HDFC Bank Recurring Deposit
 

Would you please gather information about Recurring Deposit facility offer to customers by HDFC Bank?

Re: HDFC Bank Recurring Deposit
 

As per your concern I will gather information of HDFC Bank, Recurring Deposit facility so that you can have idea about such deposit.

Features of recurring deposit
An investment as small as Rs. 1000 (and in multiples of Rs. 100 there after) or as large as Rs. 14,99,900 per month

A minimum tenure of 6 months (and in multiples of 3 months thereafter) up to a maximum tenure of 10 years.

For NRI customers, the minimum tenure of RD is 12 months.

For a much smaller investment per month, get interest rates equal to that of regular Fixed Deposits.

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 installments still to be paid.

The maturity amount mentioned on the Recurring deposit confirmation advice is subject to the payment of all installments on time

In case of any delay in the payment of scheduled installments, the maturity amount shall change

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 Rs.10000 in a financial year

The interest rates for recurring deposits will be the same as the rate applicable for a simple Fixed Deposit.

Benefits
For a much smaller investment per month, get interest rates equal to that of regular Fixed Deposits.

Ease to submit 15G/H form through Netbanking

Set instructions to convert your RD into an FD at maturity

Eligibility
Resident individuals

Hindu Undivided Families

Private & Public Limited Companies

Trust & Societies


Address:-
HDFC Bank
1st Floor,C.S.No.6/242,
Senapati Bapat Marg,
Lower Parel,
Mumbai - 400 013.