HDFC - New net banking

[H2O]

It seems HDFC is rolling out new net banking.

URL - https://now.hdfcbank.com/

 

[Astromit]

Looks like getting superb benefit 1 lakh to 18.96 lakh
Seems like a steal deal no bank or stock gives out this insane fixed return in a short period
😂😂😂
Lucky if bank credits that money at maturity

It's not FD, it's RD.
1 lakh per month for 1y6m that is 18 lakh itself and rest 96k is interest.

 

[tharun]

It's not FD, it's RD.
1 lakh per month for 1y6m that is 18 lakh itself and rest 96k is interest.

Yes got it
Why should we use this feature when we can deposit each rd as new fixed deposit. Is it it just ease of convenience just make small monthly deposit and convert to a big fixed deposit after a certain period of timeframe

 

[techie_space]

Yes got it
Why should we use this feature when we can deposit each rd as new fixed deposit. Is it it just ease of convenience just make small monthly deposit and convert to a big fixed deposit after a certain period of timeframe

Bro... You REALLY need to check the difference between FD and RD.... (No offense)
Both are not same.
Just to throw some light
Your 2nd installment of RD matures at same date as of 1st installment (In that case, all the installments)
Where as in 2nd case of each one being an FD of it's own, each will mature at different dates.

 

[tharun]

Your 2nd installment of RD matures at same date as of 1st installment (In that case, all the installments)

Many banks have option to change the tenure of you select January for 1 year and Feb for 11 months and March for 9 months you will get the money on same date(this approach actually isn't very useful)

Both are not same.

I never claimed or said they are same . Many banks usually gives out pretty good returns on FD but same can't be said for RD

Where as in 2nd case of each one being an FD of it's own, each will mature at different dates.

If you need return my way is good if you need lumpsum it's fine for rd

Your 2nd installment of RD matures at same date as of 1st installment (In that case, all the installments)

So just to get lumpsum money you are doing RD right