HDFC Fixed Deposit facility comes with competitive rates and gives you guaranteed returns on your investment. With a higher degree of security, you can be assured that your money is in safe hands. All you need to do is link your HDFC Savings Account with the FD account. This facility also allows you to transfer funds from your savings account to FD and vice versa in a quick and hassle-free manner. Other benefits include the Super Saver facility that lets you withdraw funds as overdraft without breaking your FD in case of short-term financial requirements.
You can open the account by depositing an amount as low as Rs.5,000. You also have the option to reinvest where you can enjoy compound interest on your investment. The scheme also gives you the flexibility to change the tenure and payment instructions as per your convenience.
You can calculate the returns on your investment by using an HDFC FD calculator. The entire process of calculating the amount is easy and hassle-free. All you need to do is enter the deposit term, choose the type of FD (reinvestment, quarterly, or monthly payment), the investment amount, the date of account opening, and the FD interest rate.Here's an example. Suppose you have put Rs.80,000 in your HDFC FD account for a period of 5 years. Here's a complete breakdown of how much you will earn on your investment throughout the tenure
|Tenure bracket||FD rates||Maturity amount for Rs.80,000(Rs.)|
|7 to 14 days||2.50%||80,107|
|15 to 29 days||2.50%||80,270|
|30 to 45 days||3.00%||80,567|
|46 days to 6 months||3.50%||82,466|
|6 months 1 day to 9 months||4.40%||84,152|
|9 months 1 day to less than 1 year||4.40%||84,387|
|1 year to 2 years||5.10%||92,453|
|2 years 1 day to 3 years||5.15%||99,684|
|3 years 1 day to 5 years||5.30%||114,596|
So, you can see that you the total maturity amount at the end of the tenure is Rs.114,596, which is Rs.34,596 more than the initial investment amount. If you are looking for a safer investment option that will give you better returns, you can go for HDFC Regular Fixed Deposit.
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