hdfc bank interest rates on fixed deposit

This would further help depositors choose the optimum FD scheme after considering the above-mentioned FD schemes.

Using an FD calculator can help depositors calculate and compare maturity amounts and interest income after considering FD features like tenure, interest rate, payout option and compounding frequency (quarterly, half-yearly, annual compounding) offered by various banks and NBFCs/HFCs. Make comparisons for FD selection: FD interest rates vary across banks and NBFCs/HFCs. Know the maturity amount: Before investing in an FD scheme, prospective depositors should know the expected amount in advance so as to determine whether the investment scheme will serve their investment goals at maturity or not.Īccurate calculation: Using an online FD calculator for calculating FD interest amount and maturity amount saves depositors from complex calculations and eliminates the risk of error caused due to miscalculations. Users are usually required to enter a few basic details such as the principal amount, FD tenure and compounding frequency (quarterly, half-yearly and annual compounding) in the online calculator to get results. Using a fixed deposit calculator can benefit depositors in the following ways:Įasy to use: Using an online FD calculator for FD maturity and interest computation is easy. The reinvestment or cumulative investment option would help the depositor benefit from the power of compounding, as the interest component remains invested in the FD and starts generating interest income on its own. Monthly interest plans are ideal for retired individuals or for depositors who need a fixed monthly income to meet their daily expenses. In the case of the cumulative FD option, the interest component remains invested till the FD maturity. Depending on the lenders, depositors can also opt for monthly, half-yearly and annual interest pay-out options of various FD tenures. Under non-cumulative FD, lenders usually offer a quarterly interest pay-out option for all tenures wherein the interest is credited quarterly to the current/savings account of the depositor.

Note: The FD maturity amount would depend on the deposit amount, FD rates, tenure and type of FD chosen, i.e., cumulative FD and non-cumulative FD. To use Paisabazaar Fixed Deposit Calculator, follow these steps:Įnter the tenure in months or years (the period for which you want FD to be active)Ĭlick the “Calculate” button to get the estimated maturity amount and total interest amount

Hdfc bank interest rates on fixed deposit