HDFC Bank’s Health Cover Fixed Deposit: Many benefits! FD rates up to 7.75%, Rs 1000 per day hospital cash cover – Details here

Share

Tweet

Share

Share

Email

Comments

Among the many benefits that the HDFC Bank HealthCover FD offers, the scheme gives instant access to an overdraft of up to 90% of the fixed deposit amount.

Leading private sector lender HDFC Bank offers a unique investment product with a dual benefit of a fixed deposit and the safety of hospital cash cover.

On booking a HealthCover FD, customers will receive cash cover during hospitalisation in the first year.

Read More: Small Savings Schemes: Investing in PPF, SSY, SSCS? Can you invest without Aadhaar Card? EXPLAINED

Here are the benefits and features of the HDFC Bank HealthCover FD:

1. The Healthcover FD gives instant access to an overdraft of up to 90% of the fixed deposit amount.
2. The FD scheme increases income with compound interest on reinvestment deposits
3. An FD holder can choose from options of monthly or quarterly interest payouts.
4. HealthCover FD gives Rs 500 per day for 15 days to cover hospital cash expenses on a fixed deposit with a balance of Rs 5 lakh to Rs 10 lakh.
5. On FD amounts less than or equal to Rs 10 lakh to Rs 1.99 crore, the scheme fetches a benefit of a hospital cash cover of Rs 1000 per day for 15 days.

Read More: Banks revise FD interest rates in April: IDBI, Federal Bank and more – these 5 banks have changed fixed deposit rates

HDFC Bank HealthCover FD Interest rates:

The bank is offering interest rates up to 7.75% on HealthCover FD. The rates are applicable on below Rs 2 crore fixed deposits. Here is a table showing rates across tenures for both general public and senior citizens.

Source: Bankbazaar.com

HDFC Bank HealthCover FD eligibility criteria:

If you’re aged between 18 and 59 years, you can apply for an HDFC Bank HealthCover fixed deposit. The FD terms range from 1 to 10 years. Your fixed deposit must fall within the range of Rs 5 lakh to Rs 1.99 crore to meet the eligibility criteria.

Read More: Bank FD Rates: From SBI, PNB To HDFC & ICICI Bank; Check Latest Fixed Deposit Rates

How to book the HDFC Bank HealthCover FD online?

Step 1: Go to HDFC Bank https://www.hdfcbank.com/

Step 2: Log in via NET Banking; once logged in, click on ‘Accounts’.

Step 3: Select the ‘Transact’ option.

Step 4: Now, various options will appear; Choose the ‘Fixed Deposit’ option.

Step 5: Select the below Rs 2 crore option.

Step 6: From drop-down menu, select ‘HealthCover FD’.

Step 7: Enter the amount you want to deposit and select tenure.

Step 8: Fill in all the details correctly.

Step 9: You also have the option to check the maturity amount and current interest rates applicable to your deposit.

Step 10: A confirmation will be sent via SMS and email once the FD is booked.