HDFC FD - Scheme, Eligibility, Documents
HDFC Bank Fixed Deposit Highlights
FD rate of interest in HDFC is in the range of 2.50% and 5.50% on deposits with tenure of 7 days to 10 years. HDFC Bank FDR is one of the best-fixed deposit schemes that can provide a good combination of high return and safety. Some of the popular HDFC deposit schemes are Regular Fixed Deposit, Senior Citizens FDRs, FCNR Fixed Deposit and 5-year Tax Saving Fixed Deposits. The bank also offers loan overdraft facility against FDs which gives a liquidity option to anyone who wishes to open a FD account with the bank.
| Interest Rate | 2.50% to 5.50% |
| Minimum Tenure | 7 days |
| Maximum Tenure | 10 years |
| Deposit Amount | Rs. 5,000 |
| Maximum Deposit | No Limit |
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HDFC Bank FD
HDFC Bank is one of the leading fixed deposit providers in the country. The Bank offers FD with flexible tenures ranging between 7 days to 10 years. Apart from that, HDFC Bank FD offers regular returns on fixed deposit ranging between 2.50% to 5.50%. For senior citizens, the interest rates on fixed deposits range between 3.00% to 6.25%. In addition to that, HDFC Bank fixed deposit plans offer tailor-made fixed deposit products for different kinds of fixed deposit investors.
Types of HDFC Bank Fixed Deposit Schemes
Different type of HDFC Bank term deposit products offered to the investors are listed as follows:
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Benefits of HDFC Bank FD
HDFC Bank fixed deposit is a popular investment option due to a number of benefits it provides to the FD investors. Some of these are listed as follows:
Premature Withdrawal Terms and Conditions
Though a fixed deposit with HDFC Bank 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 Bank 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 Bank fixed deposits with tenure less than seven days, the bank does not pay any interest.
Eligibility Criteria for HDFC Bank FD
HDFC Bank FD facility can be availed by the following type of investors:
Documents for HDFC Bank FD
HDFC Bank fixed deposit requires one to submit the following documents:
FAQs
✅What is the loan against FD repayment tenure?
HDFC Bank offers the loan against FD facility to the FD investors with a repayment tenure of up to 10 years.
✅ What is the minimum investment for FDs under HDFC Bank?
HDFC Bank FD can be availed with a minimum deposit of Rs. 5,000.
✅ What is the minimum amount for a fixed deposit in HDFC Bank?
The minimum amount required for a fixed deposit investment in HDFC Bank fixed deposit is Rs. 5,000.
✅ What is the current interest rate on FD in HDFC Bank?
Currently, HDFC Bank offers an interest rate ranging between 2.50% to 5.50% on its fixed deposits.
✅ What is the penalty for early withdrawal?
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 Bank?
HDFC Bank fixed deposit can be opened with a minimum tenure of 7 days.
- 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. - 2021-01-18 : HDFC Bank net profit rose by 18%
HDFC Bank net profit grew by 18% over a year ago in the December-ended quarter on the back of improved net interest income. Advances which include home, personal, car, two-wheeler and gold loans along with business and mudra loans during the quarter rose 15.6% year-on-year to Rs 10.82 lakh crore. Deposits which includes FD and RD grew by 19% from last year to Rs 12.7 lakh crore. Further, The CASA ratio for the bank stood at 43%. - 2021-01-08 : HDFC Bank posted a double-digit increase in deposits and advances
HDFC Bank reported a double-digit increase in deposits and advances in the third quarter of the fiscal year. The bank advances which include home, personal, car, two-wheeler, gold and education loan along with business and mudra loans hiked by 16% to Rs 10.82-lakh crore as on December 31, 2020. Further, the bank’s deposits rose by 19% in the third quarter of the fiscal to Rs 12.71-lakh crore. The CASA ratio is reported at around 43% as of December 31, 2020. - 2020-10-07 : HDFC Bank net profit jumps 18.4% to ₹7,513 crores
HDFC Bank reported an 18.4% increase in its net profit to ₹7,513 crores for the quarter ended in September 2020. The profit in the year-ago period was at ₹6,345 crores. The bank’s total advances were at ₹10.38 lakh crore in Q2 of FY21, an increase of 15.8% over the same period last year. The domestic retail loans which include retail loans like home, personal, car, two-wheeler, gold and education loan grew by 5.3% and domestic wholesale loans including the business and mudra loan grew by 26.5%. Further, total deposits which include FD and RD reported an increase of 20.3% (YoY) to ₹1,325,072 crore. HDFC bank CASA ratio stood at around 42% as of September 202O. - 2020-08-27 : HDFC Bank revised its FD rates
With effect from 25 August 2020, HDFC Bank revised its FD rates. The FD rates for 7 to 29 days is 2.50%, and it is 3% for 30 to 90 days. The fixed deposit rates for 91 days to six months is 3.50%, for six months one day to one year is 4.40%. Further, the FD rate for one year one day to two years is 5.10%, and it is 5.15% for two years one day to three years. FD rates for three years one day to ten years stands at 5.30%.
