HDFC RD (Recurring Deposit) Calculator Online
Calculate the your returns based on the power of compound interest calculator
Goal Amount
Expected Return (P.A)
Time Period
Summary
To achieve a goal amount of ₹15,00,000 in 10 year(s), and at 5% inflation, you would need to invest ₹9,20,869 at a 10% rate of return.
Summary
To achieve a goal amount of ₹15,00,000 in 10 year(s), and at 5% inflation, you would need to invest ₹9,20,869 at a 10% rate of return.
Total Investment Breakup
Lumpsum Investment
Interest Earned
Total Investment
| Year | Investment Amount (₹) |
Wealth Gained (₹) |
Expected Amount (₹) |
|---|
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HDFC Recurring Deposit Calculator
All you need to know about HDFC RD Calculator
Looking for a consistent and interest-earning savings method? Consider the HDFC RD account. It enables regular savings with interest accrual. HDFC RD offers a dependable solution for your financial goals and investments.
Yet, understanding the RD intricacies, its advantages, and especially the monthly RD calculation can be a challenge. This is where the HDFC RD calculator becomes invaluable. It provides clear answers to queries about maturity amounts and interest rates. Explore the HDFC Recurring Deposit and harness the HDFC RD calculator for comprehensive insights.
What is the HDFC RD Calculator?
The HDFC RD calculator or HDFC RD interest rates calculator is an online tool that assists in assessing the interest generated from recurring deposits. The maturity amount for these deposits comprises the sum of all contributions along with the accrued interest during the investment period.
This user-friendly calculator requires minimal inputs to compute your interest earnings and the ultimate maturity value of your investment. Utilising the HDFC bank recurring deposit calculator allows you to save time, enhance financial planning, and make well-informed decisions.
How To Use the smallcase HDFC RD Calculator Online?
The HDFC RD calculator by smallcase offers simplicity and user-friendliness. It’s accessible to anyone with basic internet skills. Let’s explore a straightforward guide on using this calculator.
Step 1:
Enter the amount you wish to invest in an HDFC RD.
Step 2:
Slide the bar to the expected rate of return that you wish to have
Step 3:
Enter the time period for which you are going to invest in the HDFC RD.
Lastly, the smallcase HDFC RD Calculator will present you with accurate results in a matter of a few seconds!
HDFC RD Interest Rate Formula To Calculate the Maturity Amount.
To compute the RD maturity amount, smallcase works with three variables. The HDFC Recurring Deposit calculator employs a standard formula to precisely determine this amount.
This formula is as follows:
A = P*(1+R/N)^(Nt)
| A | Final Amount (Including both principal and compound interest) |
| P | Monthly Installment (Initial investment) |
| r | Annual Interest Rate (expressed as a decimal) |
| n | Number of times interest is compounded per year |
| t | Number of years the money is invested for |
Within this equation, the variables symbolize the essential elements.
Let us see this formula demonstrated by an example now:
Suppose an individual initiates an HDFC RD account with a monthly investment of Rs. 5000 for 1 year (4 quarters) at an 8% interest rate. The maturity amount can be calculated using this formula:
A = P*(1+R/N)^(Nt)
= 5000*(1+.0825/4)^(412/12) = 5425.44
= 5000*(1+.0825/4)^(411/12) = 5388.64
…
= 5000*(1+.0825/4)^(4*1/12) = 5034.14
Summing up the series, the total maturity value (A) amounts to Rs 62,730.85.
Solving this equation manually can be intricate. However, by utilising the smallcase HDFC RD calculator, you can swiftly obtain the precise figure within seconds. Therefore, the maturity value for the RD account investment is INR Rs 62,730.85.
Key Features of HDFC Recurring Deposit
- Flexible Investment Options: HDFC RD allows you to start with a low monthly amount, making it accessible to all investors.
- Attractive Interest Rates: The RD interest rate HDFC Bank offers is competitive and varies by tenure and customer type.
- Automatic RD Installments: Set up automatic RD installments in HDFC to ensure seamless saving each month.
- Tools for Better Planning: Use the RD deposit calculator and HDFC calculator RD to estimate returns and plan your savings effectively.
- Compounding Benefits: Interest is compounded quarterly, enhancing returns. Use the recurring calculator HDFC provides to see how compounding impacts your savings.
HDFC Bank Documents Required and Eligibility for RD Account
There are a few checklists to maintain if you want to open an HDFC RD. These can be divided into two separate checklists. One checklist for the documents required of you and the second one for the eligibility criteria.
Documents Required for an HDFC RD
- Application form for an HDFC RD.
- KYC Documentation.
- Passport size photographs.
- Proof of identification.
- Proof of address.
Eligibility Criteria for an HDFC RD Account:
- Indian citizens
- Trusts
- Sole organizations
- Hindu Undivided Families (HUFs)
- Minors above the age of 10
- Non-Resident Indians (NRIs)
- Companies
- Partnership firms
Table for HDFC Bank RD Interest Rates
A table comparing the HDFC RD Interest Rates for General Citizens and Senior Citizens is presented below:
| Tenure | General Citizens (RD Rates) | Senior Citizens (RD Rates) |
| 6 months | 3.50% | 4.00% |
| 9 months | 4.40% | 4.90% |
| 12 months | 5.10% | 5.60% |
| 15 months | 5.10% | 5.60% |
| 24 months | 5.10% | 5.60% |
| 27 months | 5.15% | 5.65% |
| 36 months | 5.15% | 5.65% |
| 39 months | 5.30% | 5.80% |
| 48 months | 5.30% | 5.80% |
| 60 months | 5.30% | 5.80% |
| 90 months | 5.50% | 6.00% |
| 120 months | 5.50% | 6.00% |
What Are the Benefits of Using the Smallcase HDFC RD Calculator?
Following are the benefits of using the smallcase HDFC Bank RD calculator:
- Cost-Free: The smallcase HDFC Bank RD calculator is available for unlimited usage without any charges, accessible through any internet-enabled device. Whether you are using the RD calculator HDFC Bank provides or another online RD calculator, it offers an effortless, cost-free experience.
- Facilitates Informed Choices: This HDFC Recurring Deposit calculator allows you to experiment with various combinations of monthly investments, tenures, and interest rates. The online RD calculator helps you compare returns across different scenarios, empowering you to make decisions that align with your financial requirements and maximize the RD interest rates HDFC offers.
- Minimizes Human Error: While the HDFC Bank RD calculator formula may seem intricate, even a minor mistake can significantly impact the outcome. Utilizing the recurring deposit calculator HDFC Bank offers minimizes errors, enhancing precision and dependability. Whether calculating RD interest with HDFC RD interest calculator or other online tools, this process ensures accuracy.
- Simplifies Financial Planning: With the HDFC recurring calculator, you can easily determine the monthly contributions required to achieve long-term goals like purchasing a home or funding a wedding. It also aids in more effective monthly budgeting, enabling you to plan RD installments in HDFC without compromising your quality of life. The RD interest calculator HDFC offers also helps you understand how different RD rates in HDFC affect your savings, making financial planning smoother and more reliable.
Premature Closure and Penalties
Although RDs are meant for disciplined savings, you may need to close your RD before maturity due to unexpected financial needs. Here’s what you need to know:
- Penalty Charges: HDFC Bank may levy a penalty on premature closure of the RD. The penalty rate is usually a percentage deduction from the applicable RD interest rate HDFC provides. Check the details using the smallcase charges calculator for any applicable fees.
- Impact on Interest: The interest paid on prematurely closed RDs is lower than the contracted rate, often based on the RD interest rate HDFC Bank offers for the actual period the RD remained with the bank. To calculate RD interest HDFC applies in such cases, you can use the RD deposit calculator or HDFC RD interest rate calculator for exact calculations.
- Process for Premature Closure: You can close the RD account through HDFC Bank’s net banking, mobile banking, or by visiting the branch. Knowing how to cancel RD in HDFC is crucial, especially when unexpected financial needs arise.
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Frequently Asked Questions
What is the RD rate at HDFC Bank?
These are the HDFC RD interest rates for General Citizens and Senior Citizens.
| Tenure | General Citizens (RD Rates) | Senior Citizens (RD Rates) |
| 6 months | 3.50% | 4.00% |
| 9 months | 4.40% | 4.90% |
| 12 months | 5.10% | 5.60% |
| 15 months | 5.10% | 5.60% |
| 24 months | 5.10% | 5.60% |
| 27 months | 5.15% | 5.65% |
| 36 months | 5.15% | 5.65% |
| 39 months | 5.30% | 5.80% |
| 48 months | 5.30% | 5.80% |
| 60 months | 5.30% | 5.80% |
| 90 months | 5.50% | 6.00% |
| 120 months | 5.50% | 6.00% |
How is RD maturity calculated in HDFC Bank?
In the case of RDs, the maturity amount includes both the total investments made and the interest accrued throughout the investment period. Additionally, the interest on RD compounds quarterly. HDFC Bank provides various tenure choices, ranging from six months to ten years, allowing investors to select their preferred investment duration.
Are senior citizens eligible for any extra benefits on HDFC RDs?
Senior citizens are given a higher preferential rate of 0.75% on RDs at HDFC and generally, the HDFC RD interest rates are generally higher for senior citizens.
Do HDFC RDs come with nomination benefits?
You can make a nomination while making RDs through netbanking on the HDFC banking portal.
Does HDFC provide loans against RD?
Loan facility is available for Recurring Deposits at HDFC Bank. The maximum limit is up to 90% of the deposit amount value.
How are RDs taxed?
Tax Deducted at Source (TDS) is applicable on interest earned from HDFC RDs when it exceeds Rs. 40,000 in a financial year (Rs. 50,000 for senior citizens). TDS is deducted at a rate of 10% on the interest amount exceeding the threshold. Income tax is to be paid on the interest earned from an HDFC Recurring Deposit at the rate of the tax slab of the RD holder.
How to use the HDFC RD calculator online?
Step 1:
Enter the amount you wish to invest in an HDFC RD.
Step 2:
Slide the bar to the expected rate of return that you wish to have
Step 3:
Enter the time period for which you are going to invest in the HDFC RD
Can I withdraw RD at any time?
HDFC allows premature withdrawals but in return, it charges 1% of the deposited amount as a penalty. If the lock-in period is not met, no interest will be paid on the deposited amount. Another thing to keep in mind is that the bank does not allow partial withdrawals on RDs.
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