Fixed Deposit Interest Rate FAQs
Can I get monthly interest on FD?
You can opt for a monthly interest payout option with your FD. This option provides a regular income stream by disbursing a portion of the interest earned each month.
Is FD tax free?
Fixed Deposit interest is taxable. The interest earned on FDs is added to your total income and taxed based on your applicable income tax slab.
When can I receive my FD interest payouts at HDFC Bank?
When you open a Fixed Deposit account at HDFC Bank, you can choose the intervals at which you would like to receive interest payouts. With the HDFC Bank Fixed Deposit, you can choose to receive your interest payouts on a monthly, quarterly or on maturity.
Does HDFC Bank offer Re-investment Fixed Deposit?
Yes, at HDFC Bank, you can opt for a Re-Investment FD wherein you can earn compound interest. The cumulative interest earned for the quarter is then added to the principal amount in the subsequent quarter and the interest is calculated on the total amount.
Does TDS apply to interest earned via an FD?
Yes, at HDFC Bank, TDS (Tax Deducted at Source) is deducted from your FD earnings. However, as per the Income Tax Act, 1961, TDS is only deducted from your FD earnings when the interest from all your FDs cross a threshold of ₹ 40, 000 in a financial year.
If the interest earned is not sufficient to recover TDS, then the same is collected from the principal amount of the FD. If you have chosen to receive payouts every month or quarter then TDS will be recovered from the linked Current/Savings Account.
Does HDFC Bank offer a tax-saving FD option?
Yes, at HDFC Bank, you can also choose to invest in a Five Year Tax-Saving Fixed Deposit. You can invest your savings and get guaranteed returns. Additionally, you can also save tax under Section 80C of the Income Tax Act, 1961.
Can you prematurely withdraw from an FD?
Yes, you can prematurely withdraw from an FD at HDFC Bank. However, whether you opt to prematurely close the FD or go with the sweep-in facility, premature liquidation charges will be applicable as per standard policy.
Does HDFC Bank offer any FDs for senior citizens?
Yes, at HDFC Bank, you can specifically choose the Senior Citizen Care FD for the elderly in your life. An Additional Premium of 0.25% (over and above the existing premium of 0.50%) shall be given to Senior Citizens who wish to book the Fixed Deposit less than 5 crores for a tenure of 5 (five) years One Day to 10 Years, during special deposit offer commencing from 18th May'20 to 7thNovember’23. This special offer will be applicable to new Fixed Deposit booked as well as for the Renewals, by Senior Citizens during the above period. Do note that this offer is not applicable to Non-Resident Indian.
Can I book an FD at HDFC Bank via NetBanking?
Yes, you can book an FD at HDFC Bank via NetBanking facilities. However, to do so, you must have the financial transactional rights to use the facility in the first place. You will also have to ensure that the information required to access your NetBanking services is up to date.
What is the maximum FD limit?
