HDFC Fixed Deposit Interest Rates-2020

How to Calculate HDFC Fixed Deposit Interest Rates

The interest that you simply earn on your FD depends on several factors, including the quantity, rate of interest, tenure, frequency of interest calculation, and taxation.

To calculate the interest earned on your HDFC FD is hassle-free and straightforward. All you bought to try to is visit the web HDFC FD calculator to understand the quantity you'll earn after maturity.

Special FD scheme for senior citizens launched by HDFC Bank

HDFC Bank, one among the private banks operating within the country has launched a special fixed deposit (FD) scheme for senior citizens called the ‘Senior Citizen Care FD scheme’.

 The speed of return offered on the special scheme by the lender is high in comparison to the standard rate of interest.

Citizens above the age of 60 years who open a hard and fast time deposit account is going to be offered additional interest of 75 basis points on deposits having a tenure of quite 5-year.

The new scheme which has been made available since 18 May is applicable to the new fixed deposit booked also as for the renewals. It shall be in effect till 30 September.

The interest offered by the bank to senior citizens for putting a hard and fast deposit under HDFC Bank oldster Care FD is 6.50% p.a. just in case of premature withdrawal of the FD, the payable rate of interest are going to be 1.25% below the contracted rate or the bottom rate.

It must be noted here that HDFC Bank had revised the interest rates on 18 May. The revision within the rates meant that the speed of return offered on fixed deposits to general citizens was within the range of three p.a. to 5.75% p.a. Senior citizens were offered within the range of three .50% p.a. to 6.50% p.a.

HDFC Bank Revises its Fixed Deposit Rates

HDFC Bank, one among the private banks operating within the country has revised its fixed deposit rates with effect from October 17. The lender which allows you to open a hard and fast time deposit account with them for a tenure that ranges between 7 days and 10 years offer interest up to six 85% once a year.

For deposits between 7 days and 14 days, the bank offers an interest of three .50%. The interest offered on deposits having a tenure of 15 days to 29 days and 30 days to 45 days is slashed by 0.25% and going forward will attract 4% and 4.90% respectively.

Deposits opened for a tenure between 46 days and 6 months will draw the interest of 5.40%. The lender is going to be offering 6% and 6.25% for deposits having a tenure of 6 months 1 day to 9 months and 9 months 1 day too but a year.

For deposits having a tenure of 1 year and 1 year 1 day to 2 years, the bank is offering an interest of 6.45%. HDFC Bank is offering customers 6.85% on deposits which are opened for a period of two years 1 day to three years while for deposits having a tenure of three years 1 day to 10 years, the interest offered in 6.75%. Senior citizens are offered an additional interest of 0.50% on all FD tenures.

Features of HDFC Fixed Deposits

•  You can avail loans and credit cards through HDFC FD with 90% of the FD as loan and credit cards at minimal interest rates.
•  Online benefits like booking an FD, appoint nominees, liquidate deposits, and consider fixed deposit advice.
•  You could earn interest by reinvesting your principal alongside the interest amount earned during the FD period.
•  Avail Sweep-in facility wherein you'll transfer money to your savings or accounting from your FD if the balance in your savings or accounting goes below a particular limit.
•  Avail Super Saver facility to require advantage of the funds in your savings or accounting wherein you'll opt between a savings or accounting to link it to your FDs and utilize an overdraft facility for your requirements.

 HDFC NRI Fixed Deposit

•  Multiple sorts of FDs to fit your needs.
•  The minimum deposit amount is Rs.25,000 for a fresh or new account, while it’s Rs.10,000 for add-ons.
•  Interest and principal are fully repatriable.
•  You can enjoy an Overdraft in NRO savings or current accounts of up to 90% of the FD amount.
•  Tenure of a minimum of 1 year and a maximum of 10 years.
•  Interest amount earned is exempted from tax in India.