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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 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 specialized variants for Individuals, Companies, Societies, Clubs and Trusts with tenures ranging from 12 to 120 months and interest rates up to 10.50%. 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 either existing DHFL shareholders / home loan borrowers, widows or armed forces personnel, Senior citizens (age above 60) are accorded privilege customer status on “DHFL Aashray Deposit Plus” and “Swayamsidha” products and thus get an additional 0.40% interest rate.

Please call us on the toll free number 1800 223 435 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
  • High Returns for longer tenures up to 120 months
  • Additional earnings for DHFL Shareholders,  Senior Citizens, existing DHFL Home Loan borrowers, Armed Forces Personnel and Widows
  • Liquid Investments
  • Prompt and timely payments
  • ECS facility for interest payments
  • Hassle free process

Interest Rates on Fixed Deposits

Aashray Deposit – Individual (Deposit < `50 lacs)
Tenure Cumulative Non-Cumulative
General
Customer
Privilege
Customer
General
Customer
Privilege
Customer
ROI
(p.a.)
ROI
(p.a.)
Monthly Quarterly Half
Yearly
Yearly Monthly Quarterly Half
Yearly
Yearly
12 Months 9.50% 9.90% 9.10% 9.20% 9.30% 9.50% 9.50% 9.60% 9.70% 9.90%
14 Months 9.75% 10.15% 9.35% 9.40% 9.55% 9.75% 9.75% 9.80% 9.95% 10.15%
24 Months 9.75% 10.15% 9.35% 9.40% 9.55% 9.75% 9.75% 9.80% 9.95% 10.15%
36 Months 9.75% 10.15% 9.35% 9.40% 9.55% 9.75% 9.75% 9.80% 9.95% 10.15%
40 Months 9.85% 10.25% 9.45% 9.50% 9.60% 9.85% 9.85% 9.90% 10.00% 10.25%
48 – 120
Months
9.60% 10.00% 9.20% 9.25% 9.40% 9.60% 9.60% 9.65% 9.80% 10.00%
Aashray Deposit – Individual (Deposit ` 50 lacs and above)
Tenure Cumulative Non-Cumulative
General
Customer
Privilege
Customer
General
Customer
Privilege
Customer
ROI
(p.a.)
ROI
(p.a.)
Monthly Quarterly Half
Yearly
Yearly Monthly Quarterly Half
Yearly
Yearly
12 Months 9.75% 10.15% 9.30% 9.40% 9.50% 9.75% 9.70% 9.80% 9.90% 10.15%
14 Months 10.00% 10.40% 9.55% 9.65% 9.75% 10.00% 9.95% 10.05% 10.15% 10.40%
24 Months 10.00% 10.40% 9.55% 9.65% 9.75% 10.00% 9.95% 10.05% 10.15% 10.40%
36 Months 10.00% 10.40% 9.55% 9.65% 9.75% 10.00% 9.95% 10.05% 10.15% 10.40%
40 Months 10.10% 10.50% 9.65% 9.75% 9.85% 10.10% 10.05% 10.15% 10.25% 10.50%
48 – 120
Months
9.85% 10.25% 9.45% 9.50% 9.60% 9.85% 9.85% 9.90% 10.00% 10.25%
Swayamsidha Deposit
Tenure Cumulative Non-Cumulative
General
Customer
Privilege
Customer
General
Customer
Privilege
Customer
ROI
(p.a.)
ROI
(p.a.)
Monthly Quarterly Half
Yearly
Yearly Monthly Quarterly Half
Yearly
Yearly
18 Months – Swayamsidha
(Deposit < ` 50 Lacs)
9.80% 10.20% 9.40% 9.45% 9.55% 9.80% 9.80% 9.85% 9.95% 10.20%
18 Months – Swayamsidha
(Deposit ` 50 Lacs and above)
10.05% 10.45% 9.60% 9.70% 9.80% 10.05% 10.00% 10.10% 10.20% 10.45%
Aashray Deposit – Trust
Tenure Cumulative Non-Cumulative
General
Customer
Privilege
Customer
General
Customer
Privilege
Customer
ROI
(p.a.)
ROI
(p.a.)
Monthly Quarterly Half
Yearly
Yearly Monthly Quarterly Half
Yearly
Yearly
13 Months – Trust (Deposit < ` 50 Lacs) 9.75% 10.15% 9.35% 9.40% 9.55% 9.75% 9.75% 9.80% 9.95% 10.15%
13 Months – Trust (Deposit ` 50 Lacs and above) 10.20% 10.60% 9.75% 9.85% 9.95% 10.20% 10.15% 10.25% 10.35% 10.60%
DOUBLE MY MONEY
General Customer
ROI (p.a.)
Tenure Privilege Customer
ROI (p.a.)
Tenure
Deposit Less than 50 lacs 9.75% 88 Months 10.15% 85 Months
Deposit 50 lacs and above 10.00% 86 Months 10.40% 83 Months
* Subject to TDS

** Deposit accepted only under cumulative scheme where the interest will be compounded half yearly.

Small Savings Scheme (Recurring Deposit)
Monthly (Minimum) Deposit ` Period in Months Rate of Interest % (p.a.)
500 12 Months to 120 Months 9.75%

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 0.40 %.
  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 0.40% additional interest for individuals in the categories of Senior Citizens (age above 60 years) / Widows / Armed forces Personnel / Existing DHFL Home Loan Borrowers & DHFL share holders (appropriate proof should be furnish / attached) DHFL also offers 0.25% (0.45% in case of TRUST DEPOSIT – 13 Months) 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.)
    1 After 3 months but before 6 months No interest
    2 Above 6 months but before 12 months 3% less than the minimum rate at which the deposit is accepted.
    3 12 months and above 2% less than the rate applicable to the deposit run period.
  14. 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.
  15. Does DHFL have any specific Fixed Deposit scheme for TRUSTs / NPOs?
    Yes. DHFL offers an exclusively designed Fixed Deposit for Trusts / NPOs. The tenure for this Fixed Deposit is 13 months with an additional rate of interest.
  16. 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.
  17. Does DHFL have any Recurring Deposit (RD) product?
    Yes, DHFL offers recurring deposit scheme for everyone at a very attractive rate of interest.
  18. 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
  19. 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.
  20. 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

 

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