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HDFC FD Calculator

HDFC Fixed Deposit Calculator

Last Updated 04th Jan 2022

HDFC FDs have tenures ranging from 99 months to 99 months with maximum rate of interest of 6.65%. Interest rates for senior citizens are higher than the normal rates and ranges upto 6.50%.

Tenure Interest Rate for General Public Interest Rate for Senior Citizens Max Maturity Amount per Lakh
33 months 6.20% 6.00% ₹ 1,18,435 - ₹ 1,17,795
66 months 6.60% 6.45% ₹ 1,43,338 - ₹ 1,42,180
99 months 6.65% 6.50% ₹ 1,72,308 - ₹ 1,70,223
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HDFC Fixed Deposit Calculator

HDFC fixed deposit calculator helps you calculate maturity value of your deposited amount at the interest rate which is compounded quarterly. The amount of fixed deposits, interest rates on FD, deposit tenure and compounding frequency of interest together determine the maturity amount of the FD at the end of the tenure.

  • Deposit amount – This is the initial amount deposited by a customer in HDFC. Banks may allow a higher interest rate on larger deposits. HDFC offers a deposit amount in the range of Rs. 1,000 to No Limit.
  • Rate of Interest - Interest rate is the rate charged by the bank on your fixed deposit. HDFC offers a higher rate of interest on fixed deposits of longer tenure and lower interest rate on deposits of less than a year. Highest interest rate offered by HDFC is 6.65% for deposit amount below Rs. 2 crore corresponding to a deposit tenure of 99 months to 99 months.
  • Period of deposit - Bank offers low interest rate for short tenure FDs and higher interest rate for long tenure FDs. Bank offers a rate of 6.20% for a 99 months FD and a rate of 6.65% for a 99 months FD.
  • Interest Compounding Frequency - This determines the frequency at which interest is compounded. Compounding frequency can be monthly, quarterly, half yearly or annual frequency.
  • TDS applicability and TDS rate - A TDS of 10% of interest amount is applicable if you earn more than Rs 40,000 in a year from FD, which is called FD income. If you do not submit the PAN Card to the bank then TDS rate will be 20% of interest amount.
    • Illustration: Mr. A opens a FD account of ₹ 1,00,000 with a tenure of 990 days at an interest rate of 6.20%. In this case, the maturity amount at the end of 990 days will be ₹ 1,00,671 which includes the principal of ₹ 1,00,000 and interest of ₹ 671 is earned on the principal amount during the period. Similarly, you can calculate the interest and maturity amount for higher tenures by using FD calculators.

      HDFC calculates quarterly interest on its fixed deposits. You can also opt for a tax saving scheme to save tax on fixed deposit.

How to Use MyLoanCare FD Calculator

Here is a simple procedure to use MyLoanCare FD calculator:-

  • Go to the FD Calculator.
  • Fill the fields like Deposit Amount, Rate of Interest, Period of Deposit (In years or months), Interest compound frequency.
  • Click Calculate.
  • Result will be shown, which will consist of total maturity amount and total interest earned

HDFC Fixed Deposit Interest Rate Calculator – Interest Payment Options

  • Non Cumulative- In a periodic interest payout option, HDFC would transfer the interest earned at each interval (say, quarterly) to your bank account. The interest would remain the same across the life of the deposit. On maturity, unless the deposit is renewed, would transfer the principal amount to your bank account.
  • Cumulative- In case you opt for a HDFC cumulative deposit on maturity you would get a credit for the principal and interest earned net of TDS.

How is HDFC FD Rate Calculated?

HDFC calculates fd interest in two ways, one is cumulative and non-cumulative as discussed above. It is a decision made by you whether you want interest payout at the end of the tenure or monthly, quarterly, half-yearly or yearly. To earn more money you can go for a cumulative method because interest earned throughout the tenure is added to the principal amount and is compounded then. However, if you are looking for monthly income or so then you can go for non-cumulative.

HDFC FD Maturity Calculation for 5 Year

The interest earned on a fixed deposit in HDFC depends on the deposit amount, interest applicable, deposit tenure and the type of interest calculation frequency. Interest on HDFC FD can be calculated monthly, quarterly, half-yearly and annually.

