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  • HDFC Bank Recurring Deposits Rates – August 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 6.80% 7.30% 6.80%
    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% - 6.00% 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

    Read More Articles On RD

    Know how to Link Your KYC Dcuments to HDFC Bank Account

    Perfect Fixed Deposit Deals for you

    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
      "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
    • 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? 5
      , 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? 4
      , 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
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