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HDFC RD Calculator - Calculate HDFC Bank Recurring Deposit Returns Online

HDFC RD calculator is an online tool that helps in calculating the wealth gained on an RD investment. In other words, it estimated the maturity and interest amount from an RD investment. HDFC RD calculator is available online and is free to use. In the article, we have covered the HDFC RD calculator and recurring deposit rate calculation in detail.

Deposit Amount should be minimum ₹100
*Estimation is based on historical return of the funds and done to facilitate informed decision making for investors. Actual results may vary. Mutual Fund investments are subject to market risk. Please read the respective offer documents carefully before investing.




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Average yearly return of top performing debt mutual funds recommended by Scripbox

Funds Yield to Maturity
Tata Liquid Fund 7.37%
Kotak Savings Fund 7.37%
ICICI Prudential Savings Fund  8.06%


What is an HDFC RD Calculator?

HDFC Bank RD calculator is an online tool that helps in estimating the interest earned by investing in a recurring deposit. For recurring deposits, the maturity amount is the sum of all investments and the interest earned during the investment tenure. Also, the interest of RD gets compounded quarterly.

HDFC bank offers RD for different tenure options. One can choose between a range of tenures between six months to ten years. For Non-Resident Indians, the minimum tenure is twelve months. The minimum amount for RD investment is INR 1,000 and thereafter in multiples of INR 100. Also, the maximum investment amount in RD per month is INR 1,99,99,900.

The HDFC RD calculator calculates the interest and also the value of the investment at a future date. A calculator is a simple tool that requires one to enter the following inputs in the RD calculator:

Monthly deposit amount: It is the amount one intends to invest every month in a recurring deposit.

Interest rate: It is the income that one earns on their RD investment. The banks set the recurring deposit interest rate. The interest rates of RDs of multiple banks are available online.

RD term: It is the tenure of the recurring deposit investment in months.

Once an individual enters the above inputs in the calculator, the following outputs or results are determined:

Total investment: It is the total of all monthly investments the investor makes in the RD.

Wealth Gained: The wealth gained is the interest income on RD investment.

Total Corpus created: It is the sum of all investments (total investment) and the wealth gained. In other words, it is the maturity value of the RD investment.

How to use an HDFC RD Calculator?

One can use the HDFC RD calculator online for free. Using the calculator is quite simple. One has to enter a few basic details such as monthly investment amount and HDFC Bank recurring deposit rate. The calculator helps in determining the wealth created from an investment. To determine the investment value, the calculator uses the future value formula. The following example will help in understanding the HDFC RD calculator better.

Mr Bhargav wishes to invest INR 25,000 per month in a recurring deposit scheme for five years. The HDFC bank RD rate is 5.70%. The maturity value of the investment for Mr Bhargav can be determined by using the HDFC RD calculator.

Inputs for the calculator:

Monthly investment amount: INR 25,000

HDFC Bank recurring deposit rate: 5.70%

RD Term: 5 years

Outputs for the calculator

Upon entering the above inputs in the calculator, the following outputs shall be displayed:

Total Investment: INR 15,00,000

Wealth Gained: INR 2,37,854

Total Corpus Created: INR: 17,37,854

The investment of INR 15,00,000 made today at 5.70% interest per annum would be INR 17,37,854 in five years. The interest income for Mr Bhargav will be INR 2,37,854.

Benefits of using an HDFC Recurring Deposit Calculator

The following are the benefits of using HDFC recurring deposit calculator:

Simple and easy to use: The RD calculator is a simple tool that an individual can easily use by entering the inputs to calculate their return.

Saves time: The calculator performs complex calculations within seconds, saving investors time.

Accurate results: The computations by the calculator are accurate, and the chance of error is almost zero.

Comparison: Investors can compare HDFC Bank RD interest rates of various RDs and choose the one that benefits them. Hence, the calculator helps the investor choose the best plan.

Future planning: Investors can plan their investment goals by analyzing the outputs given by this calculator. Since the calculator estimates the future value of an RD investment. As a result, they will know how much return the investment would generate in the future. Hence, this allows them to plan their investments and financial goals.

