Women Savings Account

Fuel your aspirations with HDFC Bank's FD Rupee Account My Passion Fund. Designed to nurture your dreams with assured returns, this fund offers a secure way to grow your savings. Whether you are planning for education, travel, or personal milestones, invest confidently with flexible tenure options and attractive interest rates. To open My Passion Fund, Login to NetBanking > Go to Transact > Open My Passion Fund

Why choose HDFC Bank My Passion Fund

  • Personalise Your Savings: Name It After Your Passion.
  • Flexible Deposits: Add Funds Up to 3 Times a Month.*
  • Top Up Up to Twice Your Instalment Amount Each Month.*
  • Minimum Top-Up Value: ₹1000 per month.
  • Interest rate follows current NRE/NRO deposit rates.
  • Instalments can be deposited online after the SI date if funds are available.
  • Enjoy a fully digital banking experience.
  • Begin your passion fund account with as little as ₹1000 (and multiples of ₹100 thereafter) or as much as ₹1,99,99,900 per month.
  • The minimum tenure for an NRO My Passion Fund account is 6 months, and for an NRE My Passion Fund account, it is 12 months, with extensions in multiples of 3 months up to a maximum of 10 years.
  • Enjoy anytime top-up options on the same account. To top up My Passion Fund, log in to NetBanking > Transact > Top up/add to My Passion Fund account.
  • Interest accrues from the date the instalment/top-up is paid.
  • Option for premature liquidation.
  • The minimum interest-earning period is one month for NRO My Passion Fund accounts and 12 months for NRE My Passion Fund accounts.

Benefits

Additional Information

  • TDS will be deducted from the interest earned for the NRO My Passion Fund. The rate is 30% plus the applicable surcharge and cess.
  • Effective from 24th October 2015, the following changes apply to all My Passion Fund accounts:
    • Interest on a My Passion Fund will be calculated from the date each instalment is paid.
    • Interest on Recurring Deposits (RDs) and My Passion Fund accounts will be calculated using the Actual/Actual Quarterly Compounding method.
    • As per the Finance Act 2015, TDS on RDs/My Passion Fund accounts is applicable and will be deducted from the linked CASA account.
       

For more details on rates and charges, please click here to view interest rates.

Payment of Instalment
Once set, the instalment amount cannot be changed later. If more than one instalment is overdue at payment time, up to 6 instalments may be recovered from the linked account if sufficient funds are available. If more than one instalment is overdue at payment time and the payment amount is only enough to cover one instalment, it will be applied to the earliest overdue instalment. Partial payments of instalments are not allowed.

Maturity
Interest accrues and is paid only at maturity. The deposit matures at the end of the contracted tenure, regardless of outstanding instalments. The maturity amount specified in the My Passion Fund confirmation advice is contingent upon timely payment of all instalments. Delays in instalment payments will alter the final maturity amount.

Overdue Instalments
In case of frequent defaults (non-payments) in monthly instalments and accumulation of six instalments in arrears, the Bank reserves the right to close the RD/My Passion Fund account. The interest rate applicable to closure will follow the Bank's current premature withdrawal policy.

Eligibility Criteria

  • NRIs/PIOs holding NRO Account can open NRO My Passion Fund account and holding NRE Account can open NRE My Passion Fund account.
  • Customers need to have an active NetBanking facility for their NRE & NRO Account in order open My Passion Fund account.

Frequently Asked Questions

HDFC Bank My Passion Fund is a flexible recurring deposit scheme that offers the ability to name your deposit, flexibility in deposit amounts and frequency, and the option to top up funds. This fund aims to help you achieve your goals faster by setting a target and timeframe and starting to save with ease.

The HDFC Bank My Passion Fund features include:

  • Personalisation by naming your deposit account after your passion.
  • Flexibility to deposit funds up to three times a month.
  • Top-up option with a maximum of twice the instalment amount per month.
  • A minimum top-up value of ₹1000 per month.
  • Interest rates as per current NRE/NRO deposit rates.

HDFC Bank’s My Passion Fund Flexi RD offers flexibility in deposit amount and frequency, while regular recurring deposits allow for fixed monthly payments.

To apply for an HDFC My Passion Fund account, Login to NetBanking > Go to Transact > Open My Passion Fund.

HDFC Bank My Passion Fund allows you to name your deposit after your passion, offering flexibility with up to three deposits per month. You can top up twice the instalment amount each month, with a minimum top-up of ₹1000. The interest rate is aligned with current NRE/NRO deposit rates, facilitating a personalised and flexible saving journey towards your goals.