what is RD installment in HDFC?
Hi kashish,
When you open an RD, you agree to deposit a fixed amount every month for a fixed period (say 1 year, 2 years, 5 years etc). This fixed monthly payment is called your RD installment.
For example:
If you start an RD in HDFC Bank with ₹5,000 per month for 2 years then ₹5,000 is your RD installment. Every month, on the date you choose (say 5th of each month), HDFC will automatically deduct ₹5,000 from your savings account and deposit it into your RD