HDFC Interest Rates

Can you tell me in detail about the interest rates greater than equal to Rs. 5 Cr in HDFC Bank Ltd. as I am planning to apply for the loan but want to know its interest rates first?

[Kiran Chandar]

The detail about the interest rates greater than equal to Rs. 5 Cr in HDFC Bank Ltd. as you are planning to apply for the loan but want to know its interest rates first are as follows:

Domestic/NRE/NRO Term Deposits Interest Rates for Amounts Greater than or equal to 5 Crs WEF 17th October 2015

1. The interest rate applicable on premature closure of deposits (all amounts) is lower of:

a. The base rate for the original/contracted tenor for which the deposit is booked

OR

b. The base rate applicable for the tenor for which the deposit is in force with the Bank

c. No Interest is paid if the NRE deposit is prematurely withdrawn before 1 Year.
The minimum tenor for NRE deposit is 1 Year

2. The penalty on premature closure of Fixed Deposits including sweep-in and partial closures is fixed by the Bank at the rate of 1% except for the tenor of 7-14 days.
No Penalty is charge on premature closure of NRE fixed deposit

3. The base rate is the rate applicable to deposits of 5 crores as on the date of booking the deposit.

4. The above base rate is applicable only if minimum single deposit size is 5 crores

5. Partial premature withdrawal and sweep-in facility is not allowed.

6. The interest is calculated on a quarterly basis for deposits with a tenor above 6 months. A deposit with a tenor below 6 months, interest is calculated on maturity as Simple Interest.
The period of such Fixed Deposit is calculated in number of days.

7. The FD rate applicable for a monthly interest option will be a discounted rate over the standard FD Rate.

8. Deposit is booked upon availability of clear funds with the bank and applicable interest rate is given as on the date of receipt of the funds by the bank.

9. The above rates are applicable for fresh and renewal fixed deposits and are subject to change from time to time without prior notice.

10. As interest rates are subject to change without prior notice, depositor is ascertaining the rates on the value date of FD.

11. Tax at source is deducted as per the Income Tax regulations prevalent from time to time.

HDFC Interest Rates