Savings are a crucial component of financial planning, and fixed deposits (FDs) have long been a well-liked option. FDs offer a secure and dependable investment alternative, whether you’re trying to save for a short-term or long-term objective. With merely a 5,000 rupee minimum deposit requirement for FDs, HDFC Bank is more accessible to a larger spectrum of clients. The guaranteed earnings that an HDFC Bank FD Rates provides, despite market conditions, are one of its main benefits. Customers may be sure that their money is growing steadily with HDFC Bank’s competitive FD interest rates.
Table of Contents
- HDFC FD Interest Rates
- HDFC Interest Rates for Domestic / NRO / NRE Deposits of Below INR 2 CRORE
- HDFC Interest Rates for Domestic / NRO / NRE Deposits of INR 2 CRORE and Above To Below INR 5 CRORE
- HDFC Interest Rates for Domestic / NRO / NRE Deposits of INR 5 CRORE and Above
- HDFC Interest Rates for Non-Withdrawal Domestic Deposit of 2 CRORE and Above
- Types of Deposits in HDFC
- Eligibility and Documents Required to Open HDFC Bank Fixed Deposit
- How To Apply for HDFC Fixed Deposit?
- Tax on HDFC Bank Fixed Deposit
- Loan Against HDFC Fixed Deposit
- Penalty on Premature Closure of HDFC FD
- FAQs on HDFC Bank FD Rates
- Conclusion
HDFC FD Interest Rates
The HDFC Bank’s FDs are a great addition to your investment portfolio because they provide extra features including sweep-in and overdraft facilities. Beyond profits that are assured, HDFC FD Interest Rates has further advantages. By having sweep-in facilities, you can maximise your returns by having any extra money from your savings account automatically transferred to your FD account. Furthermore, HDFC Bank offers overdraft options secured by your FD, giving you instant access to cash in case of an emergency.
HDFC Interest Rates for Domestic / NRO / NRE Deposits of Below INR 2 CRORE
The HDFC FD Interest Rates 2023 for Domestic/NRO/NRE deposits of below INR 2 Cr is given in the tabulated form below:
| Tenor Bucket | < 2 CRORE | |
| Interest Rate (Per Annum) | **Senior Citizen Rates (Per Annum) | |
| 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 mnths 1 days <= 9 mnths | 5.75% | 6.25% |
| 9 mnths 1 day to < 1 year | 6.00% | 6.50% |
| 1 year to < 15 months | 6.60% | 7.10% |
| 15 months to < 18 months | 7.10% | 7.60% |
| 18 months to < 21 months | 7.00% | 7.50% |
| 21 months – 2 years | 7.00% | 7.50% |
| 2 years 1 day – 3 years | 7.00% | 7.50% |
| 3 year 1 day to – 5 years | 7.00% | 7.50% |
| 5 year 1 day – 10 years | 7.00% | 7.75%* |
Disclaimer:
Customers need to note that the Interest rates are subject to change from time to time. The applicable interest rate will be provided as of the day or time the bank receives the funds.
HDFC Interest Rates for Domestic / NRO / NRE Deposits of INR 2 CRORE and Above To Below INR 5 CRORE
We have tabulated the HDFC FD Rates for Domestic / NRO / NRE Deposits of INR 2 Cr and Above To Below INR 5 Cr down here for you. Have a look!
