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HDFC Bank Recurring Deposit Schemes & Interest Rates
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HDFC is the largest private sector lenders in India and it is known for offering a highly competitive rate of interest on an extensive range of financial products. HDFC Recurring Deposit account comes with enormous benefits. Customers can open their Recurring Deposit accounts for a minimum tenure of 6 months and a maximum of 120 months. An HDFC Recurring Deposit account helps the customers to earn interest on the principal amount on the maturity of the deposit term. Deposits in the Recurring Deposit account can be made on a monthly account on the basis of the standing instructions from the HDFC savings account. Based on the tenure of the deposit, the customers can earn an interest ranging from 6.25%-7%.

HDFC Recurring Deposit Interest Rates


Regular RD Interest Rates

Senior Citizen RD Interest Rates

6 Months



9 Months



12 Months



15 Months



24 Months



27 Months



36 Months



39 Months



48 Months



60 Months



Important Information on HDFC Recurring Deposit Scheme

Minimum Amount to be Deposited



6 months to 120 months

Additional Interest rate for Senior Citizen


What is the Maximum Interest Rate Offered by the Bank and for What Tenure?

For all term periods between 12 to 24 months, the rate of interest offered is 7.25% which is the maximum for a regular citizen.

Eligibility Criteria for HDFC Recurring Deposit Scheme

The following entities can open an HDFC Recurring Deposit account

  • Any individual resident of India
  • A member of HUF
  • Public and Private organizations
  • Societies and trusts

Documents Required for opening an HDFC Recurring Deposit

The documents required for opening HDFC Recurring Deposit account are:

  • Form that is required to be filled up to apply for HDFC Recurring Deposit account
  • Identity proof of the applicant. the documents that are considered to be valid ID proof  are a passport, PAN, Aadhar Card, Voter ID, Driving License, Ration Card, Senior Citizen card, Government ID card
  • Address proof of the applicant. The documents that are considered to be valid address proof are a passport, bank statement, phone bills, electricity bills and Aadhar Card.
  • Passport size photographs of the applicant

How to Apply for Recurring Deposit in HDFC Bank?

You can open an HDFC Bank Recurring Deposit account by following these easy steps:

  • Sign in to your account
  • Navigate to the Recurring Deposit menu on the left panel of the webpage
  • Click on open Recurring Deposit
  • Choose the amount that you wish to deposit
  • Choose the deposit term
  • Use the drop-down menu to fill up the following details
  • Click on Continue to review and confirm the details
  • Your Recurring Deposit account details will be shown on the screen and added to your HDFC net banking account.
  • Recurring Deposit advice will be sent to you via post within 3-4 working days

How can I Liquidate An HDFC Recurring Deposit Account?

If someone wishes to close their Recurring Deposit account prematurely, they can follow these steps in the HDFC Netbanking section:

  • Sign in to your HDFC Netbanking account
  • Navigate to the left panel and click on Recurring Deposit menu
  • Click on Liquidate Recurring Deposit
  • Choose your Recurring Deposit account number
  • Click on Continue
  • Review the details provided by you on the page
  • Click on Confirm to liquidate your Recurring Deposit account
  • The details of liquidation will be displayed on the screen
  • The interest rate payable on the Recurring Deposit account will be lower than the original base rate when the Recurring Deposit account was opened. The base rate is applicable on Recurring Deposit account which has a deposit of less than one crore. If you close the account within a month, you won't be receiving any interest on the deposited amount.

Premature Withdrawal of HDFC Recurring Deposit

If an HDFC Recurring Deposit account holder wishes to withdraw the deposited amount prematurely, then the interest rate applicable on the deposit will be as follows:

The interest rate applicable will either be the rate that he/she was earning on the principal amount or the interest rate he/she was earning for the period for which the money was deposited, whichever is lower. The bank also charges a penalty of 1% of the deposited amount on the premature withdrawal of Recurring Deposit.

Get the Highest HDFC Recurring Deposit Interest Rates

Attractive interest rates are offered by HDFC Bank Recurring Deposit account depending on the tenure and the type of account. The tenure varies from 6 months-60 months. For the minimum tenure of 6 months, the interest rate offered is 6.25% and for the term period ranging from 12 months-60 months, the interest rate offered is 7%

For the deposit term of 90-120 months, the interest rate offered is 6%

Short-Term HDFC Recurring Deposit Interest Rates

The short-term HDFC Recurring Deposit scheme has a tenure of 6 months-1 years. The rate of interest offered by HDFC bank for a deposit term of  month id 6.25 %, for 9 months, the bank offers 6.4% rate of interest per annum and for a 12 month period, the bank offers an interest rate of 6.85%

HDFC Medium-Term and Long-Term Recurring Deposit Interest Rates

The medium-term deposit ranges from 12 months-60 months. For a regular citizen, HDFC provides an interest rate of 7% per annum.

For a long-term deposit whose tenure ranges from 5-10 years, the bank offers an interest rate of 6%

Senior Citizen HDFC Recurring Deposit Rates

Senior citizens are offered an additional interest rate of 0.5% higher than the regular citizen.

The rate of interest offered by HDFC Bank to senior citizens for a 6-month period is 6.75%, for a 9 month period the interest rate offered by the bank is 6.9% and for a 12 month period, the interest rate offered is 7.35%

For a medium-term Recurring Deposit scheme, a senior citizen is offered an interest rate of 7.5%. For a long-term Recurring deposit scheme, HDFC Bank offers an interest rate of 6.5% for the senior citizens

HDFC Recurring Deposit Rates for NRI

The interest rates offered by HDFC account to NRIs have a minimum tenure of 12  months and the rate of return offered on the tenure is 6.85%. For a medium-term deposit, NRIs are offered an interest rate of 7% and for a long-term deposit account, HDFC Bank offers an interest rate of 6%

Parameters to Consider Before Opening an Recurring Deposit Account


At the time of opening an Recurring Deposit account with HDFC Bank, the installment amount is chosen by the account holder. The Bank doesn't accept any partial payment or installment. If 6 months installments are overdue, the Bank has the rights to close the Recurring Deposit account. The interest rate applicable on such accounts are subject to the terms and conditions of the premature liquidation policy

Lock-in Period

A lock-in period of one month is applicable on all the Recurring Deposit accounts. When the account owner opts for a premature liquidation, he/she can receive the principal amount without any interest.


On maturity, the interest amount along with the principal amount is credited to the account holder's funding account after all the overdue installments are cleared. The amount received on maturity may change due to factors such as installments, premature liquidation, new taxation rules etc

Tax Deducted at Source (TDS)

The interest earned through an Recurring Deposit account is also dependent on the Tax Deducted from Source based on the Income Tax Rules

FAQs on HDFC Recurring Deposit

How can I add nominee details?

You can add the details of the nominee of your account through the HDFC net banking service. If you have a savings account with HDFC, then the nominee details are traced from the details of your savings account

What are the options for the interest payout?

The interest on Recurring Deposit is paid only on maturity. There is no provision for the monthly, annually or quarterly payouts.

How can I change the installment due date?

It is not possible to change the due date of your installments with your Recurring Deposit account or the tenure of the Recurring Deposit account.

How can I set the Recurring Deposit installment due date?

The Recurring Deposit installments are debited from your savings account depending on the date on which the Recurring Deposit account was opened.

What happens when I fail to pay the installment?

The benefits that people receive is subject to the installments paid. If more than six installment payments are overdue, then the bank has the right to close that Recurring Deposit account following the premature withdrawal policy.

Can I earn additional interest in paying more than one installment at once?

No. There is no provision for earning more if you make the installment payment more than once.

Does the Recurring Deposit account come with an overdraft facility?

No. HDFC Bank currently doesn't offer overdraft facility for Recurring Deposit account.

Is it possible to liquidate the Recurring Deposit before maturity?

Yes, premature withdrawal is allowed by HDFC Bank based on the terms and conditions of the HDFC Recurring Deposit account.