HDFC Fixed Deposit Rate

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HDFC Bank Fixed Deposit Rate

HDFC Fixed Deposit Rate - FD Rate in India

A Fixed Deposit (FD) is one of the most popular financial instruments among the general population in India as it is a safe and reliable investment which provides a higher rate of interest than a regular savings account. It is considered to be a low-risk form of saving. Though the rewards are proportionately low as well when compared to investing in the stock market, for example, it is free from volatility and fluctuation.

Money can be deposited in an FD account for a period that typically ranges from 7 days to 10 years. Banks are free to set their own FD interest rate which in India can generally range from 3.5% - 8% depending on the tenure and amount among other factors. If you have some extra money that you wish to invest, opening an FD is a simple and safe option, with minimal documentation required.

Apart from banks, NBFCs and corporates too offer fixed deposits.

HDFC Bank deposit rates

The rate of interest paid on a fixed deposit varies according to the amount deposited, period and the issuing bank. HDFC Bank Interest Ratestypically ranges from 4%-9% per annum.

The defining criteria for a fixed deposit is that the money cannot be withdrawn before maturity, unless on payment of a penalty. Once the deposit matures, the bank credits the original amount plus the interest earned to the bank account specified when the FD is opened. The money deposited earns the same fixed rate of interest throughout the entire FD period (except for certain kinds of floating rate deposits).

HDFC Bank FD rates

Following is an overview of HDFC Bank Term Deposit Rates and HDFC Bank Short-Term Fixed Deposit Interest Rates.

HDFC Bank Interest Rates on Fixed Deposits 2015 – 2016:

(Do keep in mind that these rates can change at any time and can be changed at the sole discretion of the Bank. For the latest rates, it is advisable to check with HDFC Bank directly.)

Domestic / NRO / NRE term deposits

Period Interest Rate < 1 Crore (per annum) Interest Rate >=1 Crore to < 5 Crores (per annum)
7 - 14 days 3.50% 6.00%
15 - 29 days 5.00% 6.00%
30 - 45 days 5.50% 6.25%
46 - 60 days 6.25% 6.25%
61 - 90 days 6.25% 6.25%
91 days - 6 months 6.50% 6.50%
6 months 1 day- 6 months 3 days 6.75% 6.75%
6 months 4 days 6.75% 6.75%
6 months 5 days- 9 months 6.75% 6.75%
9 months 1 day- 9 months 3 days 6.75% 7.00%
9 months 4 days 6.75% 7.00%
9 months 5 days - 9 months 15 days 6.75% 7.00%
9 months 16 days 7.00% 7.00%
9 months 17 days < 1 Year 7.00% 7.00%
1 Year 7.25% 7.25%
1 year 1 day - 1 year 3 days 7.25% 7.25%
1 year 4 days 7.25% 7.25%
1 year 5 days - 1 Year 15 Days 7.25% 7.25%
1 Year 16 days 7.25% 7.25%
1 year 17 days - 2 Years 7.25% 7.25%
2 years 1day - 2 Years 15 days 7.25% 7.25%
2 Years 16 days 7.25% 7.25%
2 years 17 days - 3 Years 7.25% 7.25%
3 years 1day - 5 years 7.25% 7.25%
5 Years 1 Day - 8 Years 7.25% 7.25%
8 Years 1 Day - 10 Years 7.25% 7.25%

HDFC Bank FD Interest Rates for Senior Citizens

HDFC Bank offers special Senior Citizen FD Rates which is generally a small percentage over the rates as applicable for a regular FD.

HDFC Bank Senior Citizen FD Rates:

Period Interest Rate < 1 Crore (per annum) Interest Rate >=1 Crore to < 5 Crores (per annum)
7 - 14 days 4.00% 6.50%
15 - 29 days 5.50% 6.50%
30 - 45 days 6.00% 6.75%
46 - 60 days 6.75% 6.75%
61 - 90 days 6.75% 6.75%
91 days - 6 months 7.00% 7.00%
6 months 1 day- 6 months 3 days 7.25% 7.25%
6 months 4 days 7.25% 7.25%
6 months 5 days- 9 months 7.25% 7.25%
9 months 1 day- 9 months 3 days 7.25% 7.50%
9 months 4 days 7.25% 7.50%
9 months 5 days - 9 months 15 days 7.25% 7.50%
9 months 16 days 7.50% 7.50%
9 months 17 days < 1 Year 7.50% 7.50%
1 Year 7.75% 7.75%
1 year 1 day - 1 year 3 days 7.75% 7.75%
1 year 4 days 7.75% 7.75%
1 year 5 days - 1 Year 15 Days 7.75% 7.75%
1 Year 16 days 7.75% 7.75%
1 year 17 days - 2 Years 7.75% 7.75%
2 years 1day - 2 Years 15 days 7.75% 7.75%
2 Years 16 days 7.75% 7.75%
2 years 17 days - 3 Years 7.75% 7.75%
3 years 1day - 5 years 7.75% 7.75%
5 Years 1 Day - 8 Years 7.75% 7.75%
8 Years 1 Day - 10 Years 7.75% 7.75%

How to Calculate HDFC Bank Fixed Deposit Interest

You can use the HDFC Bank Fixed Deposit calculator to find out how much you can earn though an HDFC FD account. The FD calculator lets you calculate the maturity amount and the interest earned when you open a Fixed Deposit with HDFC. Alternatively, you can also use online resources to calculate the maturity amount and the interest earned on your FD account. There are several online sites that allow you to instantly calculate the interest earned. All you have to do is enter the FD amount, tenure and rate of interest – the calculator will do the number crunching and present you with a breakup of the interest earned and the maturity amount. You can enter as many combinations as you want, and the calculator will give you instant and accurate results.

You can also calculate the interest earned and the maturity value on the principal amount using the following formula.

Calculate HDFC FD Rate

A = P x (1 + r/n)nt

I = A - P

Where

A = Maturity Value

P = Principal Amount

r = Rate of Interest

t = Number of Years

n = Compounded Interest Frequency

I = Interest Earned

HDFC Bank FD Premature Withdrawal Penalty

Premature closure of an FD is subject to the terms agreed upon at the time of placing the deposit. You might need to break a fixed deposit before the maturity date in case of an emergency, like a medical crisis. In such cases it is possible to do so by paying a nominal penal charge. The penalty on premature closure and partial closure of Fixed Deposits is 1%. Note that penalty will not be applicable for FDs booked for a tenure of 7-14 days.

HDFC Bank FD – FAQS

What is the minimum amount required to book an FD with HDFC?

A minimum deposit of Rs. 5000 is required to open an FD with HDFC.

What is the eligibility for opening an FD account with HDFC Bank?

Individuals: All resident individuals including minors and Hindu undivided families are eligible to open an FD account. In addition, Sole proprietorship firms, Partnership firms and Limited companies and trust accounts are eligible to open an FD with HDFC Bank.

What are the documents required for individuals to open an FD account in HDFC?

In addition to the usual Identity proof, Address proof, Signature proof and Age proof (for senior citizens), the bank might ask for additional supporting documents as per its discretion.

Is it possible to change the existing fixed deposit account tenure?

No, it is not possible to change the tenure once the account is opened. If you want to do so, you can close your existing fixed deposit account and open a new account with the desired tenure.

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