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HDFC Fixed Deposit Interest Calculator

Compound Interest Formula:

\[ A = P \times (1 + R)^N \]

INR
%
years

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1. What is HDFC Fixed Deposit?

HDFC Fixed Deposit is a safe investment option where you deposit a lump sum amount for a fixed period at a predetermined interest rate. The interest is compounded quarterly or monthly, leading to higher returns than simple interest.

2. How Does the Calculator Work?

The calculator uses the compound interest formula:

\[ A = P \times (1 + R)^N \]

Where:

Explanation: The formula accounts for compound growth where interest is earned on both principal and accumulated interest.

3. Importance of FD Calculation

Details: Accurate FD calculation helps in financial planning, comparing investment options, and understanding the power of compounding over time.

4. Using the Calculator

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

5. Frequently Asked Questions (FAQ)

Q1: How often is interest compounded in HDFC FDs?
A: HDFC compounds interest quarterly by default, but monthly compounding is available for certain tenures.

Q2: What is the minimum investment for HDFC FD?
A: The minimum investment is ₹5,000 for regular FDs and ₹100 for special senior citizen FDs.

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

Q4: What are the tax implications?
A: Interest income is taxable as per your income tax slab. TDS is deducted if interest exceeds ₹40,000 (₹50,000 for senior citizens) per year.

Q5: Can I withdraw my FD before maturity?
A: Yes, but premature withdrawals may attract penalty charges (typically 0.5-1% lower interest rate).

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