HDFC Bank FAQs

Merger FAQs

Your satisfaction matters to us. At HDFC Bank, we will continue treating exempt customers as exempt, allowing you to still benefit from a TDS waiver. This ensures a seamless and hassle-free banking experience for you.

We want to simplify the process for you. The threshold limit for TDS deduction will change from Rs. 5,000 to Rs. 40,000 for all HDFC Ltd customers. HDFC Bank will consider TDS deducted by HDFC Ltd on interest payments during the pre-merger period for monitoring the Rs. 40,000 thresholds (Rs. 50,000 for senior citizens). Any TDS deducted by HDFCL will be set off against the total TDS liability. Here's an example to illustrate when a TDS deduction is required:

Period	Paid/Accrued	Amount Paid- HDFC Limited	Amount Paid- HDFC Bank Limited	Cumulative Total	TDS	Remarks
Jun-23	Paid	7,000	3,750	10,750	700	TDS deducted by HDFC Limited only
Sep-23	Paid	7,000	3,750	21,500	-	no TDS as interest paid is less than Rs 40K
Dec-23	Paid	7,000	3,750	32,250	-	no TDS as interest paid is less than Rs 40K
Mar-24	Paid	7,000	3,750	43,000	3,600	TDS on Rs 36,000 to be deducted as threshold of Rs 40K breached.
	Total	28,000	15,000	43,000	4,300

We understand that this may be confusing for you. In the initial year of the merger, we will file TDS returns under two TAN. You will receive two TDS certificates, one from HDFC Bank and another from HDFC Ltd. Both certificates will be available in their respective systems. We will send it quarterly to ensure that you have the necessary documentation for your records.

Your peace of mind matters to us. Banks deduct TDS when the total interest income from all fixed deposits exceeds Rs. 40,000 per financial year (Rs. 50,000 for senior citizens). After the merger, we increased the threshold limit for FDs from Rs. 5,000 to Rs. 40,000. You can now enjoy more flexibility in managing your finances as we will not deduct any TDS until you exceed this limit.

Top Important FAQs

Existing Deposits/ new deposit/Renewals

Yes, you can change your renewal instruction to repayment on maturity online by logging into the customer portal and selecting change request

Prevailing card rate will be applicable on the renewal of Fixed Deposit.

Modification of Tenure and product variant of an existing Fixed Deposit is not permitted. Change instruction can be placed before maturity of fixed deposit to accommodate changes at the time of renewal of deposit.

Don't worry! The merger will not impact your existing HDFC Ltd FD. The way your Interest is calculated will remain the same until maturity.

Certainly! New fixed deposit can be open provided your KYC is updated in the bank, resident customer can open resident fixed deposit and NRI customer can open NRE/NRO/FCNR deposit as per extant bank’s T&C

To open new RD, we request you to open an account with the bank.

Don’t worry! your existing RDs will continue as it is, monthly instalment will be debited from the linked account of other bank as per the mandate submitted.

We care about your financial well-being and want to ensure that you understand the TDS calculation process. As an HDFC Bank customer, TDS is deducted from your FD when your total interest exceeds the threshold limit of Rs.40,000/- (Rs.50,000/- for senior citizens) in a financial year.

Further, TDS is recovered at the end of the financial year on Interest accruals if applicable. For NRO Deposit DTAA benefit will be extended as per bank’s terms and conditions. In absence of DTAA, TDS at the rate of 30%+ surcharge will be applicable on NRO deposit

TDS is not applicable for Interest earned on NRE/FCNR deposits

No, loan against deposit is not available.

Pre mature withdrawal

Yes, the maturity amount paid will be adjusted based on the tenure the deposit was maintained with the bank and factoring TDS implications post-merger.

Premature withdrawal will not be allowed before completion of 3 months from the date of acceptance of deposit. In case request for premature withdrawal after the expiry of 3 months, the rates given in the following table shall apply.

Months completed from the date of deposit	Rate of Interest Payable
Minimum lock in period	3 months
After 3 months but before 6 months	The interest payable shall be 3% per annum for individual depositor, and no interest in case of other category of depositors.
After 6 months but before the date of maturity	The interest payable shall be 1% lower than the interest rate applicable for the period for which the deposit has run or if no rate has been specified for that period, then 2% lower than the minimum

Access : FD/ Statements/ Forms/Certificates

Thank you for being a valued customer. For all FDs booked through HDFC Ltd, you can still see them through the Customer portal until the FD matures. After this FD is renewed, it will reflect in your HDFC Bank Net Banking.