| Tenor Bucket | >=2 CRORE to < 5 CRORE | |
| Interest Rate (Per Annum) | **Senior Citizen Rates (Per Annum) | |
| 7 – 14 days | 4.75% | 5.25% |
| 15 – 29 days | 4.75% | 5.25% |
| 30 – 45 days | 5.50% | 6.00% |
| 46 – 60 days | 5.75% | 6.25% |
| 61 – 89 days | 6.00% | 6.50% |
| 90 days <= 6 months | 6.50% | 7.00% |
| 6 mnths 1 day <=9mnths | 6.65% | 7.15% |
| 9 mnths 1 day to < 1 Year | 6.75% | 7.25% |
| 1 Year to < 15 months | 7.25% | 7.75% |
| 15 months to < 18 months | 7.15% | 7.65% |
| 18 months to < 21 months | 7.15% | 7.65% |
| 21 months to 2 years | 7.15% | 7.65% |
| 2 year 1 day to 3 years | 7.00% | 7.50% |
| 3 year 1 day to 5 years | 7.00% | 7.50% |
| 5 year 1 day to 10 years | 7.00% | 7.75%* |
Disclaimer:
Customers need to keep in mind that Interest rates are subject to change with the change in market conditions. You can check the updated interest rates on our website or on the official website of HDFC.
HDFC Interest Rates for Domestic / NRO / NRE Deposits of INR 5 CRORE and Above
HDFC FD Interest Rates 2023 For Senior Citizens are a type of financial product provided by HDFC Bank that offer higher interest rates on Fixed Deposits for senior citizens.
| RATES – DOMESTIC/NRE/NRO TERM DEPOSITS FOR AMOUNTS EQUAL & MORE THAN RS. 5 Cr (Withdrawable) | ||||||||||
| Applicable for 10th Mar, 2023 | ||||||||||
| Period | 5 CRORE to < 5.25 CRORE | >=5.25 CRORE to < 5.50 CRORE | >=5.50 CRORE to < 24.75 CRORE | >=24.75 CRORE to < 25 CRORE | >= 25 CRORE to < 50 CRORE | >= 50 CRORE to < 100 CRORE | >= 100 CRORE to < 150 CRORE | >= 150 CRORE to < 200 CRORE | >= 200 CRORE to < 500 CRORE | >= 500 CRORE |
| 7 – 14 days | 4.75% | 4.75% | 4.75% | 4.75% | 4.75% | 4.75% | 4.75% | 4.75% | 4.75% | 4.75% |
| 15-29 days | 4.75% | 4.75% | 4.75% | 4.75% | 4.75% | 4.75% | 4.75% | 4.75% | 4.75% | 4.75% |
| 30-45 days | 5.50% | 4.75% | 5.50% | 4.75% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% |
| 46-60 days | 5.75% | 4.75% | 5.75% | 4.75% | 5.75% | 5.75% | 5.75% | 5.75% | 5.75% | 5.75% |
| 61-89 days | 6.00% | 4.75% | 6.00% | 4.75% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% |
| 90 days <= 6 months | 6.50% | 4.75% | 6.50% | 4.75% | 6.75% | 6.75% | 6.75% | 6.75% | 6.75% | 6.75% |
| 6 months 1 day <=9months | 6.65% | 4.75% | 6.65% | 4.75% | 6.90% | 6.90% | 6.90% | 6.90% | 6.90% | 6.90% |
| 9 months 1 day to < 1 Year | 6.75% | 5.00% | 6.75% | 5.00% | 7.00% | 7.00% | 7.00% | 7.00% | 7.00% | 7.00% |
| 1 Year to < 15 months | 7.25% | 5.00% | 7.25% | 5.00% | 7.30% | 7.30% | 7.30% | 7.30% | 7.30% | 7.30% |
| 15 months to < 18 months | 7.15% | 5.00% | 7.15% | 5.00% | 7.25% | 7.25% | 7.25% | 7.25% | 7.25% | 7.25% |
| 18 months to < 21 months | 7.15% | 5.00% | 7.15% | 5.00% | 7.25% | 7.25% | 7.25% | 7.25% | 7.25% | 7.25% |
| 21 months to 2 years | 7.15% | 5.00% | 7.15% | 5.00% | 7.25% | 7.25% | 7.25% | 7.25% | 7.25% | 7.25% |
| 2 year 1 day to 3 years | 7.00% | 5.00% | 7.00% | 5.00% | 7.00% | 7.00% | 7.00% | 7.00% | 7.00% | 7.00% |
| 3 year 1 day to 5 years | 7.00% | 5.00% | 7.00% | 5.00% | 7.00% | 7.00% | 7.00% | 7.00% | 7.00% | 7.00% |
| 5 year 1 day to 10 years | 7.00% | 5.00% | 7.00% | 5.00% | 7.00% | 7.00% | 7.00% | 7.00% | 7.00% | 7.00% |
Disclaimer:
The table above represents the updated interest rates. You can follow up our website for latest interest rates as upgraded by the bank.
