Question

What is the rate ofcalculation for fd in hdfc bank either simple interest or compund interest

Answer 1

Answer:

hey here is your answer

There are two methods used to calculate interest on a fixed deposit: Simple Interest and Compound Interest. Banks may use both depending on the tenure and the amount of the deposit. What is the difference between the two? With simple interest, interest is earned only on the principal amount.

hope it help you ☺️