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HDFC Bank FD Calculator

HDFC Bank Fixed Deposit Calculator 2020

Last Updated 15th Oct 2020

HDFC Bank FDs have tenures ranging from 5 years 1 day to 10 years 9 days with maximum rate of interest of 5.50%. Interest rates for senior citizens are higher than the normal rates and ranges upto 6.25%.

Tenure Rates Maturity Amount for ₹ 1 Lakh
7 days to 14 days 2.50% to 3.00% ₹ 1,00,048 - ₹ 1,00,115
15 days to 29 days 2.50% to 3.00% ₹ 1,00,103 - ₹ 1,00,238
30 days to 90 days 3.00% to 3.50% ₹ 1,00,247 - ₹ 1,00,863
91 days to 6 months 3.50% to 4.00% ₹ 1,00,873 - ₹ 1,02,010
HDFC Bank FD Maturity Calculator
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HDFC Bank Fixed Deposit Calculator

HDFC Bank fixed deposit calculator helps you to calculate maturity value of your deposited amount at the interest rate offered compounded at 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 Bank. Bank may allow higher interest rate on larger deposits. HDFC Bank offers deposit amount in the range of 1,000 to No Limit.
  • Rate of Interest - Interest rate is the rate charged by the bank on your fixed deposit. HDFC Bank 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 Bank is 5.50% for deposit amount below Rs. 1 crore corresponding to a deposit tenure of 5 years 1 day to 10 years 9 days.
  • 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 2.50% for a 5 years 1 day FD and a rate of 5.50% for a 10 years 9 days 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
    • Illustration: Mr. A opens a FD account of ₹ 1,00,000 with a tenure of 7 days at an interest rate of 2.50%. In this case, the maturity amount at the end of 7 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 Bank calculates quarterly interest on its fixed deposits. You can also opt for tax saving scheme to save tax on fixed deposit.

HDFC Bank Fixed Deposit Interest Calculator – Interest Payment Options

  • In a periodic interest payout option, HDFC Bank 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.
  • In case you opt for a HDFC Bank cumulative deposit, on maturity you would get a credit for the principal and interest earned net of TDS.
  • Calculate the FD maturity amount using the FD calculator.

FD Maturity Calculator

The interest earned on a fixed deposit in HDFC Bank depends on the deposit amount, interest applicable, deposit tenure and the type of interest calculation frequency. Interest on HDFC Bank FD can be calculated monthly, quarterly, half-yearly and annually. The interest rates for senior citizens are higher than normal rates of HDFC Bank FD.

Suppose if you make an investment of ₹ 1,00,000 in HDFC Bank FD for a 5-year tenure at an interest rate of % for depositors below 60 years and % for senior citizens. The maturity amount for this deposit amount is ₹ 1,00,000 and the total interest earned is ₹ 0 for below 60 years age citizens. However, the interest earned for senior citizens is ₹ 0 which is higher. The maturity schedule of HDFC Bank FD for 5 years is explained below in the table –

Maturity Schedule for ₹ 1,00,000 FD at % for Citizens below 60 years and at % 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
2020 ₹ 0 ₹ 1,00,000 ₹ 0 ₹ 1,00,000
2021 ₹ 0 ₹ 1,00,000 ₹ 0 ₹ 1,00,000
2022 ₹ 0 ₹ 1,00,000 ₹ 0 ₹ 1,00,000
2023 ₹ 0 ₹ 1,00,000 ₹ 0 ₹ 1,00,000
2024 ₹ 0 ₹ 1,00,000 ₹ 0 ₹ 1,00,000
2025 ₹ 0 ₹ 1,00,000 ₹ 0 ₹ 1,00,000

HDFC Bank FD Calculator Formula

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

FAQs

What is the highest interest earned on HDFC Bank fixed deposit?

You can earn a maximum interest of 5.50% on HDFC Bank fixed deposit.

How is HDFC Bank FD interest calculated?

The formula to calculate interest on HDFC Bank FD is
A = P(1+r/n)^nt
Here: A = Maturity amount
P = Invested amount
r = Interest rate as decimal
n = number of times interest is compunded
t = tenure of deposit
However, you can use online FD calculator to estimate the value of interest earned on the deposited amount.

How many years FD will double in HDFC Bank?

The growth of HDFC Bank 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 Bank FD. Now to apply the rule, one needs the rate of interest we get on FD. Let’s say the interest offered on FD is 7.35%. Now applying the rule, just divide the number 72 by the rate of interest. So 72/7.35 = 9.80. So it will take a little more than 14 years for one’s investment to get doubled in HDFC Bank.

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

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


HDFC News - Oct 2020
  • 2020-08-27 : HDFC Bank revised its FD rates
    With effect from 25 August 2020, HDFC Bank revised its FD rates. The FD rates for 7 to 29 days is 2.50%, and it is 3% for 30 to 90 days. The fixed deposit rates for 91 days to six months is 3.50%, for six months one day to one year is 4.40%. Further, the FD rate for one year one day to two years is 5.10%, and it is 5.15% for two years one day to three years. FD rates for three years one day to ten years stands at 5.30%.
  • 2020-04-21 : HDFC Bank changed its fixed deposit rates
    With effect from 22 April 2020, HDFC Bank revised its FD rates. The FD rates 7 to 14 days is 3%, for 15 to 29 days it is 3.50%, and it is 4.25% for 30 to 45 days. The fixed deposit rates for 46 days to six months is 4.75%, for six months one day to nine months it is 5.25%, and for nine months one day to less than one year, it is 5.50%. Further, the FD rate for one year to two years is 5.80%, and it is 6% for two years and one day to ten years.
  • 2020-04-06 : HDFC Bank reports 24% rise in deposits and 21% rise in advances
    HDFC Bank registered a growth of 24% in its deposits for January to March quarter. The deposit aggregated to Rs. 11.46 lakh crores on 31st March 2020 as compared to Rs. 9.23 lakh crore on 31st March, 2019. In addition, the advances aggregated to Rs. 9.93 lakh crore on 31st March 2020, as compared to Rs. 8.19 lakh crore on 31st March 2019.
  • 2020-03-18 : HDFC Bank changed its fixed deposit rates
    With effect from 18 March 2020, HDFC Bank revised its FD rates. The FD rates 7 to 14 days is 3.50%, for 15 to 49 days it is 4% and it is 4.75% 30 to 45 days. The fixed deposit rates for 46 days to six months is 5.25%, for six months one day to nine months is 5.65% and for nine months one day to less than one year is 5.90%. Further, the FD rate for one year to two years is 6.15%, it is 6.25% two years one day to three years and stands at 6.15% for three years one day to ten years.
  • 2019-11-18 : HDFC Bank cuts Fixed Deposit rates
    HDFC Bank has revised interest rates on fixed deposits. For 6 months 1 day to 9 months, the new rates stand at 5.80% from 6% earlier. For 1 year FD, the rates are revised to 6.30% from 6.45%. For long term deposits, the rates for 3 years and above are slashed to 6.30%. The new rates are effective from November 16, 2019.
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