Fixed Deposit Interest Rate: A big decision has been taken by HDFC Bank on the interest rates of fixed deposits. Know what this is.
HDFC Bank has changed the interest rates of fixed deposits (non-withdrawable FD). According to the official website of HDFC Bank, the new interest rates on these deposits (Fixed Deposit Interest Rate) have come into effect from 27 November 2023. After the latest change, HDFC Bank is now giving 7.45 percent return on FDs with a tenure of one to two years and 7.2 percent on FDs with a tenure of two years to ten years. Read in detail how much interest will now be available on FD from 1 year to 10 years.
Interest rate on FD up to Rs 2 crore (HDFC Bank Latest FD Rates)
On FD from 1 year to 15 months – 7.45 percent
On FD from 15 months to 18 months – 7.45 percent
On FD from 18 months to 21 months – 7.45 percent
On FD from 21 months to 2 years – 7.45 percent
On FD from 2 years, 1 day to 3 years – 7.2 percent
On FD from 3 years 1 day to 5 years – 7.2 percent
On FD from 5 years, 1 day to 10 years – 7.2 percent
What is non-withdrawable FD?
These term deposits cannot be closed by the depositor before the end of the tenure. However, the Bank may allow premature withdrawal of these deposits in exceptional circumstances, such as in case of a claim by a court, bankruptcy or in case of death.
In case of premature withdrawal of these deposits (except in case of deceased claim settlement), the Bank does not pay any interest on the principal amount of the deposit. Any interest credited or paid till the date of premature closure is recovered from the deposited amount. Whereas in case of death claim, interest is paid in case of premature withdrawal from FD.
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