An HDFC Bank fixed deposit (FD) is an account that allows you to deposit your money for a fixed period of time, earning your interest at a fixed rate. It gives you a higher rate of interest than a savings bank account. HDFC FD interest rates are quite competitive and are higher than the rates on their savings deposits.
The longest permissible term offered by HDFC Bank for FDs is 10 years. Generally, the longer the term of deposit, the higher is the rate of interest.
HDFC FD Rate of Interest:
HDFC FD rates of interest are determined by changes in RBI monetary policy such as repo rate, base rate, etc, the internal liquidity position of banks, economic conditions, and the level of credit demand.
What is the current HDFC FD Interest Rate?
Current FD interest rates in HDFC are tabulated below. Here FD rates range is given for different deposit tenure from 7 days – 10 years:
Revision in Interest Rates on Retail Domestic term deposits (Below Rs. 5 crores) interest rates revised: (All figures in % per annum)
| Bank Name | Tenors | Rates For Public | Rates for Senior Citizens | As on Date |
|---|---|---|---|---|
| HDFC Bank | 7 - 14 days | 3 | 3.5 | 2021-11-25 |
| HDFC Bank | 15 - 29 days | 3 | 3.5 | 2021-11-25 |
| HDFC Bank | 30 - 45 days | 3.5 | 4 | 2021-11-25 |
| HDFC Bank | 46 - 60 days | 4.5 | 5 | 2021-11-25 |
| HDFC Bank | 61 - 90 days | 4.5 | 5 | 2021-11-25 |
| HDFC Bank | 91 days - 6 months | 4.5 | 5 | 2021-11-25 |
| HDFC Bank | >6 months - 9 months | 5.75 | 6.25 | 2021-11-25 |
| HDFC Bank | >9 months < 1 Year | 6 | 6.5 | 2021-11-25 |
| HDFC Bank | 1 Year - < 15 months | 6.6 | 7.1 | 2021-11-25 |
| HDFC Bank | 15 months - < 18 months | 7.1 | 7.6 | 2021-11-25 |
| HDFC Bank | 18 months - < 21months | 7 | 7.5 | 2021-11-25 |
| HDFC Bank | 21months - 2 years | 7 | 7.5 | 2021-11-25 |
| HDFC Bank | >2 years - 5 years | 7 | 7.5 | 2021-11-25 |
| HDFC Bank | >5 years - 10 years | 7 | 7.75 | 2021-11-25 |
FD interest rates of HDFC bank according to deposit period:
FD is a deposit of a fixed sum of money for a fixed period of time – which can vary anything from a few days to a few years – at a fixed interest rate known at the beginning of the investment.
Depending on the deposit period or tenure, these FDs are further categorised as short-term, medium-term, and long-term deposits.
Short-term FD: For an HDFC FD with tenure ranging from 7 days to 365 days. These deposits are known as short-term deposits as they have a tenure of less than 1 year.
Medium-term FD: Medium-term FDs have their tenures ranging from more than 1 year to less than 5 years.
Long-term FD: This deposit’s tenure ranges from 5 years to 10 years and offers a higher interest rate.
You may check the updated HDFC Interest rate on FD at HDFC Bank’s official website here.
How is the HDFC FD rate of interest calculated?
FD interest rates of HDFC bank are determined by changes in RBI monetary policy such as repo rate, base rate, etc, the internal liquidity position of banks, economic conditions, and the level of credit demand.
The interest you earn on your deposited amount in FD depends on a lot of factors such as the invested amount, tenure for the deposit, rate of interest, and compounding frequency.
One of the best ways to calculate the interest earned on your HDFC bank FD is using the HDFC Bank FD calculator available over the internet. It is the most hassle-free way of calculating interest.
You may Calculate the HDFC FD Interest rate by using: HDFC Bank FD Calculator
This FD Calculator for HDFC requires some data like – your principal deposit amount, rate of interest, period (in the number of months), and interest compounding frequency. After calculation, you will get the maturity amount after the maturity period and effective yield in %.
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Information about HDFC FD Interest Rates:
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Table of Contents |
What is the HDFC FD Account?
An HDFC Bank fixed deposit (FD) is an account that allows you to deposit your money for a fixed period of time, earning your interest at a fixed rate. It gives you a higher rate of interest than a savings bank account.
FDs are fixed-income debt securities issued by HDFC Bank. Putting money into an FD is like giving a loan to the bank, in return for which the bank pays you interest.
HDFC FD interest rates are quite competitive and are higher than the rates on their savings deposits.
HDFC Bank FD Features:
- A wide range of tenures, ranging from 7 days to 10 years, to suit your investment plan
- You can open an FD for as little as ₹ 5,000, and use it as a back-up for your savings or current account with Sweep-in and Super Saver Facilities.
- Safe custody of your fixed deposit receipts
- The facility of automatic renewal
- Loan facility is available up to 90% of principal and accrued interest
Eligibility and Document required for HDFC FD:
Eligibility for HDFC Bank Fixed Deposit (FD):
Get details on eligibility criteria & documents required for HDFC Bank Regular Fixed Deposit
Below are the individuals and groups eligible for a Regular Fixed Deposit:
- Residents
- Hindu undivided families
- Sole proprietorship firms
- Partnership firms
- Limited companies
- Trust accounts
Document requirement for HDFC Bank Fixed Deposit (FD):
Document requirement to apply for HDFC Bank Fixed Deposit:
- Recent photograph
- KYC documents
Individual & Company proofs:
- PAN card
- Aadhaar Card
- Passport
- Driving License
- Voter’s ID
Partnership proofs:
- Incorporating certificate
- Authorised signatories ID proofs
- Partnership Deed
- Authorised signatories’ signatures
Hindu Undivided Family:
- Self-attested PAN card
- HUF declaration deed
- HUF’s Bank Statement
Types of HDFC Bank Fixed Deposits:
Regular Fixed Deposits:
- Grow income with compound interest on reinvesting principal and interest
- Cover shortfalls in your account by sweeping in funds from linked FDs
- Get an overdraft to tide over cash flow issues with the Super-Saver facility
Five Year Tax Saving Fixed Deposit:
- Save tax under section 80c of the Income Tax Act
- Invest a minimum of ₹ 100 up to ₹ 1.5 lakhs in a financial year
- Enjoy quarterly or monthly interest payouts
FCNR Deposits:
- Hold your deposit in as many as six global currencies
- Repatriate principal and interest amount fully
- Enjoy tax exemption on the entire deposit
Overdraft Against Fixed Deposits:
Avail up to 90% of overdraft on your fixed deposit instantly.
- Link your current or savings account to a Fixed Deposit
- Get an overdraft to tide over cash flow issues with such linking
- Pay interest only on the overdrawn amount for the period it is used
Non-Withdrawable Deposits:
- No Premature or Partial withdrawal allowed
- Get an overdraft to tide over cash flow issues with the first party OD against the FD facility
- Enjoy quarterly or monthly interest payouts
How to check HDFC FD maturity value?
FD is a deposit of a fixed sum of money for a fixed period of time – which can vary anything from a few days to a few years – at a fixed interest rate known at the beginning of the investment.
The maturity amount of Fixed Deposit invested in HDFC bank for a specified period can be calculated by using the HDFC Bank FD calculator available over the internet.
The HDFC FD Calculator for HDFC Bank FD available here requires some data like – your principal deposit amount, rate of interest, period (in the number of months), and interest compounding frequency. After calculation, you will get the maturity amount after the maturity period and effective yield in %.