Certainly! You can download your statement of accounts/deposit summary for all FDs opened with HDFC Bank through HDFC Bank Net Banking.

Absolutely! For existing customers (stock FDs) of HDFC Ltd, you can submit Form 15G/H or DTAA at HDFC Bank Branches. We're here to make it convenient for you!

The maximum interest not charged to tax during the financial year where form 15 G/H is submitted is as below:

Up to 3, 00,000/- for residents of India below the age of 60 years or a person (not being a company or firm).
Up to 7,00,000/- for senior citizen residents of India above the age of 60 years any time during the FYs

Form 15 G/H is not applicable to NRIs instead DTAA can be submitted

We've got you covered! You can easily get your interest certificate in two ways:

You can access existing deposits through the CP portal or at any HDFC Ltd erstwhile branches.
A provisional Interest certificate is no longer available, but we have other options for you.

Change / Updating of contact Details

Your mobile number cannot be changed online. You can visit an HDFC Bank Branch and apply for Mobile no change.

Address updation across all Savings and FD accounts needs to be done by applying for address updation at HDFC Bank Branch by submitting the requisite proof.

Customer FAQs

Product Led Customer Queries

Servicing of Existing FDs

Rest assured, your existing FD number will remain the same, and there will be no changes to your FD account number.

Don’t worry; your FD number has not changed. It will continue to be the same as before.

Thank you for being a valued customer. For all FDs booked through HDFC Ltd, you can still see them through the Customer portal.

Interest Computation

Don't worry! The merger will not impact your existing HDFC Ltd FD. The way your Interest is calculated will remain the same until maturity.

You're all set! Due to the merger, there will be no changes to the interest pay-out on your 5-year FD with a monthly pay-out option. The Interest will continue to be computed and paid monthly, just like before.

Scenario 1: 5-Year, Reinvest Interest. A: Sure! For a 5-year Reinvestment FD booked with HDFC Bank, the interest rate payable on the FD will be as per the published card rate of the Bank on the booking date. Interest rates published by HDFC Bank are computed quarterly.

Scenario 2: 5-Year, Monthly/Quarterly Pay-out of Interest. A: Absolutely! For a 5-year Monthly/Quarterly FD, the interest rates payable will be in line with the published card rate of the Bank on the date of booking the FD. In addition, the computation of Interest and pay-out will be in line with your chosen pay-out instruction of Monthly/Quarterly, just like you prefer.

Scenario 3: Half-yearly/Annually Pay-out of Interest. A: This option is not available for new/renewal deposits. Only the Monthly/Quarterly pay-out option is available to make it simpler for you.

Yes, absolutely! Your deposit will continue to earn compounded interest until maturity, as per the terms and conditions of the product and your existing migrated deposit contract.

Yes, you can earn compounded interest on your fixed deposits! However, please note that if you choose the monthly or quarterly interest payout option, compounding interest will not be payable. Compounding interest will only be applicable on reinvestment deposits and will be compounded quarterly.

At HDFC Bank, we calculate interest rates yearly, but payouts and accruals happen every quarter. When you choose monthly payouts, we pay out interest before the quarter is completed, so we apply lower rates to normalize your payments.

Product Change, Tenure Change, Rate Change

Unfortunately, any modifications to an existing fixed deposit's tenure or product variant are not allowed. However, if you wish to make changes, you can place a change instruction before the maturity of your fixed deposit. It will allow you to make changes at the time of renewal of the deposit. You can provide maturity instructions online and at any HDFC Bank branch.

FD Renewal

We're glad you asked! When you renew your HDFC Limited deposit, we'll make sure you receive the best interest rates possible. We'll apply the prevailing card rate then, ensuring you get the most out of your investment.

We're sorry to hear that your FD wasn't auto-renewed. Please note that completion of your KYC/VKYC is required to renew your FD or book a new FD. Only after obtaining your consent will we book the renewal for you.

Great question! At HDFC Bank, we initiate communication through multiple mediums, such as email, SMS, and mail, starting 30 days prior to the renewal date of your FD. We will inform you about the completion of your KYC and update your maturity instruction, if any, for renewal.

We appreciate your query. Yes, to renew your FD, we consider it as a new FD booking. Therefore, we require you to sign a new application with renewed terms and conditions applicable for deposit booking with HDFC Bank. Alternatively, you can accept the Bank's terms and conditions online or digitally. We apologize for any inconvenience this may cause.

