When you open a Fixed deposit with HDFC Bank
- Your interest is calculated on a quarterly basis for deposits of 6 months and above
- For those deposits with a tenure of below 6 months, your interest is calculated at maturity as Simple Interest. The period of Fixed Deposit is calculated in number of days.
- Interest for re-investment is calculated every quarter, and the Principal is increased to include interest earned during the previous quarter.
Tax at source is deducted as per the Income Tax regulations prevalent from time to time.
Note: “As per the Terms & Conditions of Fixed Deposit Accounts of the bank, the penalty on premature closure of Fixed Deposits including sweep-in and partial closures has been fixed by the Bank at the rate of 1%.” This will be applicable with effect from 24th January 2011.
Interest rates are subject to change from time to time. Applicable interest rates will be given as on the date / time of receipt of the funds by the bank. When booking FD through NetBanking please note the actual interest rate being applied on the “Confirm” screen. This screen appears before you confirm your request for opening a new FD. In order to see the latest information, we request you to clear your browsers cache to see the updated interest rates.
DOMESTIC TERM DEPOSITS
Deposits below 1 Cr
- Interest rates are subject to change from time to time. Applicable interest rates will be given as on the date of receipt of the funds by the bank. When booking FD through NetBanking please note the actual interest rate being applied on the “Confirm” screen. This screen appears before you confirm your request for opening a new FD.** Only Senior Citizens / Retired Personnel (60 years and above) who are Resident Indians are eligible. The special rates are applicable only for INR deposits.
*** The FD rate applicable for a monthly interest option will be a discounted rate over the standard FD Rate. Please contact the nearest Branch for further information.
**** For interest rates on Fixed Deposits for Rs.1 Cr and above, please contact your nearest HDFC Bank branch or your Relationship Manager.
- Effective 01st Dec’06, the interest rate applicable for premature closure of deposits (all amounts) will be lower of : The base rate for the original/contracted tenure for which the deposit has been booked OR The base rate applicable for the tenure for which the deposit has been in force with the Bank.
- The base rate is the rate applicable to deposits of less than Rs.1 Cr as on the date of booking the deposit. For deposits > 5 Crs, the base rate is the rate applicable for 5 Cr deposits as on the date of booking the deposit.For such premature withdrawals, including sweep-ins and partial withdrawals, the Bank will levy a penalty of 1%, on the applicable rate.
- The Fixed Deposit Advice will be dispatched to your recorded mailing address within 3-4 working days of account opening.