Fixed deposits (FDs) remain one of the safest and most reliable investment options, providing guaranteed returns without market risks. HDFC Bank’s special 21-month FD scheme has recently gained attention, offering attractive interest rates and added benefits for investors. If you’re looking for a low-risk, high-reward savings option, this might be the right time to invest.
HDFC Bank’s Special 21-Month FD Scheme
| Feature | Details |
|---|---|
| Scheme Name | HDFC Bank Special 21-Month FD |
| Tenure | 21 Months |
| Interest Rate (General Citizens) | Up to 7.10% per annum |
| Interest Rate (Senior Citizens) | Up to 7.60% per annum |
| Minimum Deposit | ₹5,000 |
| Maximum Deposit | No upper limit |
| Premature Withdrawal | Available (with penalties) |
| Official Website | HDFC Bank FD |
HDFC Bank’s special 21-month FD scheme is an excellent choice for conservative investors looking for high returns with zero risk. With an interest rate of up to 7.60% for senior citizens, it outshines many other short-term deposit options. If you’re planning to park your funds securely and earn guaranteed returns, this FD scheme is a golden opportunity.
Why Choose HDFC Bank’s 21-Month FD Scheme?
HDFC Bank is one of India’s leading financial institutions, known for its stability and customer-friendly policies. Here’s why this FD scheme stands out:
1. Competitive Interest Rates
Compared to traditional FDs, the 21-month scheme offers a higher return on investment (ROI):
- General Citizens: 7.10% p.a.
- Senior Citizens: 7.60% p.a.
This is higher than the rates offered on many savings accounts and even some long-term FDs.
2. Low-Risk, Assured Returns
Unlike mutual funds or stock investments, FDs provide guaranteed returns without market volatility. If you’re someone who values security over high risk, this scheme ensures you don’t lose your principal amount.
3. Ideal for Short-Term Goals
With a tenure of 21 months, this FD is perfect for those looking to park their money for short-term financial goals such as:
- Buying a vehicle
- Funding a vacation
- Emergency corpus
- Down payment for a home loan
4. Senior Citizen Benefits
For investors above 60, HDFC Bank offers an extra 0.50% interest rate, making this FD an excellent retirement savings option.
5. Easy Liquidity with Overdraft Facility
HDFC Bank provides an overdraft facility against this FD, meaning you can borrow against your deposit without breaking the FD prematurely.
see also: High Returns on 180-Day Fixed Deposits
How to Open HDFC Bank’s Special 21-Month FD?
Opening an FD with HDFC Bank is simple and hassle-free. Here’s a step-by-step guide:
For Existing HDFC Bank Customers:
- Log in to NetBanking or the HDFC Mobile App.
- Navigate to the Fixed Deposit section.
- Select “21-Month FD” and enter the deposit amount.
- Choose the interest payout option (monthly, quarterly, or on maturity).
- Confirm the investment, and your FD is set up instantly.
For New Customers:
- Visit the HDFC Bank FD page.
- Click on “Open Fixed Deposit” and enter basic details.
- Complete video KYC verification (for non-account holders).
- Fund the FD using UPI, NEFT, or net banking.
- Get an instant e-receipt as proof of deposit.
see also: High Returns on 180-Day Fixed Deposits
Comparison with Other FDs
| Bank | Tenure | Interest Rate (General) | Interest Rate (Senior Citizens) |
|---|---|---|---|
| HDFC Bank | 21 Months | 7.10% | 7.60% |
| SBI Bank | 2 Years | 6.80% | 7.30% |
| ICICI Bank | 2 Years | 7.00% | 7.50% |
| Axis Bank | 2 Years | 6.85% | 7.35% |
Clearly, HDFC Bank offers one of the most competitive FD rates in the industry.
see also: Here’s How Much You Will Earn on an Investment of Rs 5 Lakh
HDFC Bank’s Special 21-Month FD Scheme FAQs
1. What is the minimum deposit required?
The minimum amount required to open an HDFC Bank 21-month FD is ₹5,000.
2. Is premature withdrawal allowed?
Yes, but it comes with a penalty of 1% on the applicable interest rate.
3. Can I take a loan against my FD?
Yes, HDFC Bank offers a loan or overdraft facility of up to 90% of the FD amount.
4. How is the interest paid?
Interest can be paid monthly, quarterly, or at maturity, depending on the investor’s choice.
5. How safe is HDFC Bank’s FD scheme?
HDFC Bank is a scheduled commercial bank regulated by the RBI, ensuring high safety and security for deposits.
