If you have an account in HDFC, read it carefully
February 03, 2018 |
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If you have an account in HDFC, read it carefully
NEW DELHI: Private sector HDFC has cut the interest rate on the bank’s savings bank account from 0.50 percent to 3.5 percent. The cut has been done on deposits upto 50 lakh rupees. The bank will provide interest of 4% on account of deposits of more than Rs 50 lakhs.
However, an HDFC Bank official said, “After saving rates, if the customer pays 50 lakh rupees or more in your account, then the interest will be 4% per year. Those customers will be less than 50 lakhs in the account, they will earn 3.5% interest in the year. New rates will be effective from August 19th. ‘
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It is to be mentioned that before this, SBI had reduced the interest rate by 0.5 percent to 3.5 percent on the savings account of less than one crore rupees and its savings account. In addition, Axis Bank and public sector bank of Baroda also cut savings account rates by 0.5-0.5%. These cuts have been made for a savings deposit account upto Rs 50 lakhs.
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