• HDFC NRO Fixed Deposit

    The Non-Resident Ordinary (NRO) account can be held by all NRIs or people of Indian origin. The account can be easily opened online without any hassles and with very minimal documentation. These term deposits are maintained in Indian denomination. HDFC offers attractive rates of interest for NRIs holding this type of fixed deposit. The different types of NRI accounts offered by HDFC are NRO Savings Account, NRO Fixed Deposit Account, and NRO Tax Saver Fixed Deposit.

    NRO Fixed Deposit Account

    The NRO Fixed Deposit Account comes with a relatively competitive rate of interest and a range of other benefits such as interest transfer, nomination facility, etc. The interest earned on these types of deposits can be repatriated and one can also withdraw as much as 90% of the term deposit at the time of a financial emergency. The account can also be opened as a joint account. Generally, the interest earned on NRO fixed deposits will be paid to the holder of the NRO account once every 3 months. There is also another option to encash more than 50% of the deposit and earn interest on the remaining amount. The minimum tenure for NRO fixed deposits is 7 days while the maximum is up to 10 years. Please note that the income gained from NRO accounts will be subject to tax and hence all tax charges will be applicable to NRIs also.

    Interest Rates on NRO Fixed Deposits

    Tenure Interest Rate for Investment less than Rs. 1 crore Interest Rate for Investment from Rs.1 crore to less than 5 crore
    7 days to 14 days 3.50% 4.25%
    15 to 29 days 4.25% 4.25%
    30 to 45 days 5.50% 4.25%
    46 to 60 days 5.75% 4.50%
    61 to 90 days 5.75% 4.50%
    91 days to 6 months 5.75% 6.05%
    6 months 1 day to 6 months 3 days 6.00% 5.25%
    6 months 4 days 6.00% 6.25%
    6 months 5 days to 9 months 6.00% 5.25%
    9 months 1 day to 9 months 3 days 6.00% 5.25%
    9 months 4 days 6.00% 6.25%
    9 months 5 days to 9 months 15 days 6.00% 5.25%
    9 months 16 days 6.25% 5.25%
    9 months 17 days < 1 Year 6.25% 5.25%
    1 Year 6.80% 6.50%
    1 year 1 day to 1 year 3 days 6.80% 4.90%
    1 year 4 days 6.25% 6.50%
    1 year 5 days to 1 Year 15 Days 6.25% 5.00%
    1 Year 16 days 6.25% 5.00%
    1 year 17 days to 2 Years 6.25% 5.00%
    2 years 1day to 2 Years 15 days 6.00% 4.85%
    2 Years 16 days 6.00% 4.85%
    2 years 17 days to 3 Years 6.00% 4.85%
    3 years 1day to 5 years 6.00% 4.85%
    5 Years 1 Day to 8 Years 6.00% 4.85%
    8 Years 1 Day to 10 Years 6.00% 4.85%

    *Please note that interest rates are subject to change without prior notice. This is at the discretion of the bank.

    The highest interest rates offered for deposits less than Rs.1 crore is for a tenure that ranges from 1 year to 1 year and 3 days, where the rate of interest paid is 6.80%. For deposits of Rs.1 crore to less than 5 crore, the highest interest rate is 6.50% for a tenure of 1 year.

    Features and Benefits of HDFC NRO Fixed Deposits

    • Ideal option for NRIs to park their funds and earn a steady rate of interest
    • Comparatively high rate of interest offered
    • Highly liquid investment
    • One can avail loans on NRO deposits
    • Overdraft facility available
    • Interest earned can easily be transferred
    • Regular payment of interest without any hassle

    FAQS

    1. What is an NRO fixed deposit account?

      The full form of NRO is Non-Resident Ordinary account. This is a type of fixed deposit account for NRIs.

    2. Who can open an NRO fixed deposit account?

      HDFC Bank NRO fixed deposits can be opened by all NRIs or people of Indian origin.

    3. In what denomination can I maintain the NRO account?

      All NRO accounts can be maintained in Indian currency.

    4. Is it possible to choose a nominee?

      Yes

    5. Can tax benefit be availed on these deposits?

      No. It is not possible to avail a tax benefit on these types of deposits. The interest earned on these deposits will be subject to tax.

    6. Does HDFC provide an automatic renewal option?

      Yes. As long as the customer has previously provided instructions for auto renewal, all deposits will be subject to auto renewal upon maturity. The deposit will be carried forward for the same period at the current rate of interest.

    7. Can the deposit be withdrawn before maturity period?

      Yes. The deposit can be withdrawn before the maturity period subject to terms and conditions of the bank.

    8. Is it possible to take a loan on the NRO deposit?

      All NRO deposit holders are eligible to take a loan on these term accounts. The loan amount can be utilised to meet personal financial needs or to start a business. However, please note that the money cannot be used for plantation, agriculture or to start a real estate business.

    9. Will a cheque book be issued for an NRO fixed deposit account?

      There will be no cheque books or debit cards issued on these term deposits.

    10. How and when is interest paid on these deposits?

      The interest will be paid through online transfer to the respective NRO savings account. The interest is usually paid on a quarterly basis.

    11. 11. What is the minimum amount required to open an NRO fixed deposit account?

      The minimum amount of investment required to open an NRO fixed deposit account is Rs.25,000. If the customer wants an add-on fixed deposit, the investment amount will be Rs.10,000.

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    Fixed deposit Reviews

    • 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? 4
      , hyderabad
      Reviewed on Nov 12, 2019
    • HDFC Bank
      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? 18
      , 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? 12
      , 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? 4
      , 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? 9
      , 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? 1
      , 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? 5
      , 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? 5
      , 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? 7
      , 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? 6
      , 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? 2
      , 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? 3
      , 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? 2
      , 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? 5
      , 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? 7
      , 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? 9
      , bangalore
      Reviewed on Feb 01, 2019
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