HDFC Bank FD Rate: HDFC Bank, one of the largest private banks in the country, has changed the interest rates on FD deposited with it. This information has been given by the bank on its website. The new bank rates have been released from 27 November 2023.
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minimum deposit period changed
HDFC Bank has made slight changes in its NRI FD rules and reduced the minimum deposit period to one year. This means that now the NRI customer will have to deposit money in the bank for at least one year. Along with this, investors can also invest in non-resident category.
Money will not be received before maturity
According to the official website of HDFC, there is no facility of withdrawal before maturity in non-withdrawable FD. This strict action of the bank is expected to affect the customers.
What is the return on investment in one to two years?
While changing its FD rates, the bank has decided to pay maximum interest of 7.45 percent on FDs of 1 to 2 years. Whereas, if FD is made for 2 years, 1 day to 3 years, customers will get 7.2% interest.
This much interest will be available on deposit period of 10 years
HDFC Bank has fixed the interest rate on FD of three years to five years at 7.2 percent. Whereas, the interest rate on deposits for the period from 5 years 1 day to ten years has been fixed at 7.2%.
What is non-withdrawal FD?
Non-withdrawal FD is a kind of special investment plan in which you cannot withdraw money before maturity. However, in case of emergency, the amount deposited in the fund can be used for settlement. In case of pre-mature, the bank does not have to pay any interest on the principal amount.
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