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  • HDFC Recurring Deposit Interest Rates - May 2017

    HDFC RECURRING DEPOSIT
     4.5 / 5.0   by 324 users
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    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    PeriodInterest Rate (per annum) %Senior Citizen Rates (per annum) %Interest Rates p.a. for NRIs %
    6 Months5.756.25N.A.
    9 Months66.5N.A.
    12 Months6.97.46.9
    15 Months6.256.756.25
    24 Months6.256.756.25
    27 Months66.56
    36 Months66.56
    39 Months66.56
    48 Months66.56
    60 Months66.56
    90 Months66.56
    120 Months66.56

    Get the Highest Interest Rates on HDFC Bank Recurring Deposit

    HDFC Bank offers its customers a very good investment opportunity through its recurring deposit scheme. Opting for this scheme enables people to earn interest rates which are equal to that of Fixed Deposits by investing a small amount every month in their recurring deposit account. People can invest a minimum of Rs.100 and maximum 14, 99,900 monthly for a period of 6 months (after 6 months in multiples of 3 months) to maximum 10 years.

    HDFC Bank Short-Term RD Interest Rates

    HDFC Bank provides its depositors the option of opening a recurring deposit account for a short term period. Here, people can deposit money into their account for a period between 6 months and 9 months,the interest rate is 5.75% and 6.00%. For the period of more than 1 years to 2 years, the earning interest rate is 6.25%.

    HDFC Bank Medium and Long Term RD Interest Rates

    Depositors can also open a medium and long term recurring deposit account with HDFC bank and earn attractive rates of interest. The medium term deposit can be made for a period that exceeds 2 years 3 months and up to 5 years while the long term deposit can be made for a period of more than 5 years and up to 10 years.

    For medium term deposits, the rate of interest offered by HDFC Bank is 6.00% per annum and for long term deposits, the rate of interest is 6.00% per annum.

    HDFC Bank Senior Citizen RD Interest Rates

    HDFC Bank provides higher rates of interest on recurring deposits to senior citizens. For a recurring deposit within a short term period, senior citizens can earn an interest rate ranging from 7.40 percent to 6.75 percent per annum. For medium term period, the interest rate is 6.50% per annum and for a long term period, the interest rate 6.00% per annum.

    HDFC Bank NRI Recurring Deposit Interest Rates

    Non- Residential Indians or NRIs can also open a recurring deposit account with HDFC Bank. If they invest money for a short- term period, the interest rate earned by them ranges from 0 percent to 6.90 percent per annum. If they opt for a medium- term period, the interest rate earned by them is 6.25 percent per annum and if the investment is made for a long- term period the interest rate earned by them is 6.00% per annum.

    How to Open a HDFC Bank Recurring Deposit Account?

    Customers can open HDFC Bank Recurring Deposit accounts using NetBanking. To open a RD account, they have to do the following:

    1. Login onto their NetBanking account.
    2. Choose ‘Open Recurring Deposit’ option from the Recurring Deposit menu that is present on the left hand side.
    3. Select their preferred values from the drop down lists.
    4. Click on ‘Continue’ and confirm the details.

    How to Prematurely Liquidate a RD Account?

    To prematurely liquidate a RD account, you have to submit a written request for the same with your bank branch. The request must be signed by all the account holders. You can also liquidate the account online in the following ways:

    1. Login onto your NetBanking account.
    2. Select ‘Liquidate RD’ from the Recurring Deposit menu. You will find it under the Accounts Tab.
    3. Select your RD account number. Click on ‘Continue’.
    4. Check the details and confirm.
    5. Once you confirm, you will be directed to the confirmation page that will say that your RD has been liquidated.

    How is the Interest Rate Calculated in Case of Premature Withdrawal?

    In case of premature withdrawal, interest rate is the lower of the following:

    1. Base rate for the contracted or original tenure for which the deposit was made.
    2. Base rate that is applicable for the tenure for which the deposit was made.
    3. Base rate is referred to the rate that is applicable to deposits below Rs.1 crore (on the date of commencement of the RD account).
    4. In case a RD account is closed within a month from commencement, then the principal deposit amount will be returned and no interest will be paid to the depositor by the bank.

