HDFC Bank NRE FD Rates: Latest NRI FD Rates 2021

NRI Fixed Deposit options at HDFC Bank is one of the safest avenues for NRI Investment in India. Your residential status and financial requirements can be easily catered to within their multiple options of Fixed Deposits: NRE FD, NRO FD, FCNR Deposits and RFC Deposit. In this article, we will browse through the latest HDFC Bank NRE FD Rates along with other NRI FD Rates and other benefits of investing in NRI FD at HDFC Bank.

Table of Contents:

HDFC Bank NRE FD Rates: Latest NRI FD Rates 2021
HDFC Bank NRE FD Rates: Latest NRI FD Rates 2021

HDFC NRI Fixed Deposit Interest Rates 2021

  1. Non-Resident External Fixed Deposit (NRE FD) Interest Rates
TenorBelow Rs. 2 croreRs. 2 crore to less than Rs.5 crore
1 year 4.90%3.75%
1 year 1 day to 2 years4.90%3.75%
2 year 1 day to 3 years5.15%4.25%
3 year 1 day to 5 years5.30%4.25%
5 year 1 day to 10 years5.50%4.25%
HDFC Bank NRE FD Rates
  1. Non-Resident Ordinary Fixed Deposit (NRO FD) Interest Rates
TenorBelow Rs. 2 croreRs. 2 crore to Rs. 5 crore
7 days to 14 days2.50%2.50%
15 days to 29 days2.50%2.50%
30 days to 45 days3%2.75%
46 days to l60 days3%2.75%
61 days to 90 days3%3%
91 days to 6 months3.50%3%
6 months 1 day to 9 months4.40%3.50%
9 months 1 day to < 1 year4.40%3.65%
1 year4.90%3.75%
1 year 1 day to 2 years4.90%3.75%
2 year 1 day to 3 years5.15%4.25%
3 year 1 day to 5 years5.30%4.25%
5 years 1 day to 10 years5.50%4.25%
HDFC Bank NRO FD Rates
  1. Foreign Currency Non-Resident (FCNR) Deposit Interest Rates
Tenure/CurrencyGBPUSDEuro JPYAUDCAD
1 year to less than 2 years0.01%0.01%0.01%0.01%0.01%0.01%
2 years to less than 3 years0.01%0.01%0.01%0.01%0.01%0.01%
3 years to less than 4 years0.01%0.01%0.01%0.01%0.01%0.01%
4 years to less than 5 years0.01%0.01%0.01%0.01%0.01%0.06%
5 years0.01%0.3%0.01%0.01%0.04%0.24%
HDFC Bank FCNR Deposit Interest Rates
  1. Resident Foreign Currency (RFC) Deposit Interest Rates
PeriodGBPUSD EuroJPY
Less than 29 days0.01%0.01%0.01%0.01%
30 days to 3 months0.01%0.01%0.01%0.01%
3 month 1 day to 6 months0.01%0.01%0.01%0.01%
6 month 1 day to less than a year0.01%0.01%0.01%0.01%
1 year to less than 2 years0.01%0.01%0.01%0.01%
2 years to less than 3 years0.01%0.01%0.01%0.01%
3 years0.01%0.01%0.01%0.01%
HDFC Bank RFC FD Interest Rates

Note: All the interest rates mentioned above are subject to change without prior notice. We update the latest interest rates on NRE FD and Savings Bank Account as well as the interest rates for FCNR Deposit every month with the banks on our blog. You can head there to check out the latest rates. (The above tables were updated on 11/01/2021)

Types of NRI FD Schemes by HDFC Bank

There are multiple types of Fixed Deposit Schemes that you can choose from at HDFC. These options are based on the currency chosen for deposits, which are:

  • Rupee Fixed Deposits
    • NRE Fixed Deposit
    • NRO Tax Saver FD
    • NRO FD
    • RupeeMax
  • Foreign Currency Deposits
    • FCNR Fixed Deposits
    • RFC Fixed Deposits

Use the grids below to understand these options in detail.

Factors to considerNon Resident External (NRE) Fixed DepositNon Resident Ordinary (NRO) Tax Saver FDNon Resident Ordinary (NRO) Fixed DepositForeign Currency Non Resident (FCNR) Deposit
PurposeFor income earned outside IndiaFor income earned from India (pension, rent etc.)For income earned from India (pension, rent etc.) Foreign Currency Investment in India
CurrencyINRINRINRUSD, GBP, EUR, JPY, CAD, AUD, SGD, HKD and CHF
Tenure of Deposits1 year to 10 years5 years (lock-in)7 days to 10 years1 year to 5 years
InterestUp to 5.50%*Up to 5.50%*Up to 5.50%*Up to 0.4%*
Repatriation(transfer of money from Indian bank account to foreign bank account) Both Principal (money invested initially) and Interest completely repatriableUp to a maximum of 1 million USD per financial yearUp to a maximum of 1 million USD per financial yearBoth Principal and Interest completely repatriable
Tax DeductionsNo taxFull tax exemption for an amount up to Rs. 1.5 lakh in 1 financial yearTax on Interest earned (not on principal amount): 30% tax + surcharge + education cess will be deducted at the source of interest earned in IndiaNo tax
Minimum Deposit AmountRs. 25,000Rs. 100Rs. 10,000 – Rs. 1.5 lakh per financial yearUSD/ AUD/ CAD: 1,000JPY: 7,50,000GBP & Euro: 2,500
Premature WithdrawalAvailableNot AvailableAvailable (1% penalty)Available
Loan against FDOverdraft up to 90% of the deposit amountNot AvailableOverdraft of up to 90% of the deposit (only for NRO CASA Account)Overdraft facility available with Super Saver Facility
Features– Nomination facility available
– Principal + Interest both exempt from tax in India
– Entire fund (principal + interest earned) repatriable
– The account can be opened jointly with another NRI
– Nomination facility available
– Can be opened jointly but tax benefit applies only to the first account holder
– Nomination facility available
– Interest credited quarterly
– Funds can be transferred from existing NRE/FCNR account
– Loans provided for personal as well as business purposes
– Interest can be repatriated (transferred) any time
– Deposits can be made in USD, GBP, Euro, JPY, AUD and CAD
– The account can be opened individually or jointly with other NRIs
– Entire fund value fully repatriable
HDFC Bank NRI FDs Overview

