1. What is HDFC Fixed Deposit Interest?

HDFC Fixed Deposit interest is the return earned on money deposited with HDFC Bank for a fixed tenure at a predetermined interest rate. The interest can be calculated using the simple formula: Interest = Maturity Amount (FV) - Principal Amount (PV).

2. How Does the Calculator Work?

The calculator uses the simple interest formula:

Where:

• \( FV \) — Future Value or Maturity Amount ($)
• \( PV \) — Present Value or Principal Amount ($)

Explanation: The difference between the maturity amount and principal amount gives the total interest earned over the deposit period.

3. Importance of Interest Calculation

Details: Calculating fixed deposit interest helps investors understand their returns, compare different investment options, and plan their finances effectively.

4. Using the Calculator

Tips: Enter the principal amount and maturity amount in dollars. Both values must be positive numbers, and the maturity amount should be greater than or equal to the principal amount.

5. Frequently Asked Questions (FAQ)

Q1: What is the current HDFC FD interest rate?
A: HDFC FD rates vary by tenure and customer type (regular/senior citizen). Check HDFC's official website for current rates.

Q2: How is interest paid on HDFC FDs?
A: Interest can be paid monthly, quarterly, half-yearly, annually, or at maturity, depending on the option chosen.

Q3: Are HDFC FD interest rates fixed?
A: Yes, the rate is fixed at the time of deposit for the entire tenure.

Q4: Is TDS deducted on HDFC FD interest?
A: Yes, TDS is deducted if interest exceeds ₹40,000 (₹50,000 for senior citizens) in a financial year.

Q5: Can I withdraw my HDFC FD before maturity?
A: Yes, but premature withdrawals may attract penalty charges and lower interest rates.