The Interest Rates on the deposits has was cut by the HDFC bank. It was applicable to the deposits that will mature in one or two years. However, the interest rates of the earlier deposits have not been changed. The interest rates have been revised by the HDFC bank. The new rates will come to effect from November 13.
As per the latest revision, the bank is offering a 2.5% Interest rate on deposits that mature between 7-29 days. A 3% interest rate for deposits maturing between 30-90 days.
An Interest rate of 4.9% was charged for interest rates that would mature in one year. For the deposits that will mature between 1-2 years the interest rates have been cut by 10 bps. It is now 4.9%.