4,80,000 people visited this section in last 30 daysApply Online

MyLoanCare - Baat Aapke Interest Ki

MyLoanCare Customer Ratings - 4.5/5.0 Apply Online

HDFC FD - Scheme, Eligibility, Documents

HDFC Fixed Deposit Highlights

Last Updated 12th Jul 2021

HDFC fixed deposit is a reliable, secure and beneficial investment option that offers various benefits such as guaranteed returns, Government insurance, loan borrowing facility and flexible fixed deposit tenure.

Interest Rate 6.20% to 6.65%
Minimum Tenure 1 year
Maximum Tenure 7 years
Deposit Amount Rs. 5,000
Maximum Deposit No Limit
    Earn upto 6.95% on FD APPLY NOW

    HDFC FD

    HDFC is one of the leading fixed deposit providers in the country. The Bank offers FD with flexible tenures ranging between 1 year to 7 years. Apart from that, HDFC FD offers regular returns on fixed deposits ranging between 6.20% to 6.65%. For senior citizens, the interest rates on fixed deposits range between 6.00% to 6.50%. In addition to that, HDFC fixed deposit plans offer tailor-made fixed deposit products for different kinds of fixed deposit investors.

    Types of HDFC Fixed Deposit Schemes

    Different type of HDFC term deposit products offered to the investors are listed as follows:

    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

    Eligibility:

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

    Benefits of HDFC FD

    HDFC fixed deposit is a popular investment option due to a number of benefits it provides to the FD investors. Some of these are mentioned below:

    • Guaranteed returns: The best thing about HDFC FD is that it offers guaranteed and assured returns to the investors. The return offered on a fixed deposits is regulated by the Bank on a monthly, or quarterly basis, as per the Bank’s choice. Currently, HDFC offers FD rates up to 6.65%. The interest rates offered on HDFC FD is not only assured but also way higher than a savings account.
    • Insured by the Government: The Deposit Insurance and Credit Guarantee Corporation offers deposit insurance of ₹ 5 Lakh to fixed deposits across all banks. As HDFC is a HFC, deposits are not covered under insurance. However, credit rating agencies give ratings to your deposits, which give a good understanding of savings. Investing in a fixed deposits with the highest rating of AAA, rated by ICRA and CRISIL, is a reliable investment option.Thus, HDFC term deposit is safe and secure, as the funds are backed by the government no matter what the current situation of the Bank is.
    • Loan against FD: The investment made in an FD scheme is not only a reliable investment option but can also act as an asset. This is because HDFC fixed deposit allows one to borrow a secured loan against HDFC FD. Benefits of Loan Against FD of HDFC are as follow:
      • Loan against FD of HDFC offers the loan amount upto 90%-95% of the FD amount.
      • The interest charged on the loan against FDs are generally low and are 2% to 3% higher than the FD interest rate.
      • Loan against FD of the HDFCs flexible repayment options.
      • The processing fee of Loan Against FD in the HDFC is nil.
      • It is a hassle-free loan and does not require the depositor to break the FD.
    • Flexible tenures: HDFC FD offers the investors the flexibility to choose the investment tenure as per their convenience. HDFC offers fixed deposit for a minimum tenure of 1 year up to a maximum tenure of 7 years. HDFC offers different interest rates across FD tenures.
    • Flexible investment: Apart from the flexibility of tenure, HDFC fixed deposit offers the flexibility of funds to FD investors as funds can be invested with a minimum amount of Rs. 5,000. Apart from that, one can invest in the HDFC FD up to a maximum of No Limit.

    Premature Withdrawal Terms and Conditions

    Though a fixed deposit with HDFC means depositing funds for a fixed period of time in expectation of a regular return. However, keeping in view the instability in the markets, the Bank allows premature withdrawals of funds from a fixed deposit. This means that investors can withdraw their funds before the date of maturity to fulfil their urgent financial conditions.

    Withdrawing funds prematurely from HDFC will attract an interest rate lowered by Allowed below the effective rate on the date of booking the FD. The penalty charged on fixed deposits is valid only on fixed deposits with a tenure greater than seven days. In case of premature withdrawal of HDFC fixed deposits with tenure less than seven days, the bank does not pay any interest.

    Eligibility Criteria for HDFC FD

    HDFC FD facility can be availed by the following type of investors:

    • Indian Citizens
    • Members of HUFs or the Hindu Undivided Family
    • Business firms
    • Local governing bodies
    • Government departments
    • Employees of private limited companies
    • Trust accounts

    Documents for HDFC FD

    HDFC fixed deposit requires one to submit the following documents:

    • Passport size photographs
    • Identity proofs such as Aadhar card, passport, PAN card, and driving license.
    • Address proofs such as passport, ration card, utility bills such as water, gas or electricity bill.
    • Age proof such as birth certificate, matriculation passing certificate, and Voter ID card.
    • Bank account details such as passbook and account number.

