HDFC Bank Fixed Deposit (FD) Interest Rates 2023

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HDFC FD Interest Rates for Senior Citizens & Non-Senior Citizens

Tenor	HDFC Non-Senior Citizen FD Interest Rates	HDFC Senior Citizen FD Interest Rates
7 days to 14 days	3.00% per annum	3.50% per annum
15 days to 29 days	3.00% per annum	3.50% per annum
30 days to 45 days	3.50% per annum	4.00% per annum
46 days to 60 days	4.50% per annum	5.0% per annum
61 days to 89 days	4.50% per annum	5.00% per annum
90 days to 6 months	4.50% per annum	5.00% per annum
6 months and 1 day to 9 months	5.75% per annum	6.25% per annum
9 months and 1 day to less than 1 year	6.00% per annum	6.50% per annum
1 year to 15 months	6.60% per annum	7.10% per annum
15 months to less than 18 months	7.10% per annum	7.60% per annum
18 months to less than 21 months	7.00% per annum	7.50% per annum
21 months to 2 years	7.00% per annum	7.50% per annum
2 years and 1 day to 3 years	7.00% per annum	7.50% per annum
3 years and 1 day to 5 years	7.00% per annum	7.50% per annum
5 years and 1 day to 10 years	7.00% per annum	7.75% per annum

Note: The above interest rates are with effect from February 21, 2023 and are applicable for retail domestic fixed deposits of less than ₹2 Crores. They are subject to change from time to time depending on the bank’s policies.

Deposit Amount

₹

Tenure

Months

Interest Rate

Interest Payout

Your Total Maturity Amount is

Total Investment

Total Interest Earned

Features and Benefits of a HDFC Bank Fixed Deposit

Low Minimum Investment

All that you need to start a fixed deposit account with HDFC Bank is a minimum investment of just ₹5,000.

Hassle-Free Application Process

Applying for a HDFC Bank FD is super simple and takes only a few minutes. You can do it online through the internet banking portal at your own convenience.

Flexibility

HDFC Bank fixed deposit plans are very flexible in terms of the tenor. Based on your preference, you can choose a tenor ranging from 7 days to 10 years. However, the HDFC Bank FD rates may vary depending on the tenor you choose.

Tax Benefits

You can claim up to ₹1.5 Lakhs per financial year as deductions under section 80C of the Income Tax Act, 1961 by opting for the tax-saving FD with a tenor of 5 years.

Quick Liquidation

HDFC Bank FDs can be instantly liquidated and the funds used to meet your emergency fund requirements. That said, there’s a small penalty ranging from 0.5% to 1% for early withdrawal of the FD.

Overdraft Facility

With the HDFC Bank fixed deposit, you can avail an overdraft facility on your savings account to the tune of 90% of the total maturity value of the deposit.

HDFC Bank FD Interest Rates for Senior Citizens and Others for 5 Years

HDFC Bank FD rates tend to be different for different tenors. That’s not all. It may also change depending on whether you’re a non-senior citizen or a senior citizen. Here’s a table that gives you a good idea of the interest and the maturity earned on a fixed deposit of ₹1 Lakh over different tenors. If you wish to, you can determine these values yourself by using a HDFC Bank FD calculator as well.

Tenor	Non-Senior Citizen			Senior Citizen
Tenor	Interest Rate (p.a)	Interest Earned	Maturity Amount	Interest Rate (p.a)	Interest Earned	Maturity Amount
1 year	6.60%	₹6,765	₹1,06,765	7.10%	₹7,291	₹1,07,291
2 years	7.00%	₹14,888	₹1,14,888	7.50%	₹16,022	₹1,16,022
3 years	7.00%	₹23,144	₹1,23,144	7.50%	₹24,972	₹1,24,972
4 years	7.00%	₹31,993	₹1,31,993	7.50%	₹34,611	₹1,34,611
5 years	7.00%	₹41,478	₹1,41,478	7.50%	₹44,995	₹1,44,995

Note: The above interest rates are with effect from February 21, 2023 and are applicable for retail domestic fixed deposits of less than ₹2 Crores. The rates are subject to change from time to time depending on the bank’s policies.

