HDFC Bank revises savings account interest rates. Details here

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HDFC Bank has revised its interest rates on savings bank accounts. As per the revised rate, effective from April 6, 2022, HDFC Bank is offering a 3% annual interest rate on savings accounts with balances under 50 lakh. The rate of interest for savings bank deposit accounts will be 3.50% on savings balances of more than 50 lakh.

HDFC Bank savings account interest rates

Effective 6th April 2022, the Rate of Interest for Savings Bank deposits Accounts has been revised as below :

Less than Rs. 50 Lakh- 3.00%

Of and above 50 Lakh-3.50%

The following are the rates of interest on savings bank accounts, including domestic, NRO, and NRE deposits, as of April 6, 2022, the lender mentioned on its website. Savings Bank interest will be calculated based on the daily balances in your account and paid by the bank at quarterly intervals.

HDFC Bank hikes FD interest rates

HDFC Bank has also increased the interest rate on fixed deposits of less than 2 crore that matures in one year to two years. The new rates are with effect from 6 April 2022. After the latest hike, the bank gives an interest rate ranging from  2.5% to 5.6%  on deposits maturing in 7 days to 10 years.

Meanwhile, Punjab National Bank (PNB) has slashed the interest rate on savings accounts for balances below 10 lakh to 2.70 %. The bank has also lowered the interest rates on savings accounts with balances of more than 10 lakh to 2.75% with effect from 4 April.

 

 

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