India’s foreign exchange reserves are expected to climb close to a record high in the coming weeks, supported by strong capital inflows following a series of measures introduced by the Reserve Bank of India (RBI), according to analysts.

The country’s forex reserves increased by $10.5 billion to $692.9 billion for the week ended July 31, marking the biggest weekly jump since late January. The current reserve level is now approaching the all-time high of $728.5 billion, which was recorded in February.

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RBI Measures Drive Strong Capital Inflows

India’s foreign exchange reserves have now increased for five consecutive weeks after the RBI introduced several initiatives to attract overseas capital.

Since early June, these measures have brought in approximately $40.8 billion through:

• Foreign currency deposits from the Indian diaspora
• Overseas borrowings
• Other foreign capital inflows

The higher reserve levels provide the RBI with additional resources to stabilize the rupee during periods of market volatility.

Analysts Expect Reserves to Touch $730 Billion

Gaura Sen Gupta, Chief Economist at IDFC First Bank, believes India’s forex reserves could reach around $730 billion by September, provided there are no major valuation losses on gold or non-dollar reserve assets.

She estimates that the RBI’s initiatives could ultimately attract between $90 billion and $100 billion in total capital inflows.

Challenges Could Limit Further Growth

Despite the positive outlook, analysts caution that forex reserves may not necessarily surpass their previous record.

According to Sakshi Gupta, Chief Economist at HDFC Bank, the RBI continues to utilize part of its reserves to:

• Support the Indian rupee through market intervention.
• Deliver dollars against forward contracts as they mature.

These activities could offset some of the reserve gains in the coming months.

Why Rising Forex Reserves Matter

A larger foreign exchange reserve strengthens India’s financial position by:

• Supporting the Indian rupee during periods of volatility.
• Improving investor confidence.
• Helping meet external payment obligations.
• Providing a cushion against global economic uncertainties.

With capital inflows continuing to improve, analysts believe India is well positioned to maintain healthy reserve levels over the coming months.

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HDFC Bank Lending Rates: Just before Diwali, HDFC Bank, one of the country’s largest private banks, has provided significant relief to its customers. The bank has reduced its Marginal Cost of Funds-Based Lending Rates (MCLR). This will reduce EMIs on home loans, auto loans, and personal loans. The bank has reduced MCLR by 5 to 15 basis points (bps) for different tenures. These new rates are effective from October 7, 2025.

After this reduction, the bank’s new MCLR rates range from 8.45% to 8.65%. Previously, HDFC Bank’s MCLR rates were between 8.55% and 8.75%. This means interest rates have decreased by 10 to 15 basis points. It should be noted that MCLR is directly linked to loan rates. Banks cannot offer loans at rates lower than the MCLR. If banks reduce the MCLR, loan rates will automatically decrease. This directly benefits customers.

HDFC Bank’s New MCLR Rates

According to a report in the Economic Times, HDFC Bank’s overnight MCLR has been reduced from 8.55% to 8.45%. The bank has reduced its one-month MCLR from 8.55% to 8.40%, while the three-month MCLR has been reduced by 15 basis points from 8.60% to 8.45%. The six-month and one-year MCLR rates have been reduced by 10 basis points from 8.65% to 8.55%. The two-year MCLR has also been reduced from 8.70% to 8.60%, while the three-year MCLR has been reduced from 8.75% to 8.65%. This means that customers whose loan reset dates fall after October will now see a slight reduction in their EMIs.

What is MCLR?

MCLR (Marginal Cost of Funds-Based Lending Rate) is the minimum interest rate at which a bank can lend to a customer. It was introduced by the Reserve Bank of India (RBI) in 2016 to bring transparency to interest rates. When a bank’s funding costs decrease or liquidity in the system increases, the bank reduces the MCLR. Based on this, the EMI of floating rate loans (such as home loans, business loans, etc.) also fluctuates. Whenever a bank reduces its MCLR, all loan rates linked to it also fall. This means that customers whose loans are linked to MCLR benefit from the reduction in interest rates in their EMIs.

Learn how MCLR is determined?

HDFC Bank’s current base rate is 8.90%, effective September 19, 2025. The bank’s benchmark prime lending rate (BPLR), or standard interest rate, is set at 17.40% per annum. To determine MCLR, the bank considers interest rates on deposits, the repo rate, operational costs, and the cost of CRR (cash reserve ratio). When the RBI changes the repo rate, it impacts the MCLR.

What are the new home loan interest rates?

HDFC Bank’s home loan interest rates are now linked to the repo rate. According to the bank, the rates for salaried and self-employed individuals range from 7.90% to 13.20%. This means that if the RBI further reduces the repo rate, the bank may also reduce its interest rates further, further reducing customers’ EMIs.

How much interest is being earned on fixed deposits?

HDFC Bank offers its customers fixed deposit (FD) interest rates ranging from 2.75% to 6.60%. Senior citizens receive interest rates ranging from 3.25% to 7.10%. The highest interest rates are offered on FDs with tenures of less than 18 months and less than 21 months. These rates are effective from June 25, 2025.

EPFO Tagline Contest: Want to get ₹21,000 from EPFO? Read these 5 conditions first, or you’ll lose your money.

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HDFC Bank New Rule: HDFC Bank has announced changes in the rules of its premium banking service Imperia program. These changes will come into effect from October 1, 2025. The bank has officially informed its customers about this. The bank said that these changes are focused on the new Total Relationship Value (TRV) requirement. Let us tell you that the Imperia program is a premium banking service and special benefits are provided to select customers.

According to media reports, new rules will come into effect from October 1 for customers who had enrolled in the Imperia program on or before June 30, 2025. However, the new rules are already applicable for customers who joined after July 1 or whose Imperia status is upgraded.

Know what changes have been made in the Emporia program

According to a report published in Business Standard, Emporia, one of HDFC Bank’s flagship premium offers, will now require customers to maintain a minimum TRV of Rs 1 crore at the group level to remain eligible. This new option has been introduced in addition to the existing criteria.

