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HDFC Bank Revises Rates On These FDs: Check New Rates Here
For non-withdrawable fixed deposits, HDFC Bank is now offering a maximum return of 7.45 percent for tenures spanning one to two years, and 7.2 percent for durations ranging from two to ten years.
New Delhi: Recently, HDFC Bank has revised its interest rates on non-withdrawable fixed deposits. This adjustment precedes the upcoming bimonthly monetary policy meeting of the Reserve Bank of India (RBI), where the Monetary Policy Committee (MPC) is anticipated to maintain the repo rate amid favorable inflation figures.
For non-withdrawable fixed deposits, HDFC Bank is now offering a maximum return of 7.45 percent for tenures spanning one to two years, and 7.2 percent for durations ranging from two to ten years. (Also Read: Latest FD Rates 2023: BoB vs BOI vs SBI Fixed Deposit Interest Rates Compared)
Non-withdrawable fixed deposits are considered a secure investment option, providing a higher rate of return compared to regular fixed deposit accounts. Importantly, these fixed deposits lack a premature withdrawal facility, meaning depositors cannot close them before the designated term. (Also Read: Types Of Credit Cards In India: Check Features And Benefits)
The revised interest rates are applicable for non-withdrawable domestic/NRE/NRO term deposits for amounts equal to or exceeding Rs 2 Crore.