Product Details
Bank Name
HDFC
Eligibility
Residents
Hindu undivided families
Sole proprietorship firms
Partnership firms
Limited companies
Trust accounts
Interest Rate
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.
Tenure
Flexi Tenure - Min tenure: 1 year for deposit amount 2 to < 5 cr & 91 days for deposit >=5 cr. Max tenure: 10 years
Fixed Deposit Type
Non Withdrawable
HDFC Bank Non Withdrawable FD
Tax Benefits
No
Credit Ratings
CRISIL AA+
Interest Payment Frequency
Monthly/quarterly interest payout option is available
Cummulative/Non-Cummulative
Non-cumulative
Features
The Fixed Deposits does not have any premature withdrawal facility i.e. the Fixed Deposits cannot be closed by the depositor before expiry of the term of such deposit. However, the Bank may allow premature withdrawal of these deposits in the exceptional circumstance such as in the event of any direction from any judiciary /statutory and / or regulatory authorities cases or deceased claim settlement cases In the event of premature withdrawal of these deposits under above mentioned exceptional circumstances (except for deceased claim settlement case), the Bank will not pay any interest on the principal amount of the deposit.
Minimum Investment Amount
Min FD amount: 2 crores & above
Fees and Charges
Pros
Higher Interest Rates
Assured Returns
Flexible Tenure
Monthly/Quarterly Interest Option
Cons
High Minimum Deposit
Early Withdrawal Penalty
Limited Options Compared to Regular FDs
Pros & Cons
Account Opening and Procedure
How to Open?
Visit Branch or Contact Relationship Manager: Since Non-Withdrawable FDs are a specific product, it's advisable to visit your nearest HDFC Bank branch or contact your relationship manager for a detailed explanation and application process.
Documents Required: Generally, for FDs, you'll need ID proof, address proof, PAN card, and income proof (salary slips or ITRs). The bank may have additional requirements for Non-Withdrawable FDs, so confirm with the branch.
Select Tenure and Interest Option: Choose your desired deposit term (1 year minimum) and whether you want interest payout monthly or quarterly.
Finalize Deposit: Once details are confirmed, deposit the ₹2 crore or more to activate your Non-Withdrawable FD.
Application Procedure
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