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DHFL FD Interest Rates

DHFL FD Rates 2020

Last Updated 20th Dec 2019

DHFL is one of most reliable FD providers amongst a number of FD providers in the market. DHFL FD offers a number of benefits to investors such as higher returns, flexible tenure, lower minimum deposit limit, and loan against FD facility, among others. When it comes to the FD interest rate, the highest rate offered on DHFL FD is 9.25%. Latest DHFL FD interest rate for senior citizens, on the other hand ranges between 9.00% to 9.75%.

Tenure FD interest rates Senior Citizen FD interest rates
12 months 8.50% 9.00%
14 months 8.55% 9.05%
24 months 8.75% 9.25%
36 months 9.25% 9.75%
40 months 9.25% 9.75%

DHFL Fixed Deposit (FD)

DHFL FDs are one the best investment option available for depositors who are looking to invest in a fixed income instrument and earn higher returns than savings account. Key Features of DHFL Fixed Deposit are:

  • Deposit Amount: DHFL FD can be opened with an amount as a low ₹ 2,000 to up to .
  • FD Tenure: Ranges between 12 months to 120 months.
  • Interest Rate Range: 8.50% p.a. to 9.25% p.a.
  • Senior Citizens FD Rate: 9.00% to 9.75% p.a.
  • Highest Interest Rate: As per today’s rate, DHFL’s highest interest rate on FD is 9.25% offered for a tenure of 120 months.
  • Safety of SBI Deposits: DHFL is a HFC and hence, its deposits are not covered under insurance. However, deposits of HFC are rated by rating agencies, which give a good understanding of your savings. AAA or AA rated deposits are considered have the highest safety
  • Loan against FD: As per the policy of DHFL. To be confirmed at the time of opening a FD.
  • Auto Renewal Facility: Available
  • Nomination Facility: Available
  • Popular FD Schemes: Aashray Deposit Plus Individuals, Aashray Deposit Plus for Trusts and Institutions, Swayamsidha Deposit For Women, Aashray Deposit Plus , Wealth2health Fixed Deposit, Regular Fixed Deposits

DHFL Best FD Plan

We need to compare tenure wise latest FD rate of DHFL to choose the tenure at which it provides the highest interest rate. DHFL FD rates are best for the deposits with a tenure of 36 months to 120 months, wherein the current FD rate of interest is 9.25% p.a

If one is looking to invest in long term deposits, DHFL FD interest rates with tenure of 5 years to are a good choice with interest rates on deposits with a tenure of at 9.25%. Senior citizens are offered special rates from bank with highest deposit rates of 9.75% p.a. on long term FDs.

Fixed Deposits of DHFL have a higher interest rate compared to their saving deposits. Benefits of opening a FD account in DHFL are:

  • Interest on deposit is paid only at the time of the maturity
  • Nomination facility available
  • Extra interest of 0.25% to 0.50% payable to the senior citizens
  • Availability of auto renewal facility on the deposit
  • Earn higher returns on the money deposited

Documents required to open Fixed Deposit Account in DHFL

  • PAN Card
  • 2 Photographs

FD in DHFL – Premature Withdrawal

Premature closure of Term Deposit with DHFL is along with the lower interest rate of 3% for deposits upto 12 months and 2% on deposits held for more than 12 months than the contracted rate. The penal provisions for premature closure on DHFL FD are subject to change from time to time and may also vary with deposit schemes.

Loan against Fixed Deposit DHFL

DHFL offers loan up to 75% against its own deposit. Note that DHFL will not give you loan against FD of any other bank. DHFL offers Loan against FD at the rate of 9.5% to 10.25%

Illustration - Mr. Rahul has opened a fixed deposit of ₹ 1,00,000 for 2 years in DHFL. The borrower later decided to take loan against his FD. The bank has approved a credit limit of 75% against his FD at 10% interest rate. Now, if the borrower draws ₹ 75,000 on the first of the month and then repays the money on the 1st of next month, then he is supposed to pay the interest on ₹ 75,000 availed for 1 month only. The amount he repays after 1 month is ₹ 75,000. So, the interest charged on the loan taken is ₹ 0.

FD Account Opening Process at DHFL

To open a Fixed Deposit account in DHFL, you can visit the official website and login to your account. Choose Fixed Deposit option from the menu and select the Type of FD you want to open and proceed. After this, you have to fill the deposit amount and select ‘Senior Citizen’ option if you are above 60. You have to choose the tenure of deposit and interest payout frequency. Click on Submit to open the DHFL FD after reading the terms and conditions.

Nomination Facility on DHFL FD

DHFL offers nomination facility on Fixed Deposit to claim the amount in case of the death of the depositor. An individual, single or joint account holders can appoint a nominee. Only one person can be appointed as nominee. You can fill nominee details while opening a DHFL fixed deposit. Nominee has to submit his/her identification proof at the time of claim.

DHFL Fixed Deposit Scheme

Aashray Deposit Plus Individuals

Description:

  • This deposit scheme?offers attractive interest rates and high annual yields to individual investors.
  • Loan facility upto 75 per cent is available on the deposit
  • Nomination facility is available
  • Safe and secure earnings on your deposit
  • Extra interest of 0.25 per cent payable to the senior citizens
  • Availability of ECS facility for interest payment

Who is eligible?

  • Resident Indians, private or public limited company, hindu undivided family, trust and partnership firm
Aashray Deposit Plus for Trusts and Institutions

Description:

  • This deposit scheme is exclusively designed for Trusts, Societies, Clubs and Associations, offering high interest rate on the deposit.
  • Loan facility upto 75 per cent is available on the deposit
  • Nomination facility is available
  • Availability of ECS facility for interest payment

Who is eligible?

  • Resident Indians, private or public limited company, hindu undivided family, trust and partnership firm
Swayamsidha Deposit For Women

Description:

  • This fixed deposit scheme is specially designed for Indian Women offering a higher rate of interest up to 7.85 per cent for a period of 18 months. An additional rate of 0.25 per cent can be availed by privileged women customers under this scheme.
  • Loan facility upto 75 per cent is available on the deposit
  • Nomination facility is available
  • Additional interest of 0.25 per cent for women privilege customers
  • Avail tax exemption of Rs. 5,000 on the interest earned on the deposit under this scheme
  • Avail free accidental death insurance cover under this scheme for Rs. 1 lakh

Who is eligible?

  • Resident Indians, private or public limited company, hindu undivided family, trust and partnership firm
Aashray Deposit Plus

Description:

  • A fixed deposit scheme?offering a attractive rate of interest along with higher annual yields to the individual investors facilitating double fold growth to their deposited money within a tenure of 107 months.
  • Loan facility upto 75 per cent is available on the deposit
  • Nomination facility is available
  • Safe and secure earnings on your deposit
  • Availability of ECS facility for interest payment

Who is eligible?

  • Resident Indians, private or public limited company, hindu undivided family, trust and partnership firm
Wealth2health Fixed Deposit

Description:

  • It is a unique fixed deposit that offers a host of health related benefits to the customer apart from good returns.
  • Loan facility upto 75 per cent is available on the deposit
  • Nomination facility is available
  • Additional interest of 0.25 per cent for senior citizens
  • This deposit scheme comes along with a deposit card, which is linked to the underlying fixed deposits?which can be used by customers to for making payment in hospitals
  • Availability of accidental insurance cover of upto Rs. 1 lakh

Who is eligible?

  • Resident Indians, private or public limited company, hindu undivided family, trust and partnership firm
Regular Fixed Deposits

Description:

  • This deposit scheme allows the depositor the flexibility to earn higher rate of I interest on their deposits.
  • Loan facility upto 75 per cent is available on the deposit
  • Nomination facility is available
  • Additional interest of 0.25 per cent for senior citizens
  • Earn attractive interest rate on your deposit

Who is eligible?

  • Resident Indians, private or public limited company, hindu undivided family, trust and partnership firm

FAQs

What is the highest FD rate for DHFL?

You can earn a maximum interest of 9.25% on DHFL fixed deposit.

Are there any special rates for senior citizens FD of DHFL?

Yes, senior citizens get a higher rate on their deposits compared to FD rates. The rate of regular FD are in the range of 8.50% to 9.25%. Compared to this, the rate of senior citizens FD are in the range of 9.00% to 9.75%.

Is there any minimum amount that I have to give for opening a Fixed Deposit with DHFL?

The minimum deposit amount required to book an FD with DHFL is ₹ 2,000.

Can I deposit additional amount in my FD account?

No, you cannot deposit any additional amount in your existing FD account as you are allowed to deposit only once at the time of opening the account. If you want to invest any additional amount in FD, you are required to open a new FD account.

Who is eligible for opening an FD account in DHFL?

All resident individuals, HUFs, NRIs, Firms including minors are eligible to open a fixed deposit account.

What documents are required to open an FD account in DHFL?

The documents required to open an FD account in DHFL includes PAN Card, 2 Photographs.

Is it possible to change the tenure of my existing fixed deposit account with DHFL?

No, it is not possible to alter the tenure selected for the fixed deposit account once the account is opened. However, you may close your existing fixed deposit account and can open a new account with a desired tenure of your choice.

What are the implications of opening an FD bank account without having PAN?

Following are the implications for the customers opening an FD account with DHFL without their PAN card

  • TDS will be deducted at the rate of 20% as against 10% under section 206AA
  • NO TDS credit from the Income Tax department
  • NO TDS certificate will be issued
  • Form 15G/H and other exemption certificates will be invalid and penal TDS will apply

What is the current interest rate on FD in DHFL?

Current interest for FD in DHFL ranges between 8.50% - 9.25%.

Can a customer open a FD account online in DHFL?

Yes, you can submit your application for opening a FD account on the website of DHFL. After submitting the application, you will be contacted by the bank’s representative for further process which includes filling an application process and submitting KYC documents.

In how many years FD will double in DHFL?

The interest rate on FD depends upon the tenure you choose. To know the time period in which your FD amount will get doubled, you need to divide 72 with the 9.25%. For DHFL FD the number of years in which your FD will get doubled is; 72/9.25 = 8


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