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HDFC Personal Loan Rates: Types, Eligibility

blog-image
May 10, 2023
5 Minutes

Unlocking Financial Growth: A Deep Dive into HDFC Fixed Deposits (FD) in 2023

Explore the Avenues of Stability and Returns with HDFC Bank Fixed Deposits

HDFC Bank Limited, a financial powerhouse headquartered in Mumbai, Maharashtra, stands tall as one of India's largest private sector banks. Offering an extensive array of financial products and services, HDFC is a name synonymous with trust and innovation. Among its diverse offerings, HDFC Bank's Fixed Deposit (FD) schemes provide a reliable platform for customers to grow their savings systematically.

Types of HDFC Bank FD Schemes: Tailored for Every Need

  1. Regular Fixed Deposits:

    • Attractive interest rates.

    • Nomination facility available.

    • Option for sweep-in and super saver facility.

  2. 5-Year Tax Saving Fixed Deposit:

    • Eligible for tax savings under Section 80C.

    • Compounded quarterly interest.

    • Option for monthly or quarterly payout.

  3. HDFC FCNR Fixed Deposit:

    • Ideal for earning interest on foreign income.

    • Fully repatriable principal and interest.

    • Tax exemption on the entire deposit.

  4. Dream Deposits:

    • Flexibility to set aside a portion of your salary.

    • Competitive rates without penalties.

    • Supports financial goals seamlessly.

  5. Overdraft Against Fixed Deposits:

    • Link savings or current account with FD for liquidity.

    • Interest is payable only on the drawn amount.

    • FD continues to earn interest.

Features and Benefits: Steering Towards Financial Growth

  • Senior Citizens Advantage:

    • The additional interest rate of 0.50% p.a.

  • Minimum Deposit Requirement:

    • Open an FD account with just Rs. 5000.

  • Nomination Facility:

    • Ensure smooth succession planning.

  • Attractive Interest Rates:

    • Competitive rates for optimal returns.

  • Sweep-in and Super Saver Facility:

    • Maximize liquidity without compromising on returns.

HDFC Bank FD Rates for 2023: Effective from 1st Oct 2023

TenureRegular CustomersSenior Citizens3 months - 5 months4.50%5.00%5 months 1 day - 6 months4.75%5.25%6 months 1 day - 7 months4.80%5.30%7 months 1 day - 8 months4.85%5.35%8 months 1 day - 9 months4.90%5.40%9 months 1 day - 1 year5.00%5.50%1 year 1 day - 3 years5.75%6.25%3 years 1 day - 5 years6.00%6.50%5 years 1 day - 10 years6.25%6.75%

How to Open an HDFC FD Account: Seamless and Convenient

  1. Internet Banking:

    • Log in to NetBanking.

    • Choose 'Open Fixed Deposits' under 'Transact.'

    • Fill in details, provide nominee information, and confirm.

  2. Mobile App (HDFC Bank App):

    • Download the HDFC Bank App.

    • Navigate to 'Deposit' under 'Save.'

    • Select 'Open Fixed Deposit,' fill details, and confirm.

  3. Offline:

    • Visit the nearest HDFC Bank branch.

    • Fill out the FD application form, submit documents and deposit the amount.

Eligibility and Documents: Inclusivity Simplified

Eligibility:

  • Indian residents

  • Sole proprietorship enterprises

  • Trusts

  • Limited companies

  • Hindu Undivided Family (HUF) members

  • Partnership firms

Documents Required:

  • Proof of Identity: Aadhaar, Voter ID, PAN card, Driving license, etc.

  • Proof of Address: Electricity bill, Bank statement, Telephone bill, Passport, etc.

Tax on HDFC Bank Fixed Deposit: Unlocking Savings with Tax Benefits

  • Eligible for tax deduction under Section 80C.

  • TDS on interest deducted quarterly.

  • Submit Form 15G/15H for exemption from TDS on interest income.

Loan Against HDFC Bank Fixed Deposits: Leveraging Assets for Financial Flexibility

  • Avail a loan up to 90% of the FD value.

  • Applicable to NRE and NRO FD account holders.

  • Not available for HDFC Tax Saving Fixed Deposit.

Premature Closure: Navigating Unforeseen Situations

  • The interest rate for premature closure is determined by original tenure and current tenure.

  • 1% penalty for premature withdrawals (except for 7 days to 14 days deposits).

FAQs: Unraveling Queries for Informed Decisions

  1. Can I change the tenure of my HDFC FD account?

    • No, the tenure cannot be changed. Close the existing FD and open a new one.

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

    • The highest interest rate is 7.25% for regular citizens.

  3. What is the minimum deposit for opening an HDFC FD account?

    • Open an FD account with just Rs. 5000.

  4. Can I deposit additional amounts in my HDFC FD account?

    • No, additional deposits are not allowed.

  5. What is the eligibility to open an HDFC FD account?

    • Open to Indian residents, companies, trusts, and more.

For the latest information, visit the official HDFC Bank website or contact customer care. Invest wisely, and thrive financially!

