5.5% Interest On Fixed Deposits

HDFC Bank Offers Up To 5.5% Interest On Fixed Deposits

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5.5% Interest On Fixed Deposits, HDFC Bank provides its customers with three different types of domestic fixed deposit schemes targeting the distinct needs of the investors. For these schemes, the bank pays interest to the customers on the prevailing HDFC FD rates. Domestic deposits can be made for up to Rs. 5 crores. NRI customers can make deposits in HDFC Bank NRI Deposits.

HDFC FD rates for FCNR and RFC Accounts

HDFC Foreign Currency Non-Resident (FCNR) Deposit Account is a type of account for NRIs to deposit their earnings in foreign currency. Withdrawals are also made in the same currency. The account is safe from fluctuations in the currency as there is no conversion; hence there is no conversion-related loss. Interest earned on such deposits is not taxable in India.

Resident Foreign Currency (RFC) Account is for residents of India who wish to invest their foreign earnings. Deposits are made in foreign currency while the withdrawals are process in INR. Interest earned on such deposits is taxable in India. This type of deposit is especially beneficial for Returning Indians.
HDFC Bank fixed deposits are good for you if you are looking for easy investment via phone banking or internet banking, apart from the traditional offline mode.

If your aim is to multiply your savings without any significant risks, you should invest in HDFC FD. It is advise to stay invested for 1 year at least to get decent FD interest rates.
Senior citizens (60 years or above) are advise to invest in HDFC Senior Citizen Care FD. In this scheme, senior citizens will get higher interest rates at an extra of 0.75% over the standard FD rates. Keep in mind that you need to invest for a minimum period of 5 years 1 day to get the benefits of this scheme.

HDFC FD rates for FCNR and RFC Accounts

You can also opt for a loan against FD which is not available in a normal HDFC tax saver fixed deposit scheme (5 years lock-in).

HDFC Bank extends two distinct FD schemes addressing needs of its varied customers. These schemes are:
Total 0.75% above the standard rates
Note: Customers aged 60 years or above can invest in this scheme.

Investors can take loan against their HDFC fixed deposit to mend financial gaps. This is one of the most important advantages of investing in a fixed deposit
Customers of HDFC FD (domestic) schemes are liable for TDS or Tax Deducted at Source.

According to the Bank’s official website, HDFC Bank has increased the interest rates by up to 10 basis points (bps) on select tenors. However, senior citizens will continue to get additional rate of interest or 50 basis points higher interest rates than the general public.

According to the latest revision, HDFC Bank has hiked interest rates by ten basis points (bps) on FDs maturing in one year and two years. These deposits will now attract a 5 percent interest rate.
After the latest revision, the interest rate on FDs range between 2.50 percent interest rate to 5.50 percent for the general public depending on the tenure.

HDFC Bank latest FD interest rates for senior citizens

Even after the revision in FD interest rates, senior citizens will continue to get 50 basis points higher interest rates than the general public.

HDFC Bank is offering 3 percent interest rate on deposits between 7 days and 29 days and 3.5 percent on deposits maturing in 30-90 days.
On 91 days to 6 months, 4 percent and on 6 months 1 day to less than one year, 4.9 percent. Meanwhile, the bank is offering 5.4 percent on FDs maturing in one year.
Similarly, deposits with a maturity period of 5 years to 10 years will help in earning 6.25 percent interest.

Documents Required to Open an HDFC Fixed Deposit
Aadhaar card
Voter ID
PAN card
Driving Licence
Ration card with photo
Any government-issued ID card
Passport

HDFC Bank Extends the Validity of the Special FD Scheme offered to Senior Citizens

HDFC Bank has extended the validity of the special FD scheme that is offer to senior citizens until 30 September 2021. Earlier, the scheme was valid until 30 November 2021.

An additional interest rate of 0.25% is offer under the scheme. The additional interest rate is above the current 0.50% premium that is offer. The scheme was introduce in May 2020 and is valid for a tenure that ranges between 5 years one day and 10 years. The scheme is only valid for deposits that are below Rs.5 crore.

How to Calculate HDFC Fixed Deposit Interest Rates
The interest that you earn on your FD depends on several factors, including the amount, rate of interest, tenure, frequency of interest calculation, and taxation. To calculate the interest earned on your HDFC FD is hassle-free and simple. All you got to do is visit the online HDFC FD calculator to know the amount you can earn after maturity.

HDFC Bank Offers Up To 5.5% Interest On Fixed Deposits
HDFC Bank offers additional 0.50 per cent interest across tenors to senior citizens. The maturity period for fixed deposits offered by the HDFC Bank starts from seven days and go on for 10 years.

HDFC Bank revised its interest rates on fixed deposits with effect from November 13, 2020. 5.5% Interest On Fixed Deposits, The country’s largest private sector lender, currently offers 5.50 per cent interest on fixed deposit account below Rs 5 crore with tenure of 5 years 1 day – 10.

HDFC Fixed Deposit Features


HDFC Bank FDs are one the best investment options available for depositors who are looking. To invest in a fixed income instrument and earn higher returns than the savings account. Key Features of HDFC Bank Fixed Deposit are:

HDFC Bank Fixed Deposit Rates – Premature Withdrawal
You can close your HDFC Bank FD account prematurely, however HDFC Bank charges a penalty of 1% for premature withdrawal. Also, The penal provisions for premature closure on HDFC Bank FD are subject to change from time to time and may also vary with deposit schemes.

