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  • HDFC Recurring Deposit Interest Rates - November 2017

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    Being one of the largest private sector lenders in India, HDFC Bank is well-known for offering competitive interest rates on a broad range of financial products. When it comes to a Recurring Deposit account, HDFC Bank offers attractive interest rates with a host of benefits. The customers can open an HDFC RD account for a minimum term of 6 months to a maximum of 120 months. An RD account allows the customers to earn interest on the deposited amount at the maturity of the term. The deposits are made on a monthly basis through a standing instruction from the savings account to the RD account. Based on the term of the deposit, customer’s age, and other factors, the customers can earn an interest of 5.75% up to a maximum of 6.80%.

    Term of the Deposit Interest Rates (Subject to Change) Interest Rate for Senior Citizens Interest Rates for NRIs
    6 Months 5.75% 6.25% N.A.
    9 Months 6.00% 6.50% N.A.
    12 Months 6.75% 7.25% 6.75%
    15 Months 6.25% 6.75% 6.25%
    24 Months 6.25% 6.75% 6.25%
    27 Months 6.00% 6.50% 6.00%
    36 Months 6.00% 6.50% 6.00%
    39 Months 6.00% 6.50% 6.00%
    48 Months 6.00% 6.50% 6.00%
    60 Months 6.00% 6.50% 6.00%
    90 Months 6.00% 6.50% 6.00%
    120 Months 6.00% 6.50% 6.00%
    HDFC RD Interest Rates

    Key features of HDFC Recurring Deposits:

    • Deposit Amount: An RD account can be opened for a minimum of Rs.1,000 up to a maximum of 14,99,900 as the monthly deposit amount.
    • Term of Deposit: The account holder can choose to open an RD account for a term ranging from 6 months to 10 years.
    • Switching to Fixed Deposit (FD): At the maturity of the RD account, it can be converted into an FD account.
    • Interest Rate: The account holder can earn an interest ranging between 5.75% - 6.75% on the deposit value, senior citizens can earn an additional 0.50%.
    • Nomination: The HDFC Netbanking users can add or edit the nominee details instantly.

    How to Open an HDFC Recurring Deposit?

    The HDFC Netbanking users can open an RD account by following these simple steps:

    • Sign in to your account
    • Locate Recurring Deposit menu on the left side of the screen
    • Click on Open Recurring Deposit
    • Choose the amount of deposit
    • Choose the deposit term
    • Use the drop-down options to complete the details
    • Click on Continue to review the details and confirm to complete
    • Your RD account details will be displayed on the screen and added to your Netbanking section
    • The RD advice will be sent your mailing address within 3 - 4 working days.

    How to Liquidate An HDFC Recurring Deposit?

    If the account holder decides to close the RD account before the maturity, the following steps can be followed on the HDFC Netbanking section -

    • Sign in to your account
    • Click on Recurring Deposit menu listed on the left side of the screen
    • Click on Liquidate RD
    • Choose the RD account number
    • Click on Continue
    • Review the details and click on Confirm to liquidate
    • The details of the RD liquidation will be displayed on the screen

    The interest payable on such account will be lower of the base rate for the original / contracted term for which the RD account has been opened. The base rate is the rate applicable to an RD account of less than 1 crore as on the date of opening the account. If the account is closed within a month, no interest is payable apart from the principal amount.

    Factors to Consider Before Opening an RD Account:

    • Instalments: The instalment amount is chosen by the account holder at the time of opening the RD account which cannot be changed later. HDFC Bank doesn’t accept partial payment of instalment. The bank can close an RD account if more than 6 instalments are overdue. The interest rate on these types of accounts is subject to the premature liquidation policy of the bank.
    • Lock-in Period: The RD account comes with a lock-in period of one month. If the account holder opts for a premature liquidation, he/she will only get the principal amount without any interest.
    • Maturity: At maturity of the account term, the total earned interest along with the principal amount is credited to the account holder’s funding account provided all the due instalments are cleared. The maturity amount may change due to various factors such as due instalments, premature liquidation, new tax rules, etc.
    • Tax Deducted at Source (TDS): The interest earned through an RD account is subject to TDS as per the Income Tax rules.

