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Branch Name: Indore

Address: Ug 1 & 2 14 / 3 South Tukoganj Trade House Indore-452001 Madhya Pradesh India

Tel. 0731-6160616

Fax. 0172-2646229

5 Year Tax Saving Fixed Deposit 

Features and Benefits

  Tenure - 5 years (lock in period)

  In the case of joint holder deposit, the deduction from income under section 80C of the Act shall

 be available only to the first holder of the deposit.

  Rate of interest –  As per prevailing 5 yr. deposit rate

 

Monthly or Quarterly interest pay-out options  Minimum Amount –  Rs. 100

  Multiples of Rs. 100

  Maximum amount –  Rs. 1 Lakh (in a FY)

Who is eligible?

  Resident individuals

  Hindu Undivided Families

Fixed Deposit Interest Rates Are you interested in opening a Fixed Deposit with HDFC Bank? 

Here are a few things to know about Interest Rates:  Your interest will be calculated on a quarterly basis. The interest for re-investment is calculated

every quarter, and the Principal is increased to include interest earned during the previous

quarter. Tax at source is deducted as per the Income Tax regulations prevalent from time to time. 

  Something else to note – Tax at Source will be deducted according to Income Tax Regulations prevalent from time to time. 

Rate of interest will be applicable as per prevailing 5 yr. deposit rate. 

Interest Rates 

When you open a fixed deposit with HDFC Bank

  Your interest is calculated on a quarterly basis for deposits of 6 months and above 

  For those deposits with a tenure of below 6 months, your interest is calculated at maturity as

Simple Interest. The period of Fixed Deposit is calculated in number of days. 

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  Interest for re-investment is calculated every quarter, and the Principal is increased to include

interest earned during the previous quarter. Tax at source is deducted as per the Income Tax regulations prevalent from time to time.

 Note: "As per the Terms & Conditions of Fixed Deposit Accounts of the bank, the penalty on premature closure of Fixed Deposits including sweep-in and partial closures has been fixed bythe Bank at the rate of 1%." This is applicable with effect from 24th January 2011

Interest rates are subject to change from time to time. Applicable interest rates will be given as

on the date / time of receipt of the funds by the bank. When booking FD through NetBanking please note the actual interest rate being applied on the "Confirm" screen. This screen appears

 before you confirm your request for opening a new FD. In order to see the latest information, we

request you to clear your browsers cache to see the updated interest rates.

DOMESTIC TERM DEPOSITS 

Deposits below 1 Cr

Period  Interest Rate (per

annum)  **Senior Cizen Rates

(per annum)  Efecve From 7 - 14 days  3.50%  4.00%  May 12, 2011 

15 - 29 days  4.00%  4.50%  May 12, 2011 

30 - 45 days  5.00%  5.50%  May 12, 2011 

46 - 60 days  7.50%  8.00%  December 15,

2012 

61 - 90 days  7.50%  8.00%  December 15,

2012 

91 Days to less than 6

months 1 day 

7.50%  8.00%  December 15,

2012 

6 months 1 day - 6

months 15 days 

8.00%  8.50%  December 15,

2012 

6 months 16 days  8.00%  8.50%  December 15,

2012 

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6 months 17 days - 9

months 15 days 

8.00%  8.50%  December 15,

2012 

9 months 16 days  8.00%  8.50%  December 15,

2012 

9 months 17 days - 1

year 

8.00%  8.50%  December 15,

2012 

1 year 1 day - 1 year 15

days 

8.75%  9.25%  September 12,

2012 

1 year 16 days  8.75%  9.25%  September 12,

2012 

1 year 17 days - 2 years  8.75%  9.25%  September 12,

2012 

2 years 1 day - 2 years

15 days 

8.75%  9.25%  September 12,

2012 

2 years 16 days  8.75%  9.25%  September 12,

2012 

2 years 17 days - 3

years 

8.75%  9.25%  September 12,

2012 

3 years 1 day - 5 years  8.75%  9.25%  September 12,

2012 

5 years 1 day - 8 years  8.25%  8.75%  Dec 10, 2010 

8 Year 1 Day - 10 Years  8.25%  8.75%  Dec 10, 2010 

  Interest rates are subject to change from time to time. Applicable interest rates will be given as

on the date of receipt of the funds by the bank. When booking FD through Net Banking pleasenote the actual interest rate being applied on the "Confirm" screen. This screen appears before

you confirm your request for opening a new FD.

