HDFC Bank My Passion Fund is a flexi recurring deposit that helps you achieve your goals faster. It gives you the flexibility to decide the amount and frequency of your monthly deposits* Just set your target, the time frame, your desired fund name, and start saving up!

To open My Passion Fund, Login to NetBanking > Go to Transact > Open My Passion Fund

With HDFC Bank My Passion Fund, you can:

  • ​​​​​​Name your deposit after the passion you are saving up for
  • Flexibility to deposit money on availability of funds up to 3 times a month*
  • Maximum top up per month can be twice the instalment amount*
  • Minimum Top up value per month is Rs. 1000
  • Interest rate will be as per extant NRE/NRO deposit rates
  • Enjoy a complete online experience
  • Instalment can be deposited online post SI date if funds are available in account
  • Start my passion fund account with investment amounting to as small as Rs.1000 (and in multiples of Rs. 100 thereafter) or as large as Rs. 1,99,99,900 per month
  • Minimum tenure of NRO My passion fund account is 6 months and for NRE my passion fund account is 12 Months (and in multiples of 3 months thereafter) up to a maximum tenure of 10 years
  • Anytime top- up option available on the same account. To top up My Passion Fund, Login to NetBanking > Go to Transact > Top up/ Add to My passion Fund account 
  • Interest will be paid from the date of instalment/top-up amount paid
  • Premature liquidation option is available
  • Minimum Interest earning period is one month for NRO My passion fund account and 12 Months for NRE my passion fund account 

Additional Information


Payment of Interest on My Passion Fund

TDS will be deducted when interest payable for NRO My Passion Fund.  TDS is deducted at 30% plus applicable surcharge and cess. 

With effect from Oct 24, 2015, the following changes would be applicable to all My Passion Fund. Interest on a My Passion Fund will be calculated from the date the instalment is paid. The method of calculation of interest on RDs/My Passion Fund will be on Actual / Actual Quarterly Compounding. TDS on RD/My Passion Fund is applicable as per Finance Act 2015. TDS on RD/My Passion Fund will be recovered from the linked CASA.

For more details on rates and charges please click here to view Interest Rates

Payment of Installment

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


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 My Passion Fund 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. 

Overdue Installments

If frequent defaults (non-payments) are observed in monthly installments, and six installments fall in arrears, the Bank reserves the right to close the RD/My Passion Fund account. The interest rate applicable on such closed accounts will be as per the prevailing premature withdrawal policy of the Bank.