Hdfc Rd Rate Calculator

Calculate your Recurring Deposit maturity amount and interest earnings

HDFC RD tenure ranges from 6 months to 120 months.

Total Investment ₹ 60,000

Interest Earned ₹ 2,306

Maturity Amount ₹ 62,306

How the HDFC RD Rate Calculator Works

A Recurring Deposit (RD) is a popular investment tool provided by HDFC Bank that allows individuals to save a fixed amount every month while earning a competitive interest rate. Unlike a Fixed Deposit where you invest a lump sum, an RD helps in disciplined monthly savings.

The Calculation Logic

HDFC Bank calculates RD interest based on quarterly compounding. The formula used for calculating the maturity value of a Recurring Deposit is:

M = P * [(1 + i)^n – 1] / [1 – (1 + i)^(-1/3)]

• M: Maturity Value
• P: Monthly Installment (e.g., ₹5,000)
• n: Number of Quarters (Tenure in months divided by 3)
• i: Annual Interest Rate / 400

Current HDFC RD Interest Rates (Approximate)

HDFC RD rates vary depending on the tenure and the category of the depositor. Generally:

Tenure	General Public Rate	Senior Citizen Rate
6 Months	4.50% – 5.75%	5.00% – 6.25%
12 Months	6.60% – 7.10%	7.10% – 7.60%
24 Months to 60 Months	7.00% – 7.20%	7.50% – 7.75%

Key Features of HDFC RD

1. Flexible Tenure: You can choose a tenure ranging from a minimum of 6 months to a maximum of 10 years (120 months).
2. Minimum Deposit: Start your investment with as little as ₹1,000 per month.
3. TDS Applicability: Interest earned on RD is subject to Tax Deducted at Source (TDS) if the total interest across all your HDFC branches exceeds ₹40,000 (₹50,000 for senior citizens) in a financial year.
4. Premature Withdrawal: HDFC allows premature closure of RD, but it usually attracts a penalty of 1% on the applicable interest rate.

Example Calculation

If you deposit ₹10,000 per month for a tenure of 24 months at an interest rate of 7.10%:

• Total Principal Invested: ₹2,40,000
• Interest Accrued: ₹18,452
• Maturity Amount: ₹2,58,452

function calculateHdfcRD() { var P = parseFloat(document.getElementById('monthlyDeposit').value); var r = parseFloat(document.getElementById('rdRate').value); var months = parseInt(document.getElementById('rdTenure').value); if (isNaN(P) || isNaN(r) || isNaN(months) || P <= 0 || r <= 0 || months <= 0) { alert("Please enter valid positive numbers for all fields."); return; } // HDFC uses Quarterly Compounding for RD calculations // Formula: M = P * [(1 + i)^n – 1] / [1 – (1 + i)^(-1/3)] // i = annual rate / 400 // n = total number of quarters = months / 3 var i = r / 400; var n = months / 3; var numerator = Math.pow(1 + i, n) – 1; var denominator = 1 – Math.pow(1 + i, -1/3); var maturityValue = P * (numerator / denominator); var totalInvestment = P * months; var totalInterest = maturityValue – totalInvestment; // Display Results document.getElementById('totalInvested').innerHTML = "₹ " + totalInvestment.toLocaleString('en-IN', {maximumFractionDigits: 0}); document.getElementById('interestEarned').innerHTML = "₹ " + totalInterest.toLocaleString('en-IN', {maximumFractionDigits: 0}); document.getElementById('maturityAmount').innerHTML = "₹ " + maturityValue.toLocaleString('en-IN', {maximumFractionDigits: 0}); } // Initialize on load window.onload = function() { calculateHdfcRD(); };