Follow these rules to remain in Emporia

1 – It is necessary to maintain a minimum average quarterly balance of Rs 15 lakh in current account.

2 – An average monthly balance of at least Rs 10 lakh should be maintained in savings account.

3 – A combined average monthly balance of Rs 30 lakh has to be maintained in savings, current and fixed deposit accounts.

4. Net monthly salary of Rs 3 lakh or more deposited in Corporate Salary Account with HDFC Bank.

Know what is TRV
TRV stands for Total Relationship Value. It includes all the money deposited in the bank on your behalf (under a customer ID) in any form. This amount can be in savings account, current account, FD, outstanding loan account or any other type of investment (like mutual fund) etc.

Preferred customers get these facilities
Actually, the bank provides a relationship manager to the customers. He helps you in using banking related services. Whether it is taking a personal loan or forex card or any other service of the bank, the relationship manager helps you in this. Preferred customers also get special offers for facilities like forex, demat, trading and locker. Along with this, charges like cash withdrawal from non-HDFC ATMs and free balance inquiry are also waived for such customers. Apart from this, the bank also gives HDFC Premium Credit Card and Preferred Platinum Debit Card to preferred customers.

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The bank has officially informed its customers about this. The bank said that these changes are focused on the new Total Relationship Value (TRV) requirement. Let us tell you that the Imperia program is a premium banking service and special benefits are provided to selected customers.

According to media reports, the new rules will come into effect from October 1 for customers who enrolled in the Imperia program on or before June 30, 2025. However, for customers who joined after July 1 or whose Imperia status is upgraded, the new rules are already applicable.

Know what kind of changes have happened in the Emporia program

According to a report published in Business Standard, Emporia, one of HDFC Bank ‘s flagship premium offerings, will now require customers to maintain a minimum TRV of Rs 1 crore at the group level to remain eligible. This new option has been introduced in addition to the existing criteria.

Follow these rules to stay in Emporia

1 – Minimum average quarterly balance of Rs 15 lakh must be maintained in the current account.

2 – An average monthly balance of at least Rs 10 lakh should be maintained in the savings account.

3 – Maintain a combined average monthly balance of Rs 30 lakh in savings, current and fixed deposit accounts.

4. Net monthly salary of Rs 3 lakh or more deposited in Corporate Salary Account with HDFC Bank.

Know what is TRV

TRV stands for Total Relationship Value. It includes all the money deposited in the bank on your behalf (under a customer ID) in any form. This amount can be in savings account, current account, FD, outstanding loan account or any other type of investment (like mutual fund) etc.

Preferred customers get these facilities

Actually, the bank provides a relationship manager to the customers. He helps you in using banking services. Whether it is taking a personal loan or a forex card or any other service of the bank, the relationship manager helps you in this. Preferred customers also get special offers for facilities like forex, demat, trading and locker. Along with this, charges like cash withdrawal from non-HDFC ATMs and free balance inquiry are also waived for such customers. Apart from this, the bank also gives HDFC Premium Credit Card and Preferred Platinum Debit Card to preferred customers.

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If you do many transactions daily, then this news is very important for you, because banks also have their own rules.

How much amount and how many times can I transact daily through UPI?

In UPI, a maximum of Rs 1 lakh can be transacted in a day. This limit applies to both Person to Person (P2P) and Person to Merchant (P2M). However, some banks have also imposed a limit on the number of transactions. For example, in SBI, a maximum of 20 P2P transactions can be done from one account in 24 hours. However, there is no limit on the number of P2M transactions.

In these cases the daily payment limit is more than Rs 1 lakh

If you are paying tax through UPI, applying for IPO, making payment under RBI’s Retail Direct Scheme or making payment to any verified hospital or educational institution, then you can transact up to Rs 5 lakh in a day. Apart from this, the daily limit for capital market, credit card payment, loan repayment, foreign transactions and insurance is Rs 2 lakh.

UPI Limit in SBI and HDFC Bank

Like SBI, HDFC Bank also has a limit of Rs 1 lakh or 20 transactions, whichever is completed first. This rule applies to both P2P and P2M. There is a ‘cooling off period’ for new users. Android users can send only up to Rs 5,000 in the first 24 hours, while for iPhone users this limit is up to 72 hours.

UPI Lite Limit

A maximum of Rs 1,000 can be transacted at a time through UPI Lite. A maximum of Rs 4,000 can be added to the wallet in a day and a maximum of Rs 5,000 can be kept in the wallet at any time. This facility is for small and everyday payments.

UPI123Pay Limit

For those who use feature phones or do not have internet, there is a facility of UPI123Pay. Through this, transactions can be done through IVR call, feature phone app, missed call or sound-based payment. In this, a maximum transaction of Rs 10,000 can be done at a time.

If you use UPI daily, then it is important to know these limits so that the problem of transaction failure can be avoided and big payments can be made on time.

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If you are a customer of HDFC Bank, then there is important news for you. In fact, some of the bank’s services will be temporarily suspended. The bank has informed its customers about this through email. According to HDFC Bank, system upgrade and maintenance work will be carried out to improve banking services. This maintenance will run from 11 pm on 22 August 2025 to 6 am on 23 August 2025 (total 7 hours). During this period, customers will not be able to use some services.

The bank said that during this period, customer care services like phone banking IVR, email, social media support as well as WhatsApp chat banking and SMS banking will not be available. However, in case of any emergency, customers will be able to hotlist the account or card through the toll-free number.

During this time, customers will be able to conduct banking transactions through other digital services. These include –

• Phone Banking Agent Service
• HDFC Netbanking
• HDFC Mobile Banking App
• PayZapp
• MyCards

The bank said that this step is being taken to make services faster and safer. Along with this, customers have been requested for their cooperation and understanding.

