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HDFC FD Interest Rates 2022

HDFC Bank Fixed Deposit Interest Rate: Today

Last Updated 17th Jan 2022

When it comes to the FD interest rate, the highest rate offered on HDFC Bank FD is 5.50%. Latest HDFC Bank FD interest rate for senior citizens, on the other hand, ranges between 3.00% to 6.25%.You can earn up to ₹ 27,500 per lakh by investing some money in a fixed deposit account.

Time Duration FD Interest Rates Today Current FD Interest Rates for Senior Citizen
7 days to 14 days 2.50% 3.00%
15 days to 29 days 2.50% 3.00%
30 days to 90 days 3.00% 3.50%
91 days to 6 months 3.50% 4.00%
181 days to 364 days 4.40% 4.90%
Earn upto 7.05% on FD APPLY NOW

HDFC Fixed Deposit Features

HDFC Bank 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 Bank Fixed Deposit are:

  • Deposit Amount : HDFC Bank FD can be opened with an amount as a low ₹ 5,000 to up to No Limit.
  • FD Tenure : Ranges between 7 days to 10 years.
  • Interest Rate Range : 2.50% p.a. to 5.50% p.a.
  • Senior Citizens FD Rate : 3.00% p.a to 6.25% p.a.
  • Highest Interest Rate : As per today’s rate, HDFC Bank’s highest interest rate on FD is 5.50% offered for a tenure of 10 years.
  • Safety of HDFC Bank Deposits : HDFC Bank deposits are covered under the Deposit Insurance Scheme of RBI in which up to ₹ 5 lakh of all deposits of a depositor are insured by DICGC.
  • Loan against FD : HDFC Bank provides loan against FD to help its depositor meet their liquidity requirements without breaking the FD.
  • Auto- Renewal Facility : Available
  • Nomination Facility : Available
  • Popular FD Schemes : Regular Fixed Deposit, HDFC Bank 5 Year Tax Saving Fixed Deposit, Foreign Currency Non-Resident (FCNR) Fixed deposit, Non-withdrawable Deposits, Overdraft against Fixed deposit

HDFC Bank FD Interest Rates Today

Interest rates on HDFC Bank deposits are updated regularly by the Government of India. The following are updated HDFC Bank FD interest rates 2022:

Tenure Interest Rate
7 days to 14 days 2.50%
15 days to 29 days 2.50%
30 days to 90 days 3.00%
91 days to 6 months 3.50%
181 days to 364 days 4.40%
1 year 4.90%
1 year 1 day to 2 years 5.00%
2 years 1 day to 3 years 5.15%
3 years 1 day to 5 years 5.35%
5 years 1 day to 10 years 5.50%

HDFC Bank 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 Bank offers a higher interest rate to senior citizens than the general public. Fixed deposit interest rates for senior citizens in HDFC Bank 2022 are as follows:

Tenure Interest Rate for senior citizens
7 days to 14 days 3.00%
15 days to 29 days 3.00%
30 days to 90 days 3.50%
91 days to 6 months 4.00%
181 days to 364 days 4.90%
1 year 5.40%
1 year 1 day to 2 years 5.50%
2 years 1 day to 3 years 5.65%
3 years 1 day to 5 years 5.80%
5 years 1 day to 10 years 6.25%

HDFC Bank Fixed Deposit Rates – Premature Withdrawal

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

Nomination Facility on HDFC Bank FD

HDFC Bank 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 Bank FD account. The nominee has to submit his/her identification proof at the time of claim.

HDFC Bank Fixed Deposit Scheme

Regular Fixed Deposit

Description:

  • Under this scheme, the depositor is allowed to make investment into the deposit to earn attractive and higher returns along with a flexibility and security.
  • Convenience of booking deposit through netbanking
  • Nomination facility available
  • Earn higher returns on the money deposited
  • Avail sweep in and super saver facility on your deposit
  • Loan facility upto 90 per cent is available on the deposit

Who is eligible?

  • Resident Indians, hindu undivided family, sole proprietorship firms, partnership firms, limited companies and trust
HDFC Bank 5 Year Tax Saving Fixed Deposit

Description:

  • Fixed deposit scheme with the sole purpose of tax savings where the deposits are eligible for tax exemption under Section 80C of the Income Tax Act.
  • In the case of joint deposits, the tax benefit under 80C will be available only to the first holder of the deposit
  • Nomination facility available
  • Interest on deposit will be compounded on a quarterly basis
  • Can be booked with monthly and quarterly payout
  • Convenience of applying through net banking

Who is eligible?

  • Resident Indians and hindu undivided family of 18 years of age and above
Foreign Currency Non-Resident (FCNR) Fixed deposit

Description:

  • FCNR deposit allows earning Indian interests on foreign currencies. As per this deposit facility, FD holders can repatriate their principal and interest amount completely.
  • Allows the fixed depsoit holder to invest their money in foreign currencies
  • Benefit of tax exemption at the entire deposit
  • FCNR deposit holders can get the benefit of overdraft on their NRO current or savings account against the FCNR deposit with super saving facility

Who is eligible?

  • Can be opened by Non-Resident Indians or people of Indian origin.
Non-withdrawable Deposits

Description:

  • Non-withdrawal deposits allow no premature and partial withdrawals of funds from fixed deposits. Depositors can avail monthly or quarterly interest pay outs.
  • Premature withdrawal, partial withdrawal or sweep-in facility not allowed.
  • For deposits with a tenure above 6 months, the interest is calculated on a quarterly basis.
  • The fixed deposit interest rate applicable for a monthly interest option is calculated at a discounted rate over the standard fixed deposits interest rates offered by the bank.
  • Tax at source is deducted as per the Income Tax regulations.

