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HDFC Bank Fixed Deposits offer a secure and reliable way to increase your income over time. Invest any amount starting from ₹5,000 and choose a suitable timeframe for your deposit. You can easily manage your account and access your funds if needed. HDFC Bank Fixed Deposits provide a safe and convenient option for growing your wealth.

Below are all the details you need to know about HDFC bank FD interest rates, types of FDs, and their features and benefits.

HDFC Bank FD Interest Rates - Less Than 2 Cr.

Hdfc Bank Fixed Deposit Rate

Tenure (Days/Years)

Interest Rates (% p.a.) Regular Citizens

Interest Rates (% p.a.) Senior Citizens

7 – 14 days

3.00

3.50

15 – 29 days

3.00

3.50

30 – 45 days

3.50

4.00

46 – 60 days

4.50

5.00

61 – 89 days

4.50

5.00

90 days – 6 months

4.50

5.00

6 months 1 day – 9 months

5.75

6.25

9 months 1 day – less than 1 year

6.00

6.50

1 year – less than 15 months

6.60

7.10

15 months – less than 18 months

7.10

7.60

18 months – less than 21 months

7.25

7.75

21 months – 2 years

7.00

7.50

2 years 1 day – less than 2 years 11 months

7.00

7.50

2 years 11 months (Special Edition FD of 35 months)

7.15

7.65

2 years 11 months 1 day – 3 years

7.00

7.50

3 years 1 day – less than 4 years 7 months

7.00

7.50

4 years 7 months (Special Edition FD of 55 months)

7.20

7.70

4 years 7 months 1 day – 5 years

7.00

7.50

5 years 1 day – 10 years

7.00

7.75*

Disclaimer: The interest rates on fixed deposits given above are as of 29/02/2024. For exact interest rates, contact the bank.

Features and Benefits of HDFC Fixed Deposits

Features:

  • Minimum deposit: ₹5,000
  • Flexible tenures: Choose a timeframe that suits your financial goals, ranging from short-term to long-term deposits.
  • Assured returns: Earn guaranteed interest on your deposit, offering predictability and security for your investment.
  • Compound interest: Grow your earnings further by reinvesting the interest earned along with the principal amount.
  • Sweep-in facility: Link your FD to your savings account and automatically transfer funds to maintain a minimum balance, preventing account charges.
  • Super saver facility: Get an overdraft facility against your FD to access funds without breaking the deposit, allowing you to meet unexpected financial needs.
  • Online management: Conveniently open, manage, and close your FD account through HDFC Bank's online platform.

Benefits:

  • Security: HDFC Fixed Deposits are a safe investment option, as they are backed by a reputable financial institution.
  • Steady income: Earn predictable and reliable income throughout the chosen tenure of your deposit.
  • Liquidity: Access your funds before maturity, although penalties may apply.
  • Tax benefits: Explore tax-saving FD options to potentially reduce your tax liability.

Types of HDFC Bank FD Schemes

HDFC Bank offers a variety of Fixed Deposit (FD) schemes to cater to different financial goals and needs. Here are the main types:

1. Regular Fixed Deposit: This is the most basic type of FD, offering a fixed interest rate for a chosen tenure. It is suitable for individuals seeking guaranteed returns and security for their savings.

2. Tax Saving Fixed Deposit (5-year): This FD scheme allows you to save tax under Section 80C of the Income Tax Act, with a lock-in period of 5 years. It is ideal for individuals looking to save for long-term goals while availing tax benefits.

3. HDFC Bank HealthCover FD: This unique FD scheme provides life and accident insurance coverage along with fixed deposit benefits. It is suitable for individuals seeking financial protection in addition to earning interest on their savings.

4. Goal Based Fixed Deposit Offer: This limited-period offer provides slightly higher interest rates for specific tenures, allowing you to plan and achieve your financial goals more effectively.

5. FCNR (Foreign Currency Non-Resident) Fixed Deposit: This scheme is designed for Non-Resident Indians (NRIs) to earn interest on their foreign currency deposits in Indian rupees. It offers competitive interest rates and various tenure options.

6. Recurring Deposit (RD): While not technically an FD scheme, RDs are a popular option for regular savings. You can invest a fixed amount every month over a chosen tenure to inculcate a savings habit and earn interest on the accumulated amount.

Eligibility Criteria

To open an HDFC Bank Fixed Deposit, you need to meet the following eligibility criteria:

  • Individuals: Any resident individual of India can open an FD account. This includes minors (with a guardian's consent) and senior citizens.
  • Entities: Various entities besides individuals are also eligible, including:
    • Hindu Undivided Families (HUFs)
    • Sole proprietorship firms
    • Partnership firms
    • Limited companies
    • Trust accounts

Additional Requirements:

  • Know Your Customer (KYC) documents: You will need to provide valid KYC documents as per the bank's regulations. This typically includes proof of identity, address, and photography.
  • Minimum deposit amount: The minimum deposit amount varies depending on the chosen scheme and branch location. It usually starts from ₹5,000 for regular FDs in urban branches.