How to register for HDFC NetBanking

If you want to use HDFC Bank net banking for the first time, follow these easy steps-

• Visit the official website www.hdfcbank.com .
• Now click on the Login button and select NetBanking.
• If you are a new user, click Register Now or First Time User.
• Here you will need to enter your Customer ID (which can be found in the welcome kit or bank statement) or account number.
• Fill in the details and enter your registered mobile number.
• An OTP will be sent to your mobile number or email.
• Verify your identity by entering OTP.
• Now create your IPIN (Internet Banking Password).
• Complete the registration by verifying the details. Now you can log in to NetBanking with your Customer ID and IPIN.

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HDFC Bank has changed the rules related to its fees and charges. These changes have been made in HDFC Bank’s savings account, salary account and NRI account. These changes have come into effect from August 1. It has also affected cash transactions, checkbooks , online transfers ( IMPS and NEFT) and some branch services.

Cash transaction limit reduced

Now customers will get free cash transactions of up to Rs 1 lakh every month for themselves or third parties. Earlier this limit was Rs 2 lakh. The limit of free transactions will be 4 months. After this, a charge of Rs 150 will have to be paid per transaction.

If the cash limit goes above Rs 1 lakh, a fee of Rs 5 per Rs 1,000 will be charged (minimum Rs 150). The daily limit for third party cash transactions is Rs 25,000 only.

Changes in the issuance of cheque books

Now, savings accounts ( including BSBDA ) will get only one free cheque book of 10 pages in a year, earlier it was of 25 pages. Additional cheque books will cost Rs 4 per page, while this rate will be less for senior citizens.

IMPS and NEFT charges reduced

Online IMPS transfers will now be charged Rs 2.5 from regular customers and Rs 2.25 from senior citizens for transactions up to Rs 1,000. Earlier it was Rs 3.5 and Rs 3 respectively. The fee for IMPS transfers above Rs 1 lakh has been reduced from Rs 15 to Rs 13.5.

New charges have also been fixed for NEFT branch transfers according to slabs. Transfers up to Rs 10,000 will cost Rs 2 (Rs 1.8 for senior citizens), Rs 14 (Rs 12.6 for senior citizens) for Rs 1-2 lakh and Rs 24 (Rs 21.6 for senior citizens) for transfers above Rs 2 lakh.

Changes in other digital and branch services

IPIN regeneration is now free , earlier it used to cost Rs 40 ( Rs 36 for Seniors ) .

Charges on branch services such as balance certificate, interest certificate, address confirmation and copy of old records have increased. For example, balance certificate will now cost Rs 100 (senior Rs 90).

ECS and cheque return fees increased

ECS returns will now attract a higher fee of Rs 50 than before . The check return fee has also increased, although the technical return fee will remain the same at Rs 50 (Rs 45 for senior return). All these new charges and limits will be applicable to all branches and networks of HDFC Bank.

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HDFC Bank, the country’s largest bank by market capitalisation, has clarified that it has not made any change in the average minimum balance (AMB) of savings accounts. Some recent reports had claimed that the limit has been increased to Rs 25,000 in urban areas, but the bank said this is incorrect.

According to the bank, the average minimum balance for a regular savings account will remain at Rs 10,000. For a Savings Max account, the limit will remain at Rs 25,000. HDFC Bank said that different types of savings account options are available across rural, semi-urban, urban and metro branches, depending on the needs and profile of the customers. The bank will give preference to Savings Max accounts for new account openers in metro cities.

ICICI Bank reduces balance limit

Meanwhile, following customer dissatisfaction, ICICI Bank has changed the rules of minimum account balance (MAB) of its savings account. Now this limit has been reduced from Rs 50,000 to Rs 15,000 in metro and urban areas. For semi-urban areas, it has been reduced from Rs 25,000 to Rs 7,500 and for rural areas, it has been reduced from Rs 10,000 to Rs 2,500. This decision will be applicable to accounts opened from August 1.

What is the Average Minimum Balance?

Average minimum balance is the amount that a bank asks its customers to maintain on average in their savings account every month. It is decided by the bank as to what amount account holders are required to maintain in their account so that the account can run smoothly and avail the services provided by the bank. If account holders fail to maintain this average minimum balance amount, the bank may impose a penalty or charge.

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Otherwise, the bank can deduct charges. HDFC Bank has implemented this rule from 1 August 2025. This rule will be applicable to all customers opening savings accounts after 1 August 2025.

HDFC Bank increased the minimum balance limit on savings accounts

Now, new savings account customers onboarded after August 1, 2025 will have to maintain a minimum balance of Rs 25,000. If it is less than this, a charge will be deducted from the savings account. That is, a minimum balance of Rs 25,000 will have to be maintained in the savings account at all times. This rule has been implemented in all major metros and urban cities. Currently, it is necessary to have a minimum balance of Rs 10,000 in HDFC Bank’s savings account. That is, the minimum balance is Rs 10,000 for urban savings account.

ICICI Bank recently increased the limit

While on one hand government banks are removing the rule of maintaining minimum balance in savings account, on the other hand, private banks are increasing the limit of maintaining minimum balance in savings account. Recently ICICI Bank made a big change in the rules of savings bank account and some service charges. If you are opening a new savings account in ICICI Bank, you will have to keep a minimum balance of Rs 50,000 instead of Rs 10,000 in the account. This rule has come into effect from 1 August 2025. This rule is only for newly opened savings account.

New minimum balance rule for metro and urban areas

Earlier the minimum average monthly balance ( MAMB) in ICICI Bank was Rs 10,000. Now it has been increased to Rs 50,000. That is, now you will have to keep 5 times more balance in the savings account than before. This rule will apply only to new savings accounts opened from August 1, 2025. For the old customers, the rules will remain the same for now, unless the bank informs about the change separately. There will be no impact on salary accounts as these are zero-balance accounts. BSBDA i.e. Basic Savings Bank Deposit Account will also not be affected, as it also does not require a minimum balance.

