Here are some key points to understand regarding interest rates:
Interest is computed quarterly, with reinvestment occurring every quarter. The principal amount is adjusted to include the interest earned during the preceding quarter. Tax at source is deducted in accordance with the prevailing Income Tax regulations.
Additionally, it's important to note that Tax at Source will be deducted based on the prevailing Income Tax Regulations.
The rate of interest will be in accordance with the prevailing 5-year deposit rate.
For specific FD rates, please click here.
Furthermore, the FD rate for a monthly interest option is offered at a discounted rate compared to the standard FD Rate. For further details, please contact the nearest Branch.
Terms & Conditions apply
Yes, there may be fees or charges associated with opening a HDFC Bank Five-Year Tax-Saving Fixed Deposit account. These can include processing fees, documentation charges, and any applicable taxes. It's advisable to check with the bank for the most current information on fees and charges before opening an account.
No, Senior Citizens' Accounts are not tax-free. Any interest earned on these accounts is subject to tax as per the Income Tax Act, 1961. However, senior citizens are eligible for higher exemption limits on interest income from deposits under Section 80TTB of the Income Tax Act.