With HDFC Bank's Recurring Deposit, you can:

  • An investment as small as Rs. 500 (and in multiples of Rs. 100 there after) or as large as Rs. 2,99,99,900 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.

Important Information


  • 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 Rs.40000 (Rs.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 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.

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.


  • 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

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 account. The interest rate applicable on such closed accounts will be as per the premature withdrawal policy of the Bank.

Nomination Facility through NetBanking

You can now make a nomination while booking Recurring deposits through NetBanking

If you are booking a Recurring Deposit on NetBanking on a single name, then you can either select the nomination made in the base Savings account or add a new nominee. 

If you are booking a Recurring Deposit on NetBanking in a Joint name, then you can only select the nomination made in the base Savings account. In a joint holding Recurring Deposit, if you wish to add a new nominee, then you will need to visit the branch. 

For existing single holding Recurring Deposits, Customers can add a new nominee or modify a nominee through NetBanking instantly.

For existing joint holding Recurring Deposits, Customers can download the filled Nomination form from NetBanking, take signatures from all holders, and submit it at nearest HDFC bank branch, for updating in our systems.