As a part of the Reserve Bank of India (RBI) policy to enhance liberalization, HDFC or the Housing Development Finance Corporation Limited, received approval to become the first bank to enter into the private sector. HDFC Bank was incorporated in August 1994.
Currently, the bank has 6,499 branches and 18,868 ATM's in 3,226 cities/towns.
Fixed Deposits are one of the safest ways of investing. HDFC bank provides an offer to invest in Fixed Deposits. It has a period ranging from 7 days to 10 years. It provides a different rate of interest based on certain factors.
|Tenure||For General Citizens (p.a.)||For Senior Citizens (p.a)|
|7 - 14 days||3%||3.5%|
|15 - 29 days||3%||3.5%|
|30 - 45 days||3.5%||4%|
|46 - 60 days||4.5%||5%|
|61 - 89 days||4.5%||5%|
|90 days < = 6 months||4.5%||5%|
|6 months 1 days <= 9 mnths||5.75%||6.25%|
|9 months 1 day to < 1 year||6%||6.5%|
|1 year to < 15 months||6.6%||7.1%|
|15 months to < 18 months||7.1%||7.6%|
|Note: All interest rates are updated as of 1st Aug 2023|
Regular Fixed Deposits
HDFC Bank Health Cover FD
Five-Year Tax Saving Fixed Deposit
To invest in HDFC Bank Fixed Deposits, the following are eligible-
The following documents are required to invest in HDFC bank Fixed deposits-
If the investor have a saving account or current account with HDFC Bank, then, Fixed deposit account can be opened in both online and offline way-
Step1- Login to your Net Banking Application.
Step2- Select 'Transact' and choose open Fixed deposit.
Step3- Fill the required details after selecting the bank's branch.
Step4- Enter the amount of deposit and select the tenure of FD. Also enter the nominee details.
Step5- Click confirm and continue.
Step1- Visit the bank branch.
Step2- Take the FD application form.
Step3- Fill the required details and submit the necessary documents.
Step4- Submit the form to the branch.
In case of premature withdrawal, the lower of the below two amounts will be applicable as interest rates on them-
As per the Income Tax Act of 1961, taxpayers can seek deductions under Section 80C.
According to the current laws, a taxpayer can avail tax benefits to a maximum of Rs 1.5 lakh a year from their gross taxable income.
At the time of filing the Income Tax Returns (ITR), the taxpayer can provide supporting documents to avail tax benefits on FDs.
No, HDFC bank does not allows to change the tenure of the FD. Either they say to close the
existing FD and start a new one with the tenure required.
No, more funds cannot be added to the current HDFC bank FD account.
Yes. Rs.5 lakh DICGC insurance cover is applicable on HDFC bank FD
No, the investor can open as many FD accounts with HDFC bank as they wish.
Disclaimer: The calculator and the results of the same are based on information inputted by you and extracted from third party sources. The information on this page is for illustrative purposes only and does not amount to any investment advice or recommendation. Wint Wealth has no commercial interest or gain in or from the actions resulting from the information displayed on this page. The information displayed on this page does not constitute an invitation to invest in any product nor is it a promise of performance. Interest rates are not updated in real time and you are advised to make your own enquiries, consult a professional advisor and verify the information prior to taking any investment decisions.