Compare HDFC Fixed Deposit Rates in India - Domestic and NRI

HDFC Bank offers a range of fixed deposit options for both domestic and NRI (Non-Resident Indian) investors.

Domestic fixed deposit rates at HDFC Bank vary based on the tenure of the deposit, with a minimum tenure of 7 days and a maximum of 10 years.

For NRI fixed deposits, HDFC Bank offers a higher interest rate compared to domestic fixed deposits, with a minimum tenure of 1 year and a maximum of 5 years.

HDFC Bank's fixed deposit rates are competitive, but it's essential to consider other factors such as liquidity and tax implications when making a decision.

HDFC Bank offers competitive interest rates for domestic fixed deposits, making it a popular choice for investors. For deposits below Rs. 2 crore, interest rates range from 3.00% to 7.20% per annum.

The bank also offers higher interest rates for deposits exceeding Rs. 2 crore. For example, for deposits above Rs. 3 crore to less than Rs. 5 crore, HDFC Bank offers interest rates ranging from 4.75% to 7.00% per annum.

Here's a breakdown of the interest rates offered by HDFC Bank for different deposit tenures:

For domestic fixed deposits below ₹2 crores, HDFC Bank offers a range of interest rates. The interest rates for general public and senior citizens are the same for tenures between 7-14 days and 15-29 days, at 3.00% per annum.

The interest rates for these tenures increase to 3.50% per annum for senior citizens. For tenures between 30-45 days, the interest rate for general public is 3.50% per annum, while for senior citizens, it is 4.00% per annum.

Here's a breakdown of the interest rates for different tenures:

For tenures above 2 years and 11 months, the interest rates for general public and senior citizens are 7.00% per annum and 7.50% per annum, respectively.

RFC is a type of fixed deposit offered by HDFC that allows you to deposit money for a fixed period of time in exchange for a fixed interest rate.

You can deposit money in various currencies, including GBP, USD, EURO, and JPY.

The interest rates for HDFC RFC vary depending on the period of deposit, with rates as low as 0.01% for periods less than 29 days.

New rates are effective from 1 August 2024.

Here's a breakdown of the interest rates for HDFC RFC:

To open an HDFC RFC account, simply choose a branch and enter the required amount and tenure.

HDFC Bank offers a variety of fixed deposit accounts to suit different needs.

You can choose from a Regular Fixed Deposit, which is a traditional savings option with a fixed interest rate.

HDFC Bank HealthCover FD is another option, which is designed to provide health insurance coverage along with a fixed deposit.

The Five Year Tax Saving Fixed Deposit is a tax-saving option that allows you to save taxes on your income.

FCNR Deposits are designed for non-resident Indians and offer a fixed deposit option with a specific interest rate.

Overdraft Against Fixed Deposits allows you to borrow money against your fixed deposit, while Non-withdrawable Deposits are designed to help you save a fixed amount for a specific period without withdrawing it.

There are several types of accounts available, each with its own unique features and benefits.

One type of account is the Regular Fixed Deposit, which allows you to deposit a fixed amount of money for a fixed period of time.

HDFC Bank also offers HealthCover FD, which is a type of fixed deposit that provides health insurance coverage.

The Five Year Tax Saving Fixed Deposit is another option, which allows you to save tax while earning interest on your deposit.

You can also consider FCNR Deposits, which are fixed deposits denominated in foreign currencies.

Another option is Overdraft Against Fixed Deposits, which allows you to borrow money against the value of your fixed deposit.

If you prefer not to have access to your money, you can opt for Non-withdrawable Deposits.

Here are the different types of accounts offered by HDFC Bank:

HDFC Bank offers a variety of Fixed Deposit schemes to cater to different financial goals and needs.

One of the most basic types of FD is the Regular Fixed Deposit, which offers a fixed interest rate for a chosen tenure. This type of FD is suitable for individuals seeking guaranteed returns and security for their savings.

The Tax Saving Fixed Deposit has a lock-in period of 5 years, making it ideal for long-term goals. This scheme also allows you to save tax under Section 80C of the Income Tax Act.

The HDFC Bank HealthCover FD provides life and accident insurance coverage along with fixed deposit benefits. This unique scheme is suitable for individuals seeking financial protection in addition to earning interest on their savings.

The Goal Based Fixed Deposit Offer provides slightly higher interest rates for specific tenures, allowing you to plan and achieve your financial goals more effectively. This limited-period offer is a great option for those who want to earn more interest on their savings.

The FCNR Fixed Deposit is designed for Non-Resident Indians (NRIs) to earn interest on their foreign currency deposits in Indian rupees. This scheme offers competitive interest rates and various tenure options.

HDFC Fixed Deposits offer a range of features and benefits that make them an attractive investment option.

