Good news for FD owner, HDFC increased interest rates on FD
Find Digitally ~ 7th August, 2018
Following the increase in the repo rate by the Reserve Bank of India (RBI), the largest private sector HDFC Bank has increased the interest rate on fixed deposit (FD) by 60 basis points on Monday. It has been enhanced only for select maturity on the deposit of fixed deposits. According to the HDFC Bank website, the increased rates have been implemented from Monday. According to the bank, an interest rate of FD has been increased from 10 basis points (BPS) to 60 basis points. From 6th August 2018, customers of the bank will get interested at this rate.
The bank has increased the interest rate on deposits for a period ranging from 6 months, 5 days and 5 years. In 6 to 9 months, interest will be charged at the rate of 6.75 percent, which is 40 basis points higher than the previous rates. 9 months to 3 days to less than one year fixed deposits increased the interest rate by 60 basis points For the period of one year, it has been increased from 40 basis point to 7.25 percent. At the same time, the interest rate has been increased to 10 basis points (0.10 percent) for fixed deposits of 2 years, one day to five years.
SBI increased interest rates on retail deposits, increased by 5 to 25 basis points. Read also: SBI increased interest rates on retail deposits, increased by 5 to 25 basis points. Read also: RBI raised the repo rate that is the last The RBI has increased policy rates in days. The central bank has increased the repo rate from 6.25 percent to 6.50 percent and reverse repo from 6 percent to 6.25 percent.
For information, let me tell you that the increase in repo rate means that the loan from the bank is considered to be expensive. RBI's MPC meeting begins today, read what is called on the increase in policy interest rates Experts also read: & nbsp; HDFC AMC's bumper listing, with the buoyancy of 58%, the knock on the broker street by Nitesh.
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