Embassy Fixed Deposit

Current Context: HDFC Bank launched the Embassy Fixed Deposit, a USD-based foreign currency deposit scheme for diplomats, non-diplomatic staff, and diplomatic missions.

Key Facts

• Minimum Deposit: USD 5,000; increments of USD 1,000.
• Tenures: 1, 3, 6 months, and 1 year.
• No automatic renewal; reinvestment requires a new request.

Interest and Withdrawal

• Monthly updated interest rates.
• Premature Withdrawal: Penalty of 0.5% on actual duration; no interest if effective rate is negative.
• Significance: Tailored for diplomats with secure and flexible investment options.