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. HDFC RD interest rates are quite competitive and are higher than the rates on their savings 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.
RD Interest Rate of HDFC Bank:
RD interest rates of HDFC Bank are determined by changes in RBI monetary policy such as repo rate, base rate, etc, the internal liquidity position of banks, economic conditions, and the level of credit demand.
What is the current HDFC RD Interest Rate?
Current RD interest rates in HDFC Bank are tabulated below. Here RD rates range is given for different deposit tenure from 6 months – 10 years:
Revision in Interest Rates On Retail Domestic Recurring deposits interest rates revised: (All figures in % per annum)
| Bank Name | Tenors | Rates For Public | Rates for Senior Citizens | As on Date |
|---|---|---|---|---|
| HDFC Bank | 6 Months | 3.5 | 4 | 2021-11-25 |
| HDFC Bank | 9 Months | 4.4 | 4.9 | 2021-11-25 |
| HDFC Bank | 12 Months | 4.9 | 5.4 | 2021-11-25 |
| HDFC Bank | 15 Months | 4.9 | 5.4 | 2021-11-25 |
| HDFC Bank | 24 Months | 4.9 | 5.4 | 2021-11-25 |
| HDFC Bank | 27 Months | 5.15 | 5.65 | 2021-11-25 |
| HDFC Bank | 36 Months | 5.15 | 5.65 | 2021-11-25 |
| HDFC Bank | 39 Months | 5.3 | 5.8 | 2021-11-25 |
| HDFC Bank | 48 Months | 5.3 | 5.8 | 2021-11-25 |
| HDFC Bank | 60 Months | 5.3 | 5.8 | 2021-11-25 |
| HDFC Bank | 90 Months | 5.5 | 6 | 2021-11-25 |
| HDFC Bank | 120 Months | 5.5 | 6 | 2021-11-25 |
Only Resident Senior Citizens are eligible for higher rates of interest.
The proposed rates of interest shall be made applicable to fresh deposits and renewals of maturing deposits.
How is the HDFC RD rate of interest calculated?
RD interest rates of HDFC are determined by changes in RBI monetary policy such as repo rate, base rate, etc, the internal liquidity position of banks, economic conditions, and the level of credit demand.
The interest you earn on your deposited amount in RD depends on a lot of factors such as the invested amount, tenure for the deposit, rate of interest, and compounding frequency.
One of the best ways to calculate the interest earned on your HDFC bak RD is by using the HDFC RD calculator available over the internet. It is the most hassle-free way of calculating interest.
You may Calculate the HDFC RD Interest rate by using: HDFC RD Calculator
This RD Calculator for HDFC 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 %.
You may check the updated HDFC Interest rate on RD at HDFC official website here.
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Information about HDFC RD Interest Rates:
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Table of Contents |
What is an HDFC Bank RD Account?
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.
HDFC RD interest rates are quite competitive and are higher than the rates on their savings deposits.
HDFC RD Features:
- 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
Terms and Conditions of HDFC RD:
- The value date of your RD will be the date that the RD account is debited, depending on the date of processing of your form and all the subsequent installments will be debited on the same date every month
- Please ensure that you maintain sufficient funds in your account till the account is debited by us for your first installment. In case of a shortage of funds, your Recurring Deposit account will not be booked
- The interest rate applicable on the RD will be the prevailing rate as on the date the RD account is opened in our system
- Your Recurring Deposit account will be opened in the same name as your debit account
- Once your Recurring Deposit account is opened, you will be able to view the RD account details on HDFC Bank’s NetBanking under ‘Recurring Deposit Summary’
Eligibility for HDFC Recurring Deposit (RD):
You are eligible if you are one of the following:
- Resident individuals
- Hindu Undivided Families
- Private & Public Limited Companies
- Trust & Societies
How to check HDFC RD maturity value?
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.
The maturity amount of Recurring Deposit (RD) invested in HDFC bank for a specified period can be calculated by using the HDFC RD calculator available over the internet.
The HDFC RD Calculator for HDFC Bank RD available here 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 %.
FAQs about HDFC RD rate of interest:
What is the Tenure Range for HDFC RD Account?
The tenure for HDFC RD ranges from 06 months to 10 years.
Is there any minimum amount required to open an HDFC RD account?
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.
How to open an RD account in HDFC Bank?
If you are an existing customer of HDFC and have active internet banking, you can just log in to your account and open one RD account. New customers can either visit the nearest HDFC branch or apply on HDFC’s website and get an RD account opened.
Can I deposit an additional amount into my already existing RD?
Yes. Only in the case of the Flexi RD Scheme in HDFC.
You are here to calculate the HDFC RD interest rate on your money in HDFC’s Recurring Deposit (RD) account. Explore the current HDFC RD interest rate here.
