HDFC FD Review for Resident Indians and NRIs-| North Loop Official Blog
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04 Sep 2020

HDFC FD Review for Resident Indians and NRIs-

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HDFC Bank- Background and Overview-

HDFC Bank Limited is an Indian banking and financial services company. It is one of the largest private sector banks in the country and has its headquarters in Mumbai, Maharashtra.
HDFC bank has millions of customers in India and has more than 5,314 branches across 2,768 cities spanning the length and breadth of the country.

HDFC offers various investment schemes for Resident Indians as well as Non-Resident Indians (NRI)s. Some of them are: Portfolio Investment Schemes, Offshore Investments, Equities and Derivatives, Depository Services, etc.

HDFC FD Interest Rates:

Before moving onto the HDFC bank FD rates, more emphasis needs to be placed on what fixed deposit means and how it can benefit customers of financial institutions.
Fixed Deposit (FD) is the type of investment instrument or scheme wherein customers deposit a lump-sum amount (be it a small or large amount) to their financier, upon which they decide a lock-in period or tenure. After deciding the lock-in period, the bank, in accordance with their Fixed Deposit scheme pays a fixed interest rate on the deposit depending on the tenure of the FD.
The tenures vary from bank to bank but conventionally, banks follow a lock-in period ranging from 1 year to 10 years.
Given below are the HDFC FD rates for Indian Residents and Non-Resident Indians (NRI)s. Fixed deposit tenures vary from 7-14 days all the way up to 5-10 years in the case of Indian Residents. And in the case of Non-Resident Indians (NRI)S, Fixed deposit tenures vary from a minimum of 1 year all the way up to 5-10 years.

The revised and updated Interest Rates deposits below Rs. 2 crore, as well as >=2 crore and <=5 crore, are as follows:
Profile image2: HDFC FD Interest Rates:
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Updated Domestic / NRO / NRE FIXED DEPOSIT RATE
(Senior Citizen Rates do not apply to NRIs | Minimum tenor for NRE Deposit is 1 Year.)
Period< 2 Crore>=2 Crore to < 5 Crores
Interest Rate (per annum)Senior Citizen Rates (per annum)Interest Rate (per annum)Senior Citizen Rates (per annum)
7 - 14 days2.50%3.00%2.50%3.00%
15 - 29 days2.50%3.00%2.50%3.00%
30 - 45 days3.00%3.50%2.75%3.25%
46 - 60 days3.00%3.50%2.75%3.25%
61 - 90 days3.00%3.50%3.00%3.50%
91 days - 6 months3.50%4.00%3.00%3.50%
6 mnths 1 days - 9 mnths4.40%4.90%3.50%4.00%
9 mnths 1 day < 1 Year4.40%4.90%3.75%4.25%
1 Year5.10%5.60%4.00%4.50%
1 year 1 day - 2 years5.10%5.60%4.00%4.50%
2 years 1 day - 3 years5.15%5.65%4.25%4.75%
3 year 1 day- 5 years5.30%5.80%4.25%4.75%
5 years 1 day - 10 years5.50%6.25%*4.25%5.00%*

HDFC Bank FD- Eligibility Criteria-

NRI: You are eligible if you are a non-resident individual of Indian nationality or of Indian origin.

Below are the individuals and groups eligible for a Regular Fixed Deposit-
Residents, Hindu undivided families, Sole proprietorship firms, Partnership firms, Limited companies, Trust accounts.

HDFC Bank FD- Documentation-

Indian Residents-
  • Recent photograph
  • KYC documents


Individual & Company proofs-

  • Pan Card
  • Aadhaar Card
  • Passport
  • Driving License
  • Voter’s ID


NRI-

  • Self-attested copies of passport (first and last four pages of the passport)
  • Valid work permit/ employment visa, Residence visa/ Residence permit
  • Valid address proofs (Indian and overseas)

HDFC FD Rates- Reviews:

Given above are the compiled list of user reviews of the Fixed Deposit schemes offered by HDFC BANK-
What can be inferred from the above is that a lot of people choose HDFC Bank FDs over other options because HDFC offers a slightly higher rate of interest on deposits compared to its competitors. But the risk is on the slightly higher side in this case than public sector banks which may offer slightly lower interest rates but prove to be a safer and more reliable choice.

North Loop provides seamless investment services pertaining to Fixed Deposits and a whole lot more. North Loop offers competitive interest rates for Indian Residents and Industry-leading interest rates for NRIs with bare minimal documentation, swift and seamless account opening procedure, minimal and transparent fees, and an option of overdraft up to 80%. Make the most of the opportunity. Invest in fixed deposits with North Loop and grow your savings. Sign up today.

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This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended be advice. You must obtain professional advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax, investment or other professional advice from North Loop or its affiliates. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date. All opinions expressed do not reflect the views of North Loop nor are endorsed by North Loop.