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HUDCO Fixed Deposit

Housing and Urban Development Corporation Limited is a public techno-financial institution known as HUDCO. It offers several fixed deposit investment options to its customers under the Public Deposit Scheme. You can choose from different investment schemes available and invest money to earn good returns in the form of interest. Same as bank fixed deposits, it is advisable to check the prevailing interest rates to be aware of the returns you will get from the investment.

HUDCO fixed deposit scheme offers its depositor the liberty of investing their money in a stress-free manner. HUDCO, with its vast experience in the investment field, allows its customers to avail the benefits of the goodwill with better returns on their investment.

Following are some of the key features of HUDCO fixed deposits

  • Safe investment scheme
  • Good returns on investment
  • Easily available liquidity
  • Advance interest warrants (available to Regular Plus Scheme)
  • Quarterly compounded interest

HUDCO Rates of Interest on Fixed Deposit

Following are the HUDCO fixed deposit interest rates offered to customers.

HUDCO fixed deposit rates for half-yearly interest payout.

Term of depositRegular FD rates (per annum)Senior citizen FD rates (per annum)
1 year to 3 years7.35%7.60%
4 year to 5 years 7.10%7.35%

(The rates of interest are subject to change as per the institution's discretion. The current interest rates are valid as of 25th October 2018.)

HUDCO fixed deposit rates for yearly interest payout

Term of depositRegular FD rates (per annum)Senior citizen FD rates (per annum)
1 year to 3 years7.50%7.75%
4 year to 5 years 7.25%7.50%

(The rates of interest are subject to change as per the institution's discretion. The current interest rates are valid as of 25th October 2018.) HUDCO interest rates for fixed deposits for non-individuals: Cumulative Scheme

The following table contains HUDCO fixed deposit interest rates for cumulative deposits for trusts, firms and companies.

Term of depositRegular FD rates (per annum)Senior citizen FD rates (per annum)
1 year to 3 years7.25%7.50%
4 year to 5 years 7.00%7.25%

(The rates of interest are subject to change as per the institution's discretion. The current interest rates are valid as of 25th October 2018.) HUDCO interest rates for fixed deposits for non-individuals: Non-Cumulative Scheme

The interest rates for HUDCO fixed deposit are listed in the table below (Non-Cumulative schemes)

Term of depositRegular FD rates (per annum)Senior citizen FD rates (per annum)
1 year to 3 years7.05%%7.30%
4 year to 5 years 6.80%7.05%

(The rates of interest are subject to change as per the institution's discretion. The current interest rates are valid as of 25th October 2018.) HUDCO fixed deposit rates with yearly interest payout

Term of depositRegular FD rates (per annum)Senior citizen FD rates (per annum)
1 year to 3 years7.25%7.50%
4 year to 5 years 7.00%7.25%

HUDCO fixed deposit rates for different terms (cumulative fixed deposit)

  • Short-term fixed deposit interest rate is 7.5% per annum for a term between 1 year and 3 years.
  • HUDCO interest rate for long term fixed deposit is 7.25% per annum for a term between 4 years to 5 years. HUDCO FD interest rates for senior citizens
  • HUDCO offers an additional 0.25% rate on fixed deposit for senior citizens.
  • The highest interest rate offered on term deposits for senior citizens is 7.75% per annum for a term between 1 year and 3 years.

Types of HUDCO Fixed Deposit Schemes

The following are the investment schemes offered by HUDCO.

  1. HUDCO Regular Plus – Periodic Income Scheme
  2. HUDCO Multiplier Plus – Cumulative Income Scheme
  3. HUDCO Cash Certificate – Cumulative Income Scheme

HUDCO Regular Plus – Periodic Income Scheme

Eligibility criteria to invest in HUDCO Regular Plus Plan.

