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HDFC Bank RD (Recurring Deposit) Interest Rates 2023

Updated on November 29, 2023 , 17013 views

With HDFC’s Recurring deposit scheme, one can now save money in regular installments and earn interest on payments.


A recurring deposit is an investment cum savings option for those who want to save regularly over a certain period of time and earn a higher interest rate. It is a type of term deposit which allows one to save a fixed amount of money every month systematically. If you are familiar with SIP in Mutual Funds, RD works similarly in banking. Every month, a fixed amount of money is deducted either from a savings or a current account. And, at the end of the maturity, investors are paid back their invested money with accrued interest.

A user willing to open an RD account with HDFC Bank can choose any amount and term according to your convenience.

HDFC Bank RD Interest Rates 2023

Period Interest Rate (p.a.) #Senior Citizen Rates (p.a.)
6 Months 4.50% 5.00%
9 Months 5.75% 6.25%
12 Months 6.50% 7.00%
15 Months 7.00% 7.50%
24 Months 7.00% 7.50%
27 Months 7.00% 7.50%
36 Months 7.00% 7.50%
39 Months 7.00% 7.50%
48 Months 7.00% 7.50%
60 Months 7.00% 7.50%
90 Months 7.00% 7.75%
120 Months 7.00% 7.50%

#Only Resident Senior Citizens are eligible for higher rates of interest.

Note: Interest rates are effective from Dec 14, 2022. They subject to periodic changes. The applicable interest rates will be given based on the date and time of Receipt of the funds by the bank.

RD Calculator

Monthly Deposit:
Rate of Interest (ROI):

Investment Amount:₹180,000

Interest Earned:₹21,001

Maturity Amount: ₹201,001

HDFC Bank RD Account Features

Some of the key features of recurring deposit offered by HDFC Bank are:

Investment & Tenure

  • A user can make a minimum amount of investment as small as INR 1000 (and in multiples of INR 100 thereafter). The maximum amount in the HDFC RD account is limited to INR 14,99,900 per month
  • A minimum tenure one can invest in HDFC RD account is of six months (and in multiples of three months thereafter) up to a maximum tenure of 10 years
  • The minimum tenure of an NRI customer is 12 months


  • HDFC recurring deposit account has a minimum lock-in period of one month
  • In the case one wants to close the account within a month, no interest shall be paid to the depositor and only the principal amount shall be returned


Tax Deducted at Source (TDS) on RD accounts (if applicable) will be recovered on recurring deposit interest if savings/current accounts linked to RD are not maintained (effective 4th Feb'2018)

Eligibility to Open HDFC RD Account

  • Resident individuals
  • Hindu Undivided Families
  • Private & Public Limited Companies
  • Trust & Societies

HDFC RD Calculator

A Recurring Deposit calculator is a good way of calculating maturity amount on RD. You can follow this method to estimate your RD amount on maturity.


RD Calculator INR
Monthly Deposit Amount 500
RD in month 60
Rate of Interest 7%
RD Maturity Amount INR 35,966
Interest Earned INR 5,966

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Documents Required to Open HDFC RD Account

1. Proof of Identity

  • Passport
  • PAN Card
  • Voter ID card
  • Government ID card
  • Driving licence
  • Senior citizen ID card
  • Photo ration card

2. Address Proof

  • Passport
  • Electricity bill
  • Telephone bill
  • Bank statement with Cheque
  • Certificate/ ID card issued by Post Office

Why Investing in SIP is Beneficial?

  • Systematic Investment plan (SIP) is a way to put your money in mutual funds. Investment can be done on a periodic Basis - daily, weekly, monthly or quarterly

  • You need to deposit a small amount of money at every interval. The minimum amount can be as low as INR 500

  • SIPs can help in all kinds of investment goals, whether short- or long –term, depending on the frequency of investment, funds chosen and other factors

  • SIPs offer flexible instalment plans of daily, weekly, monthly, quarterly etc

  • Returns can be earned better here. The longer you invest via a SIP in mutual funds, especially in an Equity Fund, the higher are the chances to earn good returns

  • To Cancel SIP, the investors can simply close their investment and withdraw their money without any penal charges

Best Performing SIPs to Invest 2023

Here's a list of best performing equity SIPs for an investment horizon of five years and above

FundNAVNet Assets (Cr)Min SIP Investment3 MO (%)6 MO (%)1 YR (%)3 YR (%)5 YR (%)2022 (%)
L&T Emerging Businesses Fund Growth ₹67.2916
↑ 0.34
₹11,552 500 8.429.339.439.122.51
Principal Emerging Bluechip Fund Growth ₹183.316
↑ 2.03
₹3,124 100 2.913.638.921.919.2
IDFC Infrastructure Fund Growth ₹34.994
↑ 0.17
₹762 100 9.525.936.736.119.41.7
Franklin Build India Fund Growth ₹100.724
↑ 0.80
₹1,558 500 1232.836.735.121.311.2
Aditya Birla Sun Life Small Cap Fund Growth ₹70.3201
↑ 0.52
₹4,580 1,000 5.824.23226.116-6.5
L&T India Value Fund Growth ₹81.2163
↑ 1.11
₹9,289 500 10.62730.827.118.65.2
Tata Equity PE Fund Growth ₹268.744
↑ 2.99
₹5,973 150 9.92124.121.915.75.9
Sundaram Rural and Consumption Fund Growth ₹78.8893
↑ 0.52
₹1,282 100 820.922.120.314.59.3
DSP BlackRock Equity Opportunities Fund Growth ₹456.093
↑ 3.99
₹8,850 500 7.420.92121.317.14.4
Invesco India Growth Opportunities Fund Growth ₹66.49
↑ 0.60
₹4,034 100 9.72120.819.815.3-0.4
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 1 Dec 23

All efforts have been made to ensure the information provided here is accurate. However, no guarantees are made regarding correctness of data. Please verify with scheme information document before making any investment.
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