rahul1117kumar
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Private sector lender HDFC Bank has reduced interest rate on savings bank accounts by 50 basis points to 3.5 % on deposits up to ₹50 lakh.
The bank will howver continue to pay 4 % interest on deposits of above ₹50 lakh.
“Post revision, customers maintaining savings bank account balance of ₹ 50 lakh and above will continue to earn interest at 4 % per annum. Customers maintaining account balance of below ₹ 50 lakh will earn interest at 3.5 % per annum,” HDFC Bank has said in a regulatory filing.
The revised rates will be applicable to both resident and non—resident customers. The new interest rates will be effective from August 19, it added.
HDFC Bank cuts savings account interest rate by 0.5%
The bank will howver continue to pay 4 % interest on deposits of above ₹50 lakh.
“Post revision, customers maintaining savings bank account balance of ₹ 50 lakh and above will continue to earn interest at 4 % per annum. Customers maintaining account balance of below ₹ 50 lakh will earn interest at 3.5 % per annum,” HDFC Bank has said in a regulatory filing.
The revised rates will be applicable to both resident and non—resident customers. The new interest rates will be effective from August 19, it added.
HDFC Bank cuts savings account interest rate by 0.5%
