1. What is the HDFC Fixed Deposit Calculator?

The HDFC Fixed Deposit Calculator helps you estimate the maturity amount of your fixed deposit investment in Malaysia using the compound interest formula. It calculates returns based on principal amount, interest rate, and tenure.

2. How Does the Calculator Work?

The calculator uses the compound interest formula:

Where:

• \( P \) — Principal amount (initial investment in MYR)
• \( R \) — Monthly interest rate (annual rate divided by 12, as decimal)
• \( N \) — Number of compounding periods (months)
• \( A \) — Final amount (maturity value in MYR)

Explanation: The formula accounts for compound interest, where interest is added to the principal each month, and subsequent interest calculations are based on this new amount.

3. Importance of FD Calculation

Details: Accurate FD calculations help in financial planning by showing expected returns, comparing different FD schemes, and making informed investment decisions.

4. Using the Calculator

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

5. Frequently Asked Questions (FAQ)

Q1: What is the minimum deposit for HDFC FDs in Malaysia?
A: The minimum deposit amount varies by product, but typically starts from MYR 1,000 for regular fixed deposits.

Q2: Are HDFC FD interest rates fixed?
A: Yes, the interest rate is fixed for the entire tenure at the time of deposit booking.

Q3: How often is interest compounded?
A: For most HDFC FDs, interest is compounded monthly and paid at maturity unless you choose periodic payouts.

Q4: Is there a penalty for premature withdrawal?
A: Yes, premature withdrawals typically incur a penalty of 1% on the interest rate for the withdrawn amount.

Q5: Are HDFC FDs insured in Malaysia?
A: HDFC deposits in Malaysia are not covered by PIDM, unlike local Malaysian banks.