    Credit Card Against HDFC FD

    Credit Cards againstHDFC FD are secured credit cards. They are availed against the amount deposited in the term deposits. They are an ideal option for individuals with low CIBIL score and salary. Below mentioned are the important features of Credit Cards against HDFC FD:

    • The limit offered on the credit card depends upon the amount deposited in the fixed deposits. Generally, banks offer around 80% of the deposit amount as the total credit limit on the card.
    • Credit Cards against the fixed deposits require minimum documentation.
    • The minimum tenure of the term deposits should be 6 months to avail credit card against it.
    • Secured Credit cards also offer discounts, cashback and rewards.
    • The cardholder continues to earn the same applicable interest rate on FD.

    FAQs

    What is the loan against FD repayment tenure in HDFC?

    Loan against FD is the  facility which allows the investor to avail the loan against the amount deposited in the term deposit. HDFC offers the loan against FD facility to the FD investors with a repayment tenure of up to 7 years.

    What is the minimum investment for FDs under HDFC?

    HDFC Fixed Deposit is one of the safest investment avenues and it can be availed with a minimum deposit of Rs. 5,000.

    What is the minimum amount for a fixed deposit in HDFC?

    The minimum amount required for a fixed deposit investment in HDFC fixed deposit is Rs. 5,000.

    What is the current interest rate on FD in HDFC?

    Currently, HDFC offers an interest rate ranging between 6.20% to 6.65% on its fixed deposits.

    What is the penalty for early withdrawal in HDFC?

    Bank charges penalty on premature withdrawal of fixed deposits. The penalty for early withdrawal ranges between 0.5% to 1% in most cases, based on the loan amount and tenure.

    What is the minimum FD tenure for which a fixed Deposit account can be opened in HDFC?

    HDFC fixed deposit can be opened with a minimum tenure of 1 year. The tenure of the HDFC fixed deposits ranges from 1 year to 7 years.

    Can I deposit additional amount in my HDFC 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 HDFC?

    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 HDFC?

    The documents required to open an FD account in HDFC includes KYC documents and Passport size photos.

    In how many years FD doubled in the HDFC?

    The time HDFC fixed deposits will take to double the initial amount will depend upon the rate of interest offered on the FD. You can calculate the maturity amount of the HDFC FD at MyLoanCare by entering the amount you want to deposit and the interest offered on FD.

    Can an NRI open a HDFC fixed deposit account?

    No, Non-Resident Individuals are not allowed to invest in HDFC schemes. It means that they are not eligible to invest in fixed deposits.

    Is the HDFC safe for FD?

    Yes, the HDFC is one of the safest avenues for any investments. HDFC is backed by the Government of India and the returns on any investment including fixed deposits are guaranteed.

    Is it wise to take a loan against FD from the HDFC?

    Yes, opting for a Loan Against FD is an excellent decision. The reasons to take loan from HDFC are:

    • It offers the loan upto 90%-95% of the FD amount.
    • The interest levied on the loan against FDs are generally low and are 2% to 3% higher than the FD interest rate.
    • Loan against FD offers flexible repayment options.
    • The processing fee of Loan Against FD is Nil.
    • It is a hassle-free loan and requires minimum documentation.
    • Loan against FD helps the depositors to avoid the option of premature withdrawal.

    However, there might be a chance that the alternative credit option is offering lower rates with better facilities. In that case, individuals must compare and decide on the credit option.


    Notification ×
    • Home Loan

      Home Loan at all-time low rates starting at 6.75%. Cashback of up to ₹ 1,000.

      Apply Now
    • Personal Loan

      Instant Personal Loan starting at 10.25% with Cashback of up to ₹ 1,000 .

      Check Offers
    • Gold Loan

      Instant Gold Loan starting at 9.50% with Cashback of up to ₹ 500

      Apply Now
    • Loan Against Property

      Best Loan Against Property Offers starting @ 8.75%. Cashback of up to ₹ 1,000*.

      Apply Now
    • Business Loan

      Collateral Free Business Loan Rates starting at 14.00% with Overdraft facility.

      Apply Now
    • Fixed Deposit

      AAA rated FDs with returns as high as 6.95%.

      Invest Now
    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
    Loader
    Please wait while your information is being processed...