That's a great question! Suppose you have an existing HDFC Limited deposit with us. It will be auto-renewed in a suitable HDFC Bank deposit product with prevailing interest rates. Here are the different scenarios you may encounter:

Scenario 1: Reinvest Interest - If you have a reinvestment FD booked with HDFC Limited, it will be renewed under a suitable HDFC Bank product with the same tenor and prevailing value bucket. The interest rate payable on the FD will be as per the published card rate of the Bank on the booking date. We calculate our interest rates quarterly.

Scenario 2: Monthly/Quarterly Payout of Interest - If you have a monthly/quarterly FD, the interest rates payable will be in line with the published card rate of the Bank on the date of booking the FD. The computation of interest and payout will be in line with your chosen payout instruction of monthly/quarterly. You can also use our FD calculator on the website to understand the interest illustration and payment schedule.

Scenario 3: Half-yearly/Annually Payout of Interest - Unfortunately, this option is not available for new/renewal deposits. We only offer the monthly/quarterly payout option to make it simpler for you.

Scenario 4: Non-Withdrawable Deposit - Your existing HDFC Limited deposit will not be auto-renewed, except for lien-marked deposits. Maturity proceeds will be credited/deposited to your linked CASA account. You can book a fresh FD as per your requirement after that.

Scenario 5: Green Deposit. A:

Scenario 6: Non-Resident Deposit. A:

Scenario 7: High Liquidity Coverage Ratio (LCR) Deposit: In the case of a High LCR Deposit, entities such as Insurance Businesses, Nidhi Companies, Chit Fund Businesses, Merchant Banking businesses, Housing Finance, NBFCs, Micro Finance, Agri Finance, Government Entities only where the government has a minority stake, Limited Liability Partnerships, Banks, Partnership firms, Proprietary firms, Trusts, Credit Society, Financial Institution, NBFC's, Pension and provident Funds, Mutual Funds, and Others-Institutes/ schools/ societies/ Associations/ HUF, etc. will be treated as High LCR deposit customers. Bulk Deposit bookings for such entities will be made in dedicated value buckets under a withdrawable or non-withdrawable deposit.

Part Renewal

Thank you for your query. Unfortunately, we do not accept part-renewal requests. On maturity, we transfer the maturity proceeds to your linked CASA account. You can book a fresh deposit per your choice of tenor and value.

Higher Rate for Shareholders

Yes, you will continue to receive the higher rate until the maturity of your existing contract. We value our loyal customers and will honor our commitment to you. Thank you for choosing HDFC Bank.

While we appreciate your loyalty and past support, we no longer offer a higher rate of interest for shareholders, Home Loan customers, HDFC Group Staff, Digitally booked FDs, or customers referred by existing or retired HDFC Ltd staff. However, we do offer a preferential rate to senior citizens, including shareholders who are also senior citizens. We believe in treating all customers fairly and equally. Thank you for your understanding and for choosing HDFC Bank.

Pre-Mature Liquidation

We're sorry to hear that you need to liquidate your deposit early. Just to let you know, the maturity amount paid will be adjusted based on the tenure of the deposit and TDS implications post-merger. If you need more information on premature liquidation, don't hesitate to reach out to our customer service team or visit your nearest HDFC Bank branch. We're here to help and support you in any way we can.

We're glad you asked! We're happy to inform you that premature withdrawal will be allowed after the completion of 3 months from the deposit's acceptance date. If you wish to request premature withdrawal after the expiry of 3 months, please note that the applicable rates are given in the following table.

Months completed from the date of deposit	Rate of Interest Payable
Minimum lock in period	3 months
After 3 months but before 6 months	The interest payable shall be 3% per annum for individual depositor, and no interest in case of other category of depositors.
After 6 months but before the date of maturity	The interest payable shall be 1% lower than the interest rate applicable for the period for which the deposit has run or if no rate has been specified for that period, then 2% lower than the minimum

We're sorry that you need to liquidate your Fixed Deposit booked with HDFC Ltd. prematurely and subsequently renew or newly book with HDFC Bank. Please note that in such cases, the interest rate payable shall be 1.00% below the contracted rate or the base rate applicable for the period the deposit was held, whichever is lower. Please refer detailed premature terms and conditions on www.hdfcbank.com <please give the page link and not hdfcbank.com>

We understand that you may require Sweep-in or partial withdrawal facility on your HDFC Ltd Deposit. However, such facilities will not be allowed on migrated deposits until maturity.

