With recurring deposits (RD), you can save consistently and receive interest over a predetermined period in a disciplined manner. With consistent monthly deposits into an RD account, you can gradually accumulate a sizable savings account over time. But do you know how to pay RD installment in HDFC? You can pay it online through the netbanking portal of HDFC or using their mobile app.
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How to Pay RD Installment in HDFC Online?
I have already shared the online steps earlier. So I am not mentioning it again. However, I am sharing an alternative method below for automating your RD payment.
During the RD account opening process, you can set up a Standing Instruction.
HDFC will automatically debit the specified installment amount from your savings account on the chosen date each month.
I hope you understand how to pay RD in HDFC.
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Before telling you how to pay RD in HDFC, let me tell you about Recurring Deposits first. RD is one of the greatest investing options. It is especially for those who wish to save and increase their wealth but have a small monthly investment budget. In a recurring deposit, a fixed installment is paid at certain times for a predetermined period. If you have opened RD in HDFC, you can easily pay the installments via net banking. Let me share the process with you.
How to Pay RD Installment in HDFC Online?
Open an RD account with HDFC if you don't already have one by going to your local HDFC branch or submitting an online application using HDFC Mobile Banking or HDFC Net Banking. The tenure, which can be anything from six months to ten years, and the monthly deposit amount are up to you to determine.
During the RD account setup, you can authorise an automatic debit from your HDFC savings account. This is the simplest way to make monthly RD payments:
Go to the HDFC Net banking portal or the Mobile Banking app.
Select "Recurring Deposit," under the "Fixed Deposit," section.
Enter the monthly installment amount and choose the auto-debit option, linking it to your HDFC savings account.
This will ensure that the specified amount is deducted automatically from your linked account each month.
Alternatively, you can follow the below process:
Login HDFC NetBanking.
Select “Accounts” and go to the “Recurring Deposit” section.
Choose the RD account and make the payment manually. Note that manual payments may require consistent reminders to avoid missed installments.
I hope you found this information helpful.
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How to Pay RD in HDFC?
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2024-10-30T16:22:14+00:00 2024-10-30T16:22:15+00:00Comment
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