Recurring Deposite

What's in store for you

More benefits than ever before

Investment Benefits

  • Investment with attractive interest rates, flexibility, good returns & security 

Banking Benefits

  • Option to invest amount as per your financial goals*

Digital Benefits 

  • Convenience of booking deposit through NetBanking 

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Wondering if you are eligible?

You are eligible for the Recurring Deposit if you are one of the following:

  • Resident individuals
  • Hindu Undivided Families
  • Private and Public Limited Companies
  • Trust & Societies
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Secure your savings with HDFC Bank
Recurring Deposits Just like 42 lakh+ customers

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Documents required to get you started

Identity Proof 

  • Recent photograph 
  • KYC documents 

Individual & Company Proof 

  • PAN card 
  • Aadhaar Card
  • Passport
  • Driving License
  • Voter’s ID 

Partnership Proof 

  • Incorporating certificate  
  • Authorised signatories ID proofs 
  • Partnership Deed
  • Authorised signatories’ signatures

Hindu Undivided Family 

  • Self-attested PAN card 
  • HUF declaration deed 
  • HUF’s Bank Statement 

Know more about Recurring Deposit

Convenience

  • Invest small amounts monthly & get interest rates equal to regular Fixed Deposits 
  • Safe investment as it does not get impacted by market fluctuations 
  • Lock-in interest rate for the entire tenor of RD 
  • Invest in instalments & get lumpsum amount on maturity 
  • Fixed ROI throughout the tenure even though the investments are made in instalments 
  • Invest in tenure which suits your requirements (Min 6 months in multiple of 3 months thereafter, Max 10 Years). For NRI customers, the minimum tenure of RD is 12 months  
  • Invest amount as per your financial goals (Min ₹500, in multiples of ₹100 thereafter, Max ₹2.99 Cr
  • Premature liquidation option is available 
  • No penalty on premature withdrawal 
  • Seamless online experience 
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RD Details

Lock in Period

  • The Recurring Deposit account has a minimum lock-in period of one month.
  • In the case of premature closure within a month, no interest shall be paid to the depositor and only his principal amount shall be returned.

Maturity

  • Interest is paid only on maturity.
  • The Deposit shall be due for repayment and shall mature on completion of the contracted tenure, even if there are instalments still to be paid.
  • The maturity amount mentioned on the Recurring Deposit confirmation advice is subject to the payment of all instalments on time
  • In case of any delay in the payment of scheduled instalments, the maturity amount shall change

Overdue Instalments

  • If frequent defaults (non-payments) are observed in monthly instalments, and six instalments fall in arrears, the Bank reserves the right to close the RD account. The interest rate applicable on such closed accounts will be as per the premature withdrawal policy of the Bank.
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Nomination Facility through NetBanking

  • Make a nomination while booking Recurring Deposits through NetBanking.  
  • Add a new nominee or select the original one from your base Savings Account when scheduling an RD via NetBanking under a single name. 
  • When booking a joint RD via NetBanking, deposits go to the main Savings Account. 
  • To add a new applicant to a joint RD, visit the nearest branch.  
  • Customers can instantly add or modify a nominee for existing single-holding RDs via NetBanking. 
  • For joint RD, download the nomination form from NetBanking, get signatures, and submit it at the nearest HDFC branch.
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Interest Rates

  • HDFC Bank offers attractive interest rates on various deposit and savings schemes. Customers can choose from a range of tenure options tailored to their financial goals. Special interest rates are available for senior citizens to maximise their returns. Additionally, deposits are secure and backed by the trust and reliability of HDFC Bank. 
  • Click here to view details of the interest rates 
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Important Information

TDS UPDATE

  • TDS on RD accounts (if applicable) will be recovered on RD interest if Savings/Current accounts linked to RD are not maintained, effective 4th Feb'2018

Payment of interest on Recurring Deposits

  • TDS will be deducted when interest payable or reinvested on RD and FD per customer across all branches, exceed ₹40,000 (₹50,000 for Senior citizens) in a financial year
  • The interest rates for recurring deposits will be the same as the rate applicable for a simple Fixed Deposit.
  • With effect from Oct 24, 2015, the following changes would be applicable to all Recurring Deposits. Interest on a Recurring Deposit will be calculated from the date the instalment is paid. The method of calculation of interest on RDs will be on Actual / Actual Quarterly Compounding. TDS on RD is applicable as per Finance Act 2015. TDS on RD will be recovered from the linked CASA.