    HDFC Bank Recurring Deposit FAQs

    1. How does Recurring Deposit (RD) work?

      In Recurring Deposit accounts, people are required to make a deposit every month. This amount of deposit is fixed. This amount along with interest is returned back to the depositors on maturity.

    2. Will senior citizens receive additional benefits, if they open a HDFC Bank Recurring Deposit account?

      Yes, senior citizens will receive an additional interest rate of 0.5%, if they open a HDFC Bank Recurring Deposit account.

    3. Am I allowed to pay more than 1 installment at a time?

      Yes, you are allowed to pay more than 1 installment at a time, but you will not receive any interest on the extra amount. Interest rate will be applicable only on the installment that is due.

    4. Does HDFC Bank Recurring Deposit scheme allow premature withdrawals?

      Yes, HDFC Bank Recurring Deposit scheme allows premature withdrawal.

    5. Does HDFC Bank Recurring Deposit have a quarterly or monthly interest pay-out option?

      The interest on HDFC Bank Recurring Deposit is paid out on maturity and on closure of the account.

    6. Does HDFC Bank Recurring Deposit have nomination facility?

      Yes, HDFC Bank Recurring Deposit has nomination facility.

    7. What is the maximum amount that I can deposit in a HDFC Bank Recurring Deposit Account?

      The maximum amount that you can deposit in a HDFC Bank Recurring Deposit Account is Rs.14,99,900 per month.

    8. What will happen if I fail to pay my RD installments?

      If you default frequently or if you fail to pay 6 consecutive RD installments, then the bank may close your account.

    9. Can I make partial payments in my HDFC Bank Recurring Deposit account?

      No, you cannot make partial payments in your HDFC Bank Recurring Deposit account.

    More you need to know about Recurring Deposit

    Read More Articles On RD

    Know how to Link Your KYC Dcuments to HDFC Bank Account

    News About HDFC Recurring Deposit Interest Rates

    • Bulk Deposit Rate Cut By HDFC Bank: Down By 125 BPS to 5%

      Interest rates on deposits with maturity dates over a year away and with a value of over Rs.5 crore have been slashed by HDFC Bank by 125 bps (basis points). This will take effect on Friday, and the new interest rate will stand at 5% for such deposits.

      Following suit with a number of banks that have reduced deposit rates post demonetization, HDFC has narrowed the differential between its bulk deposit rate with that of the State Bank if India, to 75 bps (previously 200 bps).

      Most banks have slashed their effective interest rates on deposits owing to the massive influx of funds following the de-recognition of Rs.500 and Rs.1,000 value currency notes. The total value of deposits (released by RBI) between the 10th of November and the 10th of December, 2016 was reported to be Rs.12.44 lakh crore.

      9th January, 2017

    • HDFC Bank Reduces Interest Rate for Deposits

      In news which is likely to impact the savings of thousands of customers, HDFC Bank reduced its interest rate on fixed deposits. The new interest offered by the bank stands at 7% for a one-year term, a cut of 25 basis points. Rates for other tenures have also been reduced, with HDFC now offering 7% interest on two and three-year terms as well. This move could have a huge impact on its customers, for other private banks offer much higher rates, with ICICI and Axis Bank offering 7.25% compared to 7%. A major reason why HDFC chose to reduce rates was to ensure that their margins did not suffer following the RBI rate cut.

      The rate cut issued by RBI has reduced the cost of loans, which means that banks will have to resort to other means to maintain parity. The current rate cut has meant that the actual interest is just 0.59% after tax deduction, which could lead to customers opting for other investments.

