HDFC Bank has gained popularity as a private bank in India. The bank is interconnected very strongly with the online real time link among its all branches.
It provides its customers with many facilities such as net banking, SMS banking, phone banking and mobile banking.
The customers can get the updates about the status of their FD accounts
The customers can choose from the different options for interest payout. By choosing from these options, an income stream can be created as per their financial needs.
People who want regular income on monthly basis via their FD accounts to fulfill their recurring and monthly expenses, can go for this option.
People who want to reinvest the compounder sum at the quarter's end, can choose this option. This is also a good option for the retired people who want a fixed amount quarterly.
Lump Sum Payout Option (Payment is done on when FD is matured)
This is the most popular payout option that allows the customer to use accrued money for new investments such as property purchasing, college education or for reinvesting.
Below given groups and individuals can open an FD with the bank:
To open the account in the bank, just visit your nearest branch or download the form available online and fill the form.
Now submit the form, required documents and the amount in the bank and your FD account will be opened.
The bank provides very lucrative interest rates to the customers. The customers can choose from different tenures with interest rates that suit their requirements.
The customers earn higher interest on medium term and long term FDs than shorter term FDs when the interest is frequently compounded.
An Indian resident is offered an interest rate of 8.75% per annum which is compounded every quarter.
An individual is offered an interest rate of nearly 8.25% per annum for the vested property having a term of nine months or above and 8% for the period of four to six months.
And if the tenure is two or three months, he/she will get an interest rate of 7.75% per annum with extra liquidity advantage. If he /she want the maximum liquidity available, then a period of one month will offer him/her an interest rate of 6%.
Five thousand rupees
In case the amount invested in an FD crosses fifty thousand rupees, then the customer has to produce his/her PAN card operative since April 1, 2010.
Minimum- one week
Maximum- ten years
366 days - 6.75 %
2 years - 6.75 %
3 years- 6.5 %
These rates can be changed by the bank any time. So, one should be updated about the rates before applying.
One week - 4.25 %
60 days to 89 days - 6.05 %
365 Days - 7 %
731 Days - 6.75 %
37 to below 48 months - 6.50%
One to two years
Two to three years
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