HDFC Bank offers recurring deposit schemes with attractive interest rates to its customers. Incorporated in 1994, HDFC Bank Ltd. is an Indian banking and financial services company and second-largest private sector bank by assets. Usually, HDFC RD Interest rates range from 5.65% to 7% per annum. One can open an HDFC recurring deposit account with a minimum deposit of Rs. 1,000 to Rs. 14, 99, 900 with tenures ranging from 6 months to 10 years.

HDFC RD Interest Rates

Tenure Interest Rate for Regular Citizens (p.a.) Interest rate for Senior Citizens (p.a.)
6 Months 5.65% 6.15%
9 Months 6.25% 6.75%
12 Months 6.60% 7.10%
15 Months 6.60% 7.10%
24 Months 6.60% 7.10%
27 Months 7.00% 7.50%
36 Months 7.00% 7.50%
39 Months 6.90% 7.40%
48 Months 6.90% 7.40%
60 Months 6.90% 7.40%
90 Months 6.90% 7.40%
120 Months 6.90% 7.40%

 HDFC Bank RD Interest Rates – Highest RD Rates

  • HDFC offers RD interest rates starting from 5.65% and ranges till 7.40%
  • Highest regular interest rate one can earn is 7.40 for a 3-year tenure
  • Highest interest rate senior citizens can earn is up to 7.90% for a 3-year term
  • NRI account holders can earn the highest rate up to 7.40% for a 3-year tenure
  • HDFC Recurring Deposit Interest Rates are compounded quarterly
  • Minimum deposits accepted by HDFC starts from Rs. 1000 up to Rs. 14,99,900

HDFC Bank Term Wise Interest Rates

HDFC RD Short Term Interest Rates: The short term tenure of HDFC RD account ranges from 6 months to 1 year. The interest rate offered for 6 months is 6.25%, 9 months is 6.75% and for 12 months, it is 7.30%.

Medium-Term and Long-Term HDFC RD Interest Rates: The tenure of the medium-term deposit ranges from 12 months (1 year) to 60 months (5 years) or less than that. Long term HDFC deposits can last up to 10 years. The interest rates provided by the bank are 7.25% to 7.40% for regular citizens and NRIs and 7.75% to 7.90% for senior citizens.

HDFC Recurring Deposit Schemes Types

HDFC Recurring Deposit: Under this RD scheme, one can earn interest rates the same as that of the HDFC fixed deposit scheme. This account can be opened with a minimum amount of Rs. 1000.

HDFC Dream Deposit: Under this recurring deposit scheme, you have the flexibility to deposit money whenever it is available. Moreover, no prepayment penalty charges will be levied if the amount is withdrawn before the maturity date.

HDFC NRE RD Scheme: The bank also allows NRIs to open NRE recurring deposit account (Non-Resident External account). For an NRE RD account, the minimum tenure is 1 year while the maximum is 10 years. The NRI RD account interest rates have been illustrated below:

Tenure Interest Rates for NRIs (p.a.)
6 Months N.A.
9 Months N.A.
12 Months 6.60%
15 Months 6.60%
24 Months 6.60%
27 Months 7.00%
36 Months 7.00%
39 Months 6.90%
48 Months 6.90%
60 Months 6.90%
90 Months 6.90%
120 Months 6.90%

Benefits of opening an HDFC Recurring Deposit Account

  • A minimum amount of just Rs. 1000 is needed to open the account.
  • The RD interest rates offered by the bank is the same as fixed deposit rates
  • The bank also offers a nomination facility so that you can nominate someone to redeem the maturity amount in case of your demise
  • No premature withdrawal penalty is charged under the Dream Deposit plan.
  • Senior citizens can avail additional interest rates
  • There’s a lock-in period of 1 month from the date of account opening. During this time, one cannot withdraw the deposit money.

Note: The bank can close the RD account in case you fail to pay the monthly installments frequently

Nomination facility for Recurring Deposits

  • If the RD account is opened in a single person’s name, either a new nominee or an existing nominee who has already been added to the base savings account can be assigned.
  • In case the RD is in a joint name, the selected nominee should be the same as the one in the base savings account.
  • HDFC Net Banking nomination facilities can be used in both cases.

How to Open a Recurring Deposit Account in HDFC?

An HDFC recurring deposit account can be opened in two ways:

  • By visiting the branch directly
  • Via Net Banking

If you already have an HDFC account, you can use your net banking credentials to log in to your account and open an e-RD within a couple of minutes. If you are not an HDFC account holder, you need to open an account first. Once your account is active, you can log in and open an e-RD right away.

HDFC Bank RD Withdrawal Before Maturity

  • The HDFC bank Recurring Deposit account can be liquidated by either visiting the branch directly or via net banking.
  • In case you are opting for premature withdrawal, the full interest amount won’t be provided
  • The principal amount along with some partial interest amount (depending on the terms) will be credited.


  1. When is the interest paid?

 Ans: The interest of an RD account is paid upon maturity only. There are no monthly or quarterly interest payouts.

  1. Can I change the installment due date and RD tenure?

Ans: No. The installment due date and the tenure cannot be changed.

  1. Does the bank deduct TDS on the interest payable?

 Ans: Yes, TDS is deducted if the interest amount exceeds Rs. 40,000 (Rs. 50,000 for senior citizens) in a calendar year.

  1. Can we make partial payments on recurring deposits?

Ans: No, partial payments on recurring deposits are not available.


With additional benefits under schemes like the HDFC dream deposit, one gets an edge over typical recurring deposit accounts. Also, the HDFC RD interest rates 2020 are almost equivalent to that of fixed deposit rates which is again considered as an ideal parameter to invest in a recurring deposit. However, it is recommended to read all the terms and conditions before proceeding with any investment.