HDFC FD Rates. In the country where many banks and NBFCs are reducing the interest rates of fixed deposits (HDFC FD rates). On the other hand, the home loan lender HDFC Limited has increased its fixed deposit rates. The new rates have also been implemented from 30 March. Let us tell you that on March 31, the government reduced the interest rates of the small savings scheme. The decision was withdrawn by the government a day after that. Several reasons are being cited for the withdrawal of the verdict.
Increased interest rates by 0.25 percent
HDFC Limited has provided great relief to customers by increasing the interest rates of fixed deposits of various periods. The company has raised 0.25 per cent each. The new rates have also been implemented from 30 March. According to the data, the annual interest rate on FDs up to Rs 2 crore for a 33-month maturity will be 6.20 percent. At the same time, 6.60 percent interest will be given on fixed deposits for 66 months. According to HDFC, the interest rate on 99-month fixed deposits has been reduced to 6.65 per cent.
Government had reduced the interest rates
On March 31, the government, in one of its decisions, lowered the interest rates of the small savings scheme. After this, the FD interest rates had come down to a low of 44 years. After that, the government withdrew its decision on 1 April for fear of spreading dissatisfaction in the country. It is being speculated in the media report that the government has taken this decision due to the elections being held in five states. Reducing the interest rates of the scheme in this small savings may affect the results of the elections.