Let’s understand how much interest you will earn if you invest ₹ 1,00,000 in HDFC FD for a 5-year tenure at an interest rate of 6.65% for depositors below 60 years and 6.50% for senior citizens.The maturity schedule of HDFC FD for 5 years is explained below in the table –

Maturity Schedule for ₹ 1,00,000 FD at 6.65% for Citizens below 60 years and at 6.50% for Senior Citizens for 5 years

Year Citizens below 60 Years of Age Senior Citizens above 60 Years
Interest Earned Closing Balance Interest Earned Closing Balance
2022 ₹ 6,818 ₹ 1,06,818 ₹ 6,660 ₹ 1,06,660
2023 ₹ 7,283 ₹ 1,14,101 ₹ 7,104 ₹ 1,13,764
2024 ₹ 7,779 ₹ 1,21,880 ₹ 7,577 ₹ 1,21,341
2025 ₹ 8,309 ₹ 1,30,189 ₹ 8,082 ₹ 1,29,423
2026 ₹ 8,876 ₹ 1,39,065 ₹ 8,620 ₹ 1,38,043

HDFC FD Calculator Formula

Along with an online FD Calculator, you can use the formula to do the mathematical calculation of the maturity amount and interest earned on HDFC FD.

A = P (1 + r/n) ^ n*t
In the above formula –

  • A - Amount received on maturity
  • P - Deposit amount
  • r - Annual interest rate
  • n - Number of times the interest is compounded
  • t is Investment tenure

Other Investment Calculators


What is the highest interest earned on HDFC fixed deposit?

You can earn a maximum interest of 6.65% on HDFC fixed deposits.

How many years FD will double in HDFC?

The growth of HDFC FD depends on the rate of interest and tenure. There is a method called Rule 72, which computes the number of years it will take to double one’s amount invested in HDFC FD.You can also use HDFC fd calculator to calculate the maturity amount. Now to apply the rule, one needs the rate of interest we get on FD. Let’s say the interest offered on FD is 7.05%. Now applying the rule, just divide the number 72 by the rate of interest. So 72/7.05 = 10.21. So it will take a little more than 14 years for one’s investment to get doubled in HDFC.

What are the minimum and maximum amounts that I can invest in an HDFC FD?

The minimum investment limit in HDFC Fixed deposit account is ₹ 1,000 and there is no maximum investment limit on FD.

Can I withdraw my premature FD from HDFC?

Yes, you can withdraw your premature FD amount if you want money before the tenure ends. However, you might have to pay a penalty fee ranging from 4% on deposits upto 6 months and 1% for deposits above 6 months of FD amount for premature withdrawal.

How can I calculate HDFC premature FD amount?

To calculate premature FD amount you can use HDFC bank fd calculator. All you have to put is the value of the invested amount, tenure, interest rate and premature penalty rate (if any).

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HDFC News - Jan 2022
  • 2021-06-30 : HDFC Bank has extended senior citizen special FD scheme till September 2021
    Amid the Covid pandemic last year, SBI, HDFC, ICICI and Bank of Baroda had introduced special FD schemes for senior citizens for the tenure of 5 years and more. These special fixed deposit (FD) schemes for senior citizens have been extended till 30 September 2021.
  • 2020-10-23 : HDFC Limited changed its fixed deposits rates
    HDFC has revised its fixed deposit rate with effect from 22 October 2020. The revised rate for 33 months stands at 5.85% and for 66 months it stands at 6.25%.In addition to this, for senior citizens, the rates vary by an additional 25 basis points.
  • 2020-05-21 : HDFC Bank introduced Senior Citizen Care FD
    HDFC launched Senior Citizen Care FD to assist the senior citizens amid reduced interest rate regime due to the economic crisis. The interest rate applicable to the fixed deposit will be 6.50 per cent which is 75 bps above the rate applicable to the general customers.
  • 2020-04-22 : HDFC Limited revised its fixed deposits rates
    HDFC has revised its fixed deposit rate with effect from 15 April 2020. The revised rate for both 33 months and 66 months stands at 7.30%.In addition to this, for senior citizens, the rates vary by an additional 25 basis points and stand at 7.55%.
  • 2019-12-30 : HDFC Limited cuts its fixed deposits rates
    HDFC has revised its fixed deposit rates on December 24, 2019. The revised rate for both 33 months and 66 months stands at 7.50%.For senior citizens the rates vary by an additional 25 basis points, and stand at 7.75%.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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