1. What is HDFC Fixed Deposit?

HDFC Bank Fixed Deposit is a safe investment option where you deposit a lump sum amount for a fixed tenure at a predetermined interest rate. The interest can be compounded quarterly or monthly, depending on the FD scheme.

2. How Does FD Interest Calculation Work?

The calculator uses the compound interest formula:

Where:

• \( P \) — Principal amount (₹)
• \( R \) — Monthly interest rate (annual rate ÷ 12 ÷ 100)
• \( N \) — Number of compounding periods (months)
• \( A \) — Final maturity amount (₹)

Explanation: Interest is calculated each month and added to the principal, resulting in "interest on interest" effect.

3. Current HDFC FD Interest Rates

Details: As of today, HDFC Bank offers interest rates ranging from 3.00% to 7.20% for general citizens (7.75% for senior citizens) for tenures between 7 days to 10 years. Rates are subject to change.

4. Using the Calculator

Tips: Enter principal amount (minimum ₹1000), current annual interest rate, and tenure in months. The calculator will show the maturity amount and total interest earned.

5. Frequently Asked Questions (FAQ)

Q1: What is the minimum deposit for HDFC FD?
A: The minimum amount is ₹1000 for regular FDs and ₹5000 for tax-saving FDs.

Q2: Are HDFC FDs safe?
A: Yes, HDFC Bank FDs are safe as they are covered under DICGC insurance up to ₹5 lakh per depositor.

Q3: Can I withdraw my FD before maturity?
A: Premature withdrawal is allowed but may attract a penalty of 0.50% to 1% on the interest rate.

Q4: How is interest paid out?
A: You can choose monthly, quarterly, or cumulative (reinvested) interest payout options.

Q5: Are FD interest rates fixed?
A: Yes, the rate is fixed at the time of FD booking and remains constant throughout the tenure.