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Home > Fixed Deposit – An Overview

Fixed Deposit – An Overview

It is our privilege to introduce to you ‘DHFL Fixed Deposit Products’ which score high on returns, safety and liquidity. A testimony to our quality portfolio is our rating – AAA (FD) by CARE and BWR FAAA by Brickworks – indicating highest degree of safety regarding timely servicing of financial obligations. DHFL’s FD products bring with them the stability of DHFL’s over 30 years of successful business operations.

In addition to this, another attribute of DHFL Fixed Deposits is its varied and customized deposit options for different customer types. DHFL’s FD Product ‘Aashray Deposit Plus’ has speDouble My Money

cialized variants for Individuals, Companies, Societies, Clubs and Trusts with tenures ranging from 12 to 120 months and interest rates up to 9.15%. DHFL also offers a specialized Fixed Deposit product for Women investors, namely ‘Swayamsidha’.

As an added benefit, DHFL Fixed Deposit Products for individual investors come with free accidental death insurance of `1 lakh (One Lakh). (For the first depositor in case the Fixed Deposit is held jointly.)

Individual customers who are Senior Citizens, Widows, Armed Forces personnel, DHFL Home Loan/SME Loan/Mortgage borrowers are accorded privilege customer status on “DHFL Aashray Deposit Plus” and “Swayamsidha” products and thus get an additional 0.25% interest rate.

Please call us on the toll free number 1800 22 3435 or text DHFL to 56677 for further information on DHFL Fixed Deposit Products.

 

Ratings

CARE AAA (FD)

Indicates highest degree of safety regarding timely servicing of financial obligations

BWR (FAAA)

Indicates highest degree of safety regarding timely servicing of financial obligations

Fixed Deposit Renewal Policy:

With effect from the 1st April, 2014, Fixed Deposit will be renewed from the maturity date at the rate prevailing on the said date, if renewal request is received within 6 months of the maturity date, the FDR value date in such case will be the deposit maturity date and not the date of receiving request from the branch.

If the deposit renewal request is received after 6 months from the deposit maturity date, the value date of the renewed deposit will be the date on which FDR along with renewal request is received at the branch and not the maturity date. The rate of interest applicable on the renewed FD will be the rate prevailing on the date the FDR is received at the branch and not the rate prevailing on the date of maturity.

If the deposit renewal request is received after 6 months from the deposit maturity date, no interest will be payable on the deposit for the interim period between the date of maturity and the date of renewal.


Highlights of Fixed Deposit Products

  • Safe, secure earnings of short/medium/long term investment
  • Additional earnings for Senior Citizens, Widows, Armed Forces personnel, DHFL Home Loan/SME Loan/Mortgage borrowers
  • Additional earnings on deposits of ` 50 Lacs & above
  • Liquid Investments
  • Prompt and timely payments
  • ECS facility for interest payments
  • Hassle free process

Interest Rates on Fixed Deposits

Aashray Deposit Plus 12 to 120 Months, 14 Months, 40 Months – All Investors

Aashray Deposit – Individual

For Deposit Amount < Rs. 50 Lacs

Tenure
(Months)

Minimum  Deposit
(for Cumulative Scheme)

Cumulative

Non-Cumulative

Monthly

Quarterly

Half Yearly

Yearly

12

Rs. 2000

8.50%

8.10%

8.20%

8.30%

8.50%

14

Rs. 10000

8.75%

8.35%

8.40%

8.55%

8.75%

24

Rs. 2000

8.75%

8.35%

8.40%

8.55%

8.75%

36

Rs. 2000

8.75%

8.35%

8.40%

8.55%

8.75%

40

Rs. 2000

8.90%

8.50%

8.55%

8.70%

8.90%

48-120

Rs. 2000

8.75%

8.35%

8.40%

8.55%

8.75%

For Deposit Amount  Rs. 50 Lacs and above

Tenure
(Months)

Minimum  Deposit
(for Cumulative Scheme)

Cumulative

Non-Cumulative

Monthly

Quarterly

Half Yearly

Yearly

12

Rs. 2000

8.75%

8.35%

8.45%

8.55%

8.75%

14

Rs. 10000

9.00%

8.60%

8.65%

8.80%

9.00%

24

Rs. 2000

9.00%

8.60%

8.65%

8.80%

9.00%

36

Rs. 2000

9.00%

8.60%

8.65%

8.80%

9.00%

40

Rs. 2000

9.15%

8.75%

8.80%

8.95%

9.15%

48-120

Rs. 2000

9.00%

8.60%

8.65%

8.80%

9.00%

Additional Rate of Interest : 0.25% for Privilege Customers ***

 *** Privilege Customers: Senior Citizens (Age 60 years and above),
Armed forces personnel, Widows, DHFL home Loan/SME Loan/Mortgage Loan borrowers
(appropriate proof should be attached)

 Non-Cumulative Scheme : Minimum deposit for monthly interest plan is Rs. 20000/-
For other non-cumulative scheme minimum deposit is Rs. 10000/-

