This HDFC Saving Account Calculator is an online personal financial tool to calculate the total maturity amount and the total effective yield in the HDFC saving account based on the selection of monthly, quarterly, semi-annually, and annually compound frequencies, interest rates, and total time period of the deposited money in the Bank.
(Calculate your HDFC saving maturity amount by using this Saving Calculator)
HDFC Saving Calculator Variables:
This saving calculator 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 a saving 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 saving calculator that appears as a percentage and is different for different types of saving options. HDFC bank offers 3.25% p.a. for below 50 lakh (w.e.f. 15.04.2020) rate of interest on saving account.
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 saving 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 saving 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 Saving Calculator Works?
Anyone can calculate his saving returns from the HDFC account through an online saving calculator available on this page with high accuracy.
Following are the steps to calculate the saving 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 saving a calculator, one will get the final maturity amount for investment query with effective yield.
Interest Rates of HDFC Saving Account:
Domestic, NRO and NRE Savings Rate: Effective 15th April 2020, Rate of Interest for Savings Bank deposits Accounts has been revised as below :
|
Savings Bank balance |
Revised Rate w.e.f 15th April, 2020 |
|---|---|
|
Rs. 500 Crore and above |
RBI Repo rate + 2 basis points |
|
Rs. 50 lakh and above but less than Rs. 500 Crore |
3.75% |
| Below Rs 50 lakh | 3.25% |
Features of HDFC saving account:
Enjoy Special Discounts & Offers:
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Other Added Benefits:
- Get a Safe Deposit Lockers
- Save more with Super Saver Facilities on your account
Easy Banking with Your Debit Card:
- Never overspend – Get Millennia Debit Card (metro/urban locations) or a Rupay Premium Debit Card (semi-urban & rural locations) with your Regular Savings Account.
- Enjoy a host of benefits and features on your Debit Card
- Offers on your Millennia Debit card
- Offers on your Rupay Platinum Debit Card
Cross-Product Benefits:
- Annual Maintenance Charge (AMC) waived off for the first year for your first Demat Account
Transact with Ease:
- Wide network of branches and over 12,259 ATMs ensure all your banking needs are met, no matter where you are
- HDFC NetBanking, PhoneBanking and MobileBanking facilities allow you to check your account balance, pay utility bills, stop cheque payments and more from wherever you are
- BillPay allows you to pay your utility bills with ease. You can set instructions for payments over the phone or online
- Make use of our free passbook and email statement facilities
The following people are eligible to open a Regular Savings Account:
- Resident Individuals (sole or joint account)
- Hindu Undivided Families
- Foreign Nationals Residing in India*
- Minor above the age of 10 years are eligible to open self operated minor account and an ATM/Debit card can be issued to the Minor
*Foreign Nationals should be residing in India for a period greater than 180 days and must possess: A valid passport, a valid visa, FRRO (Foreign Region Registration Office) Certificate, and a Residential Permit.
Minimum Balance Requirements:
- To open a Savings Regular Account, a minimum initial deposit of Rs. 10,000 is required for urban branches, Rs. 5,000/- for Semi-urban branches and Rs. 2,500 for rural branches
- It is mandatory to maintain a minimum average monthly balance of Rs. 10,000 for urban branches, Rs.5000 for semi-urban branches, and an average quarterly balance of Rs. 2500 or a Fixed Deposit of Rs.10,000 for a minimum tenure of 1 year 1 day for rural branches
You are here to calculate the maturity value of your money in HDFC saving account. Calculate the maturity value with this online HDFC saving account calculator.
