Are you working towards a financial goal, be it short-term or long-term? Imagine having the flexibility to decide when
and how much you invest to achieve that goal. Look no further than the HDFC Passion Fund, a fantastic investment option that caters to your specific needs. Let’s explore its key features and how you can get started.
HDFC Bank Passion Fund
The HDFC Bank Passion Fund is a versatile recurring deposit fund designed to help you reach your financial objectives more quickly.
With this fund, you can invest according to your preferences, both in terms of the amount and the monthly deposit.
All you need to do is set your desired time frame, name your fund, specify your target, and start saving.
Initiating your Passion Fund is as simple as logging into HDFC Bank’s net banking platform, navigating to the ‘Transact’ section, and selecting the ‘Passion Fund’ option.
Features of HDFC Passion Fund
Here are the standout features of the HDFC Passion Fund:
Personalized Naming: You can name your deposit to align with your savings goal.
Flexible Deposits: You can deposit money up to three times a month, depending on your financial capacity.
Varied Deposit Amounts: Your monthly top-up can range from a minimum of Rs. 1000 to double the previous month’s installment.
Interest Rates: Enjoy competitive interest rates in line with current deposit rates, with a minimum interest earning period of one month. The lock-in period is also just one month.
Online Convenience: Manage your fund entirely online, without any charges for failed Standing Instructions (SI).
You can deposit your installment online if there are sufficient funds in your account after the SI date.
Affordable Start: Begin your investment journey with as little as Rs. 1000, and then in multiples of Rs. 100. You can contribute up to Rs. 14,99,900 per month.
Flexible Tenure: Choose a tenure of at least six months, with subsequent increments in multiples of three months, up to a maximum of ten years.
Top-Up Option: Add more funds to your account at any time, with interest calculated from the date of payment.
No Penalty for Early Withdrawal: You can withdraw your funds before maturity without incurring any penalties.
Investing towards your financial dreams has never been this convenient. The HDFC Passion Fund empowers you to save your way, bringing you closer to your goals with every deposit.