1. What is the HDFC Fixed Deposit Calculator?

The HDFC Fixed Deposit Calculator helps you estimate the maturity amount of your fixed deposit investment using the compound interest formula. It calculates both the principal and interest you will earn at the end of the tenure.

2. How Does the Calculator Work?

The calculator uses the compound interest formula:

Where:

• \( A \) — Maturity amount (INR)
• \( P \) — Principal amount (INR)
• \( R \) — Monthly interest rate (annual rate / 12 / 100)
• \( N \) — Number of compounding periods (months)

Explanation: The formula accounts for monthly compounding of interest, which is how most bank fixed deposits work in India.

3. Importance of FD Calculation

Details: Accurate FD calculations help in financial planning, comparing different investment options, and understanding how compounding grows your money over time.

4. Using the Calculator

Tips: Enter principal amount in INR, annual interest rate in percentage, and tenure in years. All values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: What is the minimum deposit for HDFC FDs?
A: HDFC Bank typically requires a minimum of ₹5,000 for regular fixed deposits, though amounts may vary for special schemes.

Q2: How often is interest compounded?
A: HDFC Bank compounds interest quarterly by default, but this calculator assumes monthly compounding for more accurate results.

Q3: Are FD interest rates fixed?
A: Yes, the interest rate is fixed for the entire tenure at the time of opening the FD.

Q4: What is TDS on FD interest?
A: If interest exceeds ₹40,000 (₹50,000 for seniors) annually, TDS of 10% is deducted unless you submit Form 15G/15H.

Q5: Can I withdraw my FD early?
A: Yes, but premature withdrawals attract penalty charges (typically 0.5-1% reduction in interest rate).