The scheme is available to the following

  • Residents and non-residents Indians
  • Minors are also eligible to avail this scheme
  • Hindu Undivided Families
  • Trusts
  • Senior citizens above 60 years of age
  • Government and domestic companies

Features of HUDCO Regular Plus – Periodic Income Scheme

  • The scheme comes with a lock-in a period of five years.
  • Nomination facility is available under this scheme.
  • The minimum deposit amount to be invested under the scheme is Rs. 50,000 and in the multiple of Rs. 5,000 thereafter.
  • The scheme offers premature withdrawal facility as per the guidelines of Housing Finance Companies (HFC).
  • The scheme offers a facility to avail a loan against fixed deposit up to 75% of the deposited amount. The loan can be availed after completion of 3 months, and it is generally offered at 2% higher interest rate than prevailing HUDCO FD rate.

HUDCO Multiplier Plus – Cumulative Income Scheme

Eligibility criteria to invest in HUDCO Multiplier Plus Scheme.

The scheme is available to the following-

  • Residents and non-residents Indians
  • Minors are also eligible to avail this scheme
  • Hindu Undivided Families
  • Co-operative societies and Trusts
  • Senior citizens above 60 years of age
  • Government and domestic companies

Features of HUDCO Multiplier Plus Scheme

  • The minimum deposit amount to be invested is Rs. 10,000 and in the multiples of Rs. 1000 thereafter.
  • The scheme offers a facility to avail loan against fixed deposit up to 75% of the deposited amount. The loan can be availed after completion of 3 months, and it is generally offered at 2% higher interest rate than prevailing HUDCO FD rate.
  • Premature withdrawals and nomination are available as per the terms and conditions.

HUDCO Cash Certificate – Cumulative Income Scheme

Eligibility criteria to invest in HUDCO Cash Certificate

The scheme is available to the following-

  • Residents and non-residents Indians.
  • Minors are also eligible to avail this scheme
  • Hindu Undivided Families
  • Co-operative societies and Trusts
  • Senior citizens above 60 years of age
  • Government and domestic companies

Features of HUDCO Cash Certificate

  • The scheme comes with two different investment period options – 36 months and 60 months.
  • The scheme offers a nomination facility.
  • Premature withdrawals are allowed subject to guidelines provided by Housing Finance Companies (HFC).

Documents Required to Buy HUDCO Fixed Deposit Scheme

Identity proof

  • Passport
  • Pan card
  • Voter’s identity card
  • Driving licence
  • Government-issued identity card
  • Letter from public authority/servant

Address proof

  • Telephone bill
  • Account statement
  • Electricity bill
  • Letter from recognised public authority/servant
  • Ration card
  • Letter from employer

How to Apply for HUDCO Fixed Deposit Schemes?

HUDCO provides a secure platform to select and buy a fixed deposit scheme. An online application form to invest in HUDCO fixed deposit is available on the official website of HUDCO. You can visit the website, download the form and submit it along with the required documents. The application form contains detailed information of the scheme, including interest rate, eligibility criteria and features.

Follow the steps mentioned below to apply for HUDCO fixed deposit scheme.

  • Visit the official website of HUDCO.
  • Click on the “Public Deposit” button and select the “Application Form” option.
  • Once you choose “Application form”, you will be redirected to a new page with two options – Application Form: HUDCO Public Deposit Scheme and Application form for deposit Under Section 80C – HUDCO Public Deposit Scheme.
  • Choose your preferred investment option. For example – If you choose “Application form for Deposit under Section 80C – HUDCO Public Deposit Scheme”, a form will appear on your screen with the details including documentation, interest rate, premature withdrawals, features, etc.
  • It is advisable to read out each detail thoroughly.
  • Fill out the requested details and attach the required documents.
  • Submit the required documents at your nearest branch.

For more details, you can refer the details provided on the official website of HUDCO or visit the nearest branch of HUDCO.

FAQs on HUDCO Fixed Deposit

Is HUDCO FD safe?

HUDCO is a public sector enterprise backed by the Government of India. HUDCO fixed deposit is a safe investment option as returns are predefined and available at a fixed rate of interest.

What is NHB scheme?

NHB is a principal agency to promote housing finance companies and is wholly owned by the Reserve Bank of India. National Housing Bank (NHB) offers fixed deposit as well as tax-saving deposits at an attractive rate of interest.

Is HUDCO an NBFC?

HUDCO is a public sector enterprise owned by the Government of India, under the Companies Act, 1965.