Interest Rates

Marginal Cost of Funds based Lending Rates (MCLR)

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Effective Date: May 7, 2018

TenorMCLR in %
Overnight 7.95
1 month 7.95
3 month  8.00
6 month 8.15
1 year  8.30
2 year  8.45
3 year  8.60

Domestic, NRO, NRE and RFC Savings Rate

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Domestic, NRO and NRE Savings Rate

Effective 19th August 2017, Rate of Interest for Savings Bank deposits Accounts has been revised as below :

Savings Bank balanceRevised Rate w.e.f 19th August, 2017
Rs. 50 lakh and above 4%
Below Rs 50 lakh 3.50%

Note:

  • Savings Bank interest will be calculated on the daily balances maintained in your account.
  • Savings Bank interest will be paid at quarterly intervals

RFC Savings (for Returning NRIs) Interest Rate

This is to inform you that our RFC Savings Account Interest Rates effective July 1, 2017 are as below:

GBPUSDEuroJPY
0.01% 0.01% NA NA

EEFC Deposit would be accepted only in current A/c (According to RBI guidelines.)

Domestic / NRO and NRE Deposit Rates < 5 Cr

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Domestic / NRO / NRE TERM DEPOSITS

(Senior Citizen Rates do not apply to NRIs | Minimum tenor for NRE Deposit is 1 Year.)

Period< 1 Crore>=1 Crore to < 5 Crores
Interest Rate
(per annum)
**Senior Citizen Rates
(per annum)
Interest Rate
(per annum)
**Senior Citizen Rates
(per annum)
7 - 14 days 3.50% 4.00% 4.25% 4.75%
15 - 29 days 4.25% 4.75% 4.25% 4.75%
30 - 45 days 5.50% 6.00% 6.25% 6.75%
46 - 60 days 5.75% 6.25% 6.50% 7.00%
61 - 90 days 5.75% 6.25% 6.75% 7.25%
91 days - 6 months 5.75% 6.25% 6.55% 7.05%
6 mnths 1 day- 6 mnths 3 days 6.00% 6.50% 6.75% 7.25%
6 mnths 4 days 6.00% 6.50% 6.75% 7.25%
6 mnths 5 days- 9 mnths 6.00% 6.50% 6.75% 7.25%
9 mnths 1 day- 9 mnths 3 days 6.00% 6.50% 6.85% 7.35%
9 mnths 4 days 6.00% 6.50% 6.85% 7.35%
9 months 5 days - 9 months 15 days 6.00% 6.50% 6.85% 7.35%
9 months 16 days 6.25% 6.75% 6.85% 7.35%
9 months 17 days < 1 Year 6.25% 6.75% 6.85% 7.35%
1 Year 6.85% 7.35% 7.10% 7.60%
1 year 1 day - 1 year 3 days 6.50% 7.00% 7.10% 7.60%
1 year 4 days 6.25% 6.75% 7.10% 7.60%
1 year 5 days - 1 Year 15 Days 6.25% 6.75% 7.10% 7.60%
1 Year 16 days 6.25% 6.75% 7.10% 7.60%
1 year 17 days - 2 Years 7.00% 7.50% 7.10% 7.60%
2 years 1day - 2 Years 15 days 7.00% 7.50% 7.10% 7.60%
2 Years 16 days 7.00% 7.50% 7.10% 7.60%
2 years 17 days - 3 Years 7.00% 7.50% 7.10% 7.60%
3 years 1day - 5 years 7.00% 7.50% 6.85% 7.35%
5 Years 1 Day - 8 Years 6.00% 6.50% 6.85% 7.35%
8 Years 1 Day - 10 Years 6.00% 6.50% 6.85% 7.35%

 

IMPORTANT NOTES – RESIDENT CUSTOMERS:

  • Interest rates are subject to change from time to time. Applicable interest rates will be given as on the date / time of receipt of the funds by the bank. When booking FD through NetBanking please note the actual interest rate being applied on the "Confirm" screen. This screen appears before you confirm your request for opening a new FD. In order to see the latest information, we request you to clear your browsers cache to see the updated interest rates.
  • It is reiterated that the interest rate applicable on multiple deposits, across all channels, made by the same customer in a single day in one particular tenor bucket would be the rate which is applicable for the aggregate value of such deposits.
  • Only Senior Citizens / Retired Personnel (60 years and above) who are Resident Indians are eligible. The special rates are applicable only for Resident deposits.
  • When you open a Fixed deposit with HDFC Bank Interest on Term Deposits is calculated as below

    1) On a Quarterly basis for deposits >= 6 months
    2) Simple interest is paid at maturity for deposits < 6 months.
    3) Cumulative Interest/ re-investment interest is calculated every quarter, and is added to the Principal such that Interest is paid on the Interest earned in the previous quarter as well.
    4) In case of monthly deposit scheme, the interest shall be calculated for the quarter and paid monthly at discounted rate over the Standard FD Rate
  • Tax at source is deducted as per the Income Tax regulations prevalent from time to time.
  • The Bank computes interest based on the actual number of days in a year. In case, the Deposit is spread over a leap and a non-leap year, the interest is calculated based on the number of days i.e.,366 days in a leap year & 365 days in a non leap year.The period of Fixed Deposit is calculated in number of days.
  • The Minimum tenure for earning FD interest is 7 days.
  • The interest rate applicable on premature closure of deposits (all amounts) will be lower of:

    a) The base rate for the original/contracted tenor for which the deposit has been booked
    OR
    b) The base rate applicable for the tenor for which the deposit has been in force with the Bank

    The base rate is the rate applicable to deposits of less than Rs.1 Cr as on the date of booking the deposit.
  • In case of premature closure of Fixed Deposit (including sweep in / partial closure) the interest rate will be 1.00% below the contracted rate or the rate applicable for the period the deposit has remained with the bank, whichever is lower.
  • As interest rates are subject to change without prior notice, depositor shall ascertain the rates on the value date of FD

IMPORTANT NOTES – NRI CUSTOMERS:

  • Interest rates are subject to change from time to time. Applicable interest rates will be given as on the date / time of receipt of the funds by the bank. When booking FD through NetBanking please note the actual interest rate being applied on the "Confirm" screen. This screen appears before you confirm your request for opening a new FD. In order to see the latest information, we request you to clear your browsers cache to see the updated interest rates.
  • It is reiterated that the interest rate applicable on multiple deposits, across all channels, made by the same customer in a single day in one particular tenor bucket would be the rate which is applicable for the aggregate value of such deposits.
  • The Senior Citizen Rates are only for Resident Indians and do not apply to NRIs.
  • The Bank computes interest based on the actual number of days in a year. In case, the Deposit is spread over a leap and a non-leap year, the interest is calculated based on the number of days i.e.,366 days in a leap year & 365 days in a non leap year.The period of Fixed Deposit is calculated in number of days.
  • The Interest on Term Deposits for the deposits booked by us, is calculated as below:
    1) Fixed Deposits for the tenor < 6 months : Simple Interest is paid
    2) Fixed Deposits for the tenor >= 6 months with Quarterly Interest Payout option : On a Quarterly basis
    3) Fixed Deposits for the tenor >= 6 months with Monthly Interest Payout option : Interest is calculated for the quarter and paid monthly at a discounted rate over the standard deposit rate
    4) Fixed Deposits for the tenor >= 6 months with Interest Reinvestment option : Cumulative Interest for the Quarter is added to the Principal in subsequent quarter and interest is calculated on total amount

    [The paid interest amount (in case of monthly/quarterly/half yearly payout mode) will be adjusted against Principal Balance of the Deposit incase of Premature withdrawal of the NRE Deposit before 1 year]

  • Tax at Source is deducted as per the Income Tax regulations prevalent from time to time (applicable on NRO Fixed Deposits)
  • The interest rate applicable on premature closure of deposits (all amounts) will be lower of :
    • The base rate for the original/contracted tenor for which the deposit has been booked
      OR
    • The base rate applicable for the tenor for which the deposit has been in force with the Bank

    (The base rate is the rate applicable to deposits of less than Rs.1 Cr as on the date of booking the deposit.)

  • The Minimum tenor for earning the interest on NRO Fixed Deposit is 7 days.
  • In case of premature closure of NRO Fixed Deposit (including sweep in / partial closure) the interest rate will be 1.00% below the contracted rate or the rate applicable for the period the deposit has remained with the bank, whichever is lower,except for the tenor of 7-14 days.
  • The Minimum tenor for earning the interest on NRE Fixed Deposit is 1 year. No Interest will be paid if the NRE Deposit is prematurely withdrawn before 1 year.
  • No Penalty will be levied on premature closure of NRE Fixed Deposit.
  • Partial premature withdrawal and sweep-in facility is not allowed for fixed deposits booked for 5 Crore and above.
  • As interest rates are subject to change without prior notice, depositor shall ascertain the rates on the value date of FD.

Domestic / NRO and NRE Deposit Rates >=5 Cr

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For rates greater than equal to Rs. 5 Cr please click here

Domestic Non-withdrawable Deposit rates >=5 Cr

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For Non-withdrawable Domestic term Deposit rates greater than equal to Rs. 5 Cr please click here

FCNR and RFC Deposit Rates

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FCNR Deposit Interest Rates

PeriodGBPUSDEuroJPYAUDCADEffective On
1 Yr to < 2 Yrs 1.32% 3.19% 0.01% 0.01% 2.82% 2.42% May 22, 2018
2 Yrs to < 3 Yrs 1.80% 3.62% 0.23% 0.01% 3.27% 2.95% May 22, 2018
3 Yrs to < 4 Yrs 1.85% 3.67% 0.25% 0.01% 3.39% 3.06% May 22, 2018
4 Yrs to < 5 Yrs 1.27% 3.07% 0.01% 0.01% 2.85% 2.51% May 22, 2018
5 Yrs only 1.27% 3.04% 0.01% 0.01% 2.94% 2.55% May 22, 2018

New Customers: Click here to talk to our Executive!!

EXISTING Customers: Click here to book a deposit online through NetBanking!!

Click here to talk to our PHONEBANKING Agent!!

IMPORTANT NOTES:


  • No interest will be paid if the FCNR Deposit is prematurely withdrawn before 1 year.
  • No Penalty will be levied on premature closure of FCNR Fixed Deposit.
  • The interest rate applicable for premature closure of deposits (all amounts) will be lower of:
    • The base rate for the original/contracted tenor for which the deposit has been booked OR
    • The base rate applicable for the tenor for which the deposit has been in force with the Bank.

    The paid interest amount (in case of half yearly payout mode) will be adjusted against Principal Balance of the Deposit incase of Premature withdrawal of the FCNR Deposit before 1 year

  • Partial or premature withdrawals will not be permitted for FCNR deposits booked/renewed for a tenor of 3 years and above during September 25, 2013 till November 28, 2013
  • The interest is calculated on a half yearly basis. Interest for re-investment deposit is calculated every six months and the Principal is increased to include interest earned during the previous six months.
  • Deposit will be booked upon availability of clear funds with the bank and applicable interest rate will be given as on the date of receipt of the funds by the bank.
  • The above rates are applicable for fresh and renewal fixed deposits and are subject to change from time to time. Kindly check the rates before booking the FCNR Fixed Deposit.
  • The FCNR Deposit booking request through Netbanking will be processed within 2 working days except Saturday, Sunday, Indian public holidays, International currency holidays. The actual interest rate and forex rate being applied will be the one which is prevailing at the time of processing the deposit and not at the time of receiving the request.

