This blog will look at the different HDFC fixed deposit types, interest rates, features, and advantages.

For a tenure ranging from 5 to 10 years, the investor will get an additional interest rate of 0.75% per annum. The interest rate for such schemes ranges from 2.50% to 5.50% per annum.įurther, senior citizens can also enjoy an additional rate of 0.50% per annum on investment tenures of 7 to 5 years. Investors can open a fixed deposit account for a tenure ranging from 7 days to 10 years. The scheme is offered at a fixed interest rate for a predetermined investment tenure. In addition to providing world-class savings services, the HDFC Bank also specialises in offering investment options such as Fixed Deposits. Thus, both benefits of higher returns, as well as higher liquidity, are combined in a single deposit scheme.HDFC has established itself as one of the country's leading financial services providers owing to its excellence in service and vast distribution network. Also, the depositor can withdraw funds from the account anytime, prematurely. In Flexi-deposit, the depositor is required to manually add money to their deposit account. Where the sweep-in facility is an added feature to fixed deposit schemes, Flexi-deposit is, in itself, a separate scheme.

Useful Article: COVID Crisis: Keep your cash handy – Later invest in FD Difference between Sweep-In Facility and Flexi Depositīoth facilities of sweep-in and Flexi deposit provide the same benefit of higher interest rates combined with liquidity. Thus, it is important to properly analyse the features that the bank is offering. However, some banks like the HDFC Bank terms this facility as Sweep-In.

This means that if there is a deficit in the savings account, the deficit amount is transferred from the linked fixed deposit account to the savings account to remedy the shortage. To explain in layman terms, sweep-out is the exact opposite of sweep-in. Know More What is the Sweep-Out Facility? Book SBM Bank FD & Get Lifetime FREE Step UP Credit Card

How to make fixed deposit in hdfc