1. What is the HDFC FD Calculator?

The HDFC Fixed Deposit Calculator helps you estimate the maturity amount of your fixed deposit investment using compound interest principles. It provides results comparable to SBI FD rates for easy comparison.

2. How Does the Calculator Work?

The calculator uses the compound interest formula:

Where:

• \( P \) — Principal amount (INR)
• \( R \) — Monthly interest rate (annual rate / 12, as a decimal)
• \( N \) — Number of compounding periods (months)
• \( A \) — Final amount (INR)

Explanation: The formula accounts for monthly compounding, where interest earned each month is added to the principal for the next month's interest calculation.

3. Importance of FD Calculation

Details: Accurate FD calculations help in financial planning, comparing different FD schemes, and understanding how compounding can grow your investment 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: How does HDFC FD compare to SBI FD?
A: Interest rates are generally comparable, but may vary slightly. This calculator helps you compare potential returns.

Q2: What is the minimum investment for HDFC FD?
A: Typically ₹5,000 for regular FDs, though special schemes may have different minimums.

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

Q4: Is TDS applicable on FD interest?
A: Yes, TDS is deducted if interest exceeds ₹40,000 (₹50,000 for senior citizens) annually.

Q5: Can I withdraw FD before maturity?
A: Yes, but premature withdrawals may attract penalty charges and lower interest rates.