1. What is HDFC OD Against FD?

HDFC Bank offers Overdraft (OD) facility against Fixed Deposits (FD) where customers can avail up to 90% of their FD amount as an overdraft. This provides liquidity while keeping the FD intact and earning interest.

2. How Does the Calculator Work?

The calculator uses the simple formula:

Where:

• \( FD Amount \) — The total amount in the Fixed Deposit (INR)
• \( 90\% \) — The maximum percentage available as overdraft

Explanation: HDFC Bank typically allows up to 90% of the FD value to be utilized as an overdraft facility.

3. Importance of OD Calculation

Details: Calculating the available overdraft amount helps in financial planning and ensures you understand how much credit you can access against your fixed deposit without breaking it.

4. Using the Calculator

Tips: Enter your Fixed Deposit amount in INR. The calculator will show you the maximum overdraft amount available (90% of FD value).

5. Frequently Asked Questions (FAQ)

Q1: What is the interest rate on HDFC OD against FD?
A: The interest rate is typically 1-2% above the FD rate, making it a cost-effective borrowing option.

Q2: Can I get 100% overdraft against my FD?
A: No, HDFC Bank typically allows a maximum of 90% of the FD value as overdraft facility.

Q3: Is there any processing fee for OD against FD?
A: HDFC may charge a nominal processing fee, which varies based on the OD amount and other factors.

Q4: Can I prepay the OD amount?
A: Yes, you can prepay the OD amount at any time without any prepayment penalties.

Q5: What happens if I don't repay the OD?
A: The bank can liquidate your fixed deposit to recover the outstanding OD amount and interest.