    More you need to know about Recurring Deposit

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    News About HDFC Recurring Deposit Interest Rates

    • Yes Bank and HDFC Bank cut savings account interest rate after SBI

      HDFC Bank, one of India’s largest private-sector lenders, also joins the list of banks that have recently announced a cut in savings account interest rates. The bank cuts savings account interest rate by 0.5% to 3.5% from 4% for deposits less than Rs 50 lakh. HDFC maintains an unchanged savings account interest rate for deposits exceeding Rs 50 lakh. The new rates shall be applicable to both resident and non-resident customers of the bank with effect from August 19, 2017.

      Yes Bank, a private-sector lender, has reduced savings account interest rate by 1% to 5% for deposits not exceeding Rs 1 lakh. The bank retains an unchanged savings account interest rate, i.e., 6% on deposits exceeding Rs 1 lakh but less than Rs 1 crore. For deposits exceeding 1 crore, the rate has been reduced to 6.25% from 6.5%.

      29th August 2017

    • HDFC Bank Revised Their Savings Account Interest Rates To 3.5% p.a

      Following State Bank of India’s decision of reducing their interest rates on savings accounts, HDFC Bank as well reduced their rates. Previously, Bank of Baroda, Yes Bank, Karnataka Bank, and Axis Bank had also reduced their interest rates on savings bank account.

      HDFC Bank reduced their interest rate by 0.5% and brought it down to 3.5% p.a on savings bank account. If you have a recurring deposit with this bank, please check the revised interest rate.

      Also, the bank has not changed their interest rate for deposits which are more than Rs.50 lakh.