You can start with a minimum deposit of ₹5,000, which is relatively low compared to other investment options.

Flexible tenures allow you to choose a timeframe that suits your financial goals, ranging from short-term to long-term deposits.

HDFC Fixed Deposits offer assured returns, giving you predictability and security for your investment.

Compound interest can grow your earnings further by reinvesting the interest earned along with the principal amount.

The sweep-in facility lets you link your FD to your savings account and automatically transfer funds to maintain a minimum balance, preventing account charges.

A super saver facility provides an overdraft facility against your FD to access funds without breaking the deposit, allowing you to meet unexpected financial needs.

You can conveniently open, manage, and close your FD account through HDFC Bank's online platform.

Here are some key benefits of HDFC Fixed Deposits:

If you're a senior citizen, you can enjoy an extra 0.50% interest on your fixed deposits, making HDFC Bank FDs an attractive option for you.

The minimum deposit requirement is ₹5,000, which is a relatively low amount compared to other investment options.

You can also take advantage of the nomination facility, which allows you to appoint nominees for a smooth asset transfer in unforeseen circumstances.

HDFC Bank FDs offer high returns with competitive interest rates, ensuring a stable and rewarding investment.

The sweep-in feature lets you make transactions even with a low account balance, providing flexibility and convenience.

If you withdraw your HDFC fixed deposit before maturity, a penalty fee of 1% will apply. You'll also receive interest based on the lower of two rates: the base rate for the original deposit term or the base rate for the period the deposit remained with the bank.

For withdrawals made between 7 and 14 days after booking the deposit, there's no penalty fee. This is a nice break for those who need to access their funds quickly.

The interest rate you get for premature closure of your fixed deposit will be 1.00% less than the agreed-upon rate or the rate for the time your money has been with the bank—whichever is lower. This rule applies to most cases, but there are exceptions.

Deposits lasting 7-14 days and those equal to or more than ₹25 crore have different terms. You can also get a loan against your fixed deposit, which might be a useful option for some.

HDFC Bank offers a range of fixed deposit rates in India to suit different financial goals and risk appetites.

The interest rates on HDFC Bank's fixed deposits are quite competitive, with rates ranging from 5.50% to 7.50% per annum, depending on the deposit tenure.

Tax on fixed deposits can be a bit of a headache, but don't worry, I'm here to break it down for you.

If your annual income is less than Rs.2.5 lakh, you won't have to pay any tax on your fixed deposit. However, you may need to submit Form 15G or 15H for claiming deductions.

There's a tax exemption on the annual interest income from all fixed deposits if it doesn't exceed Rs.40,000.

Here are the tax implications on fixed deposits:

A TDS of 10% will be applicable on the annual interest income of more than Rs.40,000. The bank may also deduct 20% TDS for individuals who don't have a PAN card.

Tax and Meaning can be a complex topic, but let's break it down to the core. The base rate for HDFC Fixed Deposits is applicable for premature closure, and it's the lower amount of either the original tenure's base rate or the base rate for the tenure the deposit has been with the bank.

For deposits under Rs.1 crore, the base rate is applicable on the date of booking. For deposits over Rs.5 crores, the base rate is for Rs.5 crore as on the date of booking.

A penalty of 1% is levied for premature withdrawals, including sweep-ins and partial withdrawals. This penalty doesn't apply to fixed deposits booked for 7 to 14 days.

Here's a summary of the base rate application:

HDFC Bank's NRE Fixed Deposit is designed for Non-Resident Indians (NRIs), denominated in Indian Rupees but maintained abroad. The interest rates for HDFC NRE Fixed Deposit are competitive, with returns on investment against tenures.

The interest rates for HDFC NRE Fixed Deposit are as follows: 6.60% for 1 year to , 7.10% for 15 months to < 18 months, and 7.00% for 18 months to < 21 months.

For longer tenures, the interest rates are also attractive, with 7.15% for 2 Years 11 Months - 35 Months and 7.20% for 4 Year 7 Months - 55 months.

Note that HDFC Bank's NRE Fixed Deposit interest rates are subject to change from time to time, with the latest rates effective from 26 July 2024.

You can easily calculate the interest earned on your HDFC FD using the online HDFC FD calculator. This hassle-free tool takes into account several factors, including the amount, rate of interest, tenure, frequency of interest calculation, and taxation.

To get started, you can visit the HDFC FD calculator and select the desired time period for your deposit, ranging from days to years. This is step 2 of the calculation process.

The calculator will display the estimated maturity amount, including the principal amount and the interest earned. This is step 4 of the calculation process.

Here's a breakdown of what you can expect from the HDFC Bank FD Calculator:

You can use this calculator to figure out your potential returns easily, just like in Example 3.