Semi-Urban Branch: Increased from Rs 5,000 to Rs 25,000 .

Rural Branch: Increased from Rs 5,000 to Rs 10,000.

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To encourage the use of digital channels, we are updating our transaction charges effective August 1, 2025:

NEFT & RTGS transactions done online (via NetBanking & MobileBanking) will continue to be absolutely free for all customers, allowing you to transfer funds anytime and anywhere at no extra cost.

IMPS online transaction charges for amounts up to ₹1,000 have been reduced, making small payments simpler and more affordable.

Please note the revised charges for NEFT & RTGS transactions done at our branches.

RTGS (Branch Transactions)

*Revised charges are excluding GST

NEFT (Branch Transactions)

*Revised charges are excluding GST

IMPS (Online Transactions)

*Revised charges are excluding GST

We encourage you to take advantage of our easy-to-use digital platforms for faster, secure, and cost-effective transactions.

For more details, please visit: http://www.hdfcbank.com

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If you do not keep cash in your pocket and are relaxed due to UPI service, then this news is for you. Actually HDFC Bank has alerted its customers that it is going to do an extremely important system maintenance. Due to this, UPI service will be closed for a few hours. In such a situation, it may be wise to carry cash with you on that day. Let us tell you that since the arrival of UPI service, people have reduced carrying cash with them. The government also wants that people do as many transactions as possible digitally. However, every system needs maintenance at some point of time and in such a situation people may face problems.

When will UPI be down?

According to the information released by HDFC Bank, it will keep its UPI service closed from 11:45 pm on 3 July 2025 to 1:15 pm on 4 July 2025. During this time people will not be able to use UPI service for 90 minutes. The bank has chosen this time thoughtfully because during this time the load on the UPI server is less. However, people definitely make UPI payments during this time.

The effect will be visible on all UPI apps

Let us tell you that this down will not only affect HDFC’s own mobile banking app, but other UPI apps like PhonePe, WhatsApp Pay, Google Pay and Paytm will also not be able to work during this downtime. Let us tell you here that this will only affect those people whose UPI account is linked to HDFC Bank. The customers of that bank will neither be able to make payments through UPI nor receive money at the time specified by the bank. Apart from this, non-financial work related to UPI such as checking balance or changing UPI PIN will also not be possible during this time. HDFC’s RuPay credit card UPI service will also be closed at this time!

Businesses will also be affected

Let us tell you that the bank has clarified that the services of those businesses whose payment services are through HDFC Bank will also stop at this time. During this time, businesses will neither be able to receive nor make any kind of payment. Keep in mind that during this time other services used for transactions such as net banking, ATM, debit and credit cards will continue to run normally.

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This is the second cut this month. Earlier on June 10, the bank had also reduced the interest rate on some selected FDs. This change will be applicable on those deposits whose amount is less than Rs 3 crore. Apart from this, a cut of 25 basis points has also been made on savings accounts from June 24, 2025.

HDFC Bank reduced interest on these FDs

Now HDFC Bank will give 6.35% interest to general customers instead of 6.60% on FDs of less than 15 months and more than 18 months. Whereas, for senior citizens, this rate has been reduced from 7.10% to 6.85%. The current FD interest rates of the bank are now between 2.75% to 6.60% for general customers and 3.25% to 7.10% for senior citizens. These changes have been made after RBI’s 50 basis point cut in the repo rate. It is clear from this that the effect of the fall in interest rates is now directly visible on the savings and investments of the customers.

HDFC Bank interest rates on FDs up to Rs 3 crore

• 7 days to 14 days: For general public – 2.75%; For senior citizens – 3.25%
• 15 days to 29 days: For general public – 2.75%; For senior citizens – 3.25%
• 30 days to 45 days: For general public – 3.25%; For senior citizens – 3.75%
• 46 days to 60 days: For general public – 4.25 percent; For senior citizens – 4.75 percent
• 61 days to 89 days: For general public – 4.25 percent; For senior citizens – 4.75 percent
• 90 days to 6 months: For general public – 4.25 per cent; For senior citizens – 4.75 per cent
• 6 months 1 day to less than 9 months: For general public – 5.50 per cent; For senior citizens – 6.00 per cent
• 9 months 1 day to less than 1 year: For general public – 5.75 per cent; For senior citizens – 6.25 per cent
• Less than 1 year to 15 months: For general public – 6.25 per cent; For senior citizens – 6.75 per cent
• 15 months to less than 18 months: For general public – 6.35 per cent; For senior citizens – 6.85 per cent
• 18 months 1 day to less than 21 months: For general public – 6.60 per cent; For senior citizens – 6.95 per cent
• 21 months to 2 years: For general public – 6.45 percent; For senior citizens – 7.20 percent
• 2 years 1 day and less than 2 years 11 months: For general public – 6.45 per cent; For senior citizens – 6.95 per cent
• 2 years 11 months 1 day and upto 35 months – 6.45 percent; For senior citizens – 6.95 percent
• 2 years 11 months 1 day and upto 3 years – 6.45 percent; For senior citizens – 6.95 percent
• 3 years 1 day to 4 years 7 months – 6.40 percent; For senior citizens – 6.90 percent
• 4 years 7 months to 55 months – 6.40 percent; For senior citizens – 7.90 percent
• 4 years 7 months 1 day to less than 5 years: For general public – 6.40 percent; For senior citizens – 6.90 percent
• 5 years to 10 years: For general public – 6.15 percent; For senior citizens – 6.65 percent

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These changes will come into effect from July 1, 2025. The new rules will affect online gaming, wallet loading, utility bills, rent, fuel and education payments. Let us know how much charge will be levied on which transactions and how to get reward points.

1. Charges on online skill-based gaming

If you spend more than Rs 10,000 per month on platforms like Dream11, MPL, Rummy Culture, Junglee Games, the bank will charge 1%.

Maximum charge: Rs 4,999

Reward Points: No reward points will be given on gaming.

