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HDFC Cuts interest Rates On Fixed Deposits

By Staff
|

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 Cuts interest Rates On Fixed Deposits
 

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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