Who is eligible?

  • This deposit is offered only on amount of Rs 5 crores and above.
Overdraft against Fixed deposit

Description:

  • HDFC Bank offers overdraft against fixed deposits to its FD customers. The facility helps one fulfil their financial needs without breaking their fixed deposits.
  • FD holders can avail up to 90% of overdraft on their FD
  • Interest to be paid only on the drawn amount
  • Can be linked with both savings and current account

Who is eligible?

  • To avail overdraft against fixed deposit one is required to have a minimum FD amount of Rs 25,000 for a minimum tenure of 6 months 1 day

Earn upto ₹ 27,500 Per Lakh on HDFC Bank Fixed Deposit?

To earn ₹ 27,500 per lakh on an online FD for 60 months:-

  • Investment Amount - ₹ 1,00,000
  • FD Interest Rate - 5.50%
  • Tenure - 60 months
  • Calculation formula - Simple interest
  • Interest Payout - ₹ 27,500
  • FD Maturity Amount - ₹ 1,27,500

Note: Before investing in a fixed deposit account, you must compare the FD rates offered by different financial institutions. This way, you can earn the maximum returns.

Documents Required to Open Fixed Deposit Account in HDFC Bank

  • Basic KYC documents such as PAN, Aadhar card and passport size photograph.
  • Age proof (Birth certificate, matriculation certificate, etc,)
  • Passport size photographs
  • Bank A/c details

FD Account Opening Process at HDFC Bank

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

  • Visit the official website of HDFC Bank 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 Bank FD after reading the terms and conditions.

Loan Against Fixed Deposit HDFC Bank

HDFC Bank offers loans up to 90% against its own deposit. Note that HDFC Bank will not give you loan against FD of any other bank. HDFC Bank offers Loan against FD at the rate of 3.5% to 6.5%

Illustration - Mr. Rahul has opened a fixed deposit of ₹ 1,00,000 for 2 years in HDFC Bank. The borrower later decided to take a loan against his FD. The bank has approved a credit limit of 90% against his FD at 10% interest rate. Now, if the borrower draws ₹ 90,000 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 ₹ 90,000 available for 1 month only. The amount he repays after 1 month is ₹ 90,744. So, the interest charged on the loan taken is ₹ 744.

FAQs

What is the highest fixed deposit interest rate for HDFC Bank?

You can earn a maximum interest of 5.50% on HDFC Bank fixed deposit deposits for a tenure of 10 months.

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

Yes, senior citizens get a higher rate on their deposits compared to FD rates. The rate of regular FD are in the range of 2.50% to 5.50%. Compared to this, HDFC Bank senior citizens FD are in the range of 3.00% to 6.25%.

What are the current HDFC Bank FD interest rates 2022?

Current interest for FD in HDFC Bank ranges between 2.50% - 5.50%. for different tenure.The highest rate is offered on a tenure 6.25 months/years. For senior citizens the interest rates ranges bweteen 3.00% - 6.25%.

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

The minimum deposit amount required to book an FD with HDFC Bank is ₹ 5,000 and there is no limit for maximum amount.

Did HDFC Bank increase FD rates in 2022?

Presently, HDFC Bank offers fixed deposit at a highest interest rate of 5.50, the rates were last updated on 17 Jan, 2022.

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

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 Bank 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 Bank?

Yes, you can submit your application for opening an FD account on the website of HDFC Bank. 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 Bank?

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 5.50%. For HDFC Bank FD the number of years in which your FD will get doubled is; 72/5.50 = 13

What is the interest of 1 lakh in the HDFC Bank?

The interest on HDFC Bank fixed deposit depends on the tenure of the FD for which it is deposited. The highest interest rate is 5.50% for tenure and banks offer senior citizens little more, which is 6.25%.


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HDFC News - Jan 2022
  • 2022-01-17 : HDFC Revises Fixed Deposit Rates Twice in over a month
    HDFC Bank has hiked the term deposit rates for the second time this month. After the revision, the bank is offering FD at rates upto 5%.
  • 2022-01-13 : HDFC Bank Revises Fixed Deposit Rates
    HDFC Bank is now offering a 2.50 per cent and 3% interest rate on deposits maturing in 7 to 29 days and 30 days to 90 days, respectively, with the revised rates.
  • 2021-05-28 : HDFC Bank commits Rs 100 cr towards COVID relief in FY22
    HDFC Bank committed Rs 100 crore for setting up medical infrastructure for COVID-19 relief in 2021-22. The bank is planning to set up 20 oxygen plants in hospitals besides three 100-bed COVID care facilities as part of the plan.
  • 2021-04-19 : HDFC Bank Q4 net profit rises 18% YoY to Rs 8,186.5 crore
    In Q3FY21, HDFC Bank had reported a net profit of Rs 8,758.3 crore and an operating profit of Rs 15,186 crore. The bank advances which include home, LAP, personal, two-wheeler, car, gold, education and doctor loan along with business and mudra loans aggregated to Rs 11,320 billion. Further, The bank’s deposits which include fixed and recurring deposits grew 16.3% at approximately Rs 13,350 billion as of March 31, 2021, as compared to Rs 11,475 billion year-on-year (YoY).
  • 2021-03-30 : HDFC Bank extended Special Fixed Deposit Scheme for senior citizens till June 30
    With an aim to offer a higher interest rate on fixed deposits, HDFC Bank extended the Special Fixed Deposit Scheme for senior citizens till June 30. This is the third time the bank has extended the scheme. The Scheme was introduced with an aim to help the senior citizens earn higher returns amid falling interest rates on FD during the pandemic.
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