HDFC Interest Rates for Non-Withdrawal Domestic Deposit of 2 CRORE and Above
The below table depicts the HDFC Interest Rates for Non-Withdrawal Domestic Deposit of 2 Cr and Above.
| RATES – NON WITHDRAWABLE DOMESTIC/NRE/NRO TERM DEPOSITS FOR AMOUNTS EQUAL & MORE THAN RS. 2 Cr | |||||||||||
| Applicable for 10th Mar, 2023 | |||||||||||
| Period | 2 CRORE to < 5 CRORE | 5 CRORE < 5.25 CRORE | >=5.25 CRORE < 5.50 CRORE | >=5.50 CRORE < 24.75 CRORE | >=24.75 CRORE to <25 CRORE | >= 25 CRORE to < 50 CRORE | >= 50 CRORE to < 100 CRORE | >= 100 CRORE to < 150 CRORE | >= 150 CRORE to < 200 CRORE | >= 200 CRORE to < 500 CRORE | >= 500 CRORE |
| 90 days <= 6 months | NA | 6.85% | 6.85% | 6.85% | 6.85% | 7.00% | 7.00% | 7.00% | 7.00% | 7.00% | 7.00% |
| 6 months 1 day <=9months | NA | 7.00% | 7.00% | 7.00% | 7.00% | 7.25% | 7.25% | 7.25% | 7.25% | 7.25% | 7.25% |
| 9 months 1 day to < 1 Year | NA | 7.15% | 7.15% | 7.15% | 7.15% | 7.50% | 7.50% | 7.50% | 7.50% | 7.50% | 7.50% |
| 1 Year to < 15 months | 7.35% | 7.35% | 7.35% | 7.35% | 7.35% | 7.75% | 7.75% | 7.75% | 7.75% | 7.75% | 7.75% |
| 15 months to < 18 months | 7.35% | 7.35% | 7.35% | 7.35% | 7.35% | 7.45% | 7.45% | 7.45% | 7.45% | 7.45% | 7.45% |
| 18 months to < 21 months | 7.35% | 7.35% | 7.35% | 7.35% | 7.35% | 7.45% | 7.45% | 7.45% | 7.45% | 7.45% | 7.45% |
| 21 months to 2 years | 7.35% | 7.35% | 7.35% | 7.35% | 7.35% | 7.45% | 7.45% | 7.45% | 7.45% | 7.45% | 7.45% |
| 2 year 1 day to 3 years | 7.30% | 7.30% | 7.30% | 7.30% | 7.30% | 7.30% | 7.30% | 7.30% | 7.30% | 7.30% | 7.30% |
| 3 year 1 day to 5 years | 7.25% | 7.25% | 7.25% | 7.25% | 7.25% | 7.25% | 7.25% | 7.25% | 7.25% | 7.25% | 7.25% |
| 5 year 1 day to 10 years | 7.25% | 7.25% | 7.25% | 7.25% | 7.25% | 7.25% | 7.25% | 7.25% | 7.25% | 7.25% | 7.25% |
Disclaimer:
The interest rates often change with respect to market conditions. For latest interest rates offered by HDFC, you can check the official web portal of HDFC.
Types of Deposits in HDFC
With terms ranging from seven days to ten years, and HDFC Bank FD Interest Rates to match, HDFC Bank offers fixed deposit accounts with a variety of options. To meet a range of requirements and preferences, HDFC Bank provides a selection of deposit accounts. The most well-liked deposit types that HDFC Bank provides are listed below.
