HDFC Bank, the country's largest bank, has recently changed the interest rates on FD. According to the official website of HDFC Bank, all these rates have come into effect from 27 November 2023. The bank also said that the facility of pre-mature withdrawal is not provided in non-withdrawal FDs.
It is mandatory for investors to invest in these FDs for at least 1 year. Along with this, investors can also invest in the non-resident category. FD interest rates were again changed by the bank. After this change, the latest FD rate is a maximum of 7.45 percent on FDs of 1 to 2 years and 7.2 percent on FDs of 2 to 10 years.
HDFC Bank's Latest FD Rates
Now customers will get interest ranging from 3 percent to 7.20 percent on FD of 7 days to 10 years. At the same time, in this FD, senior citizens will get interest ranging from 3.5 percent to 7.75 percent. These rates have come into effect from 1 October 2023. Similarly, the interest rates on non-withdrawal FDs up to Rs 2 crore have also been revised. According to the latest rate of HDFC Bank, the interest rate of 7.45 percent will be available on FD of 1 year 15 days, 15 months to 18 months, 18 months to 21 months, and 21 months to 2 years.
At the same time, investors will be given interest rate of 7.2 percent on FDs of 2 years 1 day to 3 years, 3 years 1 day to 5 years and 5 years 1 day to 10 years.
What is non-withdrawal FD?
Non-withdrawal FD is a type of term FD. Investors in this FD cannot withdraw before maturity. Yes, in some emergency situations, the amount deposited in the fund can be used for settlement. In the case of pre-mature, the bank does not have to pay any interest on the principal amount.
After the death of the investor, the amount deposited in the FD goes to the nominee.
