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HDFC Cuts interest Rates On Fixed Deposits
The Housing Development Finance Corp (HDFC) Ltd has lowered fixed deposit interest rates by 10 to 20 basis points with effect from 22 October. This is the fourth time since June that the housing finance company has reduced its deposit rates, in line with a cut in repo rates by the Reserve Bank of India (RBI) amid the coronavirus pandemic.
HDFC regular fixed deposits up to Rs 2 crore:
| Period | Monthly Income Plan | Quarterly Option | Half-Yearly Option | Annual Income Plan | Cumulative Option |
|---|---|---|---|---|---|
| 12-23 Months | 5.45% | 5.50% | 5.55% | - | 5.65% |
| 24-35 Months | 5.45% | 5.50% | 5.55% | 5.65% | 5.65% |
| 36-59 Months | 5.75% | 5.80% | 5.85% | 5.95% | 5.95% |
| 60-84 Months | 5.85% | 5.90% | 5.95% | 6.05% | 6.05% |
| Minimum Amount (Rs) | Rs 40,000 | Rs 20,000 | Rs 20,000 | Rs 20,000 | Rs 20,000 |
HDFC premium fixed deposits up to 2 crore:
| Period | Monthly Income Plan | Quarterly Option | Half-Yearly Option | Annual Income Plan | Cumulative Option |
|---|---|---|---|---|---|
| 15 Months | 5.50% | 5.55% | 5.60% | - | 5.70% |
| 22 Months | 5.60% | 5.65% | 5.70% | 5.80% | 5.80% |
| 30 Months | 5.55% | 5.60% | 5.65% | 5.75% | 5.75% |
| 44 Months | 5.90% | 5.95% | 6.00% | 6.10% | 6.10% |
HDFC special fixed deposits up to 2 crore:
| Period | Monthly Income Plan | Quarterly Option | Half-Yearly Option | Annual Income Plan | Cumulative Option |
|---|---|---|---|---|---|
| 33 Months | 5.65% | 5.70% | 5.75% | 5.85% | 5.85% |
| 66 Months | 6.05% | 6.10% | 6.15% | 6.25% | 6.25% |
Story first published: Wednesday, October 21, 2020, 15:02 [IST]
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