Regular Fixed Deposits
For people who want to invest their money and receive assured returns while reducing risk, HDFC Bank’s regular fixed deposits are a well-liked choice. Customers who prefer convenience over risk can invest in Regular Fixed Deposits from HDFC Bank, which come with advantages like tax deduction, nomination capability, and early withdrawal.
Recurring Deposit
Recurring Deposit (RD) accounts from HDFC Bank let clients save a set sum of money each month for a defined period of time while earning interest on it. The minimum monthly deposit amount is between Rs. 100 and Rs. 10,000, and the tenure varies from 6 months to 10 years. At the end of the term, HDFC Bank RDs can be set up for automatic renewal.
HDFC Bank Health Cover FD
In addition to offering consumers enticing returns on their investments, HDFC Bank Health Cover Fixed Deposits also give customers access to health insurance for themselves and their families. Customers of HDFC Bank Health Insurance Fixed Deposit have the freedom to select a period of their own, ranging from 1 year to 10 years. Also, consumers receive up to Rs. 4 lakh in annual health insurance coverage.
Tax-saving Fixed Deposit
Investors wishing to reduce their tax burden and obtain assured returns on their funds frequently choose the five-year tax-saving fixed deposit as an investment choice. This fixed deposit programme, which is provided by a number of banks, including HDFC Bank, is intended to assist people in reducing their tax obligations under Section 80C of the Income Tax Act. With this sort of FD, investors can deposit up to Rs. 1.5 lakh annually and receive tax benefits on the amount invested.
FCNR Deposits
FCNR (Foreign Currency Non-Resident) deposits are fixed deposits held by non-resident Indians (NRIs) in India that are in foreign currency. Because they offer greater interest rates than accounts in their home country and give currency protection, FCNR deposits are a popular investment choice for NRIs. In India, interest from FCNR deposits is not subject to taxes. Many foreign currencies, including USD, GBP, EUR, CAD, AUD, and JPY, can be used to hold FCNR deposits. If you’re an NRI looking for a secure and profitable investment opportunity, HDFC Bank’s FCNR deposits with its competitive HDFC Fixed Deposit Interest Rates may be the ideal option for you.
Overdraft Against Fixed Deposits
A sort of credit option known as an overdraft against fixed deposits (FDs) enables people to borrow money against their fixed deposits maintained with banks. Through this facility, the bank provides the account holder with a loan amount equal to a predetermined portion of the fixed deposit’s value. Because the fixed deposit serves as security for the loan, the interest rate on overdrafts against FDs is typically lower than that of other unsecured loan types. When the fixed deposit expires, the borrower has the option of paying off the overdraft in installments or entirely at once.
Non-withdrawable Deposits
Non-withdrawable HDFC Deposits are sometimes referred to as Non-callable or Irredeemable Deposits. These deposits cannot be withdrawn before the maturity time, which is normally 7 years. Due to the extended lock-in term, HDFC Bank FD Interest Rates 2023 on HDFC Non-withdrawable Deposits are often greater than those on standard Fixed Deposits. For the duration of the deposit, the interest rate is fixed at the moment of deposit and does not fluctuate. According to the current tax laws, TDS (Tax Deducted at Source) is applied to the interest paid on these deposits, which is taxable.
Eligibility and Documents Required to Open HDFC Bank Fixed Deposit
To open a Fixed Deposit (FD) account with HDFC Bank, the following eligibility criteria and documents are required:
Eligibility Criteria
- Resident Indian individuals
- Hindu Undivided Families (HUFs)
- Sole proprietorships
- Partnership firms
- Limited companies
- Trusts
- Associations
Documents Required
The below-mentioned documents are required to apply for Fixed Deposit in HDFC Bank.
- Identity Proof: Aadhaar card, PAN card, passport, driving license, voter ID card, etc.