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** Only Senior Citizens / Retired Personnel (60 years and above) who are Resident Indians are

eligible. The special rates are applicable only for INR deposits.

*** The FD rate applicable for a monthly interest option will be a discounted rate over thestandard FD Rate. Please contact the nearest Branch for further information.

**** For interest rates on Fixed Deposits for Rs.1 Cr and above, please contact your nearest

HDFC Bank branch or your Relationship Manager.

  Effective 01st Dec'06, the interest rate applicable for premature closure of deposits (all amounts)will be lower of: The base rate for the original/contracted tenure for which the deposit has been

 booked OR the base rate applicable for the tenure for which the deposit has been in force with

the Bank. 

  The base rate is the rate applicable to deposits of less than Rs.1 Cr as on the date of booking the

deposit. For deposits > 5 Crs, the base rate is the rate applicable for 5 Cr deposits as on the date

of booking the deposit. For such premature withdrawals, including sweep-ins and partialwithdrawals, the Bank will levy a penalty of 1%, on the applicable rate. 

  The Fixed Deposit Advice will be dispatched to your recorded mailing address within 3-4

working days of account opening. 

Tax Deductions For Re-investment Fixed Deposits 

The following will be applicable for a 5 Year Tax Saving Fixed Deposit :

  TDS will be deducted when interest payable or reinvested per customer, per branch, exceeds Rs

10,000 in a financial year. 

  A consolidated Annual TDS Certificate will be mailed to you after the end of the financial year,

including details of all TDS deductions during the year. I.e. Aug 09, applicable TDS rates forResident Individual &HUF is 10% 

  If you are exempt from paying tax, you need to present Form 15G/H when you open a fixed

.Deposit and subsequently at the beginning of the following financial year. At the end of thefinancial year, the TDS will be deducted on the basis of interest accrued on the Fixed Deposit (s)

even if this interest has not been credited 

Important Notice 

  As per section 206AA introduced by Finance (No. 2) Act, 2009 wef 01.04.2010, 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 10% which is existing TDS rate) in case of Domesticdeposits and 30.90% in case of NRO deposits 

  Please further Note that in the absence of PAN, as per CBDT circular no:03/11, TDS certificatewill not be issued, form 15G/H and other exemption certificates will be invalid even if submitted

and penal TDS will be applicable. 

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Will the bank issue a TDS certificate? 

You will receive a consolidated TDS Certificate in Form 16A, for  TDS deducted during a

financial year, in the month of April of the following financial year.

As a 5 Year Tax Saving Fixed Deposit holder, How do I apply for an exemptionon TDS? 

If your total interest income for the year does not fall within the overall taxable limits, you

should let us know. You can do this by submitting a form as per the provisions of the Income

Tax Act.

A few things to note:

  You can get the 15AA form from the Assessing Officer of the Income Tax department. 

  Even with the 15H/15AA form, the tax that has already been deducted by way of  TDS during the

year prior will not be refunded. However, you will get a certificate, which can be used whilefiling your tax return. 

  15H/15AA Forms are valid only for the financial year in which they are issued. 

  A fresh 15G/H form needs to be completed for each deposit that is placed with the Bank, and itshould be completed within the first week of the financial year. 

Does any change or enhancement in my deposit portfolio affect TDS liability? 

Yes. If the change or enhancement in your deposit portfolio earns a cumulative interest along

with that of the earlier portfolio greater than Rs. 10,000/- you will be liable for  TDS on yourcurrent portfolio.

Note: If interest on the current portfolio is not sufficient to cover  TDS, it will be recovered from

the principal.

When am I liable for TDS (Tax Deduction at Source)? 

You become liable for  TDS (Tax Deduction at Source) if the aggregate interest that you’re likely

to earn for all your deposits is greater than Rs. 10 000 in a financial year.

Remember, Tax liability for  TDS  purposes is determined at the branch level, and deposits held

 by minors are also subject to TDS. 

Can I open a joint account with a non-senior citizen for 5 Year Tax Saving

Fixed Deposit? 

Yes you can open deposit with non-senior citizen.