Click on the button below to instantly book an NRI FD

Book NRI FD Now

RupeeMax: It is a cover provided by HDFC for customers of FCNR fixed deposit. It provides shield to the customers from foreign exchange risk.

  • The fund value is not compromised at the time of withdrawal if this cover has been booked in advance
  • Higher HDFC FD rates offered to customers with RupeeMax cover in comparison to normal FCNR and NRE deposits
  • Available for FD booked for 1 to 5 years
  • Premature withdrawal may be available; subject to T&C
ParticularsRFC
Tenure29 days-3 years
Premature WithdrawalAvailable; 1% penalty
FeaturesDeposits can be made in freely convertible foreign currency
Transfers  can be made from existing NRE or FCNR accounts (in other banks or HDFC)
No forex risk involved
Funds may be repatriated in special conditions (explained by the bank)
HDFC Bank RFC FD Overview
Get Expert Advisory and Assistance with HDFC Bank NRI Fixed Deposits

Premature Withdrawal facility for HDFC NRI FD

There are certain rules that need to be kept in mind while opting for an NRI FD. Check out:

  • For NRI deposits, there is a penalty of 1% on premature withdrawals including sweep-in or partial closure. This implies the interest shall be paid at the applicable FD rates minus 1%
  • No interest shall be paid on withdrawals made within 7-14 days of opening the deposit account
  • In case of FCNR deposits, paid interest shall be adjusted against the initial deposit made if withdrawn prematurely in less than 1 year
  • In the case of RFC deposits, interest to be paid on premature withdrawals will be lower of the following:
  • Applicable base rate at the time of booking the FD or
  • The applicable base rate for the period for which deposit was kept with the bank, i.e. period from the date of booking to the date of premature withdrawal

Loan against HDFC NRI FD

NRIs at HDFC get the option to take a loan or go for an overdraft facility against their FDs with the bank. Check out the overdraft limits:

Type of FDOverdraft Limit (% of deposit account)
NRE90%
NRO90%
FCNR70%
Loan against HDFC NRI FD
  • Deposit continues to earn interest
  • Interest is charged only on the drawn amount till it is repaid
  • NRI fixed deposit cannot be closed prematurely if there is outstanding overdraft against it

Documents Required to apply for HDFC Bank NRI FD Schemes

You can either apply online or through the offline method. The documents required are:

  • Passport (photocopy to be submitted, original for verification)
  • Valid Visa (resident or permit visa, work visa or dependent visa)
  • Residence proof in the foreign land
  • Passport-sized photograph(s)

How to apply for HDFC Bank NRI Fixed Deposit Account

To get end to end assistance with NRE Account Opening and booking Fixed Deposits, you can connect with our expert using the button at the end of the article. You can also browse through the NRI Account Opening grid that we have prepared specially for NRIs and get expert advisory and assistance seamlessly and complete the entire process at the comfort of your homes.

HDFC Bank NRE Fixed Deposit Rate Calculator

Calculate your returns on FD and much more with an expert. At SBNRI, you get direct access to field experts who will take care of your individual process personally and assist you throughout the way. Just click on the button below to get in touch with our expert now. Also, visit our blog and Youtube Channel for more details.

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HDFC Bank NRE FD Rates: FAQs

What is the highest HDFC NRE Fixed Deposit rate?

The highest NRE FD rate one can fetch with HDFC Bank is 5.50% for deposits less than Rs. 2 crores on tenure 5 years 1 day – 10 years.

Who can open an NRE FD with HDFC Bank?

Non-resident Indians with a valid visa and passport can apply for NRI deposits with HDFC Bank.

What is the penalty charged by HDFC Bank on premature withdrawal of NRI deposits?

There is a penalty of 1% charged on premature withdrawal of NRI FD.

Is there any tax on HDFC NRE Fixed Deposit?

No. NRE FD with HDFC Bank does not attract any taxes in India. However, it shall be chargeable in the residence country of the depositor.

What are the online facilities available with HDFC Bank to manage NRI fixed deposit accounts?

The following facilities are available online for HDFC NRI FD:

– Registration for Net Banking facility
– Registration for E-Statements
– A download of TDS Certificate
– Add or Change Nominee to the existing fixed deposit
– Breaking of fixed deposit
– Changing contact details
– PAN Updation

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