2. Charges on wallet loading

If you load more than Rs 10,000 in a month using your credit card into a third party wallet like PayTM, Mobikwik, Freecharge or Ola Money, a charge of 1% will be levied.

Maximum charge : Rs 4,999 per month

3. Extra charges on utility bills

If you spend more than Rs 50,000 (consumer card) or Rs 75,000 (business card) in a month using your credit card, then 1% charge will be levied on the utility bill. This charge will also be limited to Rs 4,999.

There will be no charges on insurance payment.

4. Changes on rent, fuel and education transactions

The 1% charge on rent payments will continue as before and will be a maximum of Rs 4,999. A 1% charge will be levied on fuel transactions only when the expense goes above Rs 15,000 or Rs 30,000. A 1% charge on education fees will be levied only when payments are made through third-party apps. There will be no charge on payments made through the school or college website or POS machine.

5. Reward point cap on insurance transactions

Reward points will now be available on insurance transactions, but with a limit. The earlier reward capping will remain applicable on cards like Millennia, UPI, Swiggy, Paytm and Bharat. There will be no limit on reward points on insurance payments on Marriott Bonvoy card. HDFC card customers should plan their expenses before July 1 and use the card keeping these changes in mind. This will help you avoid additional charges and make the most of your reward points.

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Changes in HDFC Bank rules

If you spend more than Rs 10,000 per month on gaming apps like MPL, Dream 11 using an HDFC Bank credit card, you will have to pay a one percent surcharge on it. Similarly, if you deposit more than Rs 10,000 in a month on third-party wallets like Mobikwik, Paytm, Ola Money and Freecharge, then a one percent surcharge will also be levied on that. If you spend more than Rs 15,000 on fuel, then an additional one percent surcharge will be levied. Apart from this, if you pay more than Rs 50,000 on electricity, water and gas, then a one percent surcharge will also be levied on that.

Changes in ICICI Bank rules

Another major private sector bank, ICICI Bank, has changed some charges on IMPS and ATM. After this, if you now use any other bank, you will have to pay some additional charges on it.

This means that in metro cities, you will get three free transactions every month. While in smaller cities, you will get five free transactions. After this, where earlier you used to pay Rs 21 to withdraw money, now you will have to pay Rs 23 as a charge. Whereas if you just check the balance or do non-financial work, you will have to pay Rs 8.5 per transaction.

Apart from this, now you will have to pay charges according to your transaction for sending money through IMPS i.e. instant service like, Rs 2.5 per transaction for Rs 1 thousand, while Rs 5 per transaction for Rs 1 thousand to 1 lakh. While Rs 15 per transaction will have to be paid for Rs 1 lakh to 5 lakh.

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State Bank of India (SBI) cuts FD rates by up to 75 bps

The country’s largest public sector bank SBI has reduced the interest rates on fixed deposits by up to 75 basis points (bps) on various tenures. The new rates have come into effect from June 15, 2025. Now common citizens will get interest ranging from 3.50% to 6.50% on FDs ranging from 7 days to 10 years. Senior citizens will continue to get 50 bps additional interest on certain tenures. Apart from this, SBI has also reduced the interest rate on savings account from 2.70% to 2.50%.

HDFC Bank new rates

HDFC Bank has reduced interest rates on FDs of less than Rs 3 crore. Now the interest rate on these FDs will be between 3.00% to 7.00%. The highest interest rate of 7.00% is being given on FDs of less than 2 years and less than 3 years. Along with this, the bank has also reduced the interest rate on savings account by 25 bps. Now 3.00% interest will be given on balance less than Rs 50 lakh and 3.50% interest will be given on balance of Rs 50 lakh or more.

ICICI Bank also reduced FD rates

ICICI Bank has changed the interest rates on FDs of less than Rs 3 crore from June 12, 2025. Now the interest rates range from 3.00% to 7.20%. The highest interest of 7.20% is being given on FDs of 13 months to 2 years.

There has been a reduction of 5 to 25 bps on other tenures as well. Especially the short-term deposits are seeing the biggest impact.

Kotak Mahindra Bank implemented new rates

Kotak Mahindra Bank has changed the FD rates from 12 June 2025. Now the interest rates on FDs of less than Rs 3 crore in the bank range from 2.75% to 7.25%. The highest interest rate of 7.25% is being offered on FDs of 390 days. There has been a reduction of 5 to 15 bps on other periods.

impact of reduction in interest rates

The direct impact of the reduction in repo rate by RBI is being seen on the returns on deposits. Usually, banks adjust the rates of FD and savings account as per the change in policy rate. In the coming days, more banks can take steps in this direction. If investors want to get better returns, then investing in long term FD or considering alternative fixed-income instruments can be a good option.

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State Bank of India (SBI): The country’s largest bank is giving interest at the rate of 6.70% to common citizens for a period of 2 years to 3 years. At the same time, senior citizens are being provided interest at the rate of 7.20 percent for this period.

HDFC Bank: This largest private sector bank is still giving great interest for a period of 15 to 18 months. The bank is providing interest at the rate of 6.85% to common citizens for this period. At the same time, the interest rate for senior citizens is 7.35%.

ICICI Bank: This private sector bank is providing the highest interest for a period of 18 months to 2 years. The bank is providing interest at the rate of 6.85% to common citizens for this period. At the same time, senior citizens are being provided interest at the rate of 7.35% for this period.

Bank of Baroda: Government bank Bank of Baroda is providing better returns on 1 year FD. The bank is giving interest at the rate of 6.70% to common citizens on 1 year FD. At the same time, for this period, senior citizens and super senior citizens are being provided interest at the rate of 7.20% and 7.20% respectively.

PNB: Punjab National Bank is still giving great returns on 1 year FD. The bank is giving interest at the rate of 6.70% to common citizens on 1 year FD. At the same time, senior citizens and super senior citizens are being provided interest at the rate of 7.20% and 7.50% respectively.

