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HDFC FD Interest Rates 2021

HDFC FD Interest Rates

Last Updated 12th Jul 2021

When it comes to the FD interest rate, the highest rate offered on HDFC FD is 6.65%. Latest HDFC FD interest rate for senior citizens, on the other hand ranges between 6.00% to 6.50%.

Tenure FD interest rates Senior Citizen FD interest rates
33 months 6.20% 6.00%
66 months 6.60% 6.45%
99 months 6.65% 6.50%
Earn upto 6.95% on FD APPLY NOW

HDFC Fixed Deposit Features

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

  • Deposit Amount : HDFC FD can be opened with an amount as a low ₹ 5,000 to up to No Limit.
  • FD Tenure : Ranges between 33 months to 99 months.
  • Interest Rate Range : 6.20% p.a. to 6.65% p.a.
  • Senior Citizens FD Rate : 6.00% p.a to 6.50% p.a.
  • Highest Interest Rate : As per today’s rate, HDFC’s highest interest rate on FD is 6.65% offered for a tenure of 99 months.
  • Safety of HDFC Deposits : HDFC 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 HDFC. To be confirmed at the time of opening a FD.
  • Auto- Renewal Facility : Available
  • Nomination Facility : Available
  • Popular FD Schemes : Regular Fixed Deposit

HDFC FD Interest Rates Today

Interest rates on HDFC deposits are updated regularly by the Government of India. The following are updated HDFC FD interest rates 2021:

Tenure Interest Rate
33 months 6.20%
66 months 6.60%
99 months 6.65%

HDFC FD Rates for Senior Citizens

With an aim to attract senior citizens above the age of 60 years to invest in the fixed deposits, HDFC offers a higher interest rate to senior citizens than the general public. Listed below are the HDFC fixed deposits interest rates for senior citizens 2021:

Tenure Interest Rate for senior citizens
33 months 6.00%
66 months 6.45%
99 months 6.50%

Best FD Plan as per HDFC FD Rates

To invest in HDFC fixed deposit, you must compare HDFC Fixed Deposit Rates for varying tenures. HDFC FD Interest Rates 2021 are best for the deposits with a tenure of 99 months to 99 months, wherein the current HDFC Fixed Deposit Interest Rates is 6.65 p.a.

If you are looking to invest in short term deposits with HDFC, the interest rate of HDFC for FD ranges from 6.20% p.a. to 6.20% p.a. These deposits are known as short term deposits and are offered with a tenure of 7 days to less than 365 days. Short term HDFC Fixed Deposit Rates for senior citizens range from 6.00% to 6.00% p.a.

Below-mentioned is some of the benefits of opening an FD account in HDFC:

  • Interest on deposit is paid only at the time of the maturity
  • HDFC also offers a nomination facility on its fixed deposits.
  • Extra interest of 0.25% to 0.50% is payable to the senior citizens.
  • Availability of auto-renewal facility on the deposit.
  • Earn higher returns on the money deposited.

HDFC Fixed Deposit Rate Trends

HDFC has hiked interest rates on fixed deposits with effect from 29 Jun, 2021. The new HDFC highest FD rate is currently at 6.65%, which is an increase of 0.2% from the previous highest rate of 6.45%. Currently, HDFC FD rate for upto 1 year is 6.20% and 6.65% for 5 year FD.

Documents required to open Fixed Deposit Account in HDFC

  • PAN Card
  • Latest Photographs
  • Residence and Identity Proof
  • Age proof (Birth certificate, matriculation certificate, etc,)
  • Passport size photographs
  • Bank A/c details

HDFC Fixed Deposit Rates – Premature Withdrawal

You can close your HDFC FD account prematurely, however HDFC charges a penalty of 4% on deposits upto 6 months and 1% for deposits above 6 months for premature withdrawal. Also, The penal provisions for premature closure on HDFC FD are subject to change from time to time and may also vary with deposit schemes.

Loan against Fixed Deposit HDFC

HDFC offers loans up to 75% against its own deposit. Note that HDFC will not give you loan against FD of any other bank. HDFC offers Loan against FD at the rate of 7.2% to 7.65%

Illustration - Mr. Rahul has opened a fixed deposit of ₹ 1,00,000 for 2 years in HDFC. The borrower later decided to take a 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 available for 1 month only. The amount he repays after 1 month is ₹ 75,598. So, the interest charged on the loan taken is ₹ 598.

