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HDFC Bank Fixed Deposit Scheme

The HDFC Bank fixed deposit schemes are very good and highly rated. The bank offers many benefits and features that make the FDs highly attractive and popular among investors. Take a look at this article to know more about the HDFC fixed deposit interest rates and the other features of the FD too.

Features of the HDFC fixed deposit scheme

Here are the top features of the FD schemes available from HDFC Bank in India:

 1. Assured returns

One of the handiest features of the HDFC fixed deposits is that they offer assured returns. Many other forms of investments factor in the risk factor and so the assurance of earning returns is much lower. In an FD from a reliable bank like HDFC, you get assured returns every time you invest your hard-earned money.

2. Fixed interest rate

The HDFC Bank fixed deposit rates are fixed. As a result, you get assured dividends. There is no uncertainty and this allows you to invest with a lot of peace of mind. The HDFC fixed deposit rates start at 2.5% and go up to 6.25%. The duration of the fixed deposit determines the rate of interest. For resident Indians, less than 60 years of age, the current rate of interest as of 30-Nov-2021 is 2.5% for shorter tenure which can go up to 5.5% for a fixed deposit of 5 years or more. For senior citizens more than 60 years of age, the rate of interest goes up to 6.25% for 5 years or more. The longer the fixed deposit is for, the higher the rate of interest you get.

The rate of interest depends on multiple factors:

    1. HDFC Bank Fixed Deposit Interest Rate for < INR 5CR
    2. HDFC Bank Fixed Deposit Interest Rate for >= INR 5CR
    3. HDFC Bank Non- Withdrawal Fixed Deposit Rates >= 5CR
    4. FCNR And RFC Deposit Rates
    5. Recurring Deposit Interest Rates

 

3. Safe and risk-free

Fixed deposit investments are considered to be very safe and risk-free. The other types of investments, such as mutual funds and equity investments carry a considerable amount of risk. The success of the investment largely depends on the market conditions. However, since the HDFC fixed deposit interest rates are fixed, you get assured returns and the risk is minimised.

4. Higher rates for senior citizens

Another very handy benefit of the HDFC Bank fixed deposit scheme is that a higher rate of interest is available for senior citizens who wish to open an FD account with the bank. This is very useful as senior citizens don’t have a regular salary and mainly live off their pensions. Earning a higher dividend from their investments such as their fixed deposits prove to be very advantageous for them.

5. Digitally available

And finally, the fixed deposit schemes from HDFC Bank are available online. This is a very good feature and makes it simple for you to instantly start an FD as and when you need to do so. You can start the fixed deposit scheme by clicking a few buttons and your mobile device. It can be done via HDFC Bank’s mobile banking app or website in just a couple of minutes.

In fact, you can start a fixed deposit with HDFC Bank by using your mobile number only. This is UPI Linked. From the net banking you need to click on Transact and then start your FD online.

Also, you can use very handy online tools such as the HDFC fixed deposit calculator on the website or app to check your returns and make a correct assumption of your earnings from the investment. These features make the fixed deposit from HDFC Bank highly beneficial.

Advantages of the HDFC fixed deposit schemes

1. High rates of interest

The HDFC Bank fixed deposit rates are among the highest in India. This allows you to earn high returns and multiply your wealth at a faster rate. It is therefore a very good idea for you to open your fixed deposit account in HDFC Bank. The bank is very transparent in its dealings also which makes it safe for your transactions.

2. Assured income

If you wish to have an investment that will offer assured earnings, an FD from HDFC Bank is a great platform for it. The dividends you earn can be withdrawn on a regular basis and that can act as a steady income for you.

3. Easy to renew or withdraw

If you wish to renew your FD after it comes to the end of its tenure, you can do so quite easily using the digital platform or by visiting a branch of HDFC Bank. Alternatively, if you wish to withdraw the maturity amount and close the fixed deposit after it matures, that also can be done with ease.

Keeping these benefits in mind, it can safely be said that the HDFC fixed deposit scheme is among the best FD schemes in the country.

Conclusion

As you can clearly see from the points mentioned above, the HDFC fixed deposit interest rates are among the best in the country. This is why many people open their FD accounts with HDFC Bank. If you too are looking to start a fixed deposit, consider the HDFC fixed deposit scheme and you will surely get many beneficial features to choose from.

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