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HDFC Bank Unveils ‘Embassy Fixed Deposit Scheme’.

Banking & Finance | Dated: 27 Mar 2025

In March 2025, Mumbai (Maharashtra)-based HDFC Bank Limited launched the ‘Embassy Fixed Deposit (FD) Scheme’, also known as the Diplomat FD Scheme, specifically designed for diplomatic staff and embassy personnel in India.

🎯 Key Highlights:

  • - This USD-denominated FD allows embassy employees, non-diplomatic staff, and diplomats to invest in foreign currency.
  • - The scheme offers deposit tenures of 1 month, 3 months, 6 months, or 1 year. Unlike regular FDs, it does not allow automatic renewal; upon maturity, funds are credited to the investor’s foreign currency account. To reinvest, customers must submit a fresh application.
  • - The minimum deposit amount is $5,000, with additional investments in multiples of $1,000. The bank has not specified a maximum deposit limit.

💡 Other Important Facts:

  • (i) Interest rates are tenure-based and are revised monthly on the 1st of every month.
  • (ii) Premature withdrawals are permitted, but a penalty fee applies. Investors cannot modify the FD tenure after making the investment.

📚 Test Your Knowledge:

Recently, which Indian bank launched the ‘Embassy Fixed Deposit Scheme’ for diplomatic staff and embassy personnel?

Correct Answer: HDFC Bank

🚀 Quick Recap:

About HDFC Bank

  • CEO: Sashidhar Jagdishan
  • Headquarter : Mumbai