HDFC recurring deposits are an easy option for customers who wish to save regularly. Customers can start with Rs. 1,000 per month and build up their savings for the future. HDFC RD is open for Indian residents at attractive interest rates.
Read on to check the latest HDFC RD rates. Also, you can check the important details about HDFC RD. These include eligibility criteria, application procedure, prime features, and more.
Table of Contents
|
| HDFC Bank RD Rates (% p.a.) | ||
| Tenure | Regular Citizens | Senior Citizens |
| 6 months | 4.50 | 5.00 |
| 9 months | 5.00 | 5.50 |
| 12 months | 5.60 | 6.10 |
| 15 months | 5.60 | 6.10 |
| 24 months | 5.60 | 6.10 |
| 27 months | 5.75 | 6.25 |
| 36 months | 5.75 | 6.25 |
| 39 months | 5.75 | 6.25 |
| 48 months | 5.75 | 6.25 |
| 60 months | 5.75 | 6.25 |
| 120 months | 5.75 | 6.25 |
HDFC RD scheme is available with the following features to help customers make budgetary monthly deposits and earn high interest:
| Particulars | Details |
| Tenure | 6 – 120 months |
| Deposit Amount | Rs. 1,000 – Rs. 1.99 crore per month |
| Rate of Interest | Calculated from the date first instalment is paid on actual or quarterly compounding |
| Rates for Senior Citizens | Extra 0.5% |
| Premature Withdrawal | Available (after 1 month) |
| Features |
|
When in need, customers can opt to withdraw their funds from their recurring deposit before maturity. This is termed as premature withdrawal. To use this facility, the following points must be considered beforehand:
To help customers check and compare the maturity amount at different RD rates, the RD calculator is available at Paisabazaar.com. This makes the comparison very easy.
It calculates the total estimated interest for any specified amount, tenure, and rate of interest in seconds. All you need to do is enter the applicable rate of interest, deposit amount, and tenure.
Click the tab below to calculate the maturity amount using the HDFC RD Calculator.
Who can Apply?
HDFC Bank’s recurring deposit scheme is open for the following persons:
Documents Required
Customers must check the list below before applying for an RD account with HDFC Bank:
Note: Applicants who do not have an account with HDFC Bank must be introduced by an existing HDFC customer.
For those who already have an account with HDFC Bank and are KYC compliant, do not need to furnish further documents.
For offline applications, customers must visit any of the HDFC branches along with the required documents. However, HDFC Bank lets its customers open a recurring deposit using online options, viz. HDFC mobile banking and HDFC internet banking.
What is the highest HDFC RD rate?
Currently, HDFC Bank is giving interest at 5.75% for tenure ranging from 27 to 120 months.
Are partial instalments allowed?
No. Installments are to be made every month in full. Partial deposit of instalments is not allowed.
Can I convert my maturing recurring deposit into a fixed deposit?
Yes. Option to convert recurring deposit into a fixed deposit is given at the time of booking the RD.
What is the tenure for opening an HDFC recurring deposit?
HDFC RD can be opened for a minimum of 6 months while it can go up to 120 months.
Are non-individual Indians residents allowed to open an HDFC recurring deposit?
Yes. HDFC RD is available to companies (private & public) as well as trusts and societies too.
