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HDFC Bank revises interest rates on non-withdrawable FDs
March 30, 2023
The largest private sector lender HDFC Bank has revised its interest rates on non-withdrawable fixed deposits (FDs). Deposits that cannot be prematurely withdrawn from the bank are known as non-withdrawable or non-callable deposits.
Consequently, HDFC Bank is now providing a maximum interest rate of 7.90% on these deposits. The interest rates for non-withdrawable fixed deposits are effective as of today, March 29, 2023, according to the bank’s official website.
On non-withdrawable fixed deposits of ₹2 crore to ₹5 crore maturing in 1 year to 2 years, the bank is offering an interest rate of 7.35% and on those maturing in 2 years 1 day to 3 years, HDFC Bank is offering an interest rate of 7.30%.
Deposits maturing in 3 years 1 day to 10 years will fetch an interest rate of 7.25%. On non-withdrawable fixed deposits of more than ₹500 Cr, the bank is offering a maximum interest rate of 7.90% on a tenor of 1 year to less than 15 months.
“The Fixed Deposits does not have any premature withdrawal facility i.e. the Fixed Deposits cannot be closed by the depositor before expiry of the term of such deposit. However, the Bank may allow premature withdrawal of these deposits in the exceptional circumstance such as in the event of any direction from any judiciary /statutory and / or regulatory authorities cases or deceased claim settlement cases,” HDFC Bank has mentioned on its website.
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