If you are also a customer of HDFC Bank, then this news is very important for you. Actually, after increasing the interest rate by SBI and ICICI Bank, now HDFC has increased the interest rate. But special types of people will get their benefit.
HDFC Bank FD Interest Rate: After SBI and ICICI Bank, the leading private sector HDFC Bank has given a gift to the customers. Before Holi, now the interest rate has been changed by HDFC Bank. Earlier, SBI and ICICI raised interest rates, giving good news to customers. It was told by the bank that the new rates will be effective from March 1, 2022. But only a few special people will get the benefit of these rates.
New rates applicable on amount of Rs 5 crore or more
HDFC has changed the rates of non-withdrawable FDs. The new rates will be applicable only on FDs with an amount of Rs 5 crore or more. Apart from the customers residing in India, NRO and NRE will also get the benefit of this. Let’s know the new rates and how much has changed?
3 to 10 years limit
In the information given by the bank, 4.7% interest will be given on FD from Rs 5 crore to Rs 200 crore. Its limit is for 3 to 10 years. FDs of more than 2 years and less than 3 years will earn an interest of 4.6%.
No change on less than 5 crores
An investor will get 4.55 percent interest on FD of less than one year to two years. FDs of 9 months or more and less than one year will get 4.15% interest. There is no change in the interest rate on fixed deposits of less than 5 crores.
What is Non-Withdrawal FD?
In normal FD, there is an option to withdraw money before maturity. But in Non-Withdrawal FD, there is no option to withdraw before the completion of time (before maturity). This type of FD cannot be closed prematurely by the customer. However, there is an exemption in some special circumstances. But in such a situation, the bank does not pay any interest on the principal amount.
