.0/5 "Great!"
      I had started making this investment almost a year back. The interest rate with them had changing according to the market rate. The services which they had been providing so far had been very good. Tenure with them also had been good and i make the deposits directly.
      Was this review helpful? 7
      , new delhi
      Reviewed on Jul 26, 2018
    • HDFC Bank Fixed Deposit
      "Good Service"
      0.5 4.0/5 "Great!"
      I've a fixed deposit with the HDFC bank for 1 Lakh, they offered an annual interest rate of 9.5% annual. They also offers special rates for Senior Citizen. Apart from the fixed deposit I hardly use the account. Overall their banking services are good.
      Was this review helpful? 29
      , chennai
      Reviewed on May 17, 2018
    • HDFC Bank Fixed Deposit
      "Good service"
      0.5 4.0/5 "Great!"
      I have a Fixed Deposit with HDFC bank from last 4 years, my experience was good so far and i did not face any issues with this bank. I have deposited a fixed amount of Rs 5-6 lakhs. When it comes to customer service, it is good and they gave all the right information. I get interest of 6% as returns and i am satisfied with it.
      Was this review helpful? 2
      , kolkata
      Reviewed on Mar 29, 2018
    • HDFC Bank Fixed Deposit
      "Good overall"
      0.5 5.0/5 "Blown Away!"
      I also bank with HDFC Bank for the fixed deposit. The customer services are good and there are no issues in the process. The lock in period is for a year. The interest rate is good and there are no charges. The experience has been good as I can track all the details on the mobile application.
      Was this review helpful? 2
      , bangalore
      Reviewed on Mar 24, 2018
    • HDFC Bank Fixed Deposit
      "Good overall"
      0.5 5.0/5 "Blown Away!"
      It was a smooth process to open a fixed deposit at HDFC Bank. There is a lock in period for one year. After which I can close the account. The rate of interest is normal like the other banks. There are no charges taken for this. Good services overall.
      Was this review helpful? 3
      , new delhi
      Reviewed on Feb 19, 2018
    • HDFC Bank Fixed Deposit
      "More than satisfactory"
      0.5 5.0/5 "Blown Away!"
      My fixed deposit account is with HDFC Bank and the rate of interest is of 6.5%. The customer services are good and the response is also satisfactory. They contact me on time when ever there is a query. I been a long time privilege customer and I am happy with the services.
      Was this review helpful? 1
      , mumbai
      Reviewed on Feb 09, 2018
    • HDFC Bank Fixed Deposit
      "Average"
      0.5 3.5/5 "Pretty good"
      I do have Fixed deposit account with the HDFC bank and the interest rate was around 7.5% and the customer service was an average one. I would like to say that the response was okay one for me with the HDFC bank and everything is good one too with them.
      Was this review helpful? 2
      , kolkata
      Reviewed on Feb 06, 2018
    • HDFC Bank Fixed Deposit
      "Easy to start and renew"
      0.5 4.5/5 "Excellent!"
      I had invested in FD with HDFC through net banking. The benefits what I get here are huge. It hardly takes about 5 minutes to open this deposit. Net banking and mobile app are very easy to use. I can see the FD summary online and also renew it online. Current Rate for 1 year FD is 6.75% per annum.
      Was this review helpful? 2
      , gurgaon
      Reviewed on Jan 28, 2018
    • HDFC Bank Fixed Deposit
      "Very Convenient "
      0.5 5.0/5 "Blown Away!"
      I have opened HDFC fixed deposit before eight months, I have deposited the amount for the period of one year. Then if I want I can renew it through online. They are providing 6.9% of interest for FD account, I could track FD through netbanking and phone banking.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jan 23, 2018
    • HDFC Bank Fixed Deposit
      "FD with HDFC"
      0.5 4.0/5 "Great!"
      I have opened a fixed deposit account with HDFC bank. They are providing good interest for fixed deposit. The interest rte is 6.75% annually. The duration for my FD is for 12 months. If i withdrew with in the duration then some charges will be applicable which is around 1 to 2% of the principal amount.
      Was this review helpful? 2
      , thane
      Reviewed on Dec 30, 2017
    • HDFC Bank Fixed Deposit
      "Better"
      0.5 4.0/5 "Great!"
      I had opened a Fixed Deposit account with HDFC Bank through online portal. Earlier they provided higher rate of interest now it was come down to 6.9%. Whenever I call the customer support they respond properly and IVR system is good. The net banking features are good.
      Was this review helpful? 0
      , navi mumbai
      Reviewed on Dec 29, 2017
    • HDFC Bank Fixed Deposit
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have a fixed deposit with Hdfc,the service was good. I use Hdfc fixed deposit online application which was easy to use still I use to visit their branch directly to deposit it has been 20 years I have taken the fixed deposit with Hdfc it was a fine experience with Hdfc fixed deposit service.
      Was this review helpful? 4
      , mumbai
      Reviewed on Dec 26, 2017
    • HDFC Bank Fixed Deposit
      "Excellent"
      0.5 4.5/5 "Excellent!"
      I am having the fixed deposit account with the HDFC bank and the online banking services are good one too. I am happy with the HDFC bank till now. Online banking services are really good one with the HDFC bank.
      Was this review helpful? 10
      , bangalore
      Reviewed on Dec 07, 2017
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