The 117-Day Fixed Deposit (FD) scheme of HDFC Bank for 2025, is nothing else but a short-term investment option meant for individuals who are through taking risks and just want to enjoy higher returns even if for a very short time. The scheme is popularly known as the 117-day FD and this tenure is about 4 months, which means that it can be ideal for persons wanting to make some money by way of interest from their parked money better than in a normal savings account.
Interest Rates And Potential Returns
The scheme offers a very attractive interest rate of 6.60% per year for general customers and 7.10% per year for the pensioners. The rates are far above the rates of most savings accounts and hence this scheme is a good place to park money for the short term. For instance, by depositing ₹1,00,000 in this FD the customer will receive approximately ₹1,890 on the day of maturity as interest. Senior citizens will get 0.50% more as a gift and that will be the icing on the cake. The amount is assured and the return is predictable making this FD a more preferable choice than market-linked products, especially for those who are aversive to risks.
Key Features And Convenience
HDFC Bank does not put any restrictions on this FD scheme as far as the customers are concerned. They can either set up the account online with the help of the net-banking facility or the mobile app, or they can simply walk into any branch. The FD can be taken in the cumulative mode wherein the principal along with the interest is paid at maturity, or a non-cumulative mode where interest is paid periodically. The deposit is also protected by the standard deposit insurance limit making the principal amount safe. In the event of emergencies, an early withdrawal can be made minus a small penalty, which is the customer’s benefit of getting cash when needed.
Who Should Select This FD
This FD of 117 days duration is a good choice for those who have extra cash for a short period and want high, secure returns. It is a perfect option for people saving for short-term goals, workers who have money waiting to go into long-term investments and seniors who like stable returns with very low risk. Besides, it is a great choice for people whose money is idle because they want to avoid market volatility and still let it grow.
Important Points To Think About
The FD offers great interest rates but the return is still low because of the short duration. For the creation of wealth over a long term, other investment avenues could be more efficient. Tax will be calculated on the FD interest earned according to the individual’s income tax slab, and TDS will be applicable if the overall interest income exceeds the stipulated limits. Moreover, investors are advised to confirm the prevailing rates before making a deposit, as banks regularly change their FD rates in accordance with market conditions.
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