HDFC Ltd. was among the first institutes to get an 'in principle' approval from the banking regulator RBI to establish a bank in the private sector. The bank was incorporated in August 1994 as 'HDFC Bank Limited', with its registered office located in Mumbai. In January 1995, HDFC started operations as a Scheduled Commercial Bank.
HDFC Bank offers a range of deposits to meet varying client needs. Fixed deposits have been increasingly gaining popularity among the masses, considering that it is a safe investment option compared to investments like stocks and mutual funds. FDs are accounts where money gets deposited for a fixed tenure, without fluctuating interest rates. HDFC Bank’s fixed deposit options offer a wide variety in terms of deposit tenures and interest rates.
(Senior Citizen Rates do not apply to NRIs | Minimum tenor for NRE Deposit is 1 Year)
| Period | < 2 Crore Interest Rate (per annum) | < 2 Crore Senior Citizen Rates (per annum) | >=2 Crore to < 5 Crores Interest Rate (per annum) | >=2 Crore to < 5 Crores Senior Citizen Rates (per annum) |
|---|---|---|---|---|
| 7 - 14 days | 3.50% | 4.00% | 4.25% | 4.75% |
| 15 - 29 days | 4.25% | 4.75% | 4.25% | 4.75% |
| 30 - 45 days | 5.75% | 6.25% | 6.25% | 6.75% |
| 46 - 60 days | 6.25% | 6.75% | 6.50% | 7.00% |
| 61 - 90 days | 6.25% | 6.75% | 6.50% | 7.00% |
| 91 days - 6 months | 6.25% | 6.75% | 6.75% | 7.25% |
| 6 months 1 day- 6 months 3 days | 6.75% | 7.25% | 7.10% | 7.60% |
| 6 months 4 days | 6.75% | 7.25% | 7.10% | 7.60% |
| 6 months 5 days- 9 months | 6.75% | 7.25% | 7.10% | 7.60% |
| 9 months 1 day- 9 months 3 days | 7.10% | 7.60% | 7.35% | 7.85% |
| 9 months 4 days | 7.10% | 7.60% | 7.35% | 7.85% |
| 9 months 5 days - 9 months 15 days | 7.10% | 7.60% | 7.35% | 7.85% |
| 9 months 16 days | 7.10% | 7.60% | 7.35% | 7.85% |
| 9 months 17 days < 1 Year | 7.10% | 7.60% | 7.35% | 7.85% |
| 1 Year | 7.30% | 7.80% | 7.50% | 8.00% |
| 1 year 1 day - 1 year 3 days | 7.30% | 7.80% | 7.50% | 8.00% |
| 1 year 4 days | 7.30% | 7.80% | 7.50% | 8.00% |
| 1 year 5 days - 1 Year 15 Days | 7.30% | 7.80% | 7.50% | 8.00% |
| 1 Year 16 days | 7.30% | 7.80% | 7.50% | 8.00% |
| 1 year 17 days - 2 Years | 7.30% | 7.80% | 7.50% | 8.00% |
| 2 years 1day - 2 Years 15 days | 7.40% | 7.90% | 7.50% | 8.00% |
| 2 Years 16 days | 7.40% | 7.90% | 7.50% | 8.00% |
| 2 years 17 days - 3 Years | 7.40% | 7.90% | 7.50% | 8.00% |
| 3 years 1day - 5 years | 7.25% | 7.75% | 7.35% | 7.85% |
| 5 Years 1 Day - 8 Years | 6.50% | 7.00% | 7.00% | 7.50% |
| 8 Years 1 Day - 10 Years | 6.50% | 7.00% | 7.00% | 7.50% |
Source: www.hdfcbank.com/personal/interest-rates
Note: Fixed Deposit interest rates are subject to change anytime as per Bank’s discretion.