Aashray Deposit – Trust

For Deposit Amount < Rs. 50 Lacs

Tenure
(Months)

Minimum  Deposit
(for Cumulative Scheme)

Cumulative

Non-Cumulative

Monthly

Quarterly

Haly Yearly

Yearly

13*

Rs. 50000

8.75%

8.35%

8.40%

8.55%

8.75%

For Deposit Amount  Rs. 50 Lacs and above

Tenure
(Months)

Minimum  Deposit
(for Cumulative Scheme)

Cumulative

Non-Cumulative

Monthly

Quarterly

Haly Yearly

Yearly

13*

Rs. 50000

9.00%

8.60%

8.65%

8.80%

9.00%

 * 13 Months : DHFL Trust Deposit (Only for Trust. No Privilege customer benefit)

 Non-Cumulative Scheme : Minimum deposit for monthly interest plan is Rs. 20000/- 
For other non-Cumulative scheme minimum deposit is Rs. 10000/-

Swayamsidha Deposit

For Deposit Amount < Rs. 50 Lacs

Tenure
(Months)

Minimum  Deposit
(for Cumulative Scheme)

Cumulative

Non-Cumulative

Monthly

Quarterly

Haly Yearly

Yearly

18**

Rs. 10000

8.85%

8.45%

8.50%

8.65%

8.85%

For Deposit Amount  Rs. 50 Lacs and above

Tenure
(Months)

Minimum  Deposit
(for Cumulative Scheme)

Cumulative

Non-Cumulative

Monthly

Quarterly

Haly Yearly

Yearly

18**

Rs. 10000

9.10%

8.70%

8.75%

8.90%

9.10%

 Additional Rate of Interest : 0.25% for Privilege Customers ***

 ** 18 Months : DHFL Swayamsidha Deposit (Only for female investors )

 *** Privilege Customers: Senior Citizens (Age 60 years and above), Armed
forces personnel, Widows, DHFL home Loan/SME Loan/Mortgage Loan borrowers
(appropriate proof should be attached)

Non-Cumulative Scheme : Minimum deposit for monthly interest plan is Rs. 20000/- 
For other non-Cumulative scheme minimum deposit is Rs. 10000/-

Small Savings Scheme (Recurring Deposit)

Period (in Months)

Monthly Minimum Deposit

Rate of Interest (% p.a.)

12 Months to 120 Months

Rs. 500

8.75%

No additional benefit to RD scheme

Double My Money

Minimum  Deposit
(for Cumulative Scheme)

For Deposit
Amount < Rs.50 Lacs

For Deposit Amount  Rs. 50 Lacs and above

Cumulative

Cumulative

Rs. 10000

98 Months for deposits up to Rs. 50 Lacs
95 Months for deposits of Rs. 50 Lacs and above

 No additional benefit to Double my Money scheme

Wealth2Health

For Deposit Amount < Rs. 50 Lacs

Tenure
(Months)

Minimum  Deposit
(for Cumulative Scheme)

Cumulative

Non-Cumulative

Monthly

Quarterly

Half Yearly

Yearly

12

Rs. 25000

8.50%

8.10%

8.20%

8.30%

8.50%

14

Rs. 25000

8.75%

8.35%

8.40%

8.55%

8.75%

18**

Rs. 25000

8.85%

8.45%

8.50%

8.65%

8.85%

24

Rs. 25000

8.75%

8.35%

8.40%

8.55%

8.75%

36

Rs. 25000

8.75%

8.35%

8.40%

8.55%

8.75%

40

Rs. 25000

8.90%

8.50%

8.55%

8.70%

8.90%

48-120

Rs. 25000

8.75%

8.35%

8.40%

8.55%

8.75%

For Deposit Amount  Rs. 50 Lacs and above

Tenure
(Months)

Minimum  Deposit
(for Cumulative Scheme)

Cumulative

Non-Cumulative

Monthly

Quarterly

Half Yearly

Yearly

12

Rs. 25000

8.75%

8.35%

8.45%

8.55%

8.75%

14

Rs. 25000

9.00%

8.60%

8.65%

8.80%

9.00%

18**

Rs. 25000

9.10%

8.70%

8.75%

8.90%

9.10%

24

Rs. 25000

9.00%

8.60%

8.65%

8.80%

9.00%

36

Rs. 25000

9.00%

8.60%

8.65%

8.80%

9.00%

40

Rs. 25000

9.15%

8.75%

8.80%

8.95%

9.15%

48-120

Rs. 25000

9.00%

8.60%

8.65%

8.80%

9.00%

Additional Rate of Interest : 0.25% for Privilege Customers***

 **18 Months : DHFL Swayamsidha Deposit (Only for female investors )

 *** Privilege Customers: Senior Citizens (Age 60 years and above), Armed
forces personnel, Widows, DHFL home Loan/SME Loan/Mortgage Loan borrowers

