HDFC Fixed Deposit – Types, Eligibility, Documents

HDFC Bank is India’s largest private bank. HDFC Bank offers fixed deposits to its customers with attractive interest rates. The fixed deposit tenure ranges from 7 days to 10 years.

In this article, we will talk about types of HDFC Fixed Deposits. We will also cover eligibility and documents required to open an HDFC Fixed Deposit.

HDFC Regular Fixed Deposit

HDFC Regular Fixed Deposit is like regular fixed deposits provided by other popular banks. HDFC offers attractive interest rates on these FDs.

Features:

  • Senior citizens (above the age of 60 years) get a 0.75% higher rate of interest on fixed deposits.
  • You can start HDFC Regular Fixed Deposit with a minimum amount of Rs.5000.
  • Earn compound interest after investing your earned interest on HDFC fixed deposit.

Eligibility:

  • Residents
  • Hindu undivided families
  • Sole proprietorship firms
  • Partnership firms
  • Limited companies
  • Trust accounts

Documents:

Here is the list of documents required to open HDFC fixed deposit.

  • Recent photograph
  • KYC documents

Individual & Company proofs:

  • PAN card
  • Aadhaar Card
  • Passport
  • Driving License
  • Voter’s ID

Partnership proofs:

  • Incorporating certificate
  • Authorized signatories’ ID proofs
  • Partnership Deed
  • Authorized signatories’ signatures

Hindu Undivided Family:

  • Self-attested PAN card
  • HUF declaration deed
  • HUF’s Bank Statement

HDFC SuperCover Fixed Deposit

With HDFC Bank SuperCover FD, customers get an insurance cover equivalent to their FD amount with interest on their Fixed Deposit.

Features:

  • Minimum FD Amount: You can deposit a minimum fixed deposit of Rs.2 lakh for this FD scheme.
  • Maximum FD Amount: You can deposit a maximum of Rs.10 lakh for HDFC Bank SuperCover Fixed Deposit.
  • Tenure: Tenure ranges from 1 year to 10 years.
  • Interest: Interest payable to the customer is the same as of the Regular Fixed Deposit.
  • Payouts: You can earn interest on your fixed deposit with monthly and quarterly payouts.
  • Overdraft: Customers can get overdraft up to the value of 90% of the Fixed Deposit.

Eligibility:

  • Resident individual
  • Your age should be in between 18 to 50 years.

HDFC Bank HealthCover FD

With HDFC Bank HealthCover FD, customers get insurance coverage with interest on their Fixed Deposit.

The health insurance will be valid for 1 year.

Features:

  • Minimum FD Amount: You can deposit a minimum fixed deposit of Rs.5 lakh.
  • Maximum FD Amount: You can deposit a maximum of Rs.1.9 crore for HDFC Bank HealthCover Fixed Deposit.
  • Tenure: Tenure ranges from 1 year to 10 years.
  • Interest: Interest payable to the customer is the same as of the Regular Fixed Deposit.
  • Payouts: You can earn interest on your fixed deposit with monthly and quarterly payouts.

Eligibility:

    • Resident individual
    • Your age should be in between 18 to 59 years.

HDFC Five Year Tax Saving Fixed Deposit

This scheme is for the purpose of Tax Savings, you can save on tax in a financial year under section 80C of the Income Tax Act.

Features:

  • Minimum FD Amount: You can deposit a minimum fixed deposit of Rs.100 and thereafter multiply by Rs.100.
  • Maximum FD Amount: You can deposit a maximum of Rs.1.5 lakh per annum for HDFC Bank Tax Saving Fixed Deposit.
  • Tenure: There is a lock-in period of 5 years.
  • Interest: Interest payable to the customer is the same as of the Regular Fixed Deposit.
  • Payouts: You can earn interest on your fixed deposit with monthly and quarterly payouts.

Eligibility:

    • Resident individual
    • Hindu Undivided Family

HDFC FCNR Fixed Deposit

Customers can earn interest on their foreign income after opening FCNR Fixed Deposit.

You can deposit any one of the 6 currencies – US Dollars, Pounds Sterling, Euro, Japanese Yen, Australian Dollars, and Canadian Dollars.

Features:

  • Repatriation: You can repatriate all your principal and interest in full.
  • Tax: Tax exemption on the entire deposit.
  • Joint Account: Customers can open a joint accounts with other NRIs.
  • Nomination: A nomination facility is also available on FCNR Fixed Deposit.
  • Tenure: FD tenure ranges from a minimum of 1 year to a maximum of 5 years.
  • Minimum FD Amount: USD 1,000, GBP 2,500, Euro 2,500, JPY 7,50,000, AUD 1,000, CAD 1,000.

Eligibility:

  • NRI of Indian Origin

HDFC Overdraft Against Fixed Deposit

You can fulfill your financial needs without breaking your FD.

Features:

  • Overdraft: Overdraft facility up to 90% value of the fixed deposit.
  • Minimum Amount: A minimum FD of Rs.25,000 is required to avail of an overdraft facility.
  • Tenure: Minimum tenure of 6 months and 1 day is required to avail of this facility.

Eligibility:

  • Resident Individuals
  • Hindu Undivided families
  • Private & Public limited companies

HDFC Non-withdrawal Fixed Deposit

In HDFC Non-withdrawal Fixed Deposit, you invest your money for a fixed period of time.

This FD gives you better returns than a normal FD.

Features:

  • Minimum  FD Amount: You can deposit a minimum fixed deposit of Rs.2 Crore.
  • Tenure: Tenure ranges from 1 year to 10 years.
  • Payouts: You can earn interest on your fixed deposit with monthly and quarterly payouts.
  • Overdraft: Customers can get overdraft up to the value of 90% of the Fixed Deposit.

Eligibility:

  • Residents
  • Hindu undivided families
  • Sole proprietorship firms
  • Partnership firms
  • Limited companies
  • Trust accounts

HDFC Fixed Deposit Plan FAQs

What is the minimum amount for a fixed deposit in HDFC Bank?

The minimum amount to open an HDFC Bank Fixed Deposit is Rs.5000.

What documents are required to open an FD account in HDFC Bank?

Here is the list of documents required to open an HDFC Fixed Deposit.

  • Recent photograph
  • KYC documents

Individual & Company proofs:

  • PAN card
  • Aadhaar Card
  • Passport
  • Driving License
  • Voter’s ID

Partnership proofs:

  • Incorporating certificate
  • Authorized signatories’ ID proofs
  • Partnership Deed
  • Authorized signatories’ signatures

Hindu Undivided Family:

  • Self-attested PAN card
  • HUF declaration deed
  • HUF’s Bank Statement

What is the FD rate of HDFC Bank?

HDFC Fixed Deposit ranges from 3% to 7% per annum.

All About Home Loan with HDFC Bank
HDFC Home Loan Rates and Types
HDFC Customer Care Number
HDFC Home Top-up Loan

3 thoughts on “HDFC Fixed Deposit – Types, Eligibility, Documents”

  1. Itís hard to find experienced people about this topic, but you seem like you know what youíre talking about! Thanks

    Reply
  2. Excellent post. I was checking continuously this weblog and I’m impressed!

    Extremely helpful information specifically the last
    part 🙂 I handle such info a lot. I was looking for this particular info for a long time.
    Thank you and good luck.

    Reply

Leave a Comment