- Address Proof: Aadhaar card, passport, utility bills (not more than 3 months old), bank statement, etc.
- Photographs: Passport-sized photographs.
How To Apply for HDFC Fixed Deposit?
There are multiple ways using which you can apply for a HDFC fixed deposit account. Also, you can find the HDFC Fixed Deposit Rates online from this page or from the official website.
Open HDFC Fixed Deposit Online
To open an HDFC Fixed Deposit (FD) online, you can follow these steps:
- Log in to your HDFC Bank net banking account or mobile banking app.
- Click on the “TRANSACT” option and select “Fixed Deposit”.
- Choose the type of FD account you want to open, the deposit amount, and the tenure.
- Fill in your personal and nominee details. You may also need to upload scanned copies of your ID proof, address proof, and photograph.
- Review the details of your application and confirm the deposit amount and tenure.
- Confirm the details and authorize the transfer of funds from your HDFC Bank savings or current account to the FD account.
- Once the funds are transferred, HDFC Bank will issue a Fixed Deposit receipt containing all the details of the account, including the deposit amount, tenure, interest rate, and maturity date
Open HDFC Fixed Deposit by Visiting Nearest Branch
To open an HDFC Fixed Deposit (FD) account by visiting the nearest branch, you can follow these steps. You can also easily check the HDFC Bank Fixed Deposit Rates from our website.
- Locate the nearest HDFC Bank branch using the branch locator tool on the HDFC Bank website or by calling HDFC Bank customer care.
- Visit the branch and fill out the account opening form for a Fixed Deposit. You will need to provide your personal details, such as name, address, contact information, PAN card number, etc.
- Choose the type of FD account you want to open, the deposit amount, and the tenure.
- Submit the necessary documents along with the account opening form. The documents required may vary depending on the type of account and the deposit amount.
- Once your application is approved, transfer the funds to the FD account through net banking, mobile banking, or by providing a cheque.
- HDFC Bank will issue a Fixed Deposit receipt containing all the details of the account, including the deposit amount, tenure, interest rate, and maturity date.
Open HDFC FD Without HDFC Savings Account
Customers can also open an FD account without having a savings account in the HDFC bank. To do so, they need to submit certain documents like photo proof, address proof, etc to complete the KYC process. You will need to submit these documents along with the application form that is appropriately filled and signed.
Tax on HDFC Bank Fixed Deposit
The interest that the depositor earns on their HDFC Bank Fixed Deposit (FD) is subject to tax. The Income Tax Act of 1961 applies to the taxation of interest generated on FDs, which is included in the depositor’s taxable income. The depositor’s income bracket and the corresponding tax rate determine whether or not interest generated on FDs is subject to taxation. The interest on an HDFC Bank FD is applied to the resident’s gross income and taxed at the appropriate rate.
According to Section 80TTB of the Income Tax Act, senior citizens (60 years of age and older) are excused from paying taxes on interest received on HDFC Bank FDs up to Rs. 50,000 per year. Any interest that exceeds Rs. 50,000 is subject to taxation. So, the HDFC Senior Citizen FD Rates are much attractive than for others. If the interest on an FD is more than Rs. 40,000 per year, HDFC Bank deducts TDS (Tax Deducted at Source) from the interest. The current TDS rate is 10% with a furnished PAN and 20% without a furnished PAN.
Investors can select the cumulative option, in which interest is collected and reinvested before being paid out at maturity, to reduce their tax obligations on HDFC Bank FDs. Investors can do this to delay paying annual interest taxes and instead pay taxes only when the investment reaches maturity.
Loan Against HDFC Fixed Deposit
Loan Against HDFC Fixed Deposits are a type of financial product provided by HDFC Bank that enable consumers to obtain credit by pledging their Fixed Deposits to the bank. Subject to a number of limitations and circumstances, the loan amount may not exceed 90% of the FD amount. The loan is a desirable alternative for clients who require immediate access to funds because the interest rate is often lower than that of personal loans. Borrowers must make sure that the loan is repaid on time, though, as failing to do so could result in the bank using the FD to recover the debt, which would cause the FD to be prematurely withdrawn and lose interest.
