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How to Open a Recurring Deposit Account Through HDFC NetBanking

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HDFC Bank allows you to make a small investment every month for which you can earn an excellent interest rate. A Recurring Deposit, unlike the Fixed Deposit (FD) account that is an investment of lump sum amount, offers the flexibility of paying as low as Rs.1000 to as much as Rs.14,99,900 per month. You can open an RD account ranging from a minimum of 6 months to a maximum of 10 years. When the account reaches maturity, you will get the complete deposited amount along with the interest. If you are looking to open an RD account with HDFC Bank, you need to be a registered user for the NetBanking services. You can login to your account using the Customer ID and PIN.

RD through HDFC NetBanking

Steps to Open An RD Account Online:

  • Login to your NetBanking account
  • Click on the 'Accounts' tab
  • Click on the 'Transact' option on the left side of the menu
  • Choose 'Open Recurring Deposit’
  • Select the account and branch details
  • Provide the amount that you wish to invest
  • Choose the deposit duration
  • ‘RD Maturity Instructions’ allows you choose mode of remittance
  • Provide nominee details
  • Click on ‘Continue’ to verify the details
  • Confirm to download the Recurring Deposit Advice

Currently, HDFC Bank offers Regular Recurring Deposit as well as NRE Recurring Deposit.

Features and Benefits of Opening HDFC RD Account Online:

The process of opening an RD account with HDFC Bank is simple and easy.

  • Once you have opened the RD account with the desired values, you won’t be able to change the investment amount or the tenure.
  • You can count on HDFC Bank for competitive interest rate ranging from 5.75% to a maximum of 6.90% for an RD account.
  • The senior citizens have the privilege to earn an additional interest rate of 0.50%.
  • The installments will get debited from your savings account that has been used to create the RD account.
  • Additionally, the interest earned on your RD account is TDS free.
  • While creating the RD account, you are provided with options to either add a new nominee or select the nominee that is listed in your savings account.
  • If the RD is a joint account, the nominee is selected from the savings account only.

With HDFC Bank Recurring Deposit, you can start investing as low as Rs.1000 per month and earn interest rates that are similar to an FD account. This is a unique and special term deposit that helps people with regular incomes to save money every month while earning interest as well.

If you are curious to know how much HDFC rd interest rate you can earn with your investment plan, you can use the RD calculator provided by the Bank. If you need to liquidate your RD account prematurely, you will not be eligible for the complete interest benefits. Moreover, the process of liquidating the RD account is as simple as opening it. Please visit the bank’s website for more information. You can also contact the branch or the customer service team to obtain more details about the HDFC Recurring Deposit accounts.

