Note: Interest rates are effective from Dec 14, 2022. #Only Resident Senior Citizens are eligible for higher rates of interest. And, at the end of the maturity, investors are paid back their invested money with accrued interest.Ī user willing to open an RD account with HDFC Bank can choose any amount and term according to your convenience. Every month, a fixed amount of money is deducted either from a savings or a current account. If you are familiar with SIP in Mutual Funds, RD works similarly in banking. It is a type of term deposit which allows one to save a fixed amount of money every month systematically. With HDFC’s Recurring deposit scheme, one can now save money in regular installments and earn interest on payments.Ī recurring deposit is an investment cum savings option for those who want to save regularly over a certain period of time and earn a higher interest rate. HDFC Bank RD (Recurring Deposit) Interest Rates 2023 Updated on Novem, 16918 views Documents Required to Open HDFC RD Account.
