HDFC FD Calculator

HDFC, one of the country’s largest privately-owned financial organizations, has a wide array of Fixed Deposit plans. To invest in such a financial instrument and create better plans for the future, you need the services of a HDFC FD calculator. Groww provides you with an easy-to-use calculator which can help you determine how much your investment will amount to after a certain period.

Fixed Deposits have long been the cherished investment avenues for generations of Indians. Currently, the FD interest rates HDFC offers is 5.50% for the general public while senior citizens can avail interest rates of up to 6.25%.

Also, by using the HDFC bank FD calculator, you can determine which existing schemes are ideal for you and how long you have to continue the fixed deposit to reap the dividends you want.

Also Read, HDFC FD Interest Rates

How can the HDFC FD calculator help you?

Simply put, any FD calculator has one significant advantage: it helps in determining how much an asset like an FD will fetch after maturity.

Here are some reasons why you should use the HDFC FD interest calculator. 

1. Such a financial tool saves you time and other resources when it comes to calculating returns on investment.
2. Since HDFC is a competent financial establishment, it frequently updates its policies, terms and conditions and interest rates. As of July 2019, FDs with tenure of 6 months or more provide quarterly interest returns while simple interest is calculated for those with less than 6 months of tenure.
3. The calculator will also help you assess the date of maturity as well as the total amount.
4. You need a capable HDFC FD rate calculator also because on maturity, FDs become eligible for TDS. The rate of taxation will increase if your PAN is not mentioned. Before you use the HDFC FD calculator, ensure all your financial details are accurate.
5. Note that you will have to file for tax exemption at the end of the Financial Year because you have already paid the taxes at source. You need to fill up Forms 16A and 26AS to claim this exemption. You need this financial tool to figure out how much you can claim as exemption.
6. Lastly, you can calculate returns based not only on time but also on the nature of FD- “short-term”, “reinvestment” and “pay out.”

Formula to determine HDFC FD returns

Like the various other types of calculators you will find at the end of this page, the FD calculator for HDFC uses a specific proprietary formula. You will need to put in deposit term, the specific type of FD you are investing in (Monthly payments/reinvestments/quarterly), the exact date on which the Fixed Deposit was initiated, the applicable interest rate and the total sum invested.

Then click on “calculate” and you will know how much return you are eligible for. It is a specialty of the online HDFC FD calculator 

Also Read, HDFC Bank FD Interest Rates

How to use the Groww’s HDFC FD online calculator

We have a very simplified and easy to access financial tool for you. The steps are –

Step 1: Input the initial investment amount , the tenure and the interest rate.

Step 2: The amount you will receive upon maturity will be reflected instantly

Advantages of using the calculator

Here are some main advantages when you use the HDFC FD interest rate calculator.

• Excellent user experience and reliability.
• You can decide whether to reinvest or withdraw the total sum post maturity.
• Helps you in financial planning for the long run.

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