Fixed deposits are one of the safest investment avenues and remain the most popular ones among Indian clients. To capture more depositors along with the opportunity to give better returns, HDFC Bank has launched a special FD scheme of 450 days tenure. The scheme offers higher interest rates than normal deposits and is thus suitable for earning secure short-term interests with a guarantee.
Special FD Scheme of 450 Days
The newly introduced FD scheme runs strictly for a maturate period of 450 days. By making use of this tenure, investors can garner returns higher than the standard FD rates offered by the bank. The scheme is open to general customers as well as senior citizens, with an added interest rate higher advantage for seniors.
Interest Rates and Returns
Rates offered by HDFC Bank under this scheme are very lucrative. For common customers, the rates remain around 7.10 percent per annum, whereas the interest rate can go up to 7.60 percent per annum for senior citizens.
- An amount of Rs 1,00,000 invested under this plan for 450 days fetches very much higher maturity amount than an ordinary FD.
- Senior citizens are bound to gain further on account of additional rate of interest.
Features of the Scheme
The 450-day FD scheme is meant for investors seeking a secure investment with short-term rewarding returns. These are the prime features of the Scheme:
- Higher returns as compared to regular FDs.
- Exact short-term tenure of around 15 months.
- Additional interest benefit to senior citizens.
- Option of cumulative or non-cumulative payouts.
- Safe and risk-free investment backed by the Bank.
Why This FD Will Catch Your Eye
As the market is still uncertain, investors sometimes look for risk-free investments. This FD ensures guaranteed earnings within a relatively short time frame. To balance between safety and good returns, the 450-day FD is unquestionably a good choice.
Conclusion
The HDFC Bank 450-day FD is a wonderful option for depositors looking for safe investment options. With the interest rates going up to 7.60% for senior citizens, it ensures bumper returns in just over a year. Anyone looking for a safe and rewarding short-term plan should consider this option for Deposit.