- Easy investment with attractive interest rates, flexibility, high returns and security.
- Higher rate of interest on Fixed Deposit for Senior Citizen.
- Convenience of booking deposit through NetBanking
How does it work
Senior citizen Care FD
Click here to book a deposit new way, using your mobile no.
Click here to book a deposit via NetBanking > Accounts > Transact
Or Please visit the nearest HDFC Bank branch
*Important Notes
An Additional Premium of 0.25% (over and above the existing premium of 0.50%) shall be given to Senior Citizens who wish to book the Fixed Deposit less than 5 crores for a tenure of 5 (five) years One Day to 10 Years, during special deposit offer commencing from 18th May'20 to 7th November, 2023. This special offer will be applicable to new Fixed Deposit booked as well as for the Renewals, by Senior Citizens during the above period. This offer is not applicable to Non-Resident Indian.
With effect from July 22nd, 2023, the interest rate applicable for premature withdrawal including Sweep-in/Partial Withdrawal will be 1% lower (as applicable) of the rate on the date of deposit booked, to the period for which deposit remained with the bank and not at the contracted rate.
In case of premature closure of Fixed Deposit booked in the above offer (including sweep in / partial closure) on or before 5 years, the interest rate will be 1% lower as applicable of the rate on the date of deposit booked, to the period for which deposit remained with the bank and not at the contracted rate.
In case of premature closure of Fixed Deposit booked in the above offer (including sweep in / partial closure) post 5 years, the interest rate will be 1.25% less (penalty as applicable) of the rate on the date of deposit booked, to the period for which deposit remained with the bank and not at the contracted rate.
Rates mentioned above in the rate sheet are inclusive of 0.75%
All other terms and conditions as applicable to Fixed Deposit shall remain unchanged and the same shall be applicable to the above fixed deposit too.
Tax Deductions For Re-investment Fixed Deposits
The following will be applicable for a Regular Fixed Deposit
W.e.f Aug 09, applicable TDS rates(if applicable) are as follows:
W.e.f 14th May 2020 till 31st March 2021, TDS rate is reduced from 10% to 7.5% on resident deposits.
|
Tax Rate | Surcharge | Education Cess | TOTAL |
---|---|---|---|---|
Resident Individuals & HUF | 10% | ---- | ---- | 10% |
Corporate Entity | 10% | ---- | ---- | 10% |
Firms | 10% | ---- | ---- | 10% |
Co-operative Societies & Local Authority | 10% | ---- | ---- | 10% |
As per section 206AA introduced by finance (No.2) Act, 2009 wef 01.4.2010, every person who receives income on which TDS is deductible shall furnish his pan, failing which TDS shall be deducted at the rate of 20% as against the existing TDS rate.
The maximum interest not charged to tax during the financial year where form 15 G/H is submitted is as below:
i) Upto 3, 00,000/- for residents of India below the age of 60 years or a person (not being a company or firm).
ii) Upto 7,00,000/- for senior citizen residents of India above the age of 60 years any time during the FY
iii) Form 15G/ H to be submitted by customer in duplicate to the bank, for submitting one copy for Bank record and second copy to be returned to customer with Branch seal as an acknowledgment. A fresh Form 15G /H needs to be submitted at the start of every new Financial Year. In case form 15G/H is submitted post interest payout/credit, waiver shall be effective from the day next to the interest payout /credit immediately preceding the date of submission of form 15G/H.
iv) Form 15G/H needs to be submitted for every fixed Deposits booked with bank for Tax exemption.
v) The bank shall not be liable for any consequences arising due to delay or non-submission of Form 15G/H
vi) To enable us to serve you better kindly submit the Form 15G/H latest by April 1st of the new financial year.
Note: The above guidelines are subject to change as per Income Tax regulations /directives of Finance Ministry Govt of India prevalent from time to time.
Tax Deductions for Monthly/Quaterly interest payout Fixed Deposits
Fixed Deposits booked with monthly or quarterly interest payout option, TDS recovery will by default happen from linked current / savings account. Please visit nearest branch / contact RM for further clarification.
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