Special Considerations:

  • Non-Resident Indians (NRIs): While resident Indians can open regular FDs, NRIs have specific FD schemes like FCNR (Foreign Currency Non-Resident) deposits.
  • Minors: Minors can open FDs with a legal guardian's consent. The guardian will manage the account until the minor reaches the age of majority.

Documents Required

The documents required to open an HDFC Bank Fixed Deposit (FD) will depend on your existing relationship with the bank and whether you are an individual or entity opening the account. Here's a breakdown:

For Existing HDFC Bank Savings Account Holders:

  • Proof of identity:
    • PAN card (mandatory)
    • Aadhaar card
    • Passport
    • Driving licence
    • Voter's ID card
    • Government ID card (other than the above)
  • No additional documents required (your KYC is already verified)

For Individuals who do not Have an Existing HDFC Bank Account:

  • Proof of identity: (same options as above)
  • Proof of address:
    • Electricity bill
    • Telephone bill
    • Water bill
    • Ration card
    • Passport (with address)
    • Bank statement of another bank account
    • Lease agreement (if applicable)
  • PAN card (mandatory)

Additional Documents for Entities (Apart From Individuals):

  • Proof of existence:
    • Certificate of incorporation (companies)
    • Partnership deed (partnership firms)
    • Trust deed (trust accounts)
  • Proof of authorized signatories:
    • ID proof of authorized signatories
    • Board resolution (for companies)

Disclaimer: The documents mentioned above are in general. Please contact the bank for any additional documents required.

How to Invest in HDFC FD

1. Choose Your FD Scheme:

  • Research and understand the different types of HDFC Bank FD schemes offered, each catering to various needs and goals (see previous response for details).
  • Consider factors like interest rates, tenure options, tax benefits, and any additional features before making your choice.

2. Gather Required Documents:

  • Depending on your existing relationship with HDFC Bank and whether you are an individual or entity, assemble the necessary documents (see previous response for details).

3. Choose Your Investment Method:

  • Online: Existing HDFC Bank customers with NetBanking can conveniently open FDs online through the bank's website or mobile app.
  • Branch visit: You can visit any HDFC Bank branch and meet a representative to initiate the FD opening process.

4. Open Your FD Account:

  • Online: Follow the on-screen prompts on the HDFC Bank website or mobile app, provide your details, choose the desired scheme, and transfer the investment amount.
  • Branch visit: Fill out the application form provided by the bank representative, submit the required documents, and make the initial deposit.

5. Fund Your FD:

  • Online: Utilize the available online payment methods like Internet banking or debit card transfer to deposit the desired amount.
  • Branch visit: You can deposit cash, cheque, or transfer funds from your existing HDFC Bank account.

6. Receive Confirmation:

  • Once your FD account is opened and funded, you will receive confirmation through email or physical documents depending on your chosen method.

Tax on HDFC Bank Fixed Deposit

The taxation of interest earned on HDFC Bank Fixed Deposits (FDs) depends on two main factors:

1. Your Income Tax Slab: India operates a progressive tax system, meaning higher income earners pay a higher percentage of their income in taxes. Your tax slab determines the rate at which you will be taxed on your FD interest.

2. Interest Amount: The Indian government has a Tax Deducted at Source (TDS) rule for FD interest.

Here's a breakdown of how taxes apply:

Scenario 1: Interest Income Below Threshold

  • If your total FD interest income from all banks in a financial year is below ₹40,000 (₹50,000 for senior citizens), no TDS will be deducted.
  • You will need to declare this income while filing your income tax return and pay tax based on your applicable tax slab.

Scenario 2: Interest Income Above Threshold

  • If your total FD interest income from all banks in a financial year exceeds ₹40,000 (₹50,000 for senior citizens), TDS will be deducted at 10% by the bank.
  • This deduction is regardless of your tax slab.
  • While filing your IT return, you can:
    • Claim a refund if the TDS deducted is higher than your actual tax liability based on your income slab.
    • Pay additional tax if the TDS deducted is lower than your actual tax liability.

Reducing/Avoiding TDS:

  • You can submit Form 15G (for individuals below 60 years) or Form 15H (for senior citizens) to the bank if your annual income is below the taxable limit. This will instruct the bank not to deduct TDS.
  • Note: Submitting these forms requires proper verification and documentation.

Tax Saving FDs:

  • HDFC Bank offers a 5-year Tax Saving Fixed Deposit (FD) scheme. It allows you to claim tax deductions of up to ₹1.5 lakh under Section 80C of the Income Tax Act.
  • The interest earned on this specific scheme is not taxed, offering an additional benefit.

HDFC Fixed Deposit - Premature Withdrawal

If you withdraw your fixed deposit before maturity, a penalty fee of 1% will apply. Additionally, the interest earned will be calculated based on the lower of two rates:

  • The base rate for the original deposit term.
  • The base rate for the period the deposit remained with the bank.

