Latest HDFC Bank FD Interest rates – Oct-2016

Latest HDFC Bank FD IntHDFC FD Interest Rates; HDFC Fixed deposit rates, HDFC Bank FD Rateserest rates (Updated: Oct-2016)

HDFC bank is among a few of the largest private sector banks in India where investors trust. Latest HDFC FD Interest rates indicate that they are good for a short term of less than 1 year. However if you want to do FD for longer duration, there are several other large banks like SBI which are offering the highest interest rates. I thought I would provide a quick summary about latest HDFC Interest rates.

Below are the latest HDFC Bank FD interest rates for resident Indians, senior citizens and NRI's (Updated: Oct-2016).

1) HDFC FD Interest rates for ordinary residents for deposit of less than Rs 1 Crore

  • 61 – 90 days   –  6.25%
  • 91 days – 6 months   –  6.50%
  • 6 mnths 1 days – 9 mnths   –  6.75%
  • 9 months 1 days < 1 Year    7.00%
  • 1 Year    7.25%
  • 1 year to less than 2 Years    7.25%
  • 2 year to less than 3 Years    7.25%
  • 3 year to less than 4 Years    7.25%
  • 4 year to less than 5 Years    7.25%
  • 5 years and above – 7.25%

HDFC FD rates are good for short term. However SBI offers higher rates for 1 year and above comparing to HDFC bank.

  • Interest is computed on a quarterly basis
  • Premature penalty closure is 1% of bank FD rate.
  • You need to contact the bank for more than Rs 1 Crore deposits

2) HDFC FD Interest rates for Senior Citizens for deposit of less than Rs 1 Crore

  • 61 – 90 days   –  6.25%
  • 91 days – 6 months   –  6.50%
  • 6 mnths 1 days – 9 mnths   –  6.75%
  • 9 months 1 days < 1 Year    7.00%
  • 1 Year    7.25%
  • 1 year to less than 2 Years    7.25%
  • 2 year to less than 3 Years    7.25%
  • 3 year to less than 4 Years    7.25%
  • 4 year to less than 5 Years    7.25%
  • 5 years and above – 7.25%

You need to contact bank for more than Rs 1 Crore deposits.

3) HDFC Savings Account Interest rates – 4% per annum

4) HDFC FD interest rates for NRE SB Deposit – 4% per annum

5) HDFC fixed deposit rates for NRE Term Deposits

  • 1 year to less than 2 years – 8.75% (> Rs 1 Crore would get 9.00%)
  • 2 year to less than 3 years – 8.75%
  • 3 years to less than 4 years – 8.75%
  • 4 years to less than 5 years – 8.75%
  • > 5 years – 8.25%
  • No interest is paid if you withdraw NRE FD scheme within 1 year
  • No penalty will be levied on premature closure of NRE fixed Deposit

Also Read: Are you investing in these top tax saving FD Schemes?

6) HDFC FD Interest rates for NRO Term Deposits (< Rs 1 Crore)

  • 61 – 90 days   –  6.25%
  • 91 days – 6 months   –  6.50%
  • 6 mnths 1 days – 9 mnths   –  6.75%
  • 9 months 1 days < 1 Year    7.00%
  • 1 Year    7.25%
  • 1 year to less than 2 Years    7.25%
  • 2 year to less than 3 Years    7.25%
  • 3 year to less than 4 Years    7.25%
  • 4 year to less than 5 Years    7.25%
  • 5 years and above – 7.25%
  • Rs 1 Crore and above – Please contact branch

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Suresh
Latest HDFC FD Interest rates

Suresh KP

16 comments

  • nitin

    Hello Mr. Suresh,

    My bank says they deducts tax at source as per the Income Tax regulations prevalent from time to time. However, I would like to know, I should still be declaring all the FDs while filing the tax returns?

    • Hi Nitin, Bank will deduct 10% TDS on your bank FD if you have given PAN card, else the TDS would be 20%. When you are filing ITR, the first step (which started from last year) is getting the TDS certificate from TRACES which includes all taxes deducted by various bank on your bank FD’s and any income tax paid by your employer on your salary income. Now based on your income tax slab, you may need to pay only differential amount .e.g. If you have deposited Rs 100,000 in ICICI Bank and given PAN number. They would have paid you Rs 9,000 as bank interest, however deducted Rs 900 as tax and your cumulative interest amount would have been only Rs 8,100. Now when you file ITR and check the TRACES certificate, this Rs 900 would be there. Now if you are falling in 20% tax bracket, simply pay another Rs 900 on this bank FD interest as tax while filing ITR and then indicate the income tax reference number in ITR and file it.

  • Maheshwari

    Hello Suresh,

     

     I regularly follow your mutual fund advice..I would like to know more on Monthly Income Schemes/Plan..Can you please share some details on the same?

    Today i have a job and i am earning well but in case if i am fired, i need a secondary source of income month on month basis.How to create that as the details on MIS/MIP will help?

     

    Regards,

    Maheshwari

     

  • Vignesh

    I like to bring to your notice, one more valuable information, i seen recently. As i can see, among the Banks, Repco is providing its highest Interest, 10% for 1.5 Years for Women (Generally for all ages) and 9.6 for General public.

    I also came across a really different term in FD investment, which is the Floating Interest. They provide the longest term FD which is 5 – 20 years of FD, named Crown FD. The Initial Interest is 9.25.

    Hope this information helps us get even more better investment options from you. Looking forward. Bye.

    Regards,

    Vignesh. S

  • bakshi

    Why not indicate rates of HDFC Ltd alongside the rates of HDFC Bank for a quick comparison ? The Cummulative Int Rates / Platinum Deposit Rates of HDFC Ltd  are certainly better ! Do Check.

    • Agreed Bakshi. However bank to bank comparison I am already giving it. What you said is HDFC Ltd (company) Vs HDFC Bank (a bank) which may not be comparable though both are from same group.

  • Vignesh

    Hi Suresh,

    HDFC Also Provides 9.00% interest on specific tenures as below.

    1 year 1 day – 1 year 15 days

    9.00%

    9.50%

    August 17, 2013

    1 year 16 days

    9.00%

    9.50%

    August 17, 2013

    Regards,

    Vignesh. S

    • Thanks Vignesh for contributing such value added information.

      • Vignesh

        Hi Suresh,

         

        Thank you for your reply, and i really like all your analysis and your expertise in the Field of Investment. I felt as you being one of my best friends and my personal financial advisor. Thank you for all your ideas and thoughts.

         

        Regards,

        Vignesh. S

    • bakshi

      HDFC Platinum Deposit 15months : 9.60% / 9.85% Sr Citizen

      HDFC Regular Deposit   12 months : 9.25% / 9.50% Sr Citizen.

      Individuals in 30.9% Tax Bracket MUST CONSIDER Tax Free Bonds. IRFC and NHAI Issue is still open. The returns are upto 12.20% ; Tax Considered.

       

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