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%