      9th November, 2016

    Recurring Deposit - Sitemap

    HDFC RD Rates Reviews

  • Page 1 of 17 1 2 3 4 5
    • HDFC Bank Recurring Deposit
      "Better "
      HDFC BANK
      0.5 4.0/5 "Great!"
      I had closed the recurring deposit account with the HDFC bank and the services offered by them was exemplary. Rate of interest is a nominal one with them and the lock in period was around one year of time. There were no penalty charges absolutely for the premature withdrawal. On top of all that, Customer service provided by HDFC Bank is really fantastic.
      Was this review helpful? 1
      , pune
      Reviewed on May 18, 2017
    • HDFC Bank Recurring Deposit
      "Conveneint saving process"
      HDFC BANK
      0.5 4.0/5 "Great!"
      HDFC Recurring deposit interest rate is low, I should deposit the amount of Rs.5000 every month for RD account its for the period of 15 months. Initially HDFC were providing the interest rate of 6.9% now it got less . But I am sure they will be providing assured interest rate.
      Was this review helpful? 1
      , faridabad
      Reviewed on May 15, 2017
    • HDFC Bank Recurring Deposit
      "Services are excellent"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I had closed the recurring deposit account with the HDFC bank and I had it for a period of one year of time. Interest rate was very minimal at that time. Net banking facilities are nice one and also its easy to track the account, also its really pretty fast to open this HDFC account.
      Was this review helpful? 2
      , mumbai
      Reviewed on May 10, 2017
    • HDFC Bank Recurring Deposit
      "Good RD"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      Even my HDFC RD is good. Even for this I got a call from HDFC bank I gave my confirmation for the same. They had deducted the amount from my savings account and every month it keeps deducting from my account. I do have access to online facilities too.
      Was this review helpful? 3
      , kolkata
      Reviewed on Apr 20, 2017
    • HDFC Bank Recurring Deposit
      "Best"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I got the recurring deposit account with the HDFC bank and its for the tenure of one year of time. Customer service is nominal one and the account got opened immediately and it was done by their branch staffs, also I mean to add that there were no hassle.
      Was this review helpful? 6
      , madurai
      Reviewed on Apr 04, 2017
    • HDFC Bank Recurring Deposit
      "Its Good Saving"
      HDFC BANK
      0.5 4.0/5 "Great!"
      I have opened HDFC recurring deposit by visiting the branch but there is an option in netbanking. I have been paying the monthly amount of Rs.1000 its for six month, next month its going to be over, I would be getting the amount Rs. 6100 on my account.
      Was this review helpful? 5
      , kozhikode
      Reviewed on Apr 04, 2017
    • HDFC Bank Recurring Deposit
      "Grow with HDFC "
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I have opened a recurring deposit account with the HDFC bank and the interest rate is around 7.5% and the lock in period is around five years of time . Services are better in their branch and the account got opened by very same day. I am okay with the HDFC bank.
      Was this review helpful? 3
      , chandigarh
      Reviewed on Mar 16, 2017
    • HDFC Bank Recurring Deposit
      "Fix deposite int 8%"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      Rate of interest is good and BHARAT CO-OP BANK is very co-operative bank staff is also very co-operative especially with NRI and NRE A/c holders.I have saving A/c also I need to have more rate of interest on saving A/c.Thanks very much My Best wish.
      Was this review helpful? 3
      , mumbai
      Reviewed on Jan 23, 2017
    • HDFC Bank Recurring Deposit
      "My RD account"
      HDFC BANK
      0.5 4.0/5 "Great!"
      This RD account was set up automatically as I hold a salary account with the same bank. Any time I can go for liquidation after 6 months however they were no charges for the same. They had calculated the percentage of interest earned for 6 months and the amount was transferred to my account.
      Was this review helpful? 7
      , chennai
      Reviewed on Dec 07, 2016
    • HDFC Bank Recurring Deposit
      "My RD account"
      HDFC BANK
      0.5 4.0/5 "Great!"
      This RD account was set up automatically as I hold a salary account with the same bank. Any time I can go for liquidation after 6 months however they were no charges for the same. They had calculated the percentage of interest earned for 6 months and the amount was transferred to my account.
      Was this review helpful? 3
      , chennai
      Reviewed on Dec 07, 2016
    • HDFC Bank Recurring Deposit
      "My RD "
