HDFC Bank Recurring Deposit (RD) Rates

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08 min read.

HDFC Bank offers various deposit schemes, including fixed deposits and recurring deposits, to its customers. A recurring deposit (RD) account allows you to deposit your savings into the account in regular intervals and provides an attractive interest rate on the account balance over a specified period.

Here is all you need to know about HDFC Bank RD schemes.

Recurring Deposit Interest Rates 2021 of HDFC Bank

RD TenureInterest Rate for Regular Customers (% p.a.)*Interest Rate for Senior Citizens (% p.a.)*Interest Rate for NRIs (% p.a.)*Effective From
6 Months3.504N.A.Aug 25, 2020
9 Months4.404.90N.A.Aug 25, 2020
12 Months4.905.404.90Oct 15, 2020
15 Months4.905.404.90Nov 13, 2020
24 Months4.905.404.90Nov 13, 2020
27 Months5.155.655.15Aug 25, 2020
36 Months5.155.655.15Aug 25, 2020
39 Months5.305.805.30Aug 25, 2020
48 Months5.305.805.30Aug 25, 2020
60 Months5.305.805.30Aug 25, 2020
90 Months5.5065.50Aug 25, 2020
120 Months5.5065.50Aug 25, 2020

*Interest rates are subject to change from time to time.

Different Types of HDFC Bank RD Schemes

Recurring Deposit


This is a regular RD scheme where you designate a sum to be paid to the account every month for a pre-specified number of months. In addition to capital security, you can earn a reasonable interest rate on the deposit. 

The minimum sum you can deposit per month is Rs.1,000 and in multiples of Rs.100 thereafter. The maturity amount will be the sum of the principal invested and the interest.

My Passion Fund


This is a flexible recurring deposit scheme where the deposit amount and frequency of your monthly deposit payments can be set at your convenience. The scheme allows you to name your deposit after the passion you are saving up for.

You can deposit money in the account up to three times per month and the maximum top-up allowed can be twice the instalment amount. 

The minimum top-up value is Rs.1,000 per month. SI failure charges will not be levied. The minimum investment sum is Rs.1,000 per month, and the minimum tenure is six months.

HDFC Bank RD Special Features and Benefits

  • Invest a sum convenient for you, ranging from Rs.1,000 up to Rs.1,99,99,900 per month.
  • The minimum tenure to open an RD account is six months and in multiples of three months thereafter.
  • The maximum tenure for an RD account is 10 years.
  • The minimum lock-in period for RD accounts is one month.
  • Get interest rates equivalent to that of a regular FD account with a much smaller investment per month.
  • The interest is calculated from the date of receiving the instalment.
  • The bank uses the Actual/Actual Quarterly Compounding method to calculate interest.
  • A nomination facility is available.
  • Premature withdrawal charges may/may not be applicable based on the scheme.

Basic Eligibility Criteria for HDFC Bank RD

  • Resident individuals
  • Hindu Undivided Families (HUF)
  • Private and Public Limited Companies
  • Trust and Societies

Tax Benefits on HDFC Bank Recurring Deposit

Tax will be deducted at source (TDS) when the interest earned on FDs and RDs throughout a financial year across all the branches of the bank exceeds Rs.40,000 (Rs.50,000 for senior citizens). 

TDS will be recovered from the current/savings account linked with the RD account. In case the existing/savings account is not maintained, the TDS will be retrieved from the RD interest earned.

You can submit Form 15G//15H to the bank requesting not to deduct tax at source if your annual income does not exceed the basic exemption limit.

RD Interest Rate Calculator

Visit our free RD calculator page to know how much returns you can expect by investing in RD over a period.

Frequently Asked Questions

Does the RD features remain the same for domestic and NRI account holders?

No, the RD features may vary between domestic and NRI account holders, such as the interest rate, the minimum deposit tenure, and others. Note that a separate set of interest rates are offered for NRI customers. Similarly, the minimum tenure for NRIs is 12 months, whereas it is six months for domestic customers.

Can I get access to the interest accrued regularly?

Unlike FDs, the interest accrued on RD is paid only on account maturity.

What happens to the maturity amount in case I have not paid an instalment, and the maturity date has arrived?

The deposit will be deemed due for repayment and shall mature on the completion of the agreed-upon tenure. This stays valid even if one or more instalments are yet to be paid. In such cases, the maturity amount mentioned in the RD advice slip may vary based on the amount that is paid on time.

Does defaulting on my instalments affect the account?

If you default on your instalments are observed regularly, or if a minimum of six instalments falls in arrears, the bank reserves the right to close the RD account. The interest rate applicable to such accounts is similar to those of the bank’s premature withdrawal policy.

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