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UPI services will be affected

Some digital services of the country’s largest private bank HDFC Bank will be disrupted for millions of customers on Sunday, June 8. UPI transactions (financial and non-financial) related to HDFC Bank’s current and savings accounts and RuPay credit cards will not be available. The bank said that during the downtime, customers can use PayZapp to complete their financial transactions.

Third-party apps will not work

UPI transactions on Google Pay, WhatsApp Pay, Paytm, and other third-party apps linked to HDFC Bank accounts will not work. Merchant UPI payments through HDFC Bank will also stop. These include net banking and mobile banking apps. In such a situation, you will not be able to see any kind of information related to the account through mobile applications. Nor will any deposit related work be done. Fund transfer (IMPS, NEFT, RTGS), instant account opening, and other digital banking services will also not be available during this time.

The bank has advised customers to complete important transactions in advance and use PayZapp Wallet, which is a secure digital wallet and virtual card, during this time. This maintenance is being done to improve the banking experience and increase the security and efficiency of the system. Customers are expected to cooperate and understand during this time.

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Online Gaming

Customers who spend more than Rs 10,000 every month on online skill-based gaming platforms like Dream11, Rummy Culture or MPL will have to pay a 1% fee. This charge will be applicable on the total monthly gaming expenditure and its limit will be Rs 4,999. The bank said that reward points will not be given on these transactions.

Credit card users who load more than Rs 10,000 every month in third-party wallets like Paytm or Mobikwik will also be charged a 1% fee. This charge will be applicable on the total wallet-loading amount and its limit will also be maximum Rs 4,999.

Utility Payments

If more than Rs 50,000 is spent every month through consumer card or Rs 75,000 through business card, then 1% fee will be levied on utility payments. This charge will be applicable on the entire utility expenditure and its maximum limit will be Rs 4,999. The bank said that insurance payments will not be considered utility transactions.

Meanwhile, the limit of charges on rent, fuel and education payments has also been changed. However, the 1% charge will remain, but the maximum charge per transaction will be Rs 4,999. The charge for fuel will be applicable only when the transaction amount is more than Rs 15,000 or Rs 30,000. This charge for education will be applicable only when the payment is made through a third party app. This charge will not be applicable on payments made directly to schools or colleges.

Insurance

The limit of reward points will be fixed on insurance transactions. Up to 10,000 points will be available every month on Infinia and Infinia Metal cards. There will be a limit of 5,000 points on Diners Black and Bizz Black Metal. Most other cards will have a limit of 2,000 points. There will be no limit on insurance reward points on the Marriott Bonvoy card. HDFC Bank has said that GST will be applicable on all charges.

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ICICI Bank: Now you will get lounge access on spending Rs 75,000

ICICI Bank has informed on its website that now credit card holders will have to spend Rs 75,000 in the previous quarter to avail free domestic airport lounge facility in the next quarter.

For example, if you want lounge access between July 1 and September 30, 2025, you will have to spend Rs 75,000 between March 26 and June 25, 2025. This rule will apply only to select ICICI credit cards. However, premium cards such as Emeralde, Diamant, Adani One, MakeMyTrip and Times Black cards will be exempted from this condition.

The bank has also clarified that expenses related to rent, education, government services, EMI, fees and reversal will not be added to this limit of Rs 75,000.

HDFC Bank: 1% charge will be levied on gaming and wallet loading

HDFC Bank is also going to make big changes in its credit card rules from July 1, 2025. If you use online gaming or third-party wallets, then it is important to know these changes.

1. Charges on online gaming

If a customer spends more than Rs 10,000 in a month on online skill-based gaming (such as Dream11, MPL, Rummy Culture, etc.), a fee of 1% will be charged. This fee will be limited to a maximum of Rs 4,999. Also, no reward points will be given on such spending.

2. Charges on wallet loading

If you load more than Rs 10,000 into a third-party wallet like Paytm or Mobikwik, this will also attract a 1% fee, capped at Rs 4,999.

3. Utility and insurance payments

If a customer pays a utility bill of more than Rs 50,000 (consumer cards) or Rs 75,000 (business cards), a 1% fee will be charged on the entire utility expense, up to Rs 4,999. Insurance is not included in the scope of utility, but a limit has been set on the reward points available on insurance payments.

Limit of reward points on insurance

Infinia/Infinia Metal: Maximum 10,000 points per month

Diners Black/Biz Black Metal: Maximum 5,000 points

Other cards: Maximum 2,000 points

There will be no limit on Marriott Bonvoy cards

4. Changes on rent, fuel and education too

Rent, fuel, and education payments will continue to attract a 1% fee as before, but the maximum charge will now be Rs 4,999 per transaction.

This charge on fuel will be levied when the transaction is above Rs 15,000 or Rs 30,000.

Education charges will be levied only when payment is made through third-party apps. This charge will not be levied if payment is made directly to the school or college. These new rules of ICICI and HDFC Bank are aimed at regulating specific expenses and strengthening financial tracking. If you use credit card for these services, then plan keeping these changes in mind so that the charge can be avoided.

The post ICICI and HDFC Bank credit card rules will change from July 1, 2025, know what will be the effect first appeared on Rightsofemployees.com.

In this connection, private sector HDFC Bank has reduced the interest rates of some selected tenure FD schemes. HDFC Bank has reduced the interest rates by 20 basis points i.e. up to 0.20 percent. Let us tell you that the largest private bank has made this change for FDs of less than Rs 3 crore. The new interest rates of the bank will be effective from May 23, 2025. Earlier, HDFC Bank had also reduced the FD rates by 50 basis points in April 2025.

Ordinary citizens will now get up to 6.85% interest on FD

After the reduction in FD interest rates, now general citizens will get interest ranging from 3% to 6.85% on FD. While senior citizens will be given interest ranging from 3.5% to 7.35%. Before this latest change, HDFC Bank was offering interest ranging from 3% to 7.10% on FD to general citizens and 3.5% to 7.55% to senior citizens. HDFC Bank has not reduced interest rates on FDs of all tenures. This reduction has been done only for FDs of certain tenures.