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      Through the branch I had initiated the request for RD based on my HD. I am holding this RD for a period of one year. I am using this RD for emergency purpose and I had closed it. They took hardly a dayâ??s time to open this RD.
      Was this review helpful? 3
      , thanjavur
      Reviewed on Dec 01, 2016
    • HDFC Bank Recurring Deposit
      "HDFC RD is very convenient"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      Hassle free Recurring deposit experience with HDFC, Through Netbanking there is an option to open or close the recurring deposit, We can pay from Rs.1000 to 1 Lakhs rupees and its not mandatory to pay upto to the period, Could disconnect the RD any time when we need of money.
      Was this review helpful? 2
      , mumbai
      Reviewed on Nov 21, 2016
    • HDFC Bank Recurring Deposit
      "My recurring deposit"
      HDFC BANK
      0.5 4.0/5 "Great!"
      I had opened a Recurring deposit with HDFC Bank last year December. I earn good interest rate on my RD which is 7.5%. I dont get any sort of tax benefits from them.I am supposed to pay about rs 5000. I had opted for this RD through online and I am not sure about the minimum amount which needs to be deposited.
      Was this review helpful? 12
      , mumbai
      Reviewed on Oct 25, 2016
    • HDFC Bank Recurring Deposit
      "Saveing ets easy by RD"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I have changed job from one co and another and i was thinking of saving some money from my increased salary.. i read recurring deposit information on HDFC site and on the same day i decided to go for RD account. Through net banking facility i opened my RD account in just few minutes and interst rate was also good. Just go for it.
      Was this review helpful? 3
      , thane
      Reviewed on Oct 03, 2016
    • HDFC Bank Recurring Deposit
      "Very good features"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I have also tried a recurring deposit financial product form HDFC bank. They have a lot of options for this deposit and I am also given the choice of payments. The rate of interest provided is good. I also closed this account as and when I needed the funds, I did not have to call the bank of visit them for the same.
      Was this review helpful? 3
      , salem
      Reviewed on Oct 01, 2016
    • HDFC Bank Recurring Deposit
      "Smooth process"
      HDFC BANK
      0.5 4.0/5 "Great!"
      The prime reason for choosing HDFC Bank is because I hold a RD with them. With net banking the transactions are very smooth. This was taken for a period of one and a half year. The day before the maturity I got the message stating that my RD is going to get matured and the next day I was able to find the amount lying in my account.
      Was this review helpful? 4
      , jaipur
      Reviewed on Sep 10, 2016
    • HDFC Bank Recurring Deposit
      "Easy options"
      HDFC BANK
      0.5 4.0/5 "Great!"
      When ever I feel to open a Recurring deposit I can go on to the portal of HDFC Bank and open it. The fund gets directly deducted from my account. It is a hassle free process. The rate of interest is good. Like wise I could do the same when ever I want to close the account too. It is that convenient.
      Was this review helpful? 1
      , gurgaon
      Reviewed on Sep 10, 2016
    • HDFC Bank Recurring Deposit
      "Well organized process "
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      That was a feasible service offered from HDFC Bank in case of recurring deposits.The account can be opened by the customer through the online portal itself.They apply interest around 8.9% for the recurring deposit.They have not got any freezing period as well.
      Was this review helpful? 4
      , chennai
      Reviewed on Aug 30, 2016
    • HDFC Bank Recurring Deposit
      "Get safe with HDFC recurring"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I had recurring deposit account with HDFC bank and the interest rate was around 8.25%. I dont believe in bulk ECS and I would like to stick with the regular depositing money, which I signed off. Minimum time period for recurring deposit account is around 6 months and the maximum is around ten years of time.
      Was this review helpful? 1
      , ahmedabad
      Reviewed on Aug 27, 2016
    • HDFC Bank Recurring Deposit
      "Lower rate"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      HDFC bank is not providing any attractive schemes on RD. Earlier they were offering attractive interest rate now they have reduced the rate therefore I switched over . I can contact them any time to get my TDS and they will provide that as a soft copy..
      Was this review helpful? 2
      , kolkata
      Reviewed on Aug 27, 2016
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