HDFC Bank pays interest rates to the tune of 3.50-6.90 per cent to customers on fixed deposits up to Rs 2 crore. These fixed deposits, also known as retail term deposits, are available in 13 maturity options ranging from seven days to 10 years at the country's largest bank by market value. HDFC Bank pays slightly higher returns to senior citizen retail depositors compared to other customers. For example, on a fixed deposit up to Rs 2 crore of one year, HDFC Bank pays interest at the rate of 6.80 per cent to senior citizen customers and 6.30 per cent to other customers, according to its website - hdfcbank.com. (Also Read: Compare Bank FD Rates Paid By Peers Here)
HDFC Bank pays the following interest rates on retail fixed deposits:
HDFC Bank Fixed Deposit Rates
| Maturity Period | Interest Rate (With Effect From November 16) | |
|---|---|---|
| Public | Senior Citizen | |
| Seven to 14 days | 3.50% | 4.00% |
| 15 to 29 days | 4.00% | 4.50% |
| 30 to 45 days | 4.90% | 5.40% |
| 46 to 60 days | 5.40% | 5.90% |
| 61 to 90 days | 5.40% | 5.90% |
| 91 days to six months | 5.40% | 5.90% |
| Six months and one day to nine months | 5.80% | 6.30% |
| Nine months and one day to less than one year | 6.05% | 6.55% |
| One year | 6.30% | 6.80% |
| One year and one day to two years | 6.30% | 6.80% |
| Two years and one day to three years | 6.40% | 6.90% |
| Three years and one day to five years | 6.30% | 6.80% |
| Five years and one day to 10 years | 6.30% | 6.80% |
| (Source: hdfcbank.com) | ||
(HDFC FD Interest Rates: On fixed deposits of two years, HDFC Bank gives a 6.80 per cent return to senior citizens and 6.30 per cent to other customers, according to its website)
Investment in fixed deposits with a maturity period of five years offers income tax benefit up to Rs 1.5 lakh per financial year under Section 80C of the Income Tax Act. Interest income, however, is subject to income tax.
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