Penalty on Premature Closure of HDFC FD
Fixed Deposit (FD) accounts at HDFC Bank are subject to a penalty for early closure that varies based on the FD’s tenure and the current interest rate. The fee is imposed in order to make up for the interest loss that the bank suffers as a result of the FD’s early withdrawal. According to the FD’s term and the remaining maturity time, the penalty changes. Moreover, the penalty is usually greater for long-term FDs than for short-term FDs. Partial FD withdrawals may also be subject to a fee from HDFC Bank. If a depositor’s death causes the account to close prematurely, the penalty may be lowered or even eliminated.
Prior to paying the depositor their remaining balance, the penalty amount is deducted from the FD’s principle amount. You can find out the penalty amount by yourself using the HDFC FD Calculator. The nearby HDFC Bank branch or the bank’s customer service helpline can provide you with the precise penalty amount. It is advised to carefully select the FD tenure and make sure that the funds are not needed before the maturity date in order to avoid paying a premature closure penalty.
FAQs on HDFC Bank FD Rates
The FAQs given here can help you with all the doubts on FD Rates of HDFC Bank.
How to break FD in HDFC?
To break an FD with HDFC Bank, go to the local branch and complete the FD Premature Withdrawal Form. Based on the remaining duration of the FD and the current interest rates, the bank will determine the penalty amount. The depositor’s account will be credited with the remaining money once the penalty has been subtracted from the FD’s principal.
How to check FD in HDFC Netbanking?
You must sign in to your HDFC Bank net banking account using your customer ID and password in order to check your HDFC Fixed Deposit Online through net banking. You may view the amount of your fixed deposit and the interest earned by visiting the Fixed Deposits section.
How to withdraw Fixed Deposit in HDFC Bank?
You must visit the closest HDFC Bank branch with the original FD receipt and a valid identity verification document in order to withdraw a Fixed Deposit (FD) from HDFC Bank. The concerned authority must receive the completed FD withdrawal form, which you must submit to them. They will make the necessary calculations and credit the balance to your savings account.
How many Fixed Deposits can be opened in HDFC Bank?
The number of fixed deposits (FDs) that may be opened with HDFC Bank is unlimited. According on your investment objectives and financial requirements, you can open numerous FD accounts with HDFC Bank, each with a different deposit size, term, and interest rate.
What is a tax saver Fixed Deposit in HDFC?
The HDFC Bank’s Tax Saver Fixed Deposit is a form of fixed deposit that enables people to reduce their tax liability under Section 80C of the Income Tax Act of 1961. It is a long-term investment choice with a five-year money lock-in period. A Tax Saver Fixed Deposit account with HDFC Bank must be opened with a minimum deposit of Rs. 100, and a maximum investment of Rs. 1.5 lakhs each financial year is permitted. You can check the HDFC Bank Fixed Deposit Interest Rates for tax saver FD here on this page.
Can we withdraw FD before maturity in HDFC?
In HDFC Bank, a fixed deposit can be withdrawn before its maturity, however there might be a penalty. Premature withdrawal of fixed deposits is subject to a fee charged by HDFC Bank, the amount of which is determined on the kind of deposit and the remaining term.
Conclusion
In conclusion, investors wishing to increase their funds with a guaranteed return have a competitive option with HDFC Bank FD Rates 2023. Investors can select the duration and interest rate that best suits their financial objectives and level of risk tolerance thanks to the bank’s variety of offerings. It’s crucial to remember that FDs might not offer the same level of liquidity as other investment options, so investors should think about diversifying their entire portfolio. You can check out the most recent information on our website Moneycompass.net if you’re interested in learning about the FD interest rates provided by different financial institutions. We will be happy to assist you.