HDFC Interest Rates on FD, Oct 2016

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Last Updated 19th Oct 16

TenureInterest Rate
30 Days5.50%
45 Days 5.50%
60 Days 6.25%
90 Days 6.25%
120 Days 6.50%
6 Months 6.50%
9 Months 6.75%
12 Months 7.25%
18 Months 7.25%
2 Years 7.25%
3 Years 7.25%
4 Years 7.25%
5 Years 7.25%
7 Years 7.25%
10 Years 7.25%

HDFC FD Interest Rates

  • HDFC offers FD interest rates upto 7.25% per annum.
  • Interest on deposits with HDFC is typically compounded annually.
  • HDFC accepts deposits starting at Rs. 20000 for various tenures.
  • For senior citizens (age more than 60 years), HDFC offers 0.25% higher interest rate over and above rates mentioned below.

HDFC Fixed Deposit – Premature Withdrawl

  • You may break you FD and withdraw your money subject to minimum moratorium requirements.
  • However, in case of premature withdrawal, HDFC pays maximum interest of 4% on deposits kept for 3 to 6 months and 1% lower ROI on applicable rate for actual duration on deposits kept for more than 6 months.

Loan against HDFC FD

  • HDFC offers loan upto 75% against its own deposit. Note that you cannot obtain a loan against FD from another bank.
  • Applicable rate of interest on loan against FD is typically 0.5% to 2% over the fixed deposit rate.

HDFC Interest Rates in your city. How and where to apply?

  • Keep your KYC documents - PAN card, address proof and photo ready.
  • In case you already hold an account with HDFC, you don’t need to submit KYC documents again.
  • To know more or apply, contact any of the branches of HDFC in your city - Find HDFC Branches here

About HDFC

Housing Development Finance Corporation Limited or HDFC Ltd was founded in October 17th 1977 as the first specialised mortgage company in India with its head office at Mumbai with an objective to enhance the residential housing stock in the country through the provision of Housing Finance in a systematic and professional manner, and to promote home ownership. HDFC was promoted by the Industrial Credit and Investment Corporation of India. The company got the certificated of commencement of business on 3rd December. HDFC provides housing finance in India. The corporation provides long term housing loans mainly to low and middle income individuals and corporate bodies. HDFC is a leading provider of Housing Finance in India. The Company has a network of approximately 330 offices (which includes 83 offices of its wholly owned distribution company HDFC Sales Private Limited) catering to over 2,400 towns & cities spread across the country. It also has offices in Dubai, London and Singapore and service associates in the Middle East region, to provide housing loans and property advisory services to Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs). Its product range includes loans for purchase and construction of a residential unit, home improvement loans, home extension loans, non-residential premises loans for professionals and loan against property etc. In 2012, HDFC Limited was recognised as one of India's 'Best Companies to work for' in a joint study conducted by The Economic Times and 'The Great Place to Work Institute'. In 2013, a survey on "India's Best Boards" listed HDFC's Board of Directors among the 5 best boards in India. The company have market capitalization of Rs. 206,783.13 crores. Company reported profit of Rs. 7,440.24 crores as on year ended 31st March 2014.

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News - Oct 2016
18th Oct 16 Axis Bank cuts it benchmark MCLR by 5 base point rates
Axis Bank cuts it benchmark MCLR by 5 bps with effect from Tuesday. The bank has reduced down its rates across tenures, effectively reducing the overnight rates to 8.80 per cent while their three year lending rate is 9.35 percent. The bank announced the reduction after its peers such as ICICI, Kotak Mahindra, and Indian bank cut their lending rates following the RBI monetary policy review on October 4th, 2016.
18th Oct 16 Citibank gives special Diwali offers on personal loans
Citibank personal loan offers reduction in rates to 11.49 per cent for digital channels and online applications made at MyLoanCare. Bank offers 0.50 per cent discount on processing fee and an Amazon Gift Voucher of Rs. 250 for loans disbursed till 3rd November, 2016. Also, get a Flipkart Gift Voucher upto Rs. 2500 on applying through MyLoanCare.
17th Oct 16 SBI Chief: Sub 9 percent, marginal cost of lending rate (MCLR) will be doable soon
SBI chief Arundati Bhattacharya said that the deal with Essar group will get the debt transferred to another organization and also proposed to launch the joint venture with Brookfield Asset Management (Canadian Company) who had agreed to commit Rs. 7,000 Cr for distressed assets which will help the bank to reduce down the lending rates further. She emphasized that the bank had cut 95 bps out of total 150 bps cut in rates and also MCLR would reduce down shortly.
15th Oct 16 Axis, Kotak Mahindra Banks tests blockchain transactions
ICICI Bank has done successful execution of its first two transactions using blockchain technology, now other private sector banks gear up for the technology. Axis Bank and Kotak Mahindra Bank are conducting pilot transactions in trade settlements and cross border remittances, while HDFC is still assessing the opportunity.
14th Oct 16 PNB Housing Finance cuts home loan rates by 10 basis points
PNB Housing has reduced its home loan rates by 10 bps. The floating home loan rates have been reduced to 9.45 per cent from 9.55 per cent while fixed rates decreased to 9.4 from 9.5 per cent. PNBHFL has also cut its loan against property rates by 25 bps to 11 per cent from 11.25 per cent. This rate cut will be effective from 14th October, 2016.