We understand you may have questions about your deposit withdrawal after the merger. Please note that a lock-in of 3 months will be continued for existing erstwhile HDFC Limited Deposits.

Don't worry; we understand your concern and assure you we won't charge any brokerage or commission from your deposit account during liquidation.

We're happy to have you as our customer and appreciate your association with HDFC Ltd. Please note that senior citizen customers receive additional interest rates per our bank policy. The same benefits will apply to new Fixed Deposits and renewals.

Home Loan
Deposits

Frequently Asked Questions on Fixed Deposits with HDFC

Your FD Account Number continues to be the same and will remain the reference point for all your future communications with HDFC Bank
The terms of your FD along with interest rates, interest computation methodology, tenure, maturity instructions and pay-outs will remain same until maturity/renewal of your FD
Your existing Deposit Receipt issued by HDFC Ltd will continue to be valid till the maturity of the FD

You would continue to have access to HDFC Limited Customer Portal (https://portal.hdfc.com/?ref_code=HDFC_W), as you could before the event of merger
Your existing login credentials and password will continue for the Customer Portal

Your existing HDFC Limited FD will also be covered by guarantee from DICGC, within an overall maximum limit of Rs 5 lacs (Principle & Interest) post-merger with HDFC BANK

If the renewal date falls beyond the effective date of merger, renewal of FD will happen as per Bank’s terms and the Bank’s prevailing rates at the time of renewal, as available on the HDFC Bank website (https://www.hdfcbank.com/personal/resources/rates)
Individual customers can change the maturity instructions (renewal to repayment or vice versa) on FD with HDFC Limited through (Customer Portal https://portal.hdfc.com/?ref_code=HDFC_W) or by clicking here <<Change of Maturity Instruction link>> or by visiting existing Deposit offices of HDFC or any other HDFC Bank branches
Non-Individual customers can change the Maturity Instructions (renewal to repayment or vice versa) on Fixed Deposit with HDFC Limited by submitting request at existing branch offices of HDFC or any other HDFC Bank Branches

Yes, you will continue to be serviced by your existing Deposit Offices , as it was before the event of Merger In addition you may reach out to any of the 7500+ branches of HDFC Bank

The Bank is committed to continue the arrangement with your associated Agent and they will be able to offer you services related to FDs
In addition, the Agents will now be able to offer you other banking products, like Savings Account, Current Accounts, Credit cards and an array of Loan product

Individuals can book deposit with HDFC Bank through the following channels
1. HDFC Limited Customer Portal,
2. HDFC Bank Branches including HDFC Deposit Offices,
3. HDFC Bank NetBanking – in case they have an account with HDFC Bank
4. Any other digital platform of HDFC bank

You may reach out to Deposit Agent associated with your deposits or your assigned Relationship Manager with HDFC Bank

Non Individuals (Entities & Trusts) : Physical Application at HDFC Bank Branches including HDFC Deposit Offices. You may reach out to Deposit Agent associated with your deposits or your assigned Relationship Manager with HDFC Bank

NRE/ FCNR Deposits: You can open New NRE/ FCNR Term deposit with HDFC Bank on Bank’s T&C. In order to open NRE/FCNR deposits online, you need to open a new NRE Savings/Current account. In case you already hold NRE Savings/Current account with HDFC bank then you may visit our netbanking for placing request for NRE/FCNR Term deposit opening. In case you wish to open NRE Savings/Current Account but are unable to visit the branch you can fill in our NRI lead application form (Click Here) and our account opening team will assist you further, alternatively, in case you are able to visit any of our branches then you can submit physical application for opening NRE/ FCNR Term deposits and NRE Savings/Current Account opening at the branch.

NRO Deposits: You can open New NRO Term deposit with HDFC Bank on Bank’s T&C. In order to open NRO deposits online, you need to open a new NRO Savings/Current account. In case you already hold NRO Savings/Current account with HDFC bank then you may visit our netbanking for placing request for NRE/FCNR Term deposit opening. In case you wish to open NRO Savings/Current Account but are unable to visit the branch you can fill in our NRI lead application form (Click Here) and our account opening team will assist you further, alternatively, in case you are able to visit any of our branches then you can submit physical application for opening NRO Term deposits and NRO Savings/Current Account opening at the branch.