FAQs

  1. What is the minimum deposit amount required for opening FD account?
    The minimum amount required for opening a Fixed Deposit account is ` 2,000. Additional Deposit over the minimum amount to be in multiple of ` 1,000/-.
  2. What is the minimum tenure for which I can place a Fixed Deposit?
    The minimum tenure for a Fixed Deposit is 12 months.
  3. What is the range of tenure in which I can open a FD account?
    You can deposit money for 12 months and up to 120 months.
  4. Do senior citizens get any extra benefit on the FD?
    Yes, senior citizens will get an additional interest rate of 0.25 %.
  5. What are nomination facilities available on FD?
    The facility of Nomination is available for relationships in the names of individuals.
  6. Is TDS applicable on Fixed Deposit?
    Tax is deducted at source, from the interest on Fixed Deposits, as applicable, as per the Income Tax Act, 1961.
  7. When do I become liable for TDS?
    If the aggregate interest income that you are likely to earn for all your deposits held in a branch is greater than ₹ 5,000 in a financial year, you become liable for TDS.
  8. When is TDS deducted?
    TDS is made every time the Bank pays interest during the financial year and the above mentioned criterion is satisfied. In addition, Tax is also deducted when the interest is credited /cumulated in the case of cumulative deposits.
  9. How do I approach DHFL to open an FD?
    Customer may visit the nearest DHFL branch or he can visit the website for further assistance.
  10. Is there any Special offer?
    Yes. DHFL offers 0.25% additional interest for individuals in the categories of Senior Citizens, Widows, Armed Forces personnel, DHFL Home Loan/SME Loan/Mortgage borrowers (appropriate proof should be furnished ) DHFL also offers 0.25% additional interest rate for deposits more than or equal to ` 50 lacs.
  11. Is there any Special scheme?
    Yes. DHFL has a product namely “Swyamsidha Deposit” specially designed and dedicated to women.
  12. How do I redeem my FD?
    After maturity of your FD, you can walk into any branch across the country and redeem the same by furnishing your Fixed Deposit receipt.
  13. Can I redeem my FD before the original term?
    Yes, Fixed Deposit can be closed before the original term of the Fixed Deposit. In the event of the Fixed Deposit being closed before completing the original term of the deposit, interest will be paid at the rate applicable on the date of deposit, for the period for which the deposit has remained with DHFL. In case of premature withdrawal the deposit may be subject to penal rate of interest as prescribed in below mentioned tabular column.
Sr. No
Period completed from date of deposit
Rate of Interest payable (%p.a)
A Minimum Lock in period Three months
B After three months but before six months
Interest payable shall be 4% p.a. (for individual depositors). No interest is payable in case of other category of depositors
C After six 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 DHFL.

  • Can I obtain a loan from DHFL on the security of my FD?
    Yes, Loan against Fixed Deposit is available up to 75% of principal and accrued interest. You can approach us in any of the following ways:
  1. You may call our Toll Free Customer Care Centre at 1800223435 between 10 a.m. – 7 p.m.
  2. You may also SMS DHFL to 56677
  3. You can just walk-in to any of our branches.
  • Does DHFL have any specific Fixed Deposit scheme for TRUSTs / NPOs?
    Yes. DHFL offers an exclusively designed Fixed Deposit for Trusts / NPOs.
  • Is there any “Tax exemption” on Trust Fixed Deposit?
    Yes. Trust Deposit placed with DHFL qualifies under the category of specified investment as defined under section 11(5) (ix) of the Income Tax Act, 1961.
  • Does DHFL have any Recurring Deposit (RD) product?
    Yes, DHFL offers recurring deposit scheme for everyone at a very attractive rate of interest.
  • How can I contact DHFL FD executives?
  1. You may call our Toll Free Customer Care Centre at 1800223435 between 10 a.m. – 7 p.m.
  2. You may also SMS DHFL to 56677
  3. You may also visit any nearest branch of DHFL
  • On what basis TDS limit will be determined in case of several FDs in different joint names?
    For TDS purpose all deposits will be clubbed on the basis of first name of depositor.
  • Does an investor required to submit PAN No. to invest in Fixed Deposit?
    For deposits of ` 20,000/- or more, PAN No. of investor(s) is / are mandatory.

Do's and Dont's

DO’S

  1. Do make a nomination for your Fixed Deposit in your application Form.
  2. Do make your payment only through Cheque / Demand Draft.
  3. Do ask for a Fixed Deposit receipt provided by the company after the realisation of the cheque.
  4. Do provide the PAN No. at the time of investment in the Fixed Deposit scheme of the Company.
  5. Keep the FD Receipt in your safe custody.
  6. Do submit form 15G/15H, if applicable.
  7. Do send FDR duly discharged 15 days before maturity for renewal/ repayment.
  8. Do sign FD form/Cheque

DONT’S

  1. Don’t forget to check on Company’s past performance
  2. Do not entrust your Fixed Deposit Receipt to unknown persons who may misuse
  3. Do not issue cheque without ensuring balance in your account.
  4. Do not issue bearer cheque.
  5. Do not issue cheque which is not in multiple of ` 1000 or different than amount of FD filled in the form


Download Forms


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Deposit rates are effective from 30th April, 2016

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