Payment of Instalment

  • The instalment amount once fixed cannot be altered at any later date.
  • In case of more than one instalment being overdue at the time of payment, upto 6 instalments can be recovered from the linked account if sufficient balance is available.
  • If more than one instalment is overdue at the time of payment, the paid instalment, if sufficient to cover only that one instalment will be appropriated towards the first or earliest instalment overdue.
  • Partial payment of instalments will not be permitted.
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Most Important Terms and Conditions

  • *The (Most Important Terms and Conditions) for each of our banking offerings features all the specific terms and conditions that govern their use. You must go through it thoroughly to fully understand the terms and conditions applicable to any banking product you choose.  
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Frequently Asked Questions

A Recurring Deposit is a type of Bank Deposit that allows you to invest a fixed amount every month for a specific tenure at an attractive interest rate. 

A: You can open a Recurring Deposit account online through MobileBanking or NetBanking.  

Some of the benefits of a Recurring Deposit include flexible investment amounts, competitive interest rates, and the ability to earn interest equal to regular Fixed Deposits. Other benefits are as under: 

  • Easy monthly investments, starting from just ₹1,000 per month. 

  • Higher interest rates compared to regular savings accounts. 

  • Tax-efficient investment option.  

  • Option for NRI customers with a minimum tenure of 12 months. 

1. Visit our website and click on the "Open an RD Account" button. 

2. Provide your personal and contact details. 

3. Choose your investment amount, tenure, and nominee details. 

4. Upload the required documents.  

5. Review your application and submit it. 

6. Once your application is approved, you will receive confirmation and account details. 

Customers holding HDFC bank CASA a/c and registered on SMS Banking can book RD via SMS from their registered mobile no. 

Recurring Deposit can be booked for minimum amount of ₹1,000 (in multiples of 100 thereafter) and maximum amount of₹10,000 via SMS.  

Recurring Deposit can be booked for a minimum tenure of 6 months (in multiples of 3 months thereafter) & maximum tenure of 120 months via SMS. 

Recurring Deposit booked using SMS banking will by default get booked with maturity instruction as maturity proceeds to be credit to CASA account. 

Electronic advice will be sent to the customer’s registered email ID. 

A maximum of 5 successful transactions per day for RD is permitted. 

The nominee will not be updated for RD booked through SMS. The customer can update the same through Net Banking or by visiting the nearest branch. 

Recurring Deposits will get booked in a holding pattern the same as CASA a/c registered for SMS Banking. 

Recurring Deposit will be booked from account registered for SMS banking. 

Recurring Deposit can be booked only by mobile no. registered on SMS banking. 

Recurring Deposits will get booked on the account home branch registered for SMS Banking.  

Yes, if the customer is registered on SMS banking. 

If the aggregate interest that you are likely to earn for all your deposits held across branches in a customer ID is greater than ₹40,000 (₹50,000 for senior citizens) in a financial year, you become liable for TDS. 

Yes, you can submit 15G/H online via HDFC Bank NetBanking or by visiting any nearest HDFC Bank branch. 

Text Format to be used Resultant Action
BOOKRD RD will be booked with ₹21,000 for 12 months by default
BOOKRD <Amount> RD will be booked for the amount mentioned with default tenure as 12M
  Example: BOOKRD 8000 to 5676712
BOOKRD <Amount> <Tenure> RD will be booked for the mentioned amount & tenure
  Example: BOOKRD 10000 24M to 5676712

A recurring deposit cannot be liquidated partially and can only be fully withdrawn before maturity. However, the following premature liquidation clause applies: 

Premature Liquidation: Effective from December 1, 2006, the interest rate applicable for premature closure of deposits (for all amounts) will be the lower of: 

  • The original rate at which the deposit was booked, OR 

  • The base rate applicable for the tenure of the deposit has been in force with the bank.  

  • The base rate is the rate applicable to deposits of less than ₹2 Crore on the date the deposit is booked. 

  • The minimum tenure for earning interest on an NRE Recurring Deposit is 1 year. No interest will be paid if the NRE Recurring Deposit is prematurely withdrawn before 1 year.