This applies to all deposits below ₹1 crore on the booking date. For deposits above ₹5 crore, the base rate used will be ₹5 crore on the booking date.

Exceptions: There's no penalty for withdrawals made between 7 and 14 days after booking the deposit.

How to Calculate HDFC FD Interest Rates

HDFC Bank doesn't provide a specific formula for calculating interest rates on their website. However, they do offer an FD calculator which allows you to easily estimate the interest you can earn based on your chosen parameters.

Here's how to use the calculator:

1. Enter the principal amount: This is the initial amount you plan to invest in your FD.

2. Select the tenure: Choose the desired time period for your deposit, ranging from days to years.

3. Choose the interest rate: You can either select a pre-defined interest rate based on your chosen tenure or enter a specific rate if you have one.

4. Click "Calculate": The calculator will display the estimated maturity amount, which includes the principal amount and the interest earned.

FAQs On HDFC Bank FD Interest Rates:

1. Can I change the existing tenure of the HDFC Bank Fixed Deposit account?

No, you cannot change the existing tenure of an HDFC Bank Fixed Deposit account.

2. What is the highest HDFC Bank FD interest rate?

The highest HDFC Bank FD interest rate is 7.75% p.a. for senior citizens on a 5-year Tax Saving FD.

3. Are there any preferential HDFC Bank FD interest rates for senior citizens?

Yes, HDFC Bank offers senior citizens an additional 0.25% interest rate on specific Fixed Deposit schemes.

4. Who can invest in HDFC fixed deposits?

Anyone, including Indian residents, Non-Resident Indians (NRIs) and persons of Indian Origin (PIOs) can invest in HDFC fixed deposits.

5. What is the minimum investment for an HDFC FD?

The minimum investment for an HDFC FD depends on the scheme, but it generally starts from Rs. 1,000.

6. What is the interest of 1 lakh in HDFC?

The interest earned on Rs. 1 lakh in an HDFC FD will be calculated on the basis of 7% interest rate for 3 years of investment.

7. Can I withdraw from my HDFC FD account ahead of the maturity date?

Yes, you can withdraw from your HDFC FD account prematurely, but you may incur a penalty and receive a lower interest rate.

Latest & Update Hdfc Bank Fixed Deposit Rate News

HDFC Bank Launches Special FDs With Higher Interest Rate For Limited Period 29 May 2023

HDFC Bank has launched two special fixed deposits offering higher interest rates. It will be available for a limited period according to the lender's website. As per the website of HDFC Bank, the bank has come up with two special edition fixed deposi...

Read more

HDFC Bank has launched two special fixed deposits offering higher interest rates. It will be available for a limited period according to the lender's website. As per the website of HDFC Bank, the bank has come up with two special edition fixed deposits. The interest rates on the special FDs of tenures 35 months and 55 months are 7.20% and 7.25%. For senior citizens, the interest rate is 0.50% higher. So, the special edition FD for senior citizens with a tenure of 35 months offers an interest rate of 7.70% and 7.75% on a tenure of 55 months. The latest interest rates given by HDFC Bank are in the range of 3% to 7.25% for general customers on deposits maturing in 7 days to 10 years. Senior citizens will earn an interest rate of 3.5% to 7.75% on these deposits. These rates are effective from 29 May 2023.

HDFC Bank increased interest rates on recurring deposits (RDs) across tenors27 Oct 2022

HDFC Bank increased the interest rates on fixed and recurring deposits. According to the bank's official website, the new rates will take effect on October 26, 2022. The bank last hiked its interest rates on 11th October. Fixed deposit interest rates...

Read more

HDFC Bank increased the interest rates on fixed and recurring deposits. According to the bank's official website, the new rates will take effect on October 26, 2022. The bank last hiked its interest rates on 11th October. Fixed deposit interest rates have increased by up to 50 basis points (bps) at HDFC Bank, and recurring deposit interest rates have increased by up to 45 bps for all tenors. Following today's increase, HDFC Bank is now providing general customers with interest rates on deposits maturing in 7 days to 10 years that range from 3% to 6.20%.

HDFC Introduces Green and Sustainable Fixed Deposits 14 Sep 2021

If you’re an eco-conscious customer, then investing in the Green and Sustainable Deposits from HDFC Bank helps you build your savings while contributing to the environment. HDFC Bank has pledged that the amount from these fixed deposits will be used ...

Read more

If you’re an eco-conscious customer, then investing in the Green and Sustainable Deposits from HDFC Bank helps you build your savings while contributing to the environment. HDFC Bank has pledged that the amount from these fixed deposits will be used for funding sustainable housing credit solutions and other services. All Indians (residents and NRIs) are eligible to invest in this FD. The tenure ranges from 36 to 120 months, with interest rates at 6.55% per annum.

Hdfc Bank Fixed Deposit Rate - Customer Reviews

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CreditMantri Finserv Private Limited

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IRDAI Registration Number

CA0665

Valid Till

01-Aug-2025

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