HDFC Bank Recurring Deposit Interest Rates Guide

HDFC Bank offers a range of recurring deposit interest rates to suit different needs and goals.

For a general public, HDFC Bank's recurring deposit interest rates range from 5.50% to 6.50% per annum, depending on the tenure.

Recurring deposits are a great way to save money, and HDFC Bank's rates are competitive in the market.

The interest rates are subject to change, so it's essential to check the latest rates before investing.

HDFC Bank's recurring deposits allow you to deposit a fixed amount regularly, which can be a great way to build a savings habit.

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HDFC Bank offers a range of interest rates for their recurring deposit accounts. The highest interest rate for resident Indians and senior citizens is 7.50% p.a. for tenures ranging from 39 months to 60 months.

For short-term RD accounts, the interest rates vary depending on the tenure. For the 6 months tenure, the interest rate for general public is 4.50% p.a. and for senior citizens it is 5.00% p.a.

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Medium-term and long-term RD accounts have interest rates ranging from 6.60% p.a. to 7.10% p.a. for regular citizens, and 7.10% p.a. to 7.60% p.a. for senior citizens.

Here's a breakdown of the interest rates for different tenures:

Senior citizens are eligible for higher interest rates, and TDS will be deducted when interest payable or reinvested on RD and FD exceeds Rs.40,000/- (Rs. 50,000/- for senior citizens) in a financial year.

You can use the HDFC Bank RD Interest Rate Calculator to find out the maturity amount and total interest you'll earn on your savings. The calculator helps you plan your investment better by showing you the impact of different tenure and deposit amounts on your final maturity value.

To open an HDFC Bank RD account, you can either contact the nearest branch or customer service if you already have an account with the bank, or visit the nearest branch and submit an application form along with the required KYC documents if you don't.

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The minimum amount you can deposit each month is ₹500, and you can select a tenure between 6 months to 10 years. You can adjust the tenure and monthly deposit amount to see how it impacts the final maturity value.

Here are the steps to open an HDFC Bank RD account:

You can also use the formula A = P*(1+R/N)^(Nt) to calculate the maturity amount on HDFC Bank RD, where R stands for the rate of interest, P is the principal deposited, n is the tenure in months, and t is the applicable tenure.

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The HDFC Bank RD interest rate calculator is a useful tool to help you plan your investment better. You can use it to learn about interest rates and calculate the maturity sum for your savings.

The calculator will automatically compute the total interest you will earn over the tenure and the final maturity amount you will receive at the end of the RD term. This is based on the invested amount, which can be as low as ₹500, and the tenure, which can range from 6 months to 10 years.

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You can adjust the tenure and monthly deposit amount to see how it impacts the final maturity value. This allows you to find the best RD plan that suits your investment goals and savings capacity.

The formula to calculate the maturity amount is A = P*(1+R/N)^(Nt), where R stands for rate of interest, P is the principal deposited, n is the tenure in months, and t is the applicable tenure.

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To open a recurring deposit account, you'll need to follow these steps. You can start by visiting the nearest HDFC Bank branch or contacting their customer service if you already have an account with the bank.

You can choose to open an account by visiting the branch directly or via Net Banking. If you're an existing HDFC account holder, you can log in to your account and open an e-RD within a couple of minutes.

To open an account, you'll need to submit an application form along with the required KYC documents if you don't have an existing account with the bank. The required documents include Know Your Customer (KYC) documents.

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You can also set up the monthly payments for the Recurring Deposit, either through online methods like ECS, online banking, or fund transfer or by setting up a standing order with the bank to deduct the amount automatically each month.

Here's a summary of the steps to open a recurring deposit account:

By following these steps, you can open a recurring deposit account and start saving for your future goals.

You can open an HDFC Recurring Deposit account with a minimum monthly investment of Rs. 1000, which can be extended up to Rs. 14,99,900.

The minimum tenure for an HDFC Recurring Deposit is 6 months for Indian citizens, while NRIs need to open an account for at least 12 months or 1 year.

You can choose a fixed monthly installment amount, which cannot be changed during the course of maturity.

If you're unable to make consecutive payments for 6 months, HDFC reserves the right to cancel your account.

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You can, however, convert your HDFC Recurring Deposit into a Fixed Deposit before maturity.

Here are the key account and scheme options for HDFC Recurring Deposit:

To open an HDFC Recurring Deposit account, you need a minimum amount of just Rs.1000.

The bank offers a nomination facility, allowing you to nominate someone to redeem the maturity amount in case of your demise.

The RD interest rates offered by HDFC are the same as fixed deposit rates, making it a great option for those looking for a stable return on investment.

There's a lock-in period of 1 month from the date of account opening, during which you cannot withdraw the deposit money.

You can open an HDFC Recurring Deposit account with a minimum monthly investment amount of Rs. 1000, which can be extended up to Rs. 14,99,900.

The minimum tenure for an HDFC Recurring Deposit account is 6 months for Indian citizens and 12 months for NRIs.

You can also convert your HDFC RD into a Fixed Deposit before maturity.

Here are the interest rates for HDFC NRE RD Scheme for NRIs:

To open an HDFC Bank RD account, you must meet certain eligibility criteria.

You can be a resident individual, which means you're a citizen of the country and can provide required documents.

Hindu Undivided Families are also eligible to open an HDFC Bank RD account.

Private and Public Limited Companies, as well as Trust and Societies, can also open an HDFC Bank RD account.

Here are the eligible categories in a list format: