HDFC Trust Deposits is a specified investment under Section 11(5) (ix) of the Income Tax Act, 1961. Trusts and other institutions can invest in any of our deposit plans, depending on their cash-flow needs.

Monthly Income Plan

  • Provides you with regular monthly income.
  • Monthly interest is directly credited to your bank account through ECS.
  • Ideal for planning the trust's regular monthly expenses.
  • Available in Fixed & Variable Interest Rates.
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Non-Cumulative Interest Plan (Quarterly and Half-yearly)

  • Provides you with regular periodic interest income either on a quarterly or a half-yearly basis.
  • Available in Fixed & Variable Interest Rates.
  • Ideal to plan the fund requirements at the end of each quarter/half-year.
  • Interest will be directly credited to your bank account through ECS.
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Annual Income Plan

  • Provides you with regular yearly interest income.
  • Ideal option to maximize returns and plan for annual cash outflows.
  • Available in Fixed & Variable Interest Rates.
  • Interest will be directly credited to your bank account through ECS.
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Cumulative Option

  • Provides you with a lump sum at the end of the deposit tenure.
  • Ideal for parents to plan for their child’s higher education/marriage.
  • Ideal option to accumulate funds for future requirements and maximize returns.
  • Available in Fixed & Variable Interest Rates.
Click here to view Interest Rates


Interest Payment Details

Interest will be payable on the deposit from the date of realisation of cheque or RTGS transfer to HDFC's bank account. Interest on deposits placed under Monthly Income- Plan, Non-Cumulative Option and Annual Income Plan, shall be paid on fixed dates as given below:

Monthly Income Plan (MIP) The last day of every month
Non-Cumulative : Quarterly Option June 30, September 30, December 31 & March 31
Non-Cumulative : Half-yearly Option September 30 and March 31
Annual Income Plan (AIP) March 31

Cumulative Interest Option: Interest will be compounded annually on 31st March of every year after deducting the tax, wherever applicable. The principal along with the interest will be paid on maturity once the discharged deposit receipt is received by us. Interest amount (net of TDS - where applicable) will be paid through ECS at all centres where ECS facility is available. Where ECS facility is not available, interest cheque will be paid through Account Payee cheque drawn in favour of the first-named depositor along with his bank account details furnished. In case of MIP, post-dated interest cheques for every financial year will be issued in advance. Interest on Monthly Income Plan under Variable Rate Deposit will be credited to the depositor's bank account on the last day of the month through ECS only. Interest will accrue after the maturity date only if the deposit is renewed.

Interest Reset Date for Variable Rate Deposits

Rate of interest (RoI) will be reset at the beginning of each interest period. RoI prevailing on the first day of the interest period will be applicable for the entire interest period.

Deduction Of Income Tax at Source (TDS)

Income tax will be deducted at source under Section 194A of the Income Tax Act, 1961, at the rates in force. If the depositor is not liable to pay income tax and the interest to be paid/credited in a financial year does not exceed the maximum amount which is not chargeable to income tax, the depositor may submit a declaration in Form No. 15G so that income tax is not deducted at source. In such cases, PAN (Permanent Account Number) must be quoted in the declaration, else the declaration is invalid. Section 139A(5A) of the Income Tax Act, 1961, requires every person receiving any sum or income from which tax has been deducted to intimate his PAN to the person responsible for deducting such tax. Further, 139A(5B) requires the person deducting such tax to indicate the PAN on the TDS certificate. Please mention your PAN in the application form if the annual interest exceeds Rs. 5000 per branch. In case PAN is not mentioned, the rate of TDS would be 20% as against 10% for cases where PAN is provided effective April 1, 2010.

Premature Withdrawal

Your request for premature withdrawal may be granted at the sole discretion of HDFC and cannot be claimed as a matter of right, subject to the Housing Finance Companies (NHB) Directions, 2010, as applicable from time to time.

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

Months completed from the date deposit  Rate of Interest Payable
After 3 months but before 6 months The maximum interest payable shall be 4% 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 one percent lower than the interest rate applicable to a public deposit for the period for which the deposit has run or if no rate has been specified for that period, then two percent lower than the minimum rate at which the public deposits are accepted by HDFC.
Renewal and Repayment Deposit

For the renewal or repayment of deposit, the duly discharged deposit receipt must be surrendered to HDFC at least a week before the date of maturity. In case of renewal, the prescribed application form signed by all depositors is also required to be submitted simultaneously. When the date of maturity falls on any day on which HDFC's office remains closed, the repayment will be made on the next working day. Repayment of deposit will be made by Account Payee cheque drawn favouring the first depositor or by crediting the amount directly to first depositor's bank account through NEFT/RTGS, based on request from the depositor.

Know Your Customer (KYC) Compliance

In terms of the Prevention of Money Laundering Act, 2002, the rules notified thereunder and KYC Guidelines issued by the National Housing Bank (NHB), every depositor is required to comply with the KYC requirements by submitting the required documents for various categories mentioned on the reverse of the Application Form. In case the documents are submitted in any of the previous deposits, please provide the customer number.