Savings Calculators
HDFC RD Calculator
HDFC Bank, India's largest private-sector bank, offers recurring deposits that let you set aside a fixed amount each month and earn a guaranteed return at rates linked to its fixed-deposit card. HDFC RDs run from 6 months to 10 years, and deposits are insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC) up to ₹5 lakh per depositor. Use this HDFC RD calculator to estimate your maturity value and interest earned — enter your monthly deposit, an indicative interest rate and tenure to see your returns with quarterly compounding.
- Invested
- ₹3,00,000
- Interest Earned
- ₹59,664
Maturity Value
₹3,59,664
- Invested83%
- Interest Earned17%
Formula
M = R × [((1 + i)ⁿ − 1) ÷ i] × (1 + i), where i = (1 + r/4)^(1/3) − 1
- R
- Fixed monthly deposit paid into the HDFC RD.
- i
- Effective monthly rate derived from the quarterly rate r/4.
- n
- Total number of monthly deposits (years × 12).
HDFC Bank takes a monthly deposit but compounds interest quarterly, so the quarterly rate is converted to an equivalent monthly rate. The rate shown is indicative — confirm the live RD rate on HDFC Bank's website, as it tracks the FD card and varies by tenure. The figure is gross of TDS.
Worked example
Suppose you deposit ₹5,000 every month into an HDFC Bank recurring deposit at an indicative rate of 7.00% per annum for 5 years (60 deposits), with quarterly compounding.
- Monthly Deposit (R)
- ₹5,000
- Interest Rate (p.a.)
- 7.00% (indicative)
- Tenure
- 5 years (60 months)
You deposit ₹3,00,000 in total. The HDFC RD matures to about ₹3,59,664 — meaning roughly ₹59,664 of interest on top of your deposits. Because earlier deposits compound for longer, they add the most interest.
Year-by-year growth
Based on the default HDFC RD Calculator values above. The final year matches the maturity value shown by the calculator — change the inputs to project your own plan.
- Total invested
- ₹3,00,000
- Interest earned
- ₹59,664
- Maturity value
- ₹3,59,664
- Value / invested
- 1.20×
Over 5 years, your ₹3,00,000 grows to about ₹3,59,664 — roughly 1.20× what you put in, thanks to compounding.
| Year | Invested | Interest earned | Maturity value |
|---|---|---|---|
| 1 | ₹60,000 | ₹2,311 | ₹62,311 |
| 2 | ₹1,20,000 | ₹9,099 | ₹1.29 Lakh |
| 3 | ₹1,80,000 | ₹20,686 | ₹2.01 Lakh |
| 4 | ₹2,40,000 | ₹37,418 | ₹2.77 Lakh |
| 5 | ₹3,00,000 | ₹59,664 | ₹3.60 Lakh |
How this HDFC RD calculator works
Move the monthly deposit, interest rate and tenure sliders to see your HDFC RD maturity value and interest earned update in real time, with a breakdown of deposits versus interest. The rate starts at an illustrative 7.00% — set it to the rate HDFC Bank quotes for your tenure. The calculator converts the quarterly rate to an effective monthly rate, so each deposit earns exactly the interest it should for the months remaining.
Why an HDFC recurring deposit
An HDFC RD suits salaried savers who want FD-grade safety but prefer to save in monthly instalments rather than a single lumpsum. The return is locked in at booking, the maturity amount is predictable, and DICGC cover protects deposits up to ₹5 lakh. For money you already hold, an HDFC FD may suit better; for long-term, growth-oriented goals, a market-linked SIP is worth comparing.
Tips for HDFC RD savers
- Set the instalment at a level you can sustain for the whole tenure to avoid default penalties.
- Use NetBanking auto-debit so the deposit happens on time every month.
- Match the tenure to your goal — the maturity date should line up with when you actually need the money.
- Check the senior-citizen rate if eligible, as it lifts the maturity value.
- Account for TDS on the interest when you set your target corpus.
faq
Frequently asked questions.
What is the minimum HDFC RD amount and tenure?
HDFC Bank recurring deposits start from ₹1,000 per month (in multiples of ₹100) and run for tenures from 6 months up to 10 years. The monthly instalment is fixed for the chosen tenure. Use the sliders to see how the amount and tenure change your maturity value.
Are HDFC RD rates the same as its FD rates?
HDFC Bank generally aligns its recurring-deposit rates with its fixed-deposit rate card for the matching tenure, and senior citizens usually receive an additional rate. Always confirm the current rate for your tenure on the bank's website before booking.
What happens if I miss an HDFC RD instalment?
A missed monthly deposit attracts a small penalty per defaulted instalment, and several consecutive defaults can lead the bank to close the account prematurely. Automating the debit from your HDFC savings account avoids this.
Is HDFC RD interest taxable?
Yes. RD interest is taxable as income, and HDFC Bank deducts TDS at 10% once your total deposit interest crosses the annual threshold. The maturity value shown is before tax; file Form 15G/15H if your income is below the exemption limit.
Can I close an HDFC RD before maturity?
Yes, premature closure is allowed but the interest is recalculated at the rate applicable for the period the deposit actually ran, less a penalty, so you earn less than the booked rate. A loan against the RD is an alternative if you only need temporary liquidity.