1. What is HDFC FD OD Facility?

The HDFC Fixed Deposit Overdraft (FD OD) facility allows you to avail an overdraft against your fixed deposit. You can get up to 90% of your FD value as an overdraft limit while your FD continues to earn interest.

2. How Does the Calculator Work?

The calculator uses the simple formula:

Where:

• \( FD\ Amount \) — Your fixed deposit amount in INR
• \( 0.9 \) — 90% of FD amount as OD limit

Explanation: HDFC Bank typically offers up to 90% of your FD value as an overdraft facility, allowing you to access funds without breaking your fixed deposit.

3. Benefits of FD OD Facility

Details: The FD OD facility provides liquidity while your FD continues to earn interest. It's a cost-effective way to meet short-term fund requirements without prepayment penalties.

4. Using the Calculator

Tips: Enter your fixed deposit amount in INR. The calculator will show you the maximum OD limit you can avail against your FD. The actual limit may vary based on bank policies.

5. Frequently Asked Questions (FAQ)

Q1: What is the interest rate on FD OD?
A: The interest rate on OD is typically 1-2% above the FD rate, making it cheaper than personal loans.

Q2: Can I avail OD against joint FD?
A: Yes, OD can be availed against joint FDs with consent of all account holders.

Q3: Is there any processing fee for FD OD?
A: Banks may charge a nominal processing fee for setting up the OD facility.

Q4: How quickly can I get OD against FD?
A: OD against FD is usually processed quickly, often within 24-48 hours of application.

Q5: Can I prepay the OD amount?
A: Yes, you can prepay the OD amount without any prepayment penalties.