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HDFC Bank FD Calculator

HDFC Bank Fixed Deposit Calculator 2021

Last Updated 18th Jan 2021

HDFC Bank FDs have tenures ranging from 5 years 1 day to 10 years 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.
  • 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 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 5.50% for depositors below 60 years and 6.25% for senior citizens. The maturity amount for this deposit amount is ₹ 1,31,407 and the total interest earned is ₹ 31,407 for below 60 years age citizens. However, the interest earned for senior citizens is ₹ 36,354 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 5.50% for Citizens below 60 years and at 6.25% 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
2021 ₹ 5,614 ₹ 1,05,614 ₹ 6,398 ₹ 1,06,398
2022 ₹ 5,930 ₹ 1,11,544 ₹ 6,807 ₹ 1,13,205
2023 ₹ 6,263 ₹ 1,17,807 ₹ 7,243 ₹ 1,20,448
2024 ₹ 6,614 ₹ 1,24,421 ₹ 7,706 ₹ 1,28,154
2025 ₹ 6,986 ₹ 1,31,407 ₹ 8,199 ₹ 1,36,353

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 6.95%. Now applying the rule, just divide the number 72 by the rate of interest. So 72/6.95 = 10.36. 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.

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HDFC News - Jan 2021
  • 2021-01-18 : HDFC Bank net profit rose by 18%
    HDFC Bank net profit grew by 18% over a year ago in the December-ended quarter on the back of improved net interest income. Advances which include home, personal, car, two-wheeler and gold loans along with business and mudra loans during the quarter rose 15.6% year-on-year to Rs 10.82 lakh crore. Deposits which includes FD and RD grew by 19% from last year to Rs 12.7 lakh crore. Further, The CASA ratio for the bank stood at 43%.
  • 2021-01-08 : HDFC Bank posted a double-digit increase in deposits and advances
    HDFC Bank reported a double-digit increase in deposits and advances in the third quarter of the fiscal year. The bank advances which include home, personal, car, two-wheeler, gold and education loan along with business and mudra loans hiked by 16% to Rs 10.82-lakh crore as on December 31, 2020. Further, the bank’s deposits rose by 19% in the third quarter of the fiscal to Rs 12.71-lakh crore. The CASA ratio is reported at around 43% as of December 31, 2020.
  • 2020-10-07 : HDFC Bank net profit jumps 18.4% to ₹7,513 crores
    HDFC Bank reported an 18.4% increase in its net profit to ₹7,513 crores for the quarter ended in September 2020. The profit in the year-ago period was at ₹6,345 crores. The bank’s total advances were at ₹10.38 lakh crore in Q2 of FY21, an increase of 15.8% over the same period last year. The domestic retail loans which include retail loans like home, personal, car, two-wheeler, gold and education loan grew by 5.3% and domestic wholesale loans including the business and mudra loan grew by 26.5%. Further, total deposits which include FD and RD reported an increase of 20.3% (YoY) to ₹1,325,072 crore. HDFC bank CASA ratio stood at around 42% as of September 202O.
  • 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.
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More
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