Let money not be a hindrance in you pursuing your passion.
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 deposit rates
  • Enjoy a complete online experience
  • No SI failure charge
  • Instalment can be deposited online post SI date if funds are available in account
  • Make investments as small as Rs.1000 (and in multiples of Rs. 100 thereafter) or as large as Rs. 14,99,900 per month
  • Minimum tenure of 6 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
  • Interest will be paid from the date of instalment/top-up amount paid
  • Premature liquidation option is available
  • No penalty on premature withdrawal
  • Minimum Interest earning period is one month

Regulatory Information  


  • TDS on RD/My passion Fund accounts (if applicable) will be recovered on RD/My Passion Fund interest if Savings/Current accounts linked to RD/My Passion Fund are not maintained, effective 4th Feb'2018

​​​​​​​Additional Information

​​​​​​​Payment of Interest on My Passion Fund

  • TDS will be deducted when interest payable or reinvested on RD, My Passion Fund and FD per customer across all branches, exceed Rs.40000 (50,000 for senior citizens) in a financial year
  • The interest rates for My Passion Fund 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 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.

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

  • My Passion Fund 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 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 premature withdrawal policy of the Bank.


Rates & Charges