Recurring Deposit by Banks
Recurring Deposit by other Institutions

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Recurring Deposit Reviews

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  • HDFC Bank Recurring Deposit
    "Improvement needed on their application"
    HDFC BANK
    0.5 3.5/5 "Pretty good"
    I am very new to HDFC BANK interms of Recurring deposit and its been a first time around 2 to 3months. The helpline number is 24/7 but I did not get response on time. It was a toll free number. The interest rate is nominal. There is no locking period and the application is user friendly but it should be better when compared to ICICI.
    Was this review helpful? 0
    , nasik
    Reviewed on Oct 15, 2019
  • HDFC Bank
    HDFC Bank Recurring Deposit
    "Easy to apply"
    HDFC BANK
    0.5 4.0/5 "Great!"
    I was paying the RD of Rs. 2000 and i started paying the first month amount by last month. In net banking, there is no option to pay my RD. I have chosen HDFC because I'm the account holder of the same account. There is a lockin period of 6 months and at the end of six month it will get converted into fixed deposit. Interest rate is too low.
    Was this review helpful? 2
    , hyderabad
    Reviewed on Oct 10, 2019
  • HDFC Bank Recurring Deposit
    "Good bank for future"
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    HDFC gave me very good interest for my recurring deposit, every month I used to invest Rs.3000 for 6 months, finally I about to get Rs.18,000 without interest as per my RD, the bank gave me Rs. 18594 its really good, the online banking is very convenient.
    Was this review helpful? 5
    , bangalore
    Reviewed on Sep 14, 2019
  • HDFC Bank Recurring Deposit
    "Good Investment"
    HDFC BANK
    0.5 4.0/5 "Great!"
    I have a recurring deposit from HDFC. I have a salary account in HDFC hence i have chosen the same bank. I have been investing the money of Rs. 1000 every month and they are providing a interest rate of 7%. Once my salary is credited, my RD amount will automatically deducted from my account. There is a lockin period of 2 years.
    Was this review helpful? 3
    , bangalore
    Reviewed on Sep 14, 2019
  • HDFC Bank Recurring Deposit
    "Can do better on the interest"
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    Recently I opened HDFC recurring deposit, the interest rate is lesser around 7.25% fpr per annum, every month I activated ecs for Rs. 2000 it has the term of 18 months. There is no pre matured charges to take the liquidity. The online banking is convenient to check the RD transactions as well.
    Was this review helpful? 1
    , bangalore
    Reviewed on Sep 05, 2019
  • HDFC Bank Recurring Deposit
    "Really useful for the people for savings purpose."
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    HDFC People has provided me a RD account when i opened my salary account hence every month Rs. 1000 has been deducted from my account. I get a quick response from HDFC. Their interest rate is quite good. There is no additional charges and there is a lockin period of 18 months.
    Was this review helpful? 2
    , indore
    Reviewed on Sep 01, 2019
  • HDFC Bank Recurring Deposit
    "Good Savings scheme"
    HDFC BANK
    0.5 4.0/5 "Great!"
    I have a basic recurring deposit in HDFC. In HDFC, they themselves deducting the money of Rs. 1000 every month for a recurring deposit. The interest rates are good which is more than 7%. There is no additional charges. There is no lockin period and i can canceled it any time. The time which i have chosen for 27 months.
    Was this review helpful? 4
    , chennai
    Reviewed on Aug 26, 2019
  • HDFC Bank Recurring Deposit
    "Good saving for future"
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    When I opened salary account I got the RD along with that, I am investing the money on the monthly basis, the rate of interest for RD is good. They are doing auto deduct from the account balance, I can view the RD transaction through netbanking.
    Was this review helpful? 2
    , bangalore
    Reviewed on Aug 23, 2019
  • HDFC Bank Recurring Deposit
    "Good savings scheme"
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    I have been maintaining Recurring Deposit account with HDFC, I have opt for one year of recurring deposit. I am investing the money of Rs.2000 per month, the interest rate is good as per th RBI guideline. There is no charges for holding this. Good saving and getting benefited from this.
    Was this review helpful? 3
    , bangalore
    Reviewed on Aug 22, 2019
  • HDFC Bank Recurring Deposit
    "Good for saving"
    HDFC BANK
    0.5 4.0/5 "Great!"
    I have been maintaining RD account with HDFC, I have opt for one year of recurring deposit. I believe we can deposit Rs.5000 per month, the interest rate is good as per th RBI guideline. There is no charges for the liquidity before the maturity period it won't cover tax.
    Was this review helpful? 3
    , kolkata
    Reviewed on Jul 29, 2019
  • HDFC Bank Recurring Deposit
    "Good"
    HDFC BANK
    0.5 4.5/5 "Excellent!"
    I have invested my money with HDFC BANK. I can manage the recurring deposit account online. I have compared with the different bank but the rate of interest is more or less same. I never contacted the customer service. The locking period is one year.
    Was this review helpful? 4
    , gurgaon
    Reviewed on Jul 20, 2019
  • HDFC Bank Recurring Deposit
    "GOOD"
    HDFC BANK
    0.5 4.0/5 "Great!"
    I am having the recurring deposit with the HDFC BANK where there are charges are applicable with the pre mature. The application and Internet banking is good with the banking process. The customer support is good and also they are responsive.
    Was this review helpful? 0
    , kolkata
    Reviewed on Jul 17, 2019
  • HDFC Bank Recurring Deposit
    "Flexible recurring deposit"
    HDFC BANK
    0.5 3.0/5 "Satisfactory"
    I am having recurring deposit with Hdfc bank, they are providing standard interest rate but now its dragging down. I can deposit from Rs. 500 to 1 lakh, I have opt for one year of tenure, the online facility is very good even I have option to close through netbanking.
    Was this review helpful? 2
    , thane
    Reviewed on Jul 03, 2019
  • HDFC Bank Recurring Deposit
    "Good online feature"
    HDFC BANK
    0.5 4.0/5 "Great!"
    My bank is offering 7.8% of interest for the recurring deposit that is for one year, customer can deposit maximum of Rs.2 lakhs. They have one year of duration, they used to resolve my RD queries on time and I get statement as well. The interest rate can be improved. The HDFC online facility is very good to open and close the RD account.
    Was this review helpful? 1
    , chennai
    Reviewed on Jul 02, 2019
  • HDFC Bank Recurring Deposit
    "Comfortable RD"
    HDFC BANK
    0.5 4.0/5 "Great!"
    HDFC norms is pretty good, I can do everything through online they give all the information, I can deposit minimum of Rs. 1000 and I have maximum tenure of five years. They are providing 6.3% to 7% of interest based on the tenure, the customer support is also helpful.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jun 30, 2019
  • HDFC Bank Recurring Deposit
    "Good RD"
    HDFC BANK
    0.5 3.0/5 "Satisfactory"
    When i apply the salary account, they have provided me a RD account. Once the salary is credited, they will deduct the recurring deposit amount of Rs. 1000. I did not aware of the interest rate and there is no lockin period. I never interacted with the customer care service so far. They are not sending the notification when they deduct the amount from my account.
    Was this review helpful? 3
    , bangalore
    Reviewed on Jun 11, 2019
  • HDFC Bank Recurring Deposit
    "Very much userfriendly"
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    Long back from HDFC bank I have opened recurring deposit, I have opt for three months of tenure period, but I taken the money in four months. The interest rate is nominal as per RBI guideline, I done the process through online. Therefore everything was great.
    Was this review helpful? 2
    , new delhi
    Reviewed on Jun 07, 2019
  • HDFC Bank Recurring Deposit
    "Its Good"
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    Two years back I had a recurring deposit in HDFC Bank, the process was very easy because I opened and closed through online. They are very genuine in terms of interest , there is no charges applicable for the pre matured, I can liquidate the fund after certain amount,
    Was this review helpful? 0
    , chennai
    Reviewed on May 26, 2019
  • HDFC Bank Recurring Deposit
    "Good investment"
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    I had small HDFC recurring deposit, I done the process through online Banking. Per month I used to invest around Rs. 1000 for two years of term. I got the best return the entire amount was credited to the account, once it crossed the maturity period.
    Was this review helpful? 1
    , lucknow
    Reviewed on May 20, 2019
  • HDFC Bank Recurring Deposit
    "Excellent"
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    I have a recurring deposit with HDFC BANK and am doing monthly investment. I have chosen a plan of 14L, I can manage the account online. And whenever visited the branch, its most convenient. It was started in the year of 2004 or 2003, am getting profit on this.
    Was this review helpful? 4
    , hyderabad
    Reviewed on May 12, 2019
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