Available on both IOS and AndroidTry Pluto Money Today 👇
Author
Team Pluto
Have a question?
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Invest Smarter, Here's how to achieve Your Dreams 80% Faster - Let’s Get Started!Trusted by 3 Crore+ Indians
Dream Home
Dream Wedding
Dream Car
Retirement
1st Crore
credit-cards

HDFC Personal Loan Rates: Types, Eligibility

blog-image
May 10, 2023
5 Minutes

Unlocking Financial Growth: A Deep Dive into HDFC Fixed Deposits (FD) in 2023

Explore the Avenues of Stability and Returns with HDFC Bank Fixed Deposits

HDFC Bank Limited, a financial powerhouse headquartered in Mumbai, Maharashtra, stands tall as one of India's largest private sector banks. Offering an extensive array of financial products and services, HDFC is a name synonymous with trust and innovation. Among its diverse offerings, HDFC Bank's Fixed Deposit (FD) schemes provide a reliable platform for customers to grow their savings systematically.

Types of HDFC Bank FD Schemes: Tailored for Every Need

  1. Regular Fixed Deposits:

    • Attractive interest rates.

    • Nomination facility available.

    • Option for sweep-in and super saver facility.

  2. 5-Year Tax Saving Fixed Deposit:

    • Eligible for tax savings under Section 80C.

    • Compounded quarterly interest.

    • Option for monthly or quarterly payout.

  3. HDFC FCNR Fixed Deposit:

    • Ideal for earning interest on foreign income.

    • Fully repatriable principal and interest.

    • Tax exemption on the entire deposit.

  4. Dream Deposits:

    • Flexibility to set aside a portion of your salary.

    • Competitive rates without penalties.

    • Supports financial goals seamlessly.

  5. Overdraft Against Fixed Deposits:

    • Link savings or current account with FD for liquidity.

    • Interest is payable only on the drawn amount.

    • FD continues to earn interest.

Features and Benefits: Steering Towards Financial Growth

  • Senior Citizens Advantage:

    • The additional interest rate of 0.50% p.a.

  • Minimum Deposit Requirement:

    • Open an FD account with just Rs. 5000.

  • Nomination Facility:

    • Ensure smooth succession planning.

  • Attractive Interest Rates:

    • Competitive rates for optimal returns.

  • Sweep-in and Super Saver Facility:

    • Maximize liquidity without compromising on returns.

HDFC Bank FD Rates for 2023: Effective from 1st Oct 2023

TenureRegular CustomersSenior Citizens3 months - 5 months4.50%5.00%5 months 1 day - 6 months4.75%5.25%6 months 1 day - 7 months4.80%5.30%7 months 1 day - 8 months4.85%5.35%8 months 1 day - 9 months4.90%5.40%9 months 1 day - 1 year5.00%5.50%1 year 1 day - 3 years5.75%6.25%3 years 1 day - 5 years6.00%6.50%5 years 1 day - 10 years6.25%6.75%

How to Open an HDFC FD Account: Seamless and Convenient

  1. Internet Banking:

    • Log in to NetBanking.

    • Choose 'Open Fixed Deposits' under 'Transact.'

    • Fill in details, provide nominee information, and confirm.

  2. Mobile App (HDFC Bank App):

    • Download the HDFC Bank App.

    • Navigate to 'Deposit' under 'Save.'

    • Select 'Open Fixed Deposit,' fill details, and confirm.

  3. Offline:

    • Visit the nearest HDFC Bank branch.

    • Fill out the FD application form, submit documents and deposit the amount.

Eligibility and Documents: Inclusivity Simplified

Eligibility:

  • Indian residents

  • Sole proprietorship enterprises

  • Trusts

  • Limited companies

  • Hindu Undivided Family (HUF) members

  • Partnership firms

Documents Required:

  • Proof of Identity: Aadhaar, Voter ID, PAN card, Driving license, etc.

  • Proof of Address: Electricity bill, Bank statement, Telephone bill, Passport, etc.

Tax on HDFC Bank Fixed Deposit: Unlocking Savings with Tax Benefits

  • Eligible for tax deduction under Section 80C.

  • TDS on interest deducted quarterly.

  • Submit Form 15G/15H for exemption from TDS on interest income.

Loan Against HDFC Bank Fixed Deposits: Leveraging Assets for Financial Flexibility

  • Avail a loan up to 90% of the FD value.

  • Applicable to NRE and NRO FD account holders.

  • Not available for HDFC Tax Saving Fixed Deposit.

Premature Closure: Navigating Unforeseen Situations

  • The interest rate for premature closure is determined by original tenure and current tenure.

  • 1% penalty for premature withdrawals (except for 7 days to 14 days deposits).

FAQs: Unraveling Queries for Informed Decisions

  1. Can I change the tenure of my HDFC FD account?

    • No, the tenure cannot be changed. Close the existing FD and open a new one.

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

    • The highest interest rate is 7.25% for regular citizens.

  3. What is the minimum deposit for opening an HDFC FD account?

    • Open an FD account with just Rs. 5000.

  4. Can I deposit additional amounts in my HDFC FD account?

    • No, additional deposits are not allowed.

  5. What is the eligibility to open an HDFC FD account?

    • Open to Indian residents, companies, trusts, and more.

For the latest information, visit the official HDFC Bank website or contact customer care. Invest wisely, and thrive financially!

Available on both IOS and AndroidTry Pluto Money Today 👇
Author
Team Pluto
Have a question?
Digital GoldInvest in 24K Gold with Zero making ChargesLearn More
Digital SilverInvest in silver with Zero making ChargesLearn More
Pluto FixedEarn from 11% to 14% Returns annually in a fixed lock-in periodLearn More