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A Recurring Deposit (RD) allows you to deposit a fixed amount on a regular basis with your bank, and earn interest income on it. It is similar to a Fixed Deposit (FD) where you enjoy a higher rate of interest than a savings account for the same principal amount.

The main difference between an FD and an RD is that a recurring deposit allows you to make ongoing periodic investments in the deposit, whereas in a fixed deposit , you need to deposit the entire lump amount at the time you open the FD account. For a much smaller investment per month, you get interest rates equal or similar to that of regular Fixed Deposits.

HDFC Bank Recurring Deposit Schemes

Hdfc Bank Recurring Deposit Rate

An RD in HDFC Bank instils a habit of regular savings, where in you can invest a fixed amount every month for a fixed number of months. You can make fixed monthly instalments to an HDFC Bank recurring deposit scheme either by a standing instruction, ECS mandate or by regular direct remittance.

Benefits of HDFC Bank RD Account

  • Allows you to safely deposit small amount of money on a regular basis rather than a bulky one-time payment at opening of the RD
  • Ideal for people with a regular, steady income who may not be able to spare enough money for the minimum amount to open an FD
  • Flexible tenure – you can choose tenures which can range from a few months to several years
  • The HDFC Bank RD scheme offers a higher rate of interest than a savings bank account—similar to an D—but with a smaller ongoing investment
  • It is a safe, low-risk form of investment
  • Secure from fluctuations
  • Interest is paid only on maturity
  • You can instructions to convert your RD scheme into FD at maturity
  • Nomination facility

Features of HDFC Bank RD Account

  • You can start the RD investment with minimum of Rs.1000 and maximum of Rs.1,49,900 and in multiples of Rs. 100 thereafter
  • The RD account can be opened with the minimum tenure of 6 months and maximum of 10 years. The minimum tenure for NRI customers is 12 months.
  • Tax deducted at source (TDS) is applicable when the interest income crosses Rs.10,000 in a financial year
  • The instalment amount once fixed cannot be altered
  • The HDFC Bank RD scheme will have minimum lock-in period of 1 month
  • No interest will be paid for premature withdrawal within a month
  • If there is a continuous default for over 6 instalments, the bank reserves the right to close the account and interest is payable as per the premature policy
  • Preferential interest rate for senior citizens

HDFC Bank Recurring Deposit Interest Rates

HDFC Bank RD interest rate is similar to rates offered for FD accounts. You can get the best rates for an HDFC Bank Recurring Deposit by investing in any of its RD schemes. Following is an overview of HDFC Bank RD interest rates including HDFC Bank Short-Term RD Interest Rates. For the latest and accurate RD interest rates in HDFC Bank, it is advisable to check with the bank directly.

HDFC Bank recurring deposit interest rates are effective from June 06, 2018 for Resident Customers

HDFC Bank Recurring Deposit Rates
TenureInterest Rate (per annum)
6 Months6.25%
9 Months6.75%
12 Months7.30%
15 Months7.30%
24 Months7.30%
27 Months7.40%
36 Months7.40%
39 Months7.25%
48 Months7.25%
60 Months7.25%
90 Months6.50%
120 Months6.50%

HDFC Bank Senior Citizen RD Interest Rates

Senior citizens will higher rate of interest rate on HDFC Bank RD account when compared to normal accounts. Below is the interest rate that is currently applicable on HDFC Bank RD account.

TenureSenior Citizen Rates (per annum)
6 Months6.75%
9 Months7.25%
12 Months7.80%
15 Months7.80%
24 Months7.80%
27 Months7.90%
36 Months7.90%
39 Months7.75%
48 Months7.75%
60 Months7.75%
90 Months7.00%
120 Months7.00%

HDFC Bank recurring deposit interest rates for NRI Customers

TenureInterest Rates p.a. for NRIs
6 MonthsN.A
9 MonthsN.A
12 Months7.30%
15 Months7.30%
24 Months7.30%
27 Months7.40%
36 Months7.40%
39 Months7.25%
48 Months7.25%
60 Months7.25%
90 Months6.50%
120 Months6.50%

HDFC Bank Recurring Deposit Calculator

You can make use of the HDFC Bank RD Calculator to compute the interest and the maturity earned on your invested amount. Using an RD Calculator is easy—all you need to do is enter the amount you want to invest monthly, date of opening of RD, the tenure and due date of RD; the calculator will provide the maturity amount that you get at the time of maturity of the Recurring Deposit.

Using an RD calculator gives you the maturity amount and accordingly decide how much you want to invest. You can try various investment amount options and opt for the one that is most suited to your budget and helps achieve your financial goal.

Who can open an RD account with HDFC Bank?

Following are the people who can open and RD account with HDFC Bank.

  • All Indian residents
  • Members of Hindu Undivided Families (HUF)
  • Private and public limited companies
  • Trusts and societies

Advantages of Opening an RD account

  • Ideal for people who cannot deposit a large initial lump sum for a fixed deposit but want to deposit small amounts on a regular basis.
  • An RD account can be opened with small minimum amount.
  • Lump sum received at maturity, along with the accrued interest amount.
  • The rate of interest is higher as compared to an ordinary saving bank account
  • Interest Rate earned is generally equal to that of an FD
  • Flexible tenures to suit the budget of the individual
  • Recurring Deposit Interest rate is fixed so you are assured of a steady return
  • Loan / overdraft facility available with some banks.
  • More liquid than most investment instruments

Disadvantages of Opening an RD account

  • If you need to withdraw from your RD due to a financial crunch, you might need to pay a penalty.
  • The interest earned might be lower than other, riskier, forms of investment, say investing in mutual funds, etc.But the money is safe and secure from market fluctuations.
  • HDFC Bank RD FAQs

    1. What is the minimum amount required to open an RD with HDFC Bank?

    The minimum opening balance for a regular recurring deposit with HDFC Bank is Rs. 1000.

    2. What is the minimum and maximum deposit period?

    The minimum deposit tenure is 6 months and up to a maximum of 10 years.

    3. How do I apply for a regular recurring deposit?

    You can open a regular recurring deposit online through your NetBanking account if you are an existing customer. Alternately, you can visit your nearest branch and submit the recurring deposit account form.

    4. What is the documentation required to open an RD account?

    You will require the following documents:

    • Filled-in application form
    • Passport size photograph
    • Proof of residence
    • Introduction letter from an existing customer of HDFC Bank (if required)
    • Any other KYC documents as required by the bank

    5. Does the RD have a lock-in period?

    Yes, the recurring deposit account has a minimum lock-in period of one month.

    6. I want to close the RD account, but it has only been one month. What are the charges?

    In the case of premature closure within a month, no interest shall be paid and only your principal amount shall be returned.

    7. Can I avail an Overdraft facility?

    Right now, there is no overdraft facility for recurring deposits.

    Hdfc Bank Recurring Deposit Rate - Customer Reviews

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