Finance
Big GuyHDFC Bank Lowers FD Rates: A Savings Showdown Begins!
Hey there! HDFC Bank, the top dog of banking in India, just decided to shake things up! Starting December 17, they’re lowering fixed deposit rates from 6.60% to 6.45% for those deposits hanging out for 18 to almost 21 months. And guess what? SBI is joining the rate-cutting fun! It’s a savings showdown, folks, but don’t worry, your money will still be cozy!
few days ago | BS Reporter
Quick rundown
1.HDFC Bank lowers fixed deposit rates effective December 17.
2.SBI also reduces deposit rates following repo rate cut.
3.Repo rate reduced by 125 basis points in current cycle.
4.HDFC and SBI both cut peak deposit rates by 15 basis points.
5.Interest rates now range from 2.75% to 6.45% at HDFC.
