![]() HDFC Bank-HDFC merger: Premature withdrawal rule to changeĭo note that other rules of fixed deposits in HDFC, such as premature withdrawal norms, are likely to change after the merger. Investors are likely to lose such benefits as HDFC Bank does not currently offer such incentives for its FD investors. ![]() HDFC pays an additional interest rate of 0.05 per cent on individual deposits placed or renewed through the online deposit system and auto-renewed deposits. Under automatic renewal, the fixed deposits are automatically renewed for a similar tenure at the prevailing interest rate applicable on the date of maturity. Those who have opted for auto renewal while booking their FDs will get the interest rates offered by HDFC Bank after the renewal. "Those who do not renew, the amount on maturity will automatically get deposited in the savings account in HDFC," says Dev Ashish, a SEBI-registered investment advisor (RIA) and Founder, StableInvestor. Those who renew their FDs with HDFC Bank are likely to get marginally lower interest rates compared to what they got in HDFC. The merged entity, which will be known as HDFC Bank, is likely to offer the depositors of the housing finance company an option to either withdraw their money or renew deposits with the private sector bank at the interest rate being offered by it. HDFC Bank-HDFC merger: What depositors must know
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