HDFC Bank FD Calculator
HDFC Bank FD Calculator
HDFC Bank offers various fixed deposit (FD) schemes to its customers. The HDFC Bank FD Calculator is an online tool that helps customers to calculate the interest earned and maturity amount for different FD schemes offered by HDFC Bank. The calculator takes into account the principal amount, tenure, and interest rate applicable to the FD scheme to calculate the maturity amount.
The formula used by the HDFC Bank FD Calculator to calculate the maturity amount is:
Maturity Amount = P * (1 + r/n)^(n*t)
P = Principal amount
r = Rate of interest
n = Compounding frequency
t = Tenure in years
The interest earned on the FD is calculated as the difference between the maturity amount and the principal amount.
It’s important to note that the interest rates offered by HDFC Bank on FDs are subject to change and may vary based on the tenure and amount of investment.
HDFC Bank FD
HDFC Bank offers fixed deposit (FD) schemes to its customers with attractive interest rates and flexible tenures. HDFC Bank FDs can be opened for a minimum deposit amount of Rs. 5,000 and for tenures ranging from 7 days to 10 years.
HDFC Bank offers the following types of FD schemes:
- Regular Fixed Deposit: This is a standard FD scheme where the interest is paid either monthly or quarterly or annually. The interest rates are fixed at the time of deposit and remain constant throughout the tenure of the FD.
- Sweep-in FD: This is a special type of FD scheme where the FD is linked to the customer’s savings or current account. In this scheme, the funds in the savings or current account are automatically transferred to the FD to earn a higher interest rate. The funds can be easily accessed by the customer in case of emergencies.
- Super Saver FD: This is a flexible FD scheme where the customer can withdraw a part of the funds from the FD without breaking the entire FD. The interest rates are higher than regular savings accounts and the customer can earn more interest on their deposits.
- Tax Saving FD: This is a special type of FD scheme where the customer can invest in the FD to save taxes under Section 80C of the Income Tax Act. The minimum lock-in period for this FD is 5 years and the interest rates are fixed at the time of deposit.
The interest rates offered on HDFC Bank FDs are subject to change and vary based on the tenure and amount of investment. HDFC Bank offers senior citizens higher interest rates on their FDs. Customers can use the HDFC Bank FD calculator to calculate the maturity amount and interest earned on their FDs.