Interest rates for FDs with tenures of more than 1 year and less than 15 months reduced
HDFC Bank has reduced the interest rate given to ordinary citizens on FDs of more than 1 year and less than 15 months by 0.10 percent. Now ordinary citizens will get 6.50 percent interest on FDs of this duration, which was 6.60% earlier. Apart from this, the bank has reduced the interest rate by 0.20 percent for FDs maturing in a period of 18 months to less than 21 months, which has come down from 7.05% to 6.85%.

The post HDFC Bank once again cuts FD interest rates, check how much profit you will get now first appeared on Rightsofemployees.com.

Instead, cardholders will have to spend Rs 50,000 every calendar quarter, only then they will get a lounge voucher. The bank will send this voucher through SMS and email. The voucher has to be claimed within 120 days of receiving it and it can be used in any eligible lounge within 180 days.

The facility of free domestic lounge visits maximum 8 times in a year will continue as before, but now it will be available only maximum 2 times every quarter.

To check eligibility for lounge access, users need to log in to HDFC NetBanking or Mobile Banking app. Select your Tata New Infinity card in the ‘Credit Card’ section and click on ‘Redeem Reward Points’. After this, you can check the spending and eligibility details by going to ‘MyReward’ and ‘Spend Promo Details’.

There is no change in international lounge access. Cardholders will get free international lounge access 4 times a year as before, which will be given under the Priority Pass program. This facility is applicable on both RuPay and Visa versions. However, RuPay cardholders will have to pay an additional fee of $3.25 per visit.

Talking about other benefits of this card, 5% NeuCoins are available on non-EMI purchases made on Tata New Platform and Tata Brands. 1.5% on other purchases and an additional 5% NeuCoins are available on purchases made from Tata New website or app.

This card is also beneficial in terms of security. It includes a lost card cover of Rs 9 lakh, overseas hospital cover of Rs 15 lakh and accidental death cover of Rs 1 crore.

New cardholders get a welcome bonus of 1,499 NeuCoins on making their first transaction within 30 days. Also, if a user spends Rs 3 lakh in a year, his annual fee will be waived off.

A 1% surcharge waiver on fuel is also given in this card, which is applicable on fuel transactions of Rs 400 to Rs 5,000. The maximum discount you can get in a month is up to Rs 500.

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During this time, many major services of the bank such as UPI transactions, net banking, debit, credit card services will be temporarily disrupted. However, the bank has done this maintenance in the morning so that the customers are not affected much. Still, customers have been advised to complete their banking needs ahead of time.

HDFC Bank Service and Downtime Schedule on 9th May 2025

The bank’s debit card service will not work from 12:30 am to 2:30 am on May 9. During this time, customers will not be able to do either online or offline transactions.

Impact on e-commerce transactions

Shopping on e-commerce sites using HDFC Bank cards will not be possible from 12:30 AM to 2:00 AM IST on May 9.

Credit card service and statements not available

All HDFC Bank credit card services and statement download facilities will be closed from 1:00 AM to 4:00 AM IST.

This service of HDFC Bank will not be available on May 10, 2025

Net banking and mobile app services down

Viewing account information through net banking and mobile banking apps, fund transfers (UPI, IMPS, NEFT, RTGS), merchant payments and instant account opening services will not work from 2:30 AM to 5:30 AM IST on May 10.

Loan and demat services will also remain disrupted

All loan related services will be temporarily closed from 4:30 AM to 6:30 AM IST.

Demat account and trading related services will be affected from 5:00 AM to 7:00 AM IST.

Second downtime of credit card service

HDFC Bank’s credit card services will again be temporarily suspended on May 10 between 5:00 AM to 7:00 AM IST.

UPI service will be closed: 4 hours downtime on May 10

HDFC Bank has said that it is upgrading its UPI infrastructure. Due to this, all UPI related services will be closed from 2:30 am to 6:30 am on May 10. During this time, UPI transactions related to HDFC savings and current accounts, UPI payments from RuPay credit cards, UPI service on HDFC mobile app and transactions from HDFC accounts through third party UPI apps will not be possible.

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Let us tell you that on March 28, the Reserve Bank of India had approved the increase in charges after the free limit is over. According to the rules of the Reserve Bank of India, any customer can do 5 free transactions (including financial and non-financial) from his bank’s ATM in a month. From today, after the free transaction limit is over, you will now have to pay an extra charge of Rs 2 on each transaction. With the implementation of the new rules, after the free limit is over, a charge of Rs 23 will now be levied on each transaction.

The Reserve Bank of India issued the notification on March 28

According to the RBI notification dated March 28, 2025, “ATM interchange fee will be decided by the ATM network. After the free limit, a maximum fee of Rs 23 may be charged to the customer on each transaction. This will be effective from May 1, 2025. Applicable taxes, if any, will be payable separately. These instructions, with changes as required, will also apply to transactions done at cash recycler machines,” RBI had said.

You can make free transactions only 3 times in metro cities

According to the new rules, if you are using another bank’s ATM, you can do a maximum of 3 free transactions in a month in metro cities and a maximum of 5 free transactions in non-metro cities. If you are using your bank’s ATM, you can do 5 free transactions in a month. After crossing the limit of free transactions, you will have to pay a charge of Rs 23 on each transaction. Currently, after the free transaction limit is over, the bank can charge its customers a maximum of Rs 21 on each transaction. Let us tell you that this decision will cost those bank customers dearly, who withdraw cash or use any other service using ATM several times in a month.

These banks have implemented new rules from today

Many banks including State Bank of India, HDFC Bank, Punjab National Bank and IndusInd Bank have implemented new rules for their customers from today. Banks said that after the free limit, Rs 23 + GST ​​will have to be paid on each transaction. According to PNB, Rs 11 will have to be paid on non-financial transactions.