RFC Fixed Deposit Rates

PeriodGBPUSDEUROJPYEffective On
< 29 Days 0.01% 0.01% 0.01% 0.01% May 01, 2018
30 days - 3 Months 0.01% 0.01% 0.01% 0.01% May 01, 2018
3 Months 1 day - 6 Months 0.01% 0.01% 0.01% 0.01% May 01, 2018
6 Months 1 day - < 1 Year 0.01% 0.01% 0.01% 0.01% May 01, 2018
1 year - < 2 years 1.32% 3.19% 0.01% 0.01% May 01, 2018
2 years - < 3 years 1.80% 3.62% 0.23% 0.01% May 01, 2018
3 years only 1.85% 3.67% 0.25% 0.01% May 01, 2018

Note: As per the Terms & Conditions of Fixed Deposit Accounts of the bank, the penalty on premature closure of Fixed Deposits including sweep-in and partial closures has been fixed by the Bank at the rate of 1% provided your RFC FD interest is equivalent to 1% or more . This will be applicable for deposits booked on or after 24th January 2011.

*Applicable interest rates will be given as on the date of receipt of the funds by the bank. When booking Fixed Deposit through NetBanking, please note the actual interest rate being applied on the "Confirm" screen. This screen appears before you confirm your request for opening a new Fixed Deposit.

  • Effective 01st Dec'06, the interest rate applicable for premature closure of deposits (all amounts) will be lower of :
    • The base rate for the original/contracted tenure for which the deposit has been booked OR
    • The base rate applicable for the tenure for which the deposit has been in force with the Bank.

 

2.39%

Recurring Deposit Rates (Resident and NRE Customers)

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Rates for some key tenures:

PeriodInterest Rate (per annum)**Senior Citizen Rates (per annum)Interest Rates p.a. for NRIsEffective From
6 Months 5.75% 6.25% N.A. Dec 05,2016
9 Months 6.00% 6.50% N.A. Dec 05,2016
12 Months 6.85% 7.35% 6.85% Apr 24,2018
15 Months 7.00% 7.50% 7.00% Apr 24,2018
24 Months 7.00% 7.50% 7.00% Apr 24,2018
27 Months 7.00% 7.50% 7.00% Apr 24,2018
36 Months 7.00% 7.50% 7.00% Apr 24,2018
39 Months 7.00% 7.50% 7.00% Apr 24,2018
48 Months 7.00% 7.50% 7.00% Apr 24,2018
60 Months 7.00% 7.50% 7.00% Apr 24,2018
90 Months 6.00% 6.50% 6.00% Jan 06,2017
120 Months 6.00% 6.50% 6.00% Jan 06,2017

**Only Senior Citizens are eligible for higher rates of interest.

Note: Interest rates are subject to periodic changes. The applicable interest rates will be given based on the date and time of receipt of the funds by the bank.
We request you to clear your browsers cache to see the most recently updated interest rates.

    • Premature Liquidation
      Effective 01st Dec'06, the interest rate applicable for premature closure of deposits (all amounts) will be lower of :
      • The original rate at which the deposit has been booked OR
      • The base rate applicable for the tenure for which the deposit has been in force with the Bank.
        The base rate is the rate applicable to deposits of less than Rs.15 lacs as on the date of booking the deposit.
    • With effect from Oct 24, 2015, the following changes would be applicable to all Recurring Deposits.
      • Interest on a Recurring Deposit will be calculated from the date the instalment is paid.
      • The method of calculation of interest on RDs will be on Actual / Actual Quarterly Compounding.

TDS on RD is applicable as per Finance Act 2015. TDS on RD will be recovered from the linked CASA.

Interest and Penalty calculation methods are as per the IBA Guidelines.

* The Recurring Deposit Advice will be dispatched to your recorded mailing address within 3-4 working days of opening your account.