HDFC Bank FD Interest Rates 2021

HDFC Bank Limited is one of the largest private sector banks in India. 5.5% Interest On Fixed Deposits, It is headquarter in Mumbai, Maharashtra, and is also the third-largest company by market capitalization on the Indian stock exchanges. HDFC provides a plethora of products and services including wholesale banking, retail banking, different types of loans and credit cards
HDFC bank provides its customers with multiple Fixed Deposit options wherein they can park their surplus savings for a fixed tenure and enjoy substantial returns on it. The depositor is require to deposit the once at the time of opening the account with the bank.

The money will be secure for the tenure chosen and interest will be provide accordingly. Additional money cannot be deposit during the tenure and no funds can be withdrawn as well.
For an HDFC Bank FD with tenure ranging from 7 days to 12 months, the interest rate offered is from 2.50% p.a. to 4.40% p.a. These deposits are known as short term deposits as their tenure is less than 1 year.

Medium-term fixed deposits
Medium-term fixed deposits have their tenures ranging from more than 1 year to less than 5 years. The interest offered by the bank on these deposits is around 4.90% – 5.30% p.a.
These deposits have their tenure ranging from 5 years to 10 years and offer an interest rate of 5.50%.

Can withdraw anytime 

HDFC Bank Limited is one of the largest private sector banks in India. It is headquartered in Mumbai, Maharashtra, and is also the third-largest company by market capitalization on the Indian stock exchanges. HDFC provides a plethora of products and services including wholesale banking, retail banking, different types of loans and credit cards
HDFC bank provides its customers with multiple Fixed Deposit options wherein they can park their surplus savings for a fixed tenure and enjoy substantial returns on it. 5.5% Interest On Fixed Deposits, The depositor is required to deposit the once at the time of opening the account with the bank.

The money will be secured for the tenure chosen and interest will be provided accordingly. Additional money cannot be deposited during the tenure and no funds can be withdrawn as well.

  1. Can I change the existing tenure of the HDFC Bank Fixed Deposit account?
    No, it is not possible to change the tenure once you have opened an FD account in HDFC bank. However, you can opt to close the existing fixed deposit account and can open a new account with a tenure of your choice
2. What is the tenure for the HDFC FD account?


The tenure for HDFC Fixed deposit ranges from a minimum of 7 days to a maximum of 10 years.

3. What are the current HDFC FD interest rates for 2021?
HDFC provides a 2.50% to 5.50% interest rate on their FD schemes for general citizens and 3.00% – 6.25% for senior citizens depending on the tenure.

4. What are the documents needed to open an FD account in HDFC Bank?
An HDFC Fixed Deposit account can be opened with a minimum deposit of 5000 rupees. One must have a PAN card if the deposit amount is greater than 50,000 rupees.
For senior citizens, valid age proof is also required.

5. Can I change the existing tenure of the HDFC Bank Fixed Deposit account?
No, it is not possible to change the tenure once you have opened an FD account in HDFC bank. However, you can opt to close the existing fixed deposit account and can open a new account with a tenure of your choice

6. What is the tenure for the HDFC FD account?


The tenure for HDFC Fixed deposit ranges from a minimum of 7 days to a maximum of 10 years.

7. What are the current HDFC FD interest rates for 2021?
HDFC provides a 2.50% to 5.50% interest rate on their FD schemes for general citizens and 3.00% – 6.25% for senior citizens depending on the tenure.

8. What are the documents need to open an FD account in HDFC Bank?
An HDFC Fixed Deposit account can be open with a minimum deposit of 5000 rupees. One must have a PAN card if the deposit amount is greater than 50,000 rupees.
For senior citizens, valid age proof is also require.

9. Can I deposit some additional amounts in my FD account?
No, you are not allow to deposit any additional amount as you are allow to deposit the amount only at the time of opening the account. If you want to change the amount, you need to open a new fixed deposit account with HDFC.

 10. What is the highest FD interest rate provided by HDFC Bank?


The highest HDFC FD interest rate provided by HDFC Bank is 5.50%  for a medium-term FD ranging from 5 years to 10 years.

11. For which tenure is the HDFC FD interest rate highest?
Currently, the highest HDFC FD rate is 5.50% offer for tenure ranging from 5 years 1 day – 10 years. Senior citizens get to earn interest at 6.25% on this tenure.

12. Are there any preferential HDFC FD interest rates for senior citizens?
Yes, the bank offers 0.50% additional FD rates over the regular interest rates offered to regular individuals. Extra 0.25% of interest is offer to senior citizens investing for a minimum of 5 years and 1 day under the HDFC Senior Citizen Care FD. This FD is valid from 18th May 2020 to 30th June 2021.

13. Is it compulsory to provide PAN card details while opening an HDFC fixed deposit?
It is important to share the PAN details with the bank while investing in a fixed deposit scheme. In case the PAN card is not provided.

14. Can I invest more in my already active HDFC Fixed Deposit Scheme?
No. Fixed deposits are one-time investment vehicles. This means that along with the interest rates, your investment amount, i.e. the amount deposited also remains fixed. However, if you wish to multiply your investment while earning interest at fixed rates, you should consider Recurring Deposits.

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