Features and Benefits
- Tenure - 5 years (lock in period)
- In the case of joint holder deposit, the deduction from income under section 80C of the Act shall be available only to the first holder of the deposit.
- Rate of interest – As per prevailing 5 yr deposit rate
- Monthly or Quarterly interest pay-out options
- Minimum Amount – Rs. 100
- Multiples of Rs. 100
- Maximum amount – Rs. 1 Lakh (in a FY)
Who is eligible?
- Resident individuals
- Hindu Undivided Families
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Fixed Deposit Interest Rates
Are you interested in opening a Fixed Deposit with HDFC Bank?
Here are a few things to know about Interest Rates:
- Your interest will be calculated on a quarterly basis. The interest for re-investment is calculated every quarter, and the Principal is increased to include interest earned during the previous quarter. Tax at source is deducted as per the Income Tax regulations prevalent from time to time.
- Something else to note – Tax at Source will be deducted according to Income Tax Regulations prevalent from time to time .
Rate of interest will be applicable as per prevailing 5 yr deposit rate.
Click here for FD rates.
***The FD rate applicable for a monthly interest option will be a discounted rate over the standard FD Rate. Please contact the nearest Branch for further information.
Tax Deductions For Re-investment Fixed Deposits
The following will be applicable for a 5 Year Tax Saving Fixed Deposit :
- TDS will be deducted when interest payable or reinvested per customer, per branch, exceeds Rs 10,000 in a financial year.
- A consolidated Annual TDSThis stands for Tax Deducted at Source, which means the tax you have to pay on your salary is already deducted and the net amount is received by you. Certificate will be mailed to you after the end of the financial year, including details of all TDSThis stands for Tax Deducted at Source, which means the tax you have to pay on your salary is already deducted and the net amount is received by you. deductions during the year. W.e.f Aug 09, applicable TDSThis stands for Tax Deducted at Source, which means the tax you have to pay on your salary is already deducted and the net amount is received by you. rates for Resident Indiviual &HUF is 10%
- If you are exempt from paying tax, you need to present Form 15G/H when you open a Fixed .Deposit and subsequently at the beginning of the following financial year.At the end of the financial year, the TDSThis stands for Tax Deducted at Source, which means the tax you have to pay on your salary is already deducted and the net amount is received by you. will be deducted on the basis of interest accrued on the Fixed Deposit (s) even if this interest has not been credited
Do you have more questions about TDSThis stands for Tax Deducted at Source, which means the tax you have to pay on your salary is already deducted and the net amount is received by you.? Just check the FAQs.
Important Notice
- As per section 206AA introduced by Finance (No. 2) Act, 2009 wef 01.04.2010, every person who receives income on which TDSThis stands for Tax Deducted at Source, which means the tax you have to pay on your salary is already deducted and the net amount is received by you. is deductible shall furnish his PAN, failing which TDSThis stands for Tax Deducted at Source, which means the tax you have to pay on your salary is already deducted and the net amount is received by you. shall be deducted at the rate of 20%(as against 10% which is existing TDSThis stands for Tax Deducted at Source, which means the tax you have to pay on your salary is already deducted and the net amount is received by you. rate) in case of Domestic deposits and 30.90% in case of NRO deposits
- Please further Note that in the absence of PAN, as per CBDT circular no:03/11, TDSThis stands for Tax Deducted at Source, which means the tax you have to pay on your salary is already deducted and the net amount is received by you. certificate will not be issued, form 15G/H and other exemption certificates will be invalid even if submitted and penal TDSThis stands for Tax Deducted at Source, which means the tax you have to pay on your salary is already deducted and the net amount is received by you. will be applicable.
Have questions?
Will the bank issue a TDS certificate?
You will receive a consolidated TDSThis stands for Tax Deducted at Source, which means the tax you have to pay on your salary is already deducted and the net amount is received by you. Certificate in Form 16A, for TDSThis stands for Tax Deducted at Source, which means the tax you have to pay on your salary is already deducted and the net amount is received by you. deducted during a financial year, in the month of April of the following financial year.
As a 5 Year Tax Saving Fixed Deposit holder, How do I apply for an exemption on TDS?
If your total interest income for the year does not fall within the overall taxable limits, you should let us know. You can do this by submitting a form as per the provisions of the Income Tax Act.
A few things to note:
- You can get the 15AA form from the Assessing Officer of the Income Tax department.
- Even with the 15H/15AA form, the tax that has already been deducted by way of TDSThis stands for Tax Deducted at Source, which means the tax you have to pay on your salary is already deducted and the net amount is received by you. during the year prior will not be refunded. However, you will get a certificate, which can be used while filing your tax return.
- 15H/15AA Forms are valid only for the financial year in which they are issued.
- A fresh 15G/H form needs to be completed for each deposit that is placed with the Bank, and it should be completed within the first week of the financial year.
Does any change or enhancement in my deposit portfolio affect TDS liability?
Yes. If the change or enhancement in your deposit portfolio earns a cumulative interestIt is the interest which is calculated not only on the initial principal but also the accumulated interest of prior periods. along with that of the earlier portfolio greater than Rs. 10,000/- you will be liable for TDSThis stands for Tax Deducted at Source, which means the tax you have to pay on your salary is already deducted and the net amount is received by you. on your current portfolio.
Note: If interest on the current portfolio is not sufficient to cover TDSThis stands for Tax Deducted at Source, which means the tax you have to pay on your salary is already deducted and the net amount is received by you., it will be recovered from the principal.
When am I liable for TDS (Tax Deduction at Source)?
You become liable for TDSThis stands for Tax Deducted at Source, which means the tax you have to pay on your salary is already deducted and the net amount is received by you. (Tax Deduction at Source) if the aggregate interest that you’re likely to earn for all your deposits is greater than Rs. 10 000 in a financial year.
Remember, Tax liability for TDSThis stands for Tax Deducted at Source, which means the tax you have to pay on your salary is already deducted and the net amount is received by you. purposes is determined at the branch level, and deposits held by minors are also subject to TDSThis stands for Tax Deducted at Source, which means the tax you have to pay on your salary is already deducted and the net amount is received by you..
Can I open a joint account with a non-senior citizen for 5 Year Tax Saving Fixed Deposit?
Yes you can open deposit with non senior citizen.
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What can you do online?
- Book Regular Fixed Deposit
- View Fixed Deposit advice Online
- Avail Sweep-in and Super Saver on Deposits held single name
- Liquidate Regular Fixed Deposit which are held in single name
Did you know?
- You can make deposits from Rs. 100 to Rs. 1,00,000
- You can opt for a monthly or quarterly pay-out option
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Get started with your 5 Year Tax Saving Fixed Deposit
On booking a 5 year Tax Saving Fixed Deposit advices would be sent to your mailing address.
If you have registered for NetBanking you can view your Fixed Deposits advice on Netbanking
To register for NetBanking click here.
Did you know?
Tax Deductions For Re-investment Fixed Deposits
The following will be applicable for a 5 Year Tax Saving Fixed Deposit
- TDS will be deducted when interest payable or reinvested per customer, per branch, exceeds Rs 10,000 in a financial year.
- A consolidated Annual TDSThis stands for Tax Deducted at Source, which means the tax you have to pay on your salary is already deducted and the net amount is received by you. Certificate will be mailed to you after the end of the financial year, including details of all TDSThis stands for Tax Deducted at Source, which means the tax you have to pay on your salary is already deducted and the net amount is received by you. deductions during the year.
W.e.f Aug 09, applicable TDSThis stands for Tax Deducted at Source, which means the tax you have to pay on your salary is already deducted and the net amount is received by you. rates are:
| Tax Rate | Surcharge | Education Cess | TOTAL | |
|---|---|---|---|---|
| Resident Individuals & HUF | 10% | ---- | ---- | 10% |
- If you are exempt from paying tax, you need to present Form 15G/H when you open a Fixed Deposit and subsequently at the beginning of the following financial year.
- At the end of the financial year, the TDSThis stands for Tax Deducted at Source, which means the tax you have to pay on your salary is already deducted and the net amount is received by you. will be deducted on the basis of interest accrued on the Fixed Deposit (s) even if this interest has not been credited.
Please check the FAQ for more information on TDSThis stands for Tax Deducted at Source, which means the tax you have to pay on your salary is already deducted and the net amount is received by you.
Have questions?
Will the bank issue a TDS certificate?
You will receive a consolidated TDSThis stands for Tax Deducted at Source, which means the tax you have to pay on your salary is already deducted and the net amount is received by you. Certificate in Form 16A, for TDSThis stands for Tax Deducted at Source, which means the tax you have to pay on your salary is already deducted and the net amount is received by you. deducted during a financial year, in the month of April of the following financial year.
As a 5 Year Tax Saving Fixed Deposit holder, How do I apply for an exemption on TDS?
If your total interest income for the year does not fall within the overall taxable limits, you should let us know. You can do this by submitting a form as per the provisions of the Income Tax Act.
A few things to note:
- You can get the 15AA form from the Assessing Officer of the Income Tax department.
- Even with the 15H/15AA form, the tax that has already been deducted by way of TDSThis stands for Tax Deducted at Source, which means the tax you have to pay on your salary is already deducted and the net amount is received by you. during the year prior will not be refunded. However, you will get a certificate, which can be used while filing your tax return.
- 15H/15AA Forms are valid only for the financial year in which they are issued.
- A fresh 15G/H form needs to be completed for each deposit that is placed with the Bank, and it should be completed within the first week of the financial year.
Does any change or enhancement in my deposit portfolio affect TDS liability?
Yes. If the change or enhancement in your deposit portfolio earns a cumulative interestIt is the interest which is calculated not only on the initial principal but also the accumulated interest of prior periods. along with that of the earlier portfolio greater than Rs. 10,000/- you will be liable for TDSThis stands for Tax Deducted at Source, which means the tax you have to pay on your salary is already deducted and the net amount is received by you. on your current portfolio.
Note: If interest on the current portfolio is not sufficient to cover TDSThis stands for Tax Deducted at Source, which means the tax you have to pay on your salary is already deducted and the net amount is received by you., it will be recovered from the principal.
When am I liable for TDS (Tax Deduction at Source)?
You become liable for TDSThis stands for Tax Deducted at Source, which means the tax you have to pay on your salary is already deducted and the net amount is received by you. (Tax Deduction at Source) if the aggregate interest that you’re likely to earn for all your deposits is greater than Rs. 10 000 in a financial year.
Remember, Tax liability for TDSThis stands for Tax Deducted at Source, which means the tax you have to pay on your salary is already deducted and the net amount is received by you. purposes is determined at the branch level, and deposits held by minors are also subject to TDSThis stands for Tax Deducted at Source, which means the tax you have to pay on your salary is already deducted and the net amount is received by you..
When is TDS deducted for 5 Year Tax Saving Fixed Deposit?
TDS is deducted every time the Bank pays/re-invests interest during the Financial year. In addition TDSThis stands for Tax Deducted at Source, which means the tax you have to pay on your salary is already deducted and the net amount is received by you. is also deducted on interest accrued(but not yet paid) at the end of financial year viz. 31st March.
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