• HDFC Recurring Deposit Interest Rates

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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 7.25%.

    Tenure Regular RD Interest Rates (p.a) Senior Citizen RD Interest Rates (p.a) NRI RD Interest Rates (p.a)
    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 Recurring Deposit 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.

    FAQs on HDFC Recurring-deposit

    1. How do I add nominee details?

      While creating the RD account through the HDFC Netbanking service, you will be provided with an option to select your nominee’s details. The nominee details are retrieved from the savings account which is used to fund the RD account.

    2. What are the interest payout options?

      The interest on an RD account is paid on the maturity only. There is no provision to get monthly, quarterly, etc. interest payouts.

    3. How can I change the instalment due date?

      The account holder doesn’t have the option to change the instalment due date or the tenure of the RD account.

    4. How to set the RD instalment due date?

      Depending on the date the RD account has been opened, the RD instalments will be debited on the same date for the subsequent month.

    5. What happens when the instalments are not paid.

      The maturity benefit is subject to the payments of all due instalments. If there are more than six consecutive due instalments, the bank can close the RD account under the premature withdrawal policy.

    6. Can I earn additional interest for paying more than one instalment at once?

      No, though you can choose to make a payment for more than one instalment at a time, you won’t be entitled to additional interest.

    7. Does the RD account come with an overdraft facility?

      Currently, there is no overdraft facility for an RD account.

    8. Is it possible to liquidate an RD account before maturity?

      Yes, premature withdrawal is allowed based on the terms and conditions of the RD account.

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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%.

      29 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.

      18 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.

      9 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.

