Earn ₹35,000 in Just 21 Months: Fixed deposits (FDs) have long been a popular investment option for those seeking secure and guaranteed returns. If you are looking for a risk-free way to grow your savings, HDFC Bank’s 21-month FD scheme can help you earn ₹35,000 in just 21 months. With attractive interest rates and reliable returns, this scheme is a great choice for both first-time investors and experienced savers.
HDFC’s FD Scheme
| Feature | Details |
|---|---|
| Investment Tenure | 21 Months |
| Interest Rate | 7.00% (General Public), 7.50% (Senior Citizens) |
| Minimum Deposit | ₹5,000 |
| Maximum Deposit | No upper limit |
| Estimated Returns on ₹5,00,000 | ₹63,600 (Before TDS) |
| Compounding Frequency | Quarterly |
| Premature Withdrawal | Available with a penalty |
| Loan Against FD | Yes, up to 90% of FD amount |
| Tax Benefits | Available under 80C for 5-year FD |
| Official Website | HDFC Bank FD |
HDFC Bank’s 21-month FD scheme is an excellent choice for those seeking stable and guaranteed returns. With a 7.00% interest rate, quarterly compounding, and flexible investment options, you can earn ₹35,000 safely in just 21 months.
To get started, visit HDFC Bank’s official FD page and open your fixed deposit account today.
Why Choose HDFC Bank’s 21-Month FD Scheme?
HDFC Bank’s fixed deposit (FD) scheme is designed to provide steady growth with zero risk. It is an excellent way to diversify your savings while ensuring that your capital remains safe.
1. Attractive Interest Rates
HDFC Bank offers one of the best FD interest rates in India:
- 7.00% per annum for general customers.
- 7.50% per annum for senior citizens.
For a ₹5,00,000 deposit, you can earn approximately ₹63,600 in 21 months. After deducting TDS (Tax Deducted at Source), the net return is around ₹35,000.
2. Stability and Security
Unlike mutual funds or stock market investments, FDs offer guaranteed returns. HDFC Bank is regulated by the RBI, ensuring transparency and safety for your funds.
3. Compounding Benefits
HDFC Bank applies quarterly compounding, meaning your interest earns interest, leading to better returns.
4. Loan Against FD
HDFC Bank allows you to avail a loan up to 90% of your FD amount, ensuring liquidity while keeping your investment intact.
5. Tax Benefits on FD
If you opt for a tax-saving FD with a 5-year lock-in period, you can claim deductions under Section 80C of the Income Tax Act.
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Step-by-Step Guide to Open an HDFC FD Account
1. Check Your Eligibility
Anyone can open an HDFC FD, including:
- Individuals (Residents & NRIs)
- Hindu Undivided Families (HUFs)
- Senior Citizens
- Trusts and Societies
2. Gather Required Documents
To open an FD, you need:
- Aadhaar Card or PAN Card
- Address Proof (Utility Bill, Passport, etc.)
- HDFC Bank Account Details (for existing customers)
3. Choose Your FD Type
HDFC offers different types of FDs:
- Regular FD – For general customers
- Senior Citizen FD – Higher interest rates for those aged 60+
- Sweep-in FD – Linked to a savings account for flexible liquidity
4. Open Your FD Online or Offline
- Online: Log in to HDFC Net Banking, select “Open FD,” choose tenure (21 months), and deposit funds.
- Offline: Visit your nearest HDFC Bank branch and fill out the FD application form.
5. Track and Manage Your FD
- Use Net Banking or Mobile Banking to check interest earnings and maturity details.
- Choose to auto-renew or withdraw on maturity.
How Much Will You Earn? FD Interest Calculation
HDFC Bank follows the quarterly compounding formula:
Where:
- A = Maturity Amount
- P = Principal Amount
- r = Annual Interest Rate
- n = Number of Compounding Periods (Quarterly = 4)
- t = Investment Tenure (1.75 years)
For ₹5,00,000 at 7.00% p.a., the estimated maturity amount is ₹563,600, earning you ₹63,600 in interest.
FAQs On HDFC’s FD Scheme
1. Can I withdraw my FD before maturity?
Yes, but a penalty of 1% on the interest rate will be deducted if withdrawn before 21 months.
2. Is HDFC FD safe?
Yes, HDFC Bank is regulated by the RBI, and your deposits are insured up to ₹5 lakh under DICGC insurance.
3. How is interest taxed?
Interest earned above ₹40,000 (or ₹50,000 for senior citizens) is subject to TDS at 10%. You can submit Form 15G/15H to avoid TDS if your income is below the taxable limit.
4. Can I renew my FD automatically?
Yes, HDFC Bank offers auto-renewal options for convenience.
5. Can I take a loan against my FD?
Yes, you can avail a loan of up to 90% of your FD amount.
