HDFC has instituted well-defined service standards for both depositors and deposit agents. HDFC has been able to mobilise deposits from over 10 lac depositors. Outstanding deposits grew from Rs. 1,458 crores in March 1994 to 19,359 crores in March 2009. Much of this success can be attributed to its strong brand image, superior services, security and above all, the significant contribution made by HDFC's deposit agents. HDFC has over 15,000 deposit agents and distributes all its retail savings (deposit) products primarily through this channel

WHAT IS RATING?

'FAAA' and 'MAAA' rating affirmed for the Fourteenth consecutive year by CRISIL and ICRA respectively

WHAT ARE THE SCHEMES AVAILABLE?

This company offers deposits of duration ranging from 12 months to 36 months and the interest rate ranges from 6.0% to 6.45% p.a.

HOW TO INVEST?

To open the account, one needs to submit the following

1. Deposit application form, along with KYC documents
2. Account Payee cheque for the initial monthly savings amount drawn in favour of HDFC Ltd.
3. ECS (debit clearing) Mandate for the subsequent deposit installments.

HOW IS FIXED DEPOSIT RECEIPT MAILED?

1. Fixed Deposit Receipts shall be mailed by courier or Registered/Speed Post within 6 weeks of the date of realization of the Cheque, at the address of the first applicant given in the Application Form. The Company shall not be responsible for any loss or delay in transit.
2. In case of loss or destruction or mutilation of the Deposit Receipt, the Company may at its sole discretion issue a duplicate receipt subject to compliance with its terms and conditions including an indemnity duly signed by all the joint depositors. All expenses in this connection will be borne by the depositor(s).
3. Fixed Deposit Receipts will not be transferable. The Company may however, at its discretion permit the addition of one name to the Deposit Receipt under certain circumstances and subject to such terms and conditions as it may deem fit. The Company will not accept or recognize any lien on or assignment of the Fixed Deposit Receipt for a loan taken from or by arrangement with the Company.

HOW IS THE PAYMENT OF INTEREST MADE?

Accumulation of interest: Interest will be accrued and credited (net of TDS) on 31st March every year.

WHAT IS THE RENEWAL/REPAYMENT OF DEPOSITS PROCEDURE?

For renewal or repayment of deposit, the duly discharged deposit receipt must be surrendered to HDFC 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 crediting the amount directly to first depositor's bank account through NEFT.

WHAT IS THE PREMATURE WITHDRAWAL PROCEDURE?

Request for premature withdrawal may be permitted at the sole discretion of the corporation only and cannot be claimed as a matter of right by the depositor, subject to the Housing Finance Companies (NHB) Directions, 2010 as applicable from time to time.

Premature withdrawal will not be allowed before completion of 3 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.

The brokerage is paid upfront for the entire period of deposit to our authorised agent. In case of premature withdrawal the brokerage is payable for the period completed and excess brokerage paid will be recovered from the deposit amount.

Head Office
HDFC LTD
H T Parekh Marg, Churchgate
MUMBAI - 400 020.