| Period | 5crore<5.25 crore | >=5.25 crore <5.50 crore | >=5.50 crore <24.75 crore | >=24.75 crore to <25 crore |
|---|---|---|---|---|
| 91 days - 120 days | 7.00% | 7.00% | 7.00% | 7.00% |
| 121 days - 150 days | 7.00% | 7.00% | 7.00% | 7.00% |
| 151 days <= 6 months | 7.00% | 7.00% | 7.00% | 7.00% |
| 6 months 1 day - 6 Months 3 days | 7.30% | 7.30% | 7.30% | 7.30% |
| 6 months 4 days | 7.30% | 7.30% | 7.30% | 7.30% |
| 6 months 5 days <=9 months | 7.30% | 7.30% | 7.30% | 7.30% |
| 9 months 1 day - 9 months 3 days | 7.45% | 7.45% | 7.45% | 7.45% |
| 9 months 4 days | 7.45% | 7.45% | 7.45% | 7.45% |
| 9 months 5 day - 9 months 15 days | 7.45% | 7.45% | 7.45% | 7.45% |
| 9 months 1 day- 9 months 3 days | 7.45% | 7.45% | 7.45% | 7.45% |
| 9 months 4 days | 7.45% | 7.45% | 7.45% | 7.45% |
| 9 months 5 days - 9 months 15 days | 7.45% | 7.45% | 7.45% | 7.45% |
| 9 months 16 days | 7.45% | 7.45% | 7.45% | 7.45% |
| 1 Year | 7.70% | 7.70% | 7.70% | 7.70% |
| 1 Year 1 day to 1 year 3 days | 7.70% | 7.70% | 7.70% | 7.70% |
| 1 year 4 days | 7.70% | 7.70% | 7.70% | 7.70% |
| 1 year 5 days - 1 Year 15 Days | 7.70% | 7.70% | 7.70% | 7.70% |
| 1 Year 5 day to 2 Years | 7.70% | 7.70% | 7.70% | 7.70% |
| 2 year 1 day to 3 Years | 7.55% | 7.55% | 7.55% | 7.55% |
| 3 year 1 day to 5 years | 7.40% | 7.40% | 7.40% | 7.40% |
| 5 year 1 day to 10 Years | 7.25% | 7.25% | 7.25% | 7.25% |
Source: www.hdfcbank.com/personal/interest-rates
Note: Fixed deposit interest rates are subject to change anytime as per Bank’s discretion.
| Period | GBP | USD | EURO | JPY | Effective On |
|---|---|---|---|---|---|
| < 29 Days | 0.01% | 0.01% | 0.01% | 0.01% | December 01, 2018 |
| 30 days - 3 Months | 0.01% | 0.01% | 0.01% | 0.01% | December 01, 2018 |
| 3 Months 1 day - 6 Months | 0.01% | 0.01% | 0.01% | 0.01% | December 01, 2018 |
| 6 Months 1 day - < 1 Year | 0.01% | 0.01% | 0.01% | 0.01% | December 01, 2018 |
| 1 year - < 2 years | 1.83% | 3.54% | 0.47% | 0.62% | April 01, 2019 |
| 2 years - < 3 years | 2.32% | 3.88% | 0.92% | 0.88% | April 01, 2019 |
| 3 years only | 2.27% | 3.71% | 0.83% | 0.79% | April 01, 2019 |
Source: www.hdfcbank.com/personal/interest-rates
Note: Fixed deposit interest rates are subject to change anytime as per Bank’s discretion.
The features of HDFC Bank FD Account are as follows:
Entities who can open a fixed deposit account with HDFC Bank are as follows:
What is the interest rate that HDFC Bank offers on senior citizens FDs?
Senior Citizens can earn an additional interest of 0.50% over the existing rates.
Can I make alterations to the tenure of my ongoing HDFC Bank Fixed Deposit?
An individual cannot change the tenure of an already active fixed deposit account. However, he or she can close the existing fixed deposit account and open a new one with tenure of his or her choice.
How to open an HDFC Bank Fixed Deposit account without a PAN card?
In case PAN is not available, an individual will have to make a declaration in Form 60.
What is the highest interest rate that is offered by the HDFC Bank Fixed Deposit?
Interest rate on fixed deposits under Rs. 2 crores can go up to 7.40%.
What are the FD tenure options with HDFC Bank?
The bank offers a range of tenure options to fixed deposit holders. The minimum period for which deposit needs to be made is 7 days, while the maximum is 10 years.
What is the minimum amount required to start a HDFC Bank Fixed Deposit account?
The minimum amount required to open an HDFC Bank Fixed Deposit Account is Rs. 5,000.
What is the eligibility criteria to open a HDFC Bank Fixed Deposit account?
Entities who can open a fixed deposit account with HDFC Bank are as follows:
Can I open my HDFC Bank Fixed Deposit without a PAN card?
While it is possible to open a fixed deposit account without a PAN card, there are certain implications to it. The TDS applicable will be recovered at 20% (as against 10% with PAN card). There will be no TDS credit from the Income Tax department, and no TDS certificate shall be issued (As per CBDT circular no: 03/11). Additionally, penal TDS will apply and Form 15G/H and other exemption certificates become invalid. It must be noted that no deposit for a sum equal to or more than Rs. 50,000 shall be booked if the PAN is not provided.
