If you are an NRIs, Minors or Current Account holder, kindly book your Fixed Deposit via NetBanking or MobileBanking App. FD will get booked at your home branch.Please visit nearest branch / contact RM for clarification. Fixed Deposits booked with monthly or quarterly interest payout option, TDS recovery will by default happen from linked current / savings account.50,000/- for senior citizens) in a financial year.Individuals seeking exemption from TDS on the interest income of FD and RD, have to submit a completed Form 15 G/H at the nearest branch or online within the first week of the new Financial Year and every time a new deposit is booked. TDS will be deducted when interest payable or reinvested on RD and FD per customer across all branches exceeds Rs.Senior citizens will get 50 basis points more. As per section 206AA introduced by finance (No.2) Act, 2009, 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 10% (7.5% wef 14th May’2020 till 31st March’2021) which is existing TDS rate) in case of domestic deposits and 31.20% in case of NRO deposits. HDFC Bank has launched two special fixed deposit (FD) schemes offering interest rates of 7.20 for a 35-month term and 7.25 for a 55-month term.
for senior citizen depositors for the tenures of 5 years. The bank also offers Tax Saving FDs 7.00 p.a. to senior citizens on tenures ranging from 7 days to 10 years. HDFC Bank offers FD rates of 3.00-7.20 p.a.
