Hdfc Recurring Deposit Interest Rate
Hdfc Recurring Deposit Account
Hdfc Deposits Online
Hdfc Recurring Deposit Interest Rates 2019

RD Calculator

Recurring Deposit scheme is offered by almost all banks (RD schemes of SBI, PNB, ICICI Bank, HDFC Bank, IDBI Bank, Bank of India, Bank of Baroda, Corporation Bank ) in one form or the other. Recurring Deposit is very popular among the salaried class, specially who can afford to save only few hindered or say few thousand rupees per month. This scheme is a boon for people who do not have a large amount of savings and thus can not use the Fixed Deposit scheme of the banks. Under this scheme, the customer deposits a minimum amount (normally fixed) every month, and bank pays the interest at the pre-determined rates (which is usually the same as applicable to fixed deposits ). At the end of the period i.e. on maturity date, the customer is paid the maturity value i.e. principle deposited and the interest payable.

Interset on Recurring Deopsits will be paid out on maturity. In case of delay in payment of any installment, the Depositor/s shall be liable to pay penal interest at the rate of Recurring Deposit interest + 2% p.a or such other rate as may be specified by HDFC Bank from time to time for the period of delay. Recurring Deposit scheme is offered by almost all banks (RD schemes of SBI, PNB, ICICI Bank, HDFC Bank, IDBI Bank, Bank of India, Bank of Baroda, Corporation Bank ) in one form or the other. Recurring Deposit is very popular among the salaried class, specially who can afford to save only few hindered or say few thousand rupees per month. HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED Regd. Office: Ramon House, H T Parekh Marg, 169, Backbay Reclamation, Churchgate, Mumbai 400 020. Phones: 00 (for Deposits only) Toll Free No. 1-8 (From MTNL & BSNL Phones) CIN: L70100MH1977PLC019916 Email: deposits@hdfc.com Website: www.hdfc.com. A recurring deposit earns interest at a pre-specified rate over the period chosen by the investor. The interest will be added to the principal amount at a certain frequency or at maturity. When the RD matures, investor is paid the actual amount invested plus the total interest earned in the entire tenure. Key features of recurring deposit.

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Recurring Deposit Interest Calculator

HDFC Recurring Deposit (RD) Interest Rates 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 the second-largest private sector bank by assets. Playamo casino no deposit. Usually, HDFC RD Interest rates range from 5.65% to 7% per annum.

The above is a RD Interest Calculator which calculates the maturity value (i.e. principal amount + interest earned ) of the deposits made under recurring deposit schemes of banks in India. The above calculator does not account for TDS as different banks will be using different periods for deduction of the TDS (see below that TDS has become applicable now on RD accounts).

TDS On Interest Earned on Recurring Deposits / TDS Rules for RD Interest :

Until May 2015, banks were not required to deduct TDS on the interest earned on RD accounts. However, wef 1st June, 2015, Tax Deduction at Source (TDS) is applicable on interest paid / accrued on RD accounts. In case the deposit holder does not want the Tax to be deducted at source, they are required to submit Form 15G / 15H (other than company, firm or co-operative society)/ Exemption Certificate under Section 197 (in case of all holders)/ or any other Tax Exemption Certificate with the Bank. Such form or tax exemption certificate has to be submitted every financial year for each recurring deposit held with the Bank. Thus, now the TDS rules for RD are similar to FD rules for TDS.

Hdfc Recurring Deposit Interest Rate

How Recurring Deposit Interest is calculated ? / Formula for RD Interest calculations : Sunrise vip slots review.

Formula used by Banks in India / Recurring Deposit Calculations / RD Calculations / Recurring Deposit Calculation Formula / RD Formula used by Indian Banks : The following formula is used by Banks in India for calculation of maturity value of the Recurring Deposit wherein the compounding is done on a quarterly basis:

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Maturity Value of the Recurring Deposits - based on Quarterly Compounding)

M =R [ (1+i)ⁿ – 1]
--------------------
1- (1+i) ^-1/3

M = Maturity value
R = Monthly installment
n = Number of quarters
i = Rate of interest/400

No deposit casino bonus netent. In EXCEL ( .xls file ) the Future Value (FV) is used for this purpose. However, it has been noticed that it does not exactly match with the values as per the bank maturity value charts of banks in India.

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Hdfc Recurring Deposit Interest Rates 2019