HDFC Bank Recurring Deposit (RD) Calculator is for calculating the maturity amount of Recurring Deposit saving invested in HDFC Bank for a specified period.
Recurring Deposits are a special kind of Term Deposit offered by HDFC Bank which helps people with regular incomes to deposit a fixed amount every month into their Recurring Deposit account and earn interest at the rate applicable to Fixed Deposits.
This Online RD calculator requires some data like – Your Monthly Deposit Amount, Rate of Interest of your bank, Period (in No. of Months), interest Compounding Frequency. After calculation, you will get the Maturity Amount after the maturity period and Effective yield in %.
Latest HDFC Bank RD Interest Rate:
| Bank Name | Tenors | Rates For Public | Rates for Senior Citizens | As on Date |
|---|---|---|---|---|
| HDFC Bank | 6 Months | 4.50% | 5.00% | 2024-09-09 |
| HDFC Bank | 9 Months | 5.75% | 6.25% | 2024-09-09 |
| HDFC Bank | 12 Months | 6.60% | 7.10% | 2024-09-09 |
| HDFC Bank | 15 Months | 7.10% | 7.60% | 2024-09-09 |
| HDFC Bank | 24 Months | 7.00% | 7.50% | 2024-09-09 |
| HDFC Bank | 27 Months | 7.00% | 7.50% | 2024-09-09 |
| HDFC Bank | 36 Months | 7.00% | 7.50% | 2024-09-09 |
| HDFC Bank | 39 Months | 7.00% | 7.50% | 2024-09-09 |
| HDFC Bank | 48 Months | 7.00% | 7.50% | 2024-09-09 |
| HDFC Bank | 60 Months | 7.00% | 7.50% | 2024-09-09 |
| HDFC Bank | 90 Months | 7.00% | 7.50% | 2024-09-09 |
| HDFC Bank | 120 Months | 7.00% | 7.50% | 2024-09-09 |
HDFC RD Calculator Variables:
This recurring deposit (RD) calculator for HDFC Bank RD uses five different investment variables that most of the calculator requires. These saving calculator variables are:
Monthly Deposit Amount: This is a fixed monthly amount that is invested in an RD scheme. This deposit amount varies from person to person and scheme to scheme.
Rate of Interest: The Rate of Interest is the variable of the RD calculator that appears as a percentage and is different for different types of saving options.
Period of Investment: The length of the investment or period for the investment in months is another factor that plays a major role in the RD calculator. The longer investment increases the compounding of the returns and hence greater rewards are generated.
Maturity Amount: The desired or required amount that an investor wants at the end of the investment life cycle is known as the final amount or maturity amount.
Effective yield: The effective yield is that variable of the RD calculator that appears as a percentage and is used to compare the effectiveness of different types of saving options. This saving variable matters the most to the investors.
How HDFC RD Calculator Works?
Anyone can calculate his saving returns from the HDFC Bank account through an online RD calculator available on this page with high accuracy.
Following are the steps to calculate the RD returns through this calculator:
- Step 1: Enter the fixed monthly amount that he wants to deposit every month.
- Step 2: After this, fill the rate of interest that he gets from his bank or financial institution for the specified period. Different banks or financial institutions offer different rates of interest-based on the amount of investment and period of investment.
- Step 3: The next step that one has to follow is to select the period for saving in months. It depends on saving option requirement for which he wants to stay invested.
- Step 4: Thereafter choose the frequency of compounding. The frequency of compounding may be monthly, quarterly, half-yearly, or yearly.
- Step 5: After submitting all variables required by an RD calculator, one will get the final maturity amount for investment query with effective yield.
HDFC Bank Recurring Deposit (RD)
An HDFC Bank Recurring Deposit (RD) account offers a monthly investment option with a handsome return at the end of specified years with an option to extend the accounting period. It gives you a higher rate of interest than a savings bank account.
Recurring Deposits are a special kind of Term Deposits offered by banks in India which help people with regular incomes to deposit a fixed amount every month into their Recurring Deposit account and earn interest at the rate applicable to Fixed Deposits.
It is similar to making FDs of a certain amount in monthly installments. Thus, Recurring Deposit schemes allow customers with an opportunity to build up their savings through regular monthly deposits of fixed sum over a fixed period of time.
Click Here for HDFC Bank Saving Account Calculator
Click Here for HDFC FD Calculator
Features of HDFC Bank RD Schemes:
- An investment as small as Rs. 1000 (and in multiples of Rs. 100 thereafter) or as large as Rs. 1,99,99,900 per month
- Minimum tenure of 6 months (and in multiples of 3 months thereafter) up to a maximum tenure of 10 years. For NRI customers, the minimum tenure of RD is 12 months.
- For a much smaller investment per month, get interest rates equal to that of regular Fixed Deposits.
- The Recurring Deposit account has a minimum lock-in period of one month.
- In the case of premature closure within a month, no interest shall be paid to the depositor and only his principal amount shall be returned.
- TDS on RD accounts (if applicable) will be recovered on RD interest if Savings/Current accounts linked to RD are not maintained, effective 4th Feb’2018
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Latest HDFC Bank RD Interest Rate: Click Here
Eligibility for HDFC Recurring Deposit (RD):
You are eligible for the Sweep-In facility if you are one of the following:
- Resident individuals
- Hindu Undivided Families
- Private & Public Limited Companies
- Trust & Societies
You are here to calculate the maturity value of your money in HDFC Bank’s Recurring Deposit (RD) account. Calculate the maturity value with this online HDFC RD calculator.
(Calculate your HDFC Bank Recurring Deposit (RD) maturity amount by using this HDFC RD Calculator)
