HDFC Bank offers an interest rate of 4% per annum for domestic, NRE and NRO accounts.  The rate is subject to change at any time.

The savings bank interest is

a.calculated on the basis of the daily balance maintained in the account

b.paid at half-yearly intervals  on 30th September and 31stMarch each year. 

HDFC Bank Interest rate on savings account

Most banks, including HDFC Bank, offer an interest rate of 4% p.a. on savings bank accounts. Earlier, the RBI had laid down a uniform interest rate on savings accounts for all banks which meant that there was no difference in the amount you earned as interest, regardless of which bank you had your money in. However, the RBI now allows banks to set their own interest rates for money held in savings accounts. This has led to more competition, and while some banks offer an interest rate of between 5-7% per annum, many banks in India continue to offer a standard rate of 4% per annum.

How do you calculate the interest you earn on the money in your account? If, for instance, you have Rs 50,000 in a savings account and your bank offers an interest rate of 4% per annum, you will earn Rs 2000 a year in interest. (4% of 50,000 = 2000.)  You can use a calculator to learn what you will receive for a particular sum, for a specific tenure and interest rate.

Interest calculated on daily balance: In addition, now the interest is calculated on the basis of the daily balance in your account as opposed to the earlier system which was calculated based on the minimum amount you had in your account in the month. So now you earn money for every rupee that you keep in your account.

The interest earned on money in a savings account is usually paid out twice a year and credited to your account directly.

Additional Reading: HDFC Bank Saving Account Interest Rate

HDFC Bank interest on fixed deposits

In general, the interest rates on a fixed deposit range from 4-9% per annum, depending on the tenure of the deposit and the issuer.

It is simple to calculate the interest you will earn on an FD. Many banks offer an online Fixed Deposit calculator tool which helps you calculate the returns on your deposit. All you need to do is to enter some basic details including the deposit amount, deposit tenure and interest rate offered on the chosen FD scheme. The calculator will let you know how much you will earn as interest on maturity of your deposit.

You can use the interest calculator to check the interest returns on the FD schemes offered by different banks so that you can make an informed decision while choosing between the various options. 

Fixed deposits are offered by banks and non-banking financial institutions as well as corporates. The interest you earn will vary based on the

a. The tenure of the deposit

b. The amount you deposit

c. The interest rate offered.

The interest rate in turn varies depending on the issuer’s internal policies and government regulations.  For example, senior citizens enjoy a higher interest rate in India.

Additional Reading: HDFC Bank Fixed Deposit Rate