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During this time, many important services of both the banks will not be available temporarily.

HDFC Bank’s UPI service will remain closed

HDFC Bank’s Unified Payments Interface (UPI) service will not be available for a total of 4 hours from 2:30 am to 6:30 am on April 12. According to the bank, this technical upgrade is being done to further improve the security, functionality and performance of their digital services.

This service will not be available

• UPI Payments from HDFC Bank Savings & Current Accounts.
• UPI service linked to RuPay credit card.
• Transactions through HDFC Bank mobile app.
• UPI payments made through other third party apps (Google Pay, PhonePe, etc.).
• Merchant UPI transactions processed through HDFC Bank
• Backup Option: PayZapp

Customers are advised to use alternatives like PayZapp. It is a digital wallet run by HDFC Bank that offers payment services through credit/debit cards, UPI and wallet balance.

Kotak Bank Ltd

Along with HDFC Bank, Kotak Mahindra Bank has also fixed its second maintenance window on April 12, 2025, which will run from 1:00 pm to 4:00 am. During this time, many digital services of the bank including mobile banking, net banking, phone banking and website will not be available. Apart from this, changes in transaction limit, activation or deactivation of card, block/unblock card, change primary account, link/delink account are also included. Apart from this, customers will not be able to request a new card, close the existing card, tokenization registration on Google Pay and Samsung Pay, PIN regeneration and card verification service during this time.

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The post UPI Service Close: UPI service of these banks will remain closed today at this time. check details first appeared on Rightsofemployees.com.

Whenever it comes to investing money, most people think of FD. Most people prefer to invest their money in FD because the money invested in FD is safe. The return received is also already fixed. If you also resort to bank FD to invest your money, then you must know about the interest rates of FD of different banks.

Today we are going to tell you about the new interest rates of FD of HDFC Bank, one of the largest private banks in the country. Actually, HDFC Bank’s special edition FD has been closed on March 31, in which the bank was giving returns to its customers at a very good interest rate. At the same time, the new year has also started from April 1. In such a situation, the bank has implemented new interest rates on its FD. Let us know the interest rates of HDFC Bank’s FD.

HDFC Bank FD

HDFC Bank offers FDs to its customers at very attractive interest rates. In HDFC Bank, general citizens get returns at the interest rate of 3 percent to 7.25 percent. Whereas senior citizens get returns at the interest rate of 3.5 percent to 7.75 percent.

HDFC Bank FD Interest Rates

If you invest in HDFC Bank for a period of 7 days, you will get a return of 3 percent. On the other hand, FDs with a period of up to 1 year will get a return of 6 percent. Apart from this, HDFC Bank offers a return of 7.10 percent on FDs of 15 months to 18 months. Talking about FDs with a period of 5 to 10 years, you can get a return of 7 percent by investing in it. For senior citizens, these interest rates are 0.50 percent higher.

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HDFC Bank has reduced the interest rate on FD by 0.20 percent. The Reserve Bank of India (RBI) had reduced the repo rate in its last monetary policy meeting. Now in the meeting to be held in April this month, it is expected once again that RBI may reduce the repo rate.

HDFC Bank reduced interest on FD

After RBI reduced the repo rate, most banks are reducing the interest rates on FDs. Now HDFC Bank has also joined this list. The bank has reduced the interest rate on FDs of 2 years and more period by 20 basis points i.e. 0.20 percent. The bank is offering FDs from 7 days to 10 years. These new rates have come into effect from today, 1 April 2025.

HDFC Bank interest rates on FDs up to Rs 3 crore

• 7 days to 14 days: For general public – 3%; For senior citizens – 3.50%
• 15 days to 29 days: For general public – 3%; For senior citizens – 3.50%
• 30 days to 45 days: For general public – 3.50 percent; For senior citizens – 4 percent
• 46 days to 60 days: For general public – 4.50%; For senior citizens – 5.00%
• 61 days to 89 days: For general public – 4.50 percent; For senior citizens – 5 percent
• 90 days to 6 months: For general public – 4.50 percent; For senior citizens – 5 percent
• 6 months 1 day to less than 9 months: For general public – 5.75 per cent; For senior citizens – 6.25 per cent
• 9 months 1 day to less than 1 year: For general public – 6.00 per cent; For senior citizens – 6.50 per cent
• Less than 1 year to 15 months: For general public – 6.60 percent; For senior citizens – 7.10 percent
• 15 months to less than 18 months: For general public – 7.10 per cent; For senior citizens – 7.60 per cent
• 18 months 1 day to less than 21 months: For general public – 7.25 per cent; For senior citizens – 7.75 per cent
• 21 months to 2 years: For general public – 7.00 percent; For senior citizens – 7.50 percent
• 2 years 1 day and less than 2 years 11 months: For general public – 7.00 per cent; For senior citizens – 7.50 per cent
• 2 years 11 months 1 day and upto 35 months – 7.00 percent; For senior citizens – 7.50 percent
• 2 years 11 months 1 day and upto 3 years – 7.00 percent; For senior citizens – 7.50 percent
• 3 years 1 day to 4 years 7 months – 7.00 percent; For senior citizens – 7.50 percent
• 4 years 7 months to 55 months – 7.00 percent; For senior citizens – 7.50 percent
• 4 years 7 months 1 day to less than 5 years: For general public – 7.00%; For senior citizens – 7.50%
• 5 years to 10 years: For general public – 7.00 percent; For senior citizens – 7.50 percent

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New Delhi. The Reserve Bank of India (RBI) monitors the operations of all the banks in the country. Whenever a bank ignores the rules and acts arbitrarily, the RBI can impose a fine on it. In this connection, the RBI said on Wednesday that it has imposed a fine on HDFC Bank and Punjab and Sind Bank for lack of compliance with the rules.

The central bank said in a statement that HDFC Bank has been fined Rs 75 lