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Monday, October 25, 2021

Good news for HDFC customers, FD will now get more interest; Check new rates

HDFC FD Rates: There is good news for customers of HDFC Ltd, the country’s largest provider of home loan. HDFC Limited has increased the interest rate on fixed deposits of different periods by 0.25 per cent. The new interest rates have become effective from March 30. HDFC has taken this step at a time when banks are reducing interest rates on fixed deposits. The company has given this information on its website. Explain that since last year, the RBI has kept the repo rate at the lower levels, due to which the bank has continuously cut the FD rates.

How much interest on which scheme

  • For fixed deposits of up to Rs 2 crore with 33 months maturity, the annual interest rate will be 6.20 percent.
  • The interest will be 6.60% on fixed deposits of 66 months maturity.
  • While the interest rate on fixed deposits with maturity of 99 months is 6.65 per cent.
  • The senior citizen will get 0.25 percent more interest than the normal rate of interest.

AAA rating

HDFC Limited has a superior rating from rating agencies. Crisil and ICRA have given the company a Triple A (AAA) rating. He has made this rating for 25 years. HDFC’s financial position is also good.

Please tell that HDFC has FD scheme with maturity ranging from 12 months to 84 months.
Apart from this, you can choose monthly, quarterly, half-yearly or annual payment options based on the need. Investment up to Rs 1.5 lakh in 5-year FD is exempted under section 80C of the Income Tax Act. The first withdrawal of maturity is taxed.

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Nisha Chawlahttps://www.businesskhabar.com/
She is an expert in Banking, Finance and working with an international bank. She sharing her ideas and knowledge with Business Khabar.
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