https://www.hdfcbank.com/personal/save/deposits/recurring-deposit

Features

With HDFC Bank's Recurring Deposit, you can:

An investment as small as Rs. 1000 (and in multiples of Rs. 100 thereafter) or as large as Rs. 1,99,99,900 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 UPDATE:

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.

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