      9 November, 2016

    Recurring Deposit - Sitemap

    HDFC RD Rates Reviews

  • Page 1 of 15 1 2 3 4 5
    • HDFC Bank Recurring Deposit
      "Good Service"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I have a recurring deposit with the HDFC bank. The interest rate is nominal. The EMI is Monthly Debited from the salary account. Opening the deposit was very easy and it was done online. Never had any issues with the service.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 26, 2018
    • HDFC Bank Recurring Deposit
      "Recurring deposit with HDFC"
      HDFC BANK
      0.5 4.0/5 "Great!"
      I have a recurring deposit with HDFC bank and the rate of interest which they provide for the account was around 6.75%. I have chosen the tenure for 30 months with a monthly EMI of 1500. I can withdraw the amount after 30 months or in between. The service was very easy and simple.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 25, 2018
    • HDFC Bank Recurring Deposit
      "Recurring deposit with HDFC"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I have opened a recurring deposit with HDFC with a monthly EMI of 5000. The total tenure was for 2 years. The rate of interest which they were providing was 7.5%. We do withdraw the amount in between also there will not be any charges with them. The customer service and response with them is fine.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 19, 2018
    • HDFC Bank Recurring Deposit
      "Best Service"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I have my ongoing Recurring Deposit with HDFC bank and i am investing from last 1 year, I pay an amount of Rs 1000 every month and the customer service of HDFC bank was very good, they gave all the right information and guided me well. The maturity period is after 1 year and i get a interest of 6.5% on returns.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Apr 09, 2018
    • HDFC Bank Recurring Deposit
      "Nice experience"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I hold a recurring deposit with HDFC Bank and the process is good. I can open this account on the mobile application. There is a lock in period for a year and six month. The rate of interest is good and there are no hassles in the process. Overall good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 24, 2018
    • HDFC Bank Recurring Deposit
      "Good investment plan with HDFC"
      HDFC BANK
      0.5 4.0/5 "Great!"
      I have started a recurring deposit an investment plan with HDFC bank with a tenure of 1 years. The total rate of interest is which they provide for 1 year is 7%. Before completing the maturity period if i withdraw the amount, i am not sure about the withdrawal charges as i did not tried that. The customer service and response is fine.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 14, 2018
    • HDFC Bank Recurring Deposit
      "Good investment"
      HDFC BANK
      0.5 4.0/5 "Great!"
      I have started a recurring deposit an investment plan with HDFC bank with a tenure of 2 years. The total rate of interest is 7%. After two years i can withdraw the amount. The customer service and response is fine. Before completing the maturity period if i withdraw the amount, i am not sure about the withdrawal charges.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 14, 2018
    • HDFC Bank Recurring Deposit
      "Good"
      HDFC BANK
      0.5 3.5/5 "Pretty good"
      I had a Recurring Deposit in HDFC Bank and it was closed long back. I have paid 1000 rupees every month. After the maturity period I have received a minimal amount. It is useful for the saving purpose. The rate of interest was not good. I got a proper response.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 01, 2018
    • HDFC Bank Recurring Deposit
      "Good service"
      HDFC BANK
      0.5 4.0/5 "Great!"
      I had a Recurring deposit with HDFC bank and my experience was good so far, the services provided by this bank is very good when compared to other banks. I pay an amount of Rs 2000 every month which gets auto deducted from the salary account. I get a interest of 6.99% and happy with the returns.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 27, 2018
    • HDFC Bank Recurring Deposit
      "Nice experience"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      The rate of interest is good at HDFC Bank for the recurring deposit. It is almost the same as other banks. The service online is good as I can open and close this account online without having to go to the banks. The overall process is fine and I am glad to bank with them
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 19, 2018
    • HDFC Bank Recurring Deposit
      "Hassle Free experience"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      HDFC recurring deposit interest rate is nominal, I opened account through online, their notification part is good. I make the monthly investment around Rs. 15000 for the tenure of 24 months. At last I got the return got credited in the account.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 15, 2018
    • HDFC Bank Recurring Deposit
      "Good Service"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      First time I opened RD in HDFC, but the return was less. They offered me the interest rate around 6.5%, Then I quite in amount, I activated this service through online and once cancel it the amount got credited in a month. The service is absolutely fine but interest rate is the concern.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 09, 2018
    • HDFC Bank Recurring Deposit
      "Best one"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I was having the recurring deposit with the HDFC bank on that time. Rate of interest was around 6.9% and the customer service was good. Penalty charges were around 1% of the interest rate charges on accumulated money.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 02, 2018
    • HDFC Bank Recurring Deposit
      "nice recurring deposit"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I had a Recurring deposit in Hdfc Bank. I got satisfied Interest rate in Recurring Deposit. I can monitor this Recurring Deposit Activities in my Hdfc Mobile Banking application. I can check the status of my deposit maturity status and interest certificate also.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 31, 2018
    • HDFC Bank Recurring Deposit
      "Good service"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I had a Recurring Deposit with HDFC bank 3 years back, the services are very good with this bank and i did not find any issues with this bank. I pay an amount of Rs 4200 every month and the maturity period is after 5 years. Customer service was good and they responded on time. I get interest of 9% which is sufficient and i am happy with the returns.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jan 19, 2018
    • HDFC Bank Recurring Deposit
      "Good"
      HDFC BANK
      0.5 4.0/5 "Great!"
      I have taken a Recurring Deposit with HDFC Bank long back. Everything is renewed and reimbursed with them. I have chosen this bank, it was very easy to use the net banking and the interest rate was good. I have taken this account through online and I hardly visit the branch to exchange the foreign currency.
      Was this review helpful? 0
      , navi mumbai
      Reviewed on Dec 29, 2017
    • HDFC Bank Recurring Deposit
      "Best "
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I do have recurring deposit account with the HDFC bank and the response is fine one. I would like to say that the rate of interest is good one for me with the HDFC bank. Everything is fine one for me with the HDFC bank.
      Was this review helpful? 3
      , hyderabad
      Reviewed on Dec 22, 2017
    • HDFC Bank Recurring Deposit
      "Excellent service"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I have opened a Recurring deposit.I have been banking with them for last one year.The rate of interest is 6.67% ,its beneficiary to the customer.I maintain a minimum balance of Rs 5000.Net banking is convenient to use.The phone banking service is comfortable to use.
      Was this review helpful? 1
      , mumbai
      Reviewed on Nov 28, 2017
    • HDFC Bank Recurring Deposit
      "Good Service"
      HDFC BANK
      0.5 4.0/5 "Great!"
      I have most of my banking products with HDFC bank. As I'm an employee as well as I liked HDFC bank's services I decided to start a reccurring deposit for my future savings with HDFC bank itself. If we book recurring deposit through online then we will get offers some like free deal, provogue bags or watches, vouchers. Annually I pay Rs. 3000 and I get an interest of 7.75%.
      Was this review helpful? 0
      , jammu
      Reviewed on Nov 20, 2017
    • 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? 2
      , chennai
      Reviewed on Nov 08, 2017
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