Please Note : The new deposit placements may require you to complete requirements with regard to ‘Know Your Customer’ guidelines. Kindly visit your HDFC Bank Branch including erstwhile HDFC Limited deposit centre to complete the KYC process. Alternatively you may do it online by clicking here <<Link>>

NRI depositors need to submit physical request to update RE KYC on bank records or in case they wish to make any demographic details like address, contact details, DOB updation etc updated on erstwhile HDFCL NRO Deposit accounts. The forms and documents required would be as per existing process of HDFC bank applicable for NRI Customers .

NRI RE KYC form – Click here

Address updation form – Click Here

NRI RE KYC updation request can be submitted at any nearest branch by visiting the bank branch in person with all original KYC documents. In case you are unable to visit the branch and wish to submit the request under non face to face basis then along with RE KYC form you need to submit certified copies of KYC documents and KYC documents needs to be certified by designated authorities

Click Here for list of acceptable NRI KYC documents

Click Here for list of designated authorities

FDs held with HDFC Limited will continue to be shown and serviced through Customer Portal and will not be available on HDFC Bank Net/Mobile Banking.

New deposit booked through Customer Portal will also continue to be serviced through it

If you are an existing customer of HDFC Bank with NET/Mobile Banking access:

HDFC Limited deposit booked before June 30 2023: HDFC Customer Portal only
HDFC Bank Fixed Deposit: HDFC Bank Net/Mobile Banking
Deposit booked through Customer Portal after June 30, 2023: Both HDFC Customer Portal & HDFC Bank Net /Mobile Banking

Pre-Mature withdrawal of FD : Premature liquidation of erstwhile HDFC Ltd deposit will be done as per premature withdrawal terms & conditions applicable on HDFC LTD deposit<<elink of HDFC ltd T&C>>. You can continue to effect it through Branches, Agents or Customer Portal like before

Recurring Deposits : Your existing recurring deposit will continue and monthly instalment will be debited from the linked account as updated against the RD as per the mandate submitted.
New Recurring Deposit with HDFC Bank : To open new RD, we request you to open a Savings Account with HDFC Bank through which you can book an RD.

The existing threshold limit for TDS deduction is Rs 5,000 for the customers of the HDFC Ltd. After merger threshold limit of Rs 5,000 will change to Rs 40,000 (Rs 50,000 for senior citizens) for all the existing customers of HDFC Ltd.

Interest paid/ reinvested/ accrued by both HDFC Bank and HDFC limited for the full financial year will be added for arriving at the threshold of Rs 40,000 (Rs 50,000 for senior citizens)

Example: Assuming the interest paid to a customer is Rs 22,000 for deposits with HDFC Ltd and the same customer is paid interest of Rs 20,000 by HDFC Bank. As the combined interest is Rs 42,000 TDS will be deducted on the aggregated interest.

The threshold limit of TDS deduction for HDFC Ltd customers will change from Rs 5,000 to Rs 40,000/- (Rs 50,000/- for senior citizens). If any TDS is already deducted before merger by HDFC ltd basis earlier threshold of Rs 5,000, it will be adjusted towards future TDS obligation for the Financial Year. However, if such adjustment cannot happen as there is no future TDS obligation, then the customer will have to claim credit while filing his tax returns basis the TDS certificate issued. HDFC Bank cannot make refund of TDS rightly deducted by HDFC Ltd in the pre-merger period.

Period	Paid/Accrued	Amount Paid- HDFC Limited	Amount Paid- HDFC Bank Limited	Cumulative Total	TDS	Remarks
Jun-23	Paid	7,000	3,750	10,750	700	TDS deducted by HDFC Limited only
Sep-23	Paid	7,000	3,750	21,500	-	no TDS as interest paid is less than Rs 40K
Dec-23	Paid	7,000	3,750	32,250	-	no TDS as interest paid is less than Rs 40K
Mar-24	Paid	7,000	3,750	43,000	3,600	TDS on Rs 36,000 to be deducted as threshold of Rs 40K breached.
	Total	28,000	15,000	43,000	4,300

Interest Rate Range for the past quarter for advances granted to individual borrowers

Individual Housing: (Jan-March 2023 Quarter)

Min (%)	Max (%)	Wt Avg. (%)	Mean (%)
8.30	13.50	8.80	9.88

Individual Non-Housing: (Jan-March 2023 Quarter)

Min (%)	Max (%)	Wt Avg. (%)	Mean (%)
8.35	15.15	9.20	10.32

Please visit https://portal.hdfc.com/login and post Login click on Requests > Conversion Enquiry tab for any further details in this regards.

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Merger FAQs