Compound Interest Formula:
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The HDFC FD Calculator helps you estimate the maturity amount of your fixed deposit investment with HDFC Bank from 2016 to present. It uses compound interest calculations based on historical and current interest rates.
The calculator uses the compound interest formula:
Where:
Explanation: The formula accounts for the effect of compounding where interest is earned on both principal and accumulated interest.
Details: Accurate FD calculations help in financial planning, comparing investment options, and understanding how compounding can grow your money over time.
Tips: Enter principal amount in INR, annual interest rate (check HDFC's current rates), tenure in years, and select compounding frequency. All values must be valid (principal > 0, rate > 0, years 1-30).
Q1: What are HDFC's current FD interest rates?
A: Rates vary by tenure and customer type (general/senior citizen). Check HDFC's official website for current rates (typically 3-7% for 1-10 years).
Q2: How often does HDFC compound FD interest?
A: HDFC typically compounds interest quarterly, but you can choose monthly, quarterly, or annual compounding.
Q3: Are FD interest rates fixed for entire tenure?
A: Yes, the rate is fixed when you book the FD and remains constant for the entire tenure.
Q4: What is the minimum deposit for HDFC FD?
A: Minimum ₹5,000 for regular FDs (may vary for special schemes).
Q5: Are premature withdrawals allowed?
A: Yes, but with penalty (typically 1% lower interest rate than applicable rate).