Table of Contents
Which is best RD or FD in HDFC?
A Recurring Deposit is advisable for investors who wish to save a fixed amount of money each month, while Fixed Deposits are advisable for those have a lumpsum amount they wish to invest immediately. You can use HDFC Bank’s online calculators to determine the maturity value of either of your deposits.
What is the RD interest in HDFC?
3.50% to 6% per annum
Usually, RD interest rates in HDFC range from 3.50% to 6% per annum. One can open an HDFC recurring deposit account with a minimum deposit of Rs….HDFC RD Interest Rates 2022.
| Tenure | RD Rates for General Citizens | RD Rates for Senior Citizens |
|---|---|---|
| 39 months | 5.35% | 5.85% |
| 48 months | 5.35% | 5.85% |
| 60 months | 5.30% | 5.80% |
| 90 months | 5.50% | 6.00% |
What is special deposit scheme in HDFC?
“An additional premium of 0.25% (over and above the existing premium of 0.50%) shall be given to Senior Citizens who wish to book the Fixed Deposit less than 5 crores for a tenure of 5 (five) years One Day to 10 Years, during special deposit offer commencing from 18th May’20 to 30th Sep’2022,” HDFC Bank noted on its …
What is the minimum tenure for RD in HDFC Bank?
6 months
A minimum tenure of 6 months (and in multiples of 3 months thereafter) up to a maximum tenure of 10 years. For NRI customers, the minimum tenure of RD is 12 months. For a much smaller investment per month, get interest rates equal to that of regular Fixed Deposits.
Is HDFC RD tax free?
TDS (Tax Deducted at Source) is applicable on Recurring Deposits. It is deducted at 10% on the interest earned which exceeds Rs. 40,000( Rs. 50000 for senior citizens).
What is HDFC Monthly income Plan?
HDFC Monthly Income Plan – LTP is a balanced debt-oriented fund that is aggressive in nature. In order to invest in this fund, investors can put in Rs. 5,000, followed by Rs. 500.
Which is good FD or RD?
When returns in FD or RD are compared, then FD seems to give higher returns. The reason is that in RD, the account holder deposits monthly and therefore, the interest is also earned accordingly. Usually, the FD amount is deposited once, and is a lump sum that earns a higher interest rate.
What is the best investment for Rs 10 lakhs?
Index Funds are a great first investment.
Can I withdraw RD before maturity?
Withdrawals: A Recurring Deposit is like a Fixed Deposit. Once the RD amount has been deposited, it cannot be withdrawn until maturity. Partial withdrawals from the account are not allowed.
How many years FD will double in HDFC?
We have to divide 72 by the interest rate, and the result will be the number of years HDFC Bank FD will double. For example, for a tenure of 10 years, the HDFC FD interest rate is 5.5%. An investor can double the investment amount by investing for this tenure in HDFC FD in 13.09 years (72/5.5).
What are the benefits of HDFC recurring deposit?
You can get an interest rate ranging from 6.25% to 7.40% on the deposited amount. Senior citizens can get an 0.50% additional interest rate on the deposit. HDFC recurring deposit also lets you enjoy additional benefits like grace facility of 5 days, no TDS (Tax Deductible at Source) on the interest rate, and so on.
What is the minimum amount required to deposit in HDFC Rd?
Min: Rs.1,000 per month (for any higher amount, deposit in multiples of Rs.100) Max: 14,99,900 per month 5 days grace period facility provided by the HDFC bank for RD. Interest is paid of maturity. You cannot alter the instalment amount once it has been fixed. Payment of a single instalment cannot be divided in parts.
What is the grace period for Rd in HDFC Bank?
5 days grace period facility provided by the HDFC bank for RD. Interest is paid of maturity. You cannot alter the instalment amount once it has been fixed. Payment of a single instalment cannot be divided in parts. The minimum lock-in period of an RD is one month. No interest will be offered in case of closing the RD within a period of a month.
What is the maturity amount of an FD/Rd?
Please refer the FD/ RD advice to get the exact maturity amount An investment as small as Rs. 1000 (and in multiples of Rs. 100 there after) or as large as Rs. 1,99,99,900 per month A minimum tenure of 6 months (and in multiples of 3 months thereafter) up to a maximum tenure of 10 years.