How is RD amount calculated?
The formula used is A = P(1+r/n) ^ nt, where ‘A’ represents final amount procured, ‘P’ represents principal, ‘r’ represents annual interest rate, ‘n’ represents the number of times that interest has been compounded, ‘t’ represents the tenure.
What is RD interest rate in HDFC?
HDFC Bank’s recurring deposits offer interest rates ranging from 3.50% p.a. to 5.60% p.a. for the general public on tenures ranging from 6 months to 10 years while senior citizens get an additional interest of 0.50% on all tenures.
Which bank has highest RD rates?
Best Recurring Deposit Scheme in India with Highest Interest Rates
- For 2-year tenure, one of the best highest interest rates are offered by Lakshmi Vilas Bank at 7.50% p.a. and then by Yes Bank at 7.50%.
- For 3-year and 4-year tenures, you earn the best RD interest rates with Lakshmi Vilas Bank at 7.50% p.a.
What are HDFC special deposits?
HDFC Bank offers a 2.50% interest rate on deposits between 7 days and 29 days, and 3 % on deposits maturing in 30-90 days. On 91 days to 6 months, 3.5% and on 6 months 1 day to less than one year, 4.4%. The bank gives 4.9% on FDs maturing in one year.
What is RD account in HDFC Bank?
A Recurring Deposit, commonly known as RD, is a unique term-deposit that is offered by Indian Banks. It is an investment tool which allows people to make regular deposits and earn decent returns on the investment.
Which bank is best for Recurring Deposit 2021?
How to check personal loan balance in HDFC?
Visit the official website of HDFC Bank at www.hdfcbank.com.
How to activate internet banking in HDFC?
How To Activate New Hdfc Net Banking? ATMStep1. We recommend that you use an ATM in HDFC Bank’s neighborhood. Step2. The HDFC Bank debit card number and ATM PIN are needed. Step3. Go to the main screen and select Other Option. Step4. Please select ISTER and then click ROVE.
How much we can deposit in HDFC Bank?
– There is no limit on number of fixed deposits opened in a bank. – Deposit should be held for a minimum 7 days (15 days for above 1Cr) and maximum of 10 years. – Interest rates vary depending on the amount and time period. – Minimum amount is ₹ 1,000 & might vary from bank to bank.
How to pay the unbilled transaction of HDFC?
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