Eligibility Criteria and Documents Required for Opening an FD in HDFC Bank

To open a fixed deposit with HDFC Bank, you will have to satisfy certain eligibility criteria. In addition to that, you will also have to submit a few documents along with the FD opening form too. Here’s a quick look at both the criteria and the list of documents.

Eligibility Criteria

The following entities and individuals are eligible to open an HDFC Bank FD.

Resident Indian individuals
Non-Resident Indian individuals
Hindu Undivided Families
Partnership firms
Sole proprietorship firms
Associations, trusts and societies
Limited companies

Documents Required

The following documents will have to be submitted as part of the FD account opening process.

A recent passport size photograph
Identity Proof documents - PAN, Aadhaar, Passport, Driving Licence or Voter’s ID
Address Proof documents - Aadhaar, Driving Licence, Voter’s ID or Passport
In the case of a partnership firm - Partnership Deed and identity and address proofs of authorised signatories or partners
In the case of a Limited company - Incorporation Certificate, Memorandum of Association, Articles of Association and identity and address proofs of authorised signatories
In the case of a Hindu Undivided Family - PAN card attested by the Karta, HUF declaration deed and bank statement of the HUF

How to Open an FD in HDFC Bank

Opening a fixed deposit account with HDFC Bank is extremely easy and takes only a few minutes. The application process can be completed via the internet banking portal of the bank. Here’s a step-by-step guide to help you invest in a HDFC Bank fixed deposit.

Step 1: Visit the HDFC Bank internet banking portal.
Step 2: Log into your account using your user credentials.
Step 3: Click on the ‘Transact’ option on the left sidebar.
Step 4: Click on ‘Open Fixed Deposit’.
Step 5: Specify details such as the type of FD, the savings account, the deposit amount, the nature of deposit, the tenor, maturity instructions and interest payout, among other things.
Step 6: Submit the application to book a fixed deposit with HDFC Bank.

Alternatively, you can also open a fixed deposit account with HDFC Bank by visiting any one of the bank’s branches. You will be required to manually fill and submit an FD account opening form along with the supporting documents to the bank’s representative.

Conclusion

As you can see, investing in a HDFC Bank fixed deposit plan is one of the best investment decisions that you can make. In addition to high HDFC Bank FD rates, you also get the benefit of premature withdrawal and the ability to avail a loan, among other things.

Now, if you’re planning on opening a fixed deposit account with the bank in the near future, remember to use the HDFC FD interest calculator first. This nifty tool can help you plan your investment in a much better manner.

Fixed Deposit Rates for Other Banks
SBI FD Interest Rates	PNB FD Interest Rates	Union Bank FD Rates
Axis Bank FD Rates	Indusind Bank FD Rates	Bank of Baroda Fixed Deposit Interest Rate
ICICI Bank FD Rates	Canara Bank FD Rates	Bandhan Bank FD Rates
Kotak Bank FD Rates	Bank of India FD Rates	Karnataka Bank FD Interest Rates
IDFC First Bank FD Rates	RBL FD Rates	UCO Bank FD Rates
Indian Bank FD Rates	Federal Bank FD Rates	Central Bank FD Interest Rate
IDBI FD Interest Rates	Punjab and Sind Bank FD Rates	DCB Bank FD Rates
Bank of Maharashtra FD Rates	KVB FD Interest Rates	Utkarsh Small Finance Bank FD Rates
IOB FD Interest Rates	Ujjivan Bank FD Rates	Saraswat Bank FD Rates
AU Bank FD Rates	YES Bank FD Rates	-

Disclaimer

The information provided by BFDL herein above is related to the Non-Partnered Banks/ NBFCs and is just for the purpose of information and under no circumstances the information provided hereinabove is intended to be source of advice or recommending any financial investment advice or endorsement of any sort.

The information including interest rates with regard to fixed deposit, provided on this website is gathered through publicly available sources over the internet and is considered as accurate and reliable to the best of our knowledge. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers by the Non-Partnered Banks. The use of information set out is entirely at the User’s own risk and User should exercise due care prior taking of any decision, on the basis of information mentioned hereinabove. You are advised to visit/ contact the respective Banks/ NBFCs to verify the information before making any investment or opening an account. Further, BFDL does not undertake any responsibility or liability to update this information. YOU ARE SOLELY RESPONSIBLE FOR ANY LIABILITY OR DAMAGE YOU INCUR THROUGH ACCESS TO OR USE OF THE SITE OR SUCH INFORMATION OR MATERIALS EXCEPT WHERE THE LAWS AND REGULATIONS OF A PARTICULAR JURISDICTION CONCERNING WARRANTIES CANNOT BE WAIVED. Additionally, display of any trademarks, tradenames, logo and other subject matters of intellectual property owners. Display of such Intellectual Property along with the related product information does not imply BFDL’s partnership with the owner of the Intellectual Property of such products.

Latest HDFC Bank FD News

HDFC Bank hikes its fixed deposit interest rates across tenures

In order to align the interest rate on fixed deposits with the recent repo rate hike by Reserve Bank of India, HDFC Bank has hiked the interest rates applicable to its fixed deposits of less than Rs.2 crores on select tenures. It now offers 3% p.a. to 7.10% p.a. for non-senior citizens and 3.5% p.a. to 7.6% p.a. for senior citizens for tenures that range from 7 days to 10 years. The revised interest rates will be effective from the 21st February, 2023.

- Feb 23 , 2023

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Monthly Interest on FD

Yes, you can withdraw your FD amount before the completion of its term. However, it will attract a penalty of 0.50 - 1% on the accumulated interest. However, premature withdrawal is not possible in the HDFC Bank Tax Saver FD.

No. You cannot extend a HDFC Bank FD. However, you can opt to renew it for the same tenor before the fixed deposit matures. It can be conveniently done online using your netbanking account, via the HDFC Bank mobile app or by visiting the nearest branch office.

HDFC Bank allows you to pledge your FD in order to get a loan of up to 90% of the maturity amount. If you wish to get to know the exact maturity amount of your fixed deposit, you can always use an HDFC FD calculator.

There are different types of forms for an HDFC Bank FD account. This includes the FD account opening form, which is used to open the account, and Form 15G and Form 15H, which are used to claim exemption from TDS deduction.

By opting for an HDFC Bank Five-Year Tax-Saving FD, you can get tax benefits of up to ₹1.5 Lakhs under section 80C of the Income Tax Act, 1961.

As mandated by the government, 10% TDS is deducted on the interest earned on your HDFC fixed deposit if the interest in a financial year exceeds ₹40,000. If you’re a senior citizen, TDS is deducted only if the interest in a financial year exceeds ₹50,000. You can get to know how much interest you stand to earn from an FD in a year by using the HDFC Bank FD calculator.

TDS refunds (in case of deduction of additional or incorrect amount) can be claimed while filing the IT returns with the government. The refund process can be understood in detail by visiting the Income Tax website.

The refund processing and payout can take approximately 3 to 6 months before it is credited to your bank account.

Yes. You can nominate a family member or an acquaintance for an HDFC Bank FD. In fact, adding a nominee to your FD is highly recommended. The bank allows you to do this via online and offline methods.

Yes, HDFC bank offers a loan against FD to the tune of 90% of the maturity amount. The interest rate on such a loan is likely to be marginally higher than the prevailing HDFC Bank FD rates.

If you hold an active HDFC Bank fixed deposit, you can easily apply for a secured credit card from the bank. The card type and the nature of benefits will depend on the FD amount and other eligibility criteria.

The highest HDFC Bank FD rate on offer for non-senior citizens is 6.25% per annum on tenors ranging from 2 years and 1 day to 5 years. In the case of senior citizens, the maximum HDFC Bank FD rate on offer is 6.95% on tenors ranging from 5 years and 1 day to 10 years.

No. Once you’ve opened a fixed deposit account, you cannot add more funds to it. However, you can open a new FD account.

Yes. A non-HDFC Bank customer can open an FD online. However, they will have to visit an HDFC Bank branch to get the user credentials for their account.

Yes. In fact, there’s no limit to the number of HDFC Bank fixed deposit accounts that you can hold.

The minimum amount that’s needed to open a HDFC Bank FD is ₹5,000.

The minimum tenor of a HDFC Bank fixed deposit plan is 7 days, whereas the maximum tenor is 10 years.

The HDFC Bank FD rates for a deposit of ₹1 Lakh ranges from 3.00% p.a. to 7.25% p.a. depending on the tenor chosen. Furthermore, senior citizens also get an additional rate of 0.50% on the same.