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The private sector lender HDFC Bank has revised its interest rates on non-withdrawable domestic, NRE and NRO term deposits. According to the bank, the new rates are effective as of 5th Jan 2022. On the other hand, effective as of January 1, 2021, the bank has also altered its interest rates on withdrawable domestic, NRE, and NRO term deposits of more than or equal to Rs. 5 Cr. The new bank interest rates on these deposits are discussed here.
HDFC Bank Non-withdrawable Fixed Deposit Interest Rates
HDFC Bank is currently giving the following interest rates on non-withdrawable domestic, NRE, and NRO term deposits of more than or equal to Rs. 5 Cr maturing in 91 days to 10 years, effective January 5, 2022. Fixed Deposits do not allow for early withdrawal, which means that the depositor cannot terminate the account before the period of the deposit has expired.
Furthermore, in extraordinary circumstances, such as in the event of any directive from any judiciary/statutory and/or regulatory bodies instances or dead claim settlement situations, the bank may enable premature withdrawals. The bank will not pay interest on the principal amount of these deposits if they are prematurely withdrawn under the above-mentioned unusual circumstances.
Any interest credited or paid up to the date of the deposit's premature closure will be reclaimed by the bank. Interest will be paid to the claimant or nominee if these FDs are prematurely withdrawn owing to a death claim on behalf of a primary account holder. The contracted rate or the base rate applicable for the duration the deposit has been maintained with the bank, whichever is lower, shall apply to such withdrawals.
| Period | 5 Cr to 5.25 Cr | 5.25 Cr 5.50 Cr | 5.50 Cr to 24.75 Cr | 24.75 Cr to 25 Cr | Rs 25 Cr to 50 Cr | Rs 50 Cr to 75 Cr | Rs 75 Cr to 100 Cr | 100 Cr to 150 Cr | 150 Cr to 200 Cr | More than Rs 200 Cr |
|---|---|---|---|---|---|---|---|---|---|---|
| 91 days | 3.75% | 3.75% | 3.75% | 3.75% | 3.75% | 3.75% | 3.75% | 3.75% | 3.75% | 3.75% |
| 6 months 1 day | 4.00% | 4.00% | 4.00% | 4.00% | 4.00% | 4.00% | 4.00% | 4.00% | 4.00% | 4.00% |
| 9 months 1 day to | 4.15% | 4.15% | 4.15% | 4.15% | 4.15% | 4.15% | 4.15% | 4.15% | 4.15% | 4.15% |
| 1 Year to 2 years | 4.50% | 4.50% | 4.50% | 4.50% | 4.50% | 4.50% | 4.50% | 4.50% | 4.50% | 4.50% |
| 2 years 1 day to 3 years | 4.60% | 4.60% | 4.60% | 4.60% | 4.60% | 4.60% | 4.60% | 4.60% | 4.60% | 4.60% |
| 3 year 1 day to 5 years | 4.70% | 4.70% | 4.70% | 4.70% | 4.70% | 4.70% | 4.70% | 4.70% | 4.70% | 4.70% |
| 5 year 1 day to 10 years | 4.70% | 4.70% | 4.70% | 4.70% | 4.70% | 4.70% | 4.70% | 4.70% | 4.70% | 4.70% |
| Source: Bank Website. W.e.f. January 5, 2022 |
HDFC Bank Withdrawable Fixed Deposit Interest Rates
Effective January 1, 2022, HDFC Bank is offering the following interest rates on withdrawable domestic, NRE, and NRO term deposits of more than or equal to Rs. 5 Cr maturing in 91 days to 10 years. Customers should be mindful that if the NRE deposit is withdrawn before the first year, no interest will be issued as NRE deposits have a one-year minimum tenure. A penalty of 1% will be deducted from the contracted rate or the base rate applicable for the duration the deposit has been maintained with the bank, whichever is lower if a fixed deposit is prematurely closed.
| Period | 5 Cr to 5.25 Cr | 5.25 Cr 5.50 Cr | 5.50 Cr to 24.75 Cr | 24.75 Cr to 25 Cr | Rs 25 Cr to 50 Cr | Rs 50 Cr to 75 Cr | Rs 75 Cr to 100 Cr | 100 Cr to 150 Cr | 150 Cr to 200 Cr | More than Rs 200 Cr |
|---|---|---|---|---|---|---|---|---|---|---|
| 7 - 14 days | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% |
| 15-29 days | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% |
| 30-45 days | 2.75% | 2.50% | 2.75% | 2.50% | 2.75% | 2.75% | 2.75% | 2.75% | 2.75% | 2.75% |
| 46-60 days | 2.75% | 2.50% | 2.75% | 2.50% | 2.75% | 2.75% | 2.75% | 2.75% | 2.75% | 2.75% |
| 61-90 days | 3.00% | 2.75% | 3.00% | 2.75% | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% |
| 91 days | 3.25% | 2.75% | 3.25% | 2.75% | 3.25% | 3.25% | 3.25% | 3.25% | 3.25% | 3.25% |
| 6 months 1 day | 3.50% | 3.00% | 3.50% | 3.00% | 3.50% | 3.50% | 3.50% | 3.50% | 3.50% | 3.50% |
| 9 months 1 day to | 3.65% | 3.00% | 3.65% | 3.00% | 3.65% | 3.65% | 3.65% | 3.65% | 3.65% | 3.65% |
| 1 Year to 2 years | 4.00% | 3.20% | 4.00% | 3.20% | 4.00% | 4.00% | 4.00% | 4.00% | 4.00% | 4.00% |
| 2 years 1 day to 3 years | 4.50% | 3.20% | 4.50% | 3.20% | 4.50% | 4.50% | 4.50% | 4.50% | 4.50% | 4.50% |
| 3 year 1 day to 5 years | 4.60% | 3.20% | 4.60% | 3.20% | 4.60% | 4.60% | 4.60% | 4.60% | 4.60% | 4.60% |
| 5 year 1 day to 10 years | 4.60% | 3.20% | 4.60% | 3.20% | 4.60% | 4.60% | 4.60% | 4.60% | 4.60% | 4.60% |
| Source: Bank Website. W.e.f. January 1, 2022 |
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