1. Hdfc Fixed Deposit Interest Rate
2. Hdfc Recurring Deposit Interest Rates 2019
3. Hdfc Recurring Deposit Interest Rates 2019
4. Hdfc Recurring Deposit Rates 2021

Interest Rates - Fixed & Recurring Deposits, Savings Account, Forex HDFC bank offers attractive interest rates on various deposit and savings schemes. Click on the header to view the rates Fixed Deposit Interest rate Less Than 5 Cr. With HDFC Bank's Recurring Deposit, you can: An investment as small as Rs. 1000 (and in multiples of Rs. 100 there after) or as large as Rs. 1,99,99,900 per month A 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. In a Recurring Deposit, you have to invest a fixed amount every month. You receive the interest along with the capital at maturity. They come with a term of 1 to 10 years. Investment amount: The amount varies from bank to bank. Interset on Recurring Deopsits will be paid out on maturity. In case of delay in payment of any installment, the Depositor/s shall be liable to pay penal interest at the rate of Recurring Deposit interest + 2% p.a or such other rate as may be specified by HDFC Bank from time to time for the period of delay. As regards deposit taking activity of the company, the viewers may refer to the advertisement in the newspaper/information furnished in the application form for soliciting public deposits. The company is having a valid Certificate of Registration dated issued by the National Housing Bank under Section 29A of the National Housing Bank.

RD Calculator

Recurring Deposit scheme is offered by almost all banks (RD schemes of SBI, PNB, ICICI Bank, HDFC Bank, IDBI Bank, Bank of India, Bank of Baroda, Corporation Bank ) in one form or the other. Recurring Deposit is very popular among the salaried class, specially who can afford to save only few hindered or say few thousand rupees per month. This scheme is a boon for people who do not have a large amount of savings and thus can not use the Fixed Deposit scheme of the banks. Under this scheme, the customer deposits a minimum amount (normally fixed) every month, and bank pays the interest at the pre-determined rates (which is usually the same as applicable to fixed deposits ). At the end of the period i.e. on maturity date, the customer is paid the maturity value i.e. principle deposited and the interest payable.

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Hdfc Fixed Deposit Interest Rate

The above is a RD Interest Calculator which calculates the maturity value (i.e. principal amount + interest earned ) of the deposits made under recurring deposit schemes of banks in India. The above calculator does not account for TDS as different banks will be using different periods for deduction of the TDS (see below that TDS has become applicable now on RD accounts).

Until May 2015, banks were not required to deduct TDS on the interest earned on RD accounts. However, wef 1st June, 2015, Tax Deduction at Source (TDS) is applicable on interest paid / accrued on RD accounts. In case the deposit holder does not want the Tax to be deducted at source, they are required to submit Form 15G / 15H (other than company, firm or co-operative society)/ Exemption Certificate under Section 197 (in case of all holders)/ or any other Tax Exemption Certificate with the Bank. Such form or tax exemption certificate has to be submitted every financial year for each recurring deposit held with the Bank. Thus, now the TDS rules for RD are similar to FD rules for TDS.

How Recurring Deposit Interest is calculated ? / Formula for RD Interest calculations :

Formula used by Banks in India / Recurring Deposit Calculations / RD Calculations / Recurring Deposit Calculation Formula / RD Formula used by Indian Banks : The following formula is used by Banks in India for calculation of maturity value of the Recurring Deposit wherein the compounding is done on a quarterly basis:

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In EXCEL ( .xls file ) the Future Value (FV) is used for this purpose. However, it has been noticed that it does not exactly match with the values as per the bank maturity value charts of banks in India.

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