A Recurring Deposit (RD) is one of the best ways to make small, regular contributions while earning guaranteed income with the complete safety of your deposited capital. As India's largest private sector bank, HDFC Bank is an ideal choice for growing your wealth through recurring deposits.

Scroll below to explore HDFC Bank RD interest rates, how they are calculated, along with features, eligibility, and much more to help you make an informed decision.

HDFC Bank Recurring Deposit Scheme Highlights for 2025

Here are the main highlights of recurring deposits of HDFC Bank:

HDFC Bank RD Interest Rate 2025

Here are the applicable HDFC Bank RD interest rates for regular and senior citizens for 2025:

Types of HDFC Bank RD Accounts

Here are the different types of RD accounts available at HDFC Bank:

Recurring Deposits

• Allows investments between Rs. 500 and Rs. 2.99 crores per month 
• Tenure between 6 months and 10 years
• Lock-in period of 1 month, no interest for withdrawals within this period 
• Up to 6 defaults in monthly instalments allowed over the tenure
• Nomination facility available 

NRO Recurring Deposits

• Investments allowed between Rs. 1000 and Rs. 2.99 Crores per month
• Tenure between 6 months and 10 years 
• 1-month lock-in period
• Nomination and joint account facilities available 
• Up to 6 defaults in monthly instalments allowed

NRE Recurring Deposits  

• Deposits between Rs. 1000 and Rs. 2.99 Crores per month
• Tenure between 1 year and 10 years 
• Lock-in period of 1 year, within which no interest is payable
• 5-day grace period after instalment due date
• Nomination, joint account and repatriation facilities 

My Passion Fund

• Flexible RD allowing deposits of up to 3 instalments per month
• Deposit amounts between Rs. 1000 and Rs. 14,99,990 per month
• Minimum top-up instalment of Rs. 1000 and maximum top-up of up to twice the instalment amount 
• Same as the prevailing HDFC Bank recurring deposit interest rates
• Tenure between 6 months and 10 years 
• No premature withdrawal penalty

Features of HDFC Bank RD 

Here are the most important features and benefits of HDFC Bank’s recurring deposits:

• Flexibility in Deposit Amounts: With HDFC Bank, you can get started with an amount as low as Rs. 500 per month and in multiples of Rs. 100 thereafter. The bank also offers bulk recurring deposits of up to Rs. 2.99 crores per month. 
• Attractive Interest Rates: HDFC Bank offers competitive interest rates up to 7.25% p.a. for regular depositors and 7.75% p.a. for senior citizens. HDFC Bank RD interest rates are compounded quarterly and payable at maturity. The rates are the same as fixed deposits, allowing you to maximise savings on minimum amounts.
• Long Tenures: As an investor, you can choose any tenure to earn interest from the RD. The minimum tenure is 6 months and multiples of 3 months thereafter, while the maximum tenure is 10 years. For NRE deposits, the minimum tenure is 12 months. 
• Nominal Lock-in Period: HDFC recurring deposits have a minimum lock-in period of one month. If you make a withdrawal after this period, you can get interest income subject to a premature withdrawal penalty. 
• Overdue Instalments: If you have multiple due instalments (up to 6), the bank will automatically deduct your due payments if you have sufficient balance in your linked account. This ensures you stay on track of your financial goals. However, if you make too many defaults, the bank may close your account. 

How to Calculate HDFC Bank RD Interest Rate?

The quarter compound interest formula is used to calculate the RD interest from HDFC Bank. Compound interest refers to interest payable on the principal amount increased by the accumulation of interest generated in each quarter (for recurring deposits). Here’s the formula to calculate the maturity amount for an RD:

M = R * [(1 + i)^(n - 1)] / (1 - (1 + i)^(-1/3))

Where, M = maturity amount,

 P = monthly instalment

n = number of quarters,

 i = rate of interest/400

To calculate the interest income, we must deduct the total principal amount (from all instalments) from the maturity amount. 

Here’s an example to understand the manual calculation of HDFC Bank RD interest rate:

A senior citizen opens an HDFC Bank recurring deposit with Rs. 8500 per month for 36 months. After checking the interest rate table, the applicable rate is 7.5% p.a.

M = R * [(1 + i)^(n - 1)] / (1 - (1 + i)^(-1/3))

= 8500 x [(1+ 7.5) ^ (4-1)] / {1- (1+7.5/400) ^ (-1/3)} = Rs. 3,43,850.

 Therefore, the interest income will be Rs. 37,850. 

Alternatively, you can use the HDFC Bank RD calculator to get the above results and avoid the hassles of manual calculation. 

Eligibility for Opening HDFC Bank RD Account

The following people are eligible to open a recurring deposit with HDFC Bank:

• Resident individuals
• Hindu Undivided Families (HUF)
• Trusts and societies
• Private companies and Public Sector Undertakings (PSUs)

Documents Required for Opening HDFC Bank RD Account

You need to have a savings account with HDFC Bank and provide documents for the same when opening a new recurring account. If you don’t have a savings account, you will need the following documents ready to open a new account:

• Identify proof (driving licence, Aadhaar card, PAN card, passport, etc.)
• Address proof (driving licence, Aadhaar card, PAN card, passport, etc.)
• Latest passport-size photographs

How to Open an HDFC Bank RD Account?

Opening a recurring account with HDFC Bank is a simple and straightforward process. If you already have an HDFC Bank Savings Account, you can open a new RD online through net banking or mobile banking. However, if you don’t have an account, you must first open a new savings account before you can book an RD. Here’s how you can open a HDFC Bank RD account:

1. Login to the HDFC Bank’s netbanking portal. 
2. Submit the online application for a recurring deposit. 
3. After you complete the KYC process and make payment, you will book an RD.

How to Close HDFC Bank RD Account?

For HDFC RD accounts that were opened at a branch, you should visit the nearest branch for liquidation. Otherwise, follow the given steps:

1. Visit your nearest HDFC Bank with your RD account details.
2. Navigate to the necessary authority member and ask for an RD account closure form.
3. Fill in the required details as asked and sign it. Please note that if the RD account has a joint holder, the closure accounts will need their signature and consent as well.
4. Attach the self-attested copies of the required documents with the closure form. These include KYC, PAN card, address proof, identity proof, RD account receipt, RD certificate etc.
5. Submit the form to the branch manager.

HDFC Bank RD Premature Withdrawal Rules

Here are the rules applicable to premature withdrawals of HDFC Bank RDs:

• Upon premature withdrawal of regular and NRO recurring deposits within a month, HDFC Bank does not pay any interest and only returns the principal deposit.
• For NRE RDs, the minimum tenure is 1 year; therefore, no interest is payable if you withdraw within a year. 
• As of July 23, 2023, HDFC Bank revised its premature withdrawal rules. According to it, the HDFC Bank RD interest rate for premature withdrawal is the rate for the tenure for which your deposit remained with the bank. 
• Prior to this, the interest rate applicable was the lower between the two- 1) agreed-upon interest rate and 2) the rate for which the deposit remained with the bank. 

HDFC Bank offers a range of RD accounts for regular investors, NRIs, PIOs, and even bulk deposits of up to ₹2.9 crores. With a minimum monthly deposit of just ₹500, you can easily start your recurring deposit journey.

Along with the convenience of low monthly contributions, HDFC Bank RD accounts offer competitive interest rates, helping you grow your savings over time.