FD Account Opening Process at HDFC

To open an HDFC Fixed Deposit, follow the steps as mentioned below:

  • Visit the official website of HDFC and log in to your FD account.
  • From the menu, choose the Fixed Deposit option, the Type of FD you want to open and click on proceed.
  • Enter the deposit amount and select the ‘Senior Citizen’ option if you are above 60.
  • Now, choose the deposit tenure and interest payout frequency.
  • Finally, click on Submit to open the HDFC FD after reading the terms and conditions.

To open a Fixed Deposit account in HDFC, you can visit the official website and login to your account. Choose the 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 HDFC FD after reading the terms and conditions.

Nomination Facility on HDFC FD

HDFC also offers a nomination facility on Fixed Deposit to claim the amount in case of the depositor's death. You can file the details of only 1 nominee when opening an HDFC FD account. The nominee has to submit his/her identification proof at the time of claim.

HDFC Fixed Deposit Scheme

Regular Fixed Deposit

Description:

  • Under Regular Fixed Deposit, the depositor is allowed to make investment into the deposit to earn attractive and higher returns along with a flexibility and security.
  • Rated AAA by both CRISIL and ICRA
  • Attractive and assured returns
  • High return for senior citizens
  • Nomination facility is available
  • Facility of loan against deposit

Who is eligible?

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

FAQs

What is the highest fixed deposit interest rate for HDFC?

You can earn a maximum interest of 6.65% on HDFC fixed deposit.

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

Yes, senior citizens get a higher rate on their deposits compared to FD rates. The rate of regular FD are in the range of 6.20% to 6.65%. Compared to this, HDFC senior citizens FD are in the range of 6.00% to 6.50%.

What are the current HDFC FD interest rates 2021?

Current interest for FD in HDFC ranges between 6.20% - 6.65%.

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

The minimum deposit amount required to book an FD with HDFC is ₹ 5,000.

Did HDFC increase FD rates in 2021?

Yes, the highest rate on HDFC FD has been increased from 6.45% to 6.65%. The fixed deposit rates of HDFC are now in the range of 6.20% to 6.65% with effect from 29 Jun, 2021.

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

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 HDFC without their PAN card

  • Your 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

Can a customer open an FD account online in HDFC?

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

In how many years FD will double in HDFC?

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 the 6.65%. For HDFC FD the number of years in which your FD will get doubled is; 72/6.65 = 11

What is the interest of 1 lakh in the HDFC?

The interest on HDFC fixed deposit depends on the tenure of the FD for which it is deposited. Below mentioned is the HDFC FD interest rate 2021 across different tenures.

TenureInterest Rate
33 months 6.20%
66 months 6.60%
99 months 6.65%


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HDFC News - Jul 2021
  • 2021-06-30 : HDFC Bank has extended senior citizen special FD scheme till September 2021
    Amid the Covid pandemic last year, SBI, HDFC, ICICI and Bank of Baroda had introduced special FD schemes for senior citizens for the tenure of 5 years and more. These special fixed deposit (FD) schemes for senior citizens have been extended till 30 September 2021.
  • 2020-10-23 : HDFC Limited changed its fixed deposits rates
    HDFC has revised its fixed deposit rate with effect from 22 October 2020. The revised rate for 33 months stands at 5.85% and for 66 months it stands at 6.25%.In addition to this, for senior citizens, the rates vary by an additional 25 basis points.
  • 2020-05-21 : HDFC Bank introduced Senior Citizen Care FD
    HDFC launched Senior Citizen Care FD to assist the senior citizens amid reduced interest rate regime due to the economic crisis. The interest rate applicable to the fixed deposit will be 6.50 per cent which is 75 bps above the rate applicable to the general customers.
  • 2020-04-22 : HDFC Limited revised its fixed deposits rates
    HDFC has revised its fixed deposit rate with effect from 15 April 2020. The revised rate for both 33 months and 66 months stands at 7.30%.In addition to this, for senior citizens, the rates vary by an additional 25 basis points and stand at 7.55%.
  • 2019-12-30 : HDFC Limited cuts its fixed deposits rates
    HDFC has revised its fixed deposit rates on December 24, 2019. The revised rate for both 33 months and 66 months stands at 7.50%.For senior citizens the rates vary by an additional 25 basis points, and stand at 7.75%.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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