      18th August 2017

    • 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 18 1 2 3 4 5
    • HDFC Bank Recurring Deposit
      "Secure Deposit"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I have taken a recurring deposit with HDFC bank. The total tenure for this deposit is for 60 months. They have given a rate of interest of 7.90% and now its lowered to 6.75 percentage. Monthly from my HDFC savings account they will deduct that amount.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 08, 2017
    • HDFC Bank Recurring Deposit
      "Good Service"
      HDFC BANK
      0.5 4.0/5 "Great!"
      I have my salary account with HDFC bank so I thought of holding a Recurring deposit account with them as their services are good. Now I have been holding a Recurring deposit account with them for the past 1 year. I remember for the last 6 months I'm paying between Rs. 1000 to Rs. 2000 monthly. They give me 5.25% as interest.
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 28, 2017
    • HDFC Bank Recurring Deposit
      "Good Saving"
      HDFC BANK
      0.5 4.0/5 "Great!"
      Holding Recurring deposit account with HDFC, I used to pay Rs. 3000 on every month, it has tenure of one year, But the interest rate is very low like the banks norms. I think HDFC Is providing 6% of interest for the RD account, I am using it only for the investment purpose.
      Was this review helpful? 0
      , pune
      Reviewed on Oct 25, 2017
    • HDFC Bank Recurring Deposit
      "Very good account"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      HDFC Bank is my corporate account and my salary account is with HDFC. The reason why I had chosen HDFC for the Recurring Deposit was because of the interest rate which is 6% and it is the best and we have to pay monthly 1200 . This Recurring Deposit request was placed online. I can also view my maturity instructions online
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 17, 2017
    • HDFC Bank Recurring Deposit
      "Good Saving"
      HDFC BANK
      0.5 3.0/5 "Satisfactory"
      Generally invest Rs.10,000 on monthly average in my HDFC recurring deposit account. It has the tenure of two years, after maturity period I would get the amount around 30,000 and above. I am satisfied with them, online transaction is easy to make the payment.
      Was this review helpful? 0
      , chandigarh
      Reviewed on Oct 13, 2017
    • HDFC Bank Recurring Deposit
      "Very Good"
      HDFC BANK
      0.5 4.5/5 "Excellent!"
      I have the recurring deposit account with the HDFC bank and their interest rate is around 6.7%. Response is very good one for me and the total lock in period is around three to four years of time , also it depends on the choice.
      Was this review helpful? 0
      , patna
      Reviewed on Sep 28, 2017
    • HDFC Bank Recurring Deposit
      "Recurring deposit"
      HDFC BANK
      0.5 4.0/5 "Great!"
      Its just hold a saving account with HDFC based on which i had opened this RD. I dont see much difference in the interest rate nor i am able to save much savings it was meager. The interest rate was very much minimal not that much and all. For trial period i had opened this RD and i had preclosed it .This was taken before 6 years and RD was taken for a tenure of 3 months only.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 28, 2017
    • HDFC Bank Recurring Deposit
      "Wonderful"
      HDFC BANK
      0.5 4.0/5 "Great!"
      I am having the recurring deposit account with the HDFC bank and the response is very good one. Interest rate is good one with the HDFC bank like and their online banking facilities are good one with them.
      Was this review helpful? 0
      , kottayam
      Reviewed on Sep 22, 2017
    • HDFC Bank Recurring Deposit
      "Its Average"
      HDFC BANK
      0.5 3.5/5 "Pretty good"
      I had account issue with my saving account, hence their staff informed me to open recurring deposit with them. Therefore I opened RD before six months, every month I am making the payment of Rs.1000 it has tenure of six months. Finally I got the total amount Rs.6102 there was no benefit.
      Was this review helpful? 0
      , kollam
      Reviewed on Sep 21, 2017
    • HDFC Bank Recurring Deposit
      "Excellent service"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I have got a Recurring deposit with HDFC bank . I have got the RD account for 10 months but I have closed within 5months itself. I have close the RD account because of my emergency need. The rate of interest is nominal with HDFC RD account . I didn't got much difference in the amount when I closed RD account , I am satisfied with eh RD account from HDFC bank.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 20, 2017
    • HDFC Bank Recurring Deposit
      "Reccure the deposit"
      HDFC BANK
      0.5 4.0/5 "Great!"
      With HDFC bank i hold a Recurring deposit. As my salary account is with HDFC they directly deduct the recurring deposit amount. The amount which is deducting is 1000 rs. After one year we can withdraw that amount with a rate of interest 12 percentage.
      Was this review helpful? 0
      , krishnagiri
      Reviewed on Sep 18, 2017
    • HDFC Bank Recurring Deposit
      "RD is also good"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      HDFC RD is also very good. There is an option here, where one can transfer the funds on a monthly basis. Interest rate is one and the same as FD. I had given auto debit options where the funds would be transferred from my account to this RD. I dont get any tax benefit here and its a short term RD.
      Was this review helpful? 0
      , jaipur
      Reviewed on Sep 12, 2017
    • HDFC Bank Recurring Deposit
      "RD is also good"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      HDFC RD is also very good, the reason for choosing HDFC RD was because I hold an account with the same bank. I heard of this bank RD has got good benefits. It was taken for a limited duration . We earn an interest of rs 500 it was for a short duration of time which is 15 months and I earn an interest of 15% approximately for RD.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 07, 2017
    • HDFC Bank Recurring Deposit
      "My RD"
      HDFC BANK
      0.5 4.0/5 "Great!"
      HDFC Recurring Deposit is very good. I am holding this RD for a very short term period it was hardly for a period of 6 months. The amount is up to me to decide and I can deposit any amount starting from rs500 and I am not sure about the maximum limit and when it comes to closure it was auto closure and this request was initiated at the branch..
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 14, 2017
    • HDFC Bank Recurring Deposit
      "Banking services are excellent"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I also have a recurring deposit with HDFC Bank. It was a easy process to get this account. I could do it online and the services are good. The interest rate is also to my satisfaction. I do not have hassles in closing the account too. The response is top always.
      Was this review helpful? 0
      , tirunelveli
      Reviewed on Aug 12, 2017
    • HDFC Bank Recurring Deposit
      "Good RD account"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I am holding a RD With HDFC and it is really good . At the time of liquidation the funds would get transferred to my account automatically. through online i had placed a request for this RDI EVERY MONTH they would deduct around 2500 per month and its my choice when it comes to the amount.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 10, 2017
    • HDFC Bank Recurring Deposit
      "Good Service"
      HDFC BANK
      0.5 4.5/5 "Excellent!"
      I hold recurring deposit account with HDFC bank. The lock in period is one year. I am more comfortable with the services and I had no issues with the bank for RD account. The customer service is good and I am satisfied with the bank as I hold multiple services with the bank.
      Was this review helpful? 3
      , jabalpur
      Reviewed on Jun 05, 2017
    • 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? 3
      , 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? 5
      , 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? 3
      , mumbai
      Reviewed on May 10, 2017
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