Free to use: The calculator is a free online tool and can be used multiple times to calculate and compare returns from RD investment.

How is interest and maturity amount on an RD calculated?

Recurring deposit interest rate is compounded quarterly. Until then, the investment will earn simple interest. Let's take an example of an investor who invested in an RD in the month of November. The investor will earn a simple interest until December. At the end of the quarter, in December, the interest is compounded. In other words, the interest will earn interest only in December. The financial quarters for HDFC Bank recurring deposits are:

  • First Quarter: April to June
  • Second Quarter 2 July to September
  • Third Quarter: October to December
  • Fourth Quarter 4 January to March


The formula for RD interest rate and maturity value

The interest and maturity amount of HDFC Bank recurring deposit is calculated using the following formula:


Where, M = Maturity value

R = Monthly Instalment

N = Number of Quarters (tenure)

i = Rate of interest/400

  • Monthly installment: It is the amount that the investors will invest every month for a pre-defined period.
  • The number of quarters: It is the tenure of the investment. In other words, the number of quarters the investor will stay invested in an RD scheme.
  • Rate of interest: It is the interest offered by banks on the RD. The interest on RD varies with the tenure of investment. The bank decides RD rates.



Let's understand this better with an example. Mr Akhil wants to invest INR 10,000 per month in an RD scheme for a tenure of 5 years or 60 months. The interest rate offered by the scheme is 6%. To calculate the maturity value, Mr Akhil will use the following formula.


M = 10000*[(1+6/400)^(20-1)](1-(1+6/400)^(-1/3))

M = 7,00,636

The total investment in INR 6,00,000. The interest earned is INR 1,00,636

Current HDFC RD interest rates

HDFC Bank recurring deposit interest rates for regular citizens and senior citizens are given below:

Tenure General RD Interest Rates Senior Citizen RD Interest Rates
6 months 4.50% 5.00%
9 months 5.00% 5.50%
12 months 5.60% 6.10%
15 months 5.60% 6.10%
24 months 5.60% 6.10%
27 months 5.75% 6.25%
36 months 5.75% 6.25%
39 months 5.75% 6.25%
48 months 5.75% 6.25%
60 months 5.75% 6.25%
90 months 5.75% 6.25%
120 months 5.75% 6.25%


HDFC Bank’s recurring deposit rate is higher than its savings account. The interest in RDs is compounded quarterly. The investor will receive the interest at the time of maturity, along with the investment amount. The highest interest rate for HDFC RD is 5.75 % (6.25% for senior citizens) for a tenure of 27 months to 120 months (2.25 years to 10 years).

What are the documents required to open an RD account in HDFC Bank?

While opening a recurring deposit account with HDFC, the following are the list of documents required:

  • Account opening form (filled and duly signed)
  • Recent passport size photograph
  • KYC Documents for Individual & Company: PAN Card, Passport Copy, Aadhar Card, Voter's ID, and Driving License
  • For HUFs the KYC documents are HUF declaration deed, bank statement of HUF, and self-attested PAN card
  • The JYC documents for Partnership Firms are Certificate of Incorporation, Partnership deed, and ID proofs of all authorized signatories.


However, to invest in an RD, one has to meet the eligibility criteria. The eligibility criteria to invest in HDFC Bank Recurring Deposit is:

  • Resident Individuals
  • Minors over ten years with an identity proof on their name
  • Minors below or equal to 10 years of age can open an RD account under the guardianship of a natural or legal guardian.
  • NRIs and PIOs (Non-Resident Indians and Persons of Indian Origin)
  • Organizations
  • Sole proprietorship firms
  • HUFs
  • Trusts and companies
  • Partnership Firms
  • Public and Private Limited companies


RDs provide stability of returns to an investment portfolio. However, the returns from them are lower than other investment options. Instead of RDs, investors can choose good debt funds which have returns that are quite stable with high liquidity.

Frequently Asked Questions