HDFC Bank offers a range of recurring deposit rates to suit different investment needs.
For instance, HDFC Bank's RD rates start from 5.50% for a tenure of 1 year, making it a suitable option for short-term savings goals.
The bank also offers a higher interest rate of 6.20% for a 2-year tenure, which can help you earn more interest over time.
To open an HDFC Bank RD, you can visit their nearest branch or apply online through their mobile banking app.
For another approach, see: One - Mobile Banking
HDFC Bank Recurring Deposit Rates
HDFC Bank offers a range of recurring deposit rates for Resident and NRO/NRE customers.
The bank's rates vary depending on the tenure of the deposit. For a 6-month tenure, the interest rate is 4.50% per annum for the general public and 5.00% per annum for senior citizens.
For longer tenures, the rates increase accordingly. For example, a 12-month tenure earns 6.60% per annum for the general public and 7.10% per annum for senior citizens.
A different take: Public Saving Account
Here are some key tenures and their corresponding interest rates:
Benefits and Features
If you're considering opening an HDFC Bank Recurring Deposit account, you'll be happy to know that the minimum deposit amount is just Rs.1,000.
The interest rates offered by HDFC Bank RD are equivalent to fixed deposit rates, making it a solid investment option.
You can open an HDFC Bank RD account with a lock-in period of just 1 month from the date of opening of account.
Senior citizens get an additional interest rate, which is a great perk for those who want to save for their golden years.
The HDFC Bank RD account can be opened by resident Indians, Hindu Undivided Families (HUFs), private & public limited companies, and trust & societies.
To give you a better idea of the tenure options, here's a quick rundown:
Interest Rates and Comparison
HDFC Bank offers a range of interest rates for its recurring deposit accounts, making it a popular choice among investors.
For resident Indians, the highest interest rate offered by HDFC Bank is 7.50% p.a. on tenures ranging from 39 months to 60 months.
Short-term HDFC recurring deposit interest rates vary depending on the tenure. For the 6 months tenure, the interest rate offered is 4.50% p.a. for the general public and 5.00% p.a. for senior citizens.
The interest rates for HDFC Bank RD accounts are as follows:
The highest slab rate offered by HDFC Bank is 7.10% p.a. for a tenure of 1 year 3 months.
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