HDFC Bank 2024 Interest Rate For FD, RD, Forex Calculator

HDFC Bank 2024 Interest Rate For FD- Over the past 25 years, HDFC Bank, the largest private sector lender by assets, has significantly altered the country’s financial services landscape. The bank has built a formidable banking franchise over the past two and a half decades by early spotting trends, making the necessary investments, incorporating lessons learned, and then expanding. The bank has 5,416 banking locations and is a major player in the credit card and payments industries. Its total deposit base was 11.5 crore rupees. The bank made 26,250 Cr in profits. with the lowest Non-Performing Asset percentage, 1.26 percent.

HDFC Bank has announced the interest rate for its FD products for the year 2024. The bank has decided to keep the interest rate at 7.25% for its Regular Savings, Regular Deposits, and Special Savings products. The interest rate for the Platinum Deposit product has been increased to 8.50%. HDFC Bank is offering an interest rate of 2.00% on FDs with a minimum deposit of ₹10,000. This is a significant reduction from the bank’s previous rate of 2.50%. The new interest rate applies to both saving and current accounts, and it is available on all savings products including Fixed Deposit, recurring deposit, and PPF. This offer is available until 2024.

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HDFC Bank 2024 Interest Rate For FD

With an HDFC Fixed Deposit, you can put your money to work for seven days to ten years and earn interest on the amount you put in. You can earn an annual FD interest rate of 7.0%. for a period of time ranging from more than five years to ten years. Senior citizens receive a yearly interest rate of 0.50 percent. for seven days to five years. Senior citizens are eligible for an additional rate of 0.75 percent per year for a tenure of more than five years and up to ten years.

The interest on HDFC Bank Fixed Deposits is a reliable and dependable source of income. To achieve steady income growth, you can choose a duration and amount. With Sweep-in and Super Saver Facilities, you can open an FD for as little as 5,000 yen and use it as a back-up for your savings or current account. It is simple and convenient to open or liquidate HDFC Bank Fixed Deposits whenever necessary.

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HDFC Bank 2023 Interest Rate For FD

HDFC Bank 2024 Interest Rate For FD Details

 Bank NameHDFC Bank
Article NameHDFC Bank 2024 Interest Rate For FD
Category  Trending
Official Website Click Here

About HDFC Bank

One of India’s largest private sector banks is HDFC Bank Limited. It is the third-largest company by market capitalization on Indian stock exchanges and has its headquarters in Mumbai, Maharashtra. HDFC offers a wide range of products and services, including wholesale banking, retail banking, a variety of loans, and credit cards. The bank also offers a variety of Fixed Deposit options to its customers, allowing them to store extra savings for a predetermined period of time and reap substantial returns. When opening an account with the bank, the depositor must make a single payment. The money will be protected for the specified amount of time, and interest will be paid out in accordance. During the term, no additional funds can be deposited, and no funds can be withdrawn.

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Features and Benefits of HDFC Fixed Deposit

  • Senior citizens receive a yearly interest rate of 0.50 percent.
  • over regular rates The HDFC bank minimum deposit for an FD account is Rs. The bank offers the 5000 Nomination facility.
  • With an FD account, the depositor can take advantage of attractive HDFC FD rates.
  • The FD account also offers the Sweep in and Super Saver facility.
  • The depositor can earn compound interest by reinvesting both the principal and the interest earned on the FD.

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Types of HDFC Fixed Deposits and Their Features

The Senior Fixed Deposits are ideal for investors who want long-term stability and guaranteed returns. These deposits offer fixed interest rates and generous withdrawal privileges, making them a great choice for those looking for a safe and secure place to invest their money. The Junior Fixed Deposits are also a great option for investors who want to gain exposure to the stock market but don’t want to commit to a long-term investment. These deposits offer lower interest rates than the Senior Fixed Deposits but allow for more frequent withdrawals, making them an ideal choice for those who want to take advantage of stock market fluctuations without having to worry about losing all their money in one fell swoop.

Regular Fixed Deposits

  • An investment is simple to make and offers high flexibility and security.
  • Interest rates are higher for seniors.
  • Net Banking allows you to open a deposit and select either monthly or quarterly payments.

HDFC Bank SureCover FD

  • The tenure ranges from one year to ten years,
  • with a minimum deposit of Rs. 2 lakh and a maximum deposit of Rs. 10 lakh.
  • The interest rates are the same as for a regular fixed deposit, and you can choose a monthly or quarterly interest payout.

Five Year Tax Saving Fixed Deposit

  • In a single fiscal year, the maximum deposit amount is Rs.1.5 lakh, with a minimum deposit of Rs.100 and multiples of Rs.100.
  • The term is locked in for five years.
  • The first holder of a joint deposit will be eligible for the Section 80c tax benefit.
  • When a financial year’s interest payments exceed Rs.40,000 (or Rs.50,000 for seniors), TDS will be deducted.
  • You will receive a TDS Certificate detailing the TDS deducted during each quarter of the financial year after the quarter’s end.

FCNR Deposits

  • You can open a fixed deposit in any of the following foreign currencies
  • US dollars, British pounds, euros, Japanese yen, Australian dollars,
  • Canadian dollars. You can open the deposit with other non-resident aliens.
  • You can use the nomination facility.

Overdraft Against Fixed Deposits

  • Your HDFC fixed deposit can cover up to 90% of your overdraft.
  • To qualify for the overdraft against FD/Super Saver facility, a single-name deposit must have a minimum deposit of Rs.25,000 and be held for at least six months and one day via Net Banking.

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Non Withdrawable Deposits

  • Premature or partial withdrawal of the fixed deposit is not allowed
  • You can opt for quarterly or monthly interest pay outs

HDFC Bank FD Interest Rates for Domestic Below Rs.2 Crore General Public

PeriodGeneral Public Rates (p.a.)
7 days to 14 days3.00%
15 days to 29 days3.00%
30 days to 45 days3.50%
46 days to 60 days4.50%
61 days to 89 days4.50%
90 days to 6 months4.50%
6 months 1 day to 9 months5.75%
9 months 1 day to less than 1 year6.00%
1 Year to 15 months6.60%
15 months to 18 months7.10%
18 months to 2 years7.00%
2 years 1 day to 3 years7.00%
3 years 1 day to 5 years7.00%
5 years 1 day to 10 years7.00%

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HDFC Bank FD Interest Rates for Domestic Below Rs.2 crore Senior Citizens

PeriodSenior Citizens Rates (p.a.)
7 days to 14 days3.50%
15 days to 29 days3.50%
30 days to 45 days4.00%
46 days to 60 days5.00%
61 days to 89 days5.00%
90 days to 6 months5.00%
6 months 1 day to 9 months6.25%
9 months 1 day to less than 1 year6.50%
1 year to 15 months7.10%
15 months to 18 months7.60%
18 months to 2 years7.50%
2 years 1 day to 3 years7.50%
3 years 1 day to 5 years7.50%
5 years 1 day to 10 years7.75%

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HDFC Bank FD Interest Rates for Domestic More Than Rs.2 crore and Less Than Rs.5 Crore General Public

PeriodGeneral Public Rates (p.a.)Senior Citizens Rates (p.a.)
7 – 14 days4.75%5.25%
15 – 29 days4.75%5.25%
30 – 45 days5.50%6.00%
46 – 60 days5.75%6.25%
61 – 89 days6.00%6.50%
90 days <= 6 months6.50%7.00%
6 mnths 1 day <=9mnths6.65%7.15%
9 mnths 1 day to < 1 Year6.75%7.25%
1 Year to < 15 months7.00%7.50%
15 months to < 18 months7.15%7.65%
18 months to < 21 months7.15%7.65%
21 months to 2 years7.15%7.65%
2 year 1 day to 3 years7.00%7.50%
3 year 1 day to 5 years7.00%7.50%
5 year 1 day to 10 years7.00%7.75%*

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HDFC FCNR Deposit Rates

1 year3.90%5.15%2.70%0.01%3.45%4.15%
1 year to 2 yearsN/A5.15%N/AN/A3.45%4.15%
2 years to 3 yearsN/A4.45%N/AN/A3.65%3.75%
3 years to 4 yearsN/A4.10%N/AN/A3.75%3.45%
4 years to 5 yearsN/A3.75%N/AN/A3.85%3.25%
5 years onlyN/A3.70%N/AN/A4.00%3.20%

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

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HDFC Fixed Deposit Premature Withdrawal

In the event of a premature closure, interest will be charged at the lower of the following rates:

The base rate that applies to the deposit’s original tenure; the base rate that applies to the deposit’s tenure with the bank; and the base rate that applies to all deposits that are less than Rs. 1 crore on the date that you book your deposit. The base rate for all deposits exceeding Rs. 5 crore will be Rs. 5 crore on the date you book your deposit. HDFC Bank will charge a penalty of one percent for both partial withdrawals and premature withdrawals, such as sweep-ins. Fixed deposits booked for a tenor of 7 to 14 days will not be subject to the penalty for early withdrawal.

How to Calculate HDFC Fixed Deposit Interest Rates

The amount, interest rate, tenure, frequency of interest calculation, and taxation all affect how much interest you earn on your FD. It’s simple and painless to figure out how much interest you’ve earned on your HDFC FD. Visit the HDFC FD calculator online to find out how much you can earn after maturity. To find the current interest rate, you can use a online interest calculator or speak with a financial advisor.

The amount of time that has passed since the last interest payment will depend on the type of HDFC Fixed Deposit that you are investing in. For example, regular fixed deposits tend to be paid once every month, while SBI Fixed Deposits are paid twice per month. Finally, you’ll need to know the amount of money that you are depositing to calculate your potential return. This information can be found on the back of your HDFC Fixed Deposit Certificate or on the website of your bank.

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