New Delhi: HDFC Bank has revised fixed deposit interest rates effective today, April 20, 2022.
The HDFC bank website has announced the revision of the interest rates for non-redeemable domestic/NRE/NROTERM deposits for amounts equal to or greater than Rs 5 crore on 20 April 2022. (Also read: IPO-linked LIC sold 41 policies per minute in FY22)
View the full pricing table here
HDFC bank in its note states that fixed deposits do not have any facility for premature withdrawal, i.e. fixed deposits cannot be closed by the depositor before the expiry of the term of such deposit . However, the Bank may authorize the early withdrawal of such deposits in exceptional circumstances such as in the event of an instruction from judicial/statutory and/or regulatory authorities or cases of deceased claim settlement.
In the event of early withdrawal of these deposits in the exceptional circumstances mentioned above (except in the case of settlement of a deceased claim), the Bank will not pay any interest on the principal amount of the deposit. Any interest credited or paid up to the date of this early closing will be recovered from the deposit, adds the Bank
The non-withdrawable deposit is offered for an amount of 5 crore and above only. The above base rate will only be applicable if the minimum single deposit size is 5 crore.