HDFC, one of the country’s largest privately-owned financial organizations, has a wide array of Fixed Deposit plans. To invest in such a financial instrument and create better plans for the future, you need the services of a HDFC FD calculator. Groww provides you with an easy-to-use calculator which can help you determine how much your investment will amount to after a certain period.
Fixed Deposits have long been the cherished investment avenues for generations of Indians. Currently, the FD interest rates HDFC offers is 7.40% for the general public while senior citizens can avail interest rates of up to 7.90%.
Also, by using the HDFC bank FD calculator, you can determine which existing schemes are ideal for you and how long you have to continue the fixed deposit to reap the dividends you want.
Simply put, any FD calculator has one significant advantage: it helps in determining how much an asset like an FD will fetch after maturity.
Here are some reasons why you should use the HDFC FD interest calculator.
Like the various other types of calculators you will find at the end of this page, the FD calculator for HDFC uses a specific proprietary formula. You will need to put in deposit term, the specific type of FD you are investing in (Monthly payments/reinvestments/quarterly), the exact date on which the Fixed Deposit was initiated, the applicable interest rate and the total sum invested.
Then click on “calculate” and you will know how much return you are eligible for. It is a specialty of the online HDFC FD calculator
For example, if you have invested Rs 80,000 for a total period of 5 years, here is the breakdown of your total earnings on maturity.
|Tenure bracket||FD rates||Total maturity on Rs 80,000 (in Rs)|
|30 days to 45 days||5.75%||80,567|
|46 days to 6 months||6.25%||82,466|
|6 months and 1 day to 9 months||6.75%||84,152|
|9 months and a day to less than a year||7.10%||84,437|
|1 to 2 years||7.30%||92,453|
|2 years and 1 day to 3 years||7.40%||99,684|
|3 years and a day to 5 years||7.25%||114,596|
This means that after 5 years, you will receive a total sum of Rs 1,14,596 on your initial investment of Rs 80,000. It is an appreciation of more than Rs 34,000. This is exactly why you need a reliable HFDC FD calculator.
We have a very simplified and easy to access financial tool for you. The steps are –
Step 1: Input the initial investment amount , the tenure and the interest rate.
Step 2: The amount you will receive upon maturity will be reflected instantly
Here are some main advantages when you use the HDFC FD interest rate calculator.
“Looking to invest? Open an account with Groww and start investing in direct Mutual Funds for free”
HDFC has an interest rate of 8% on sums above Rs. 1 Crore but below Rs. 5 Crore. The rate is applicable for medium-term investments.
You can either open one by Netbanking or visit the nearest HDFC branch.
Yes, all senior citizens are eligible for extra interest of 0.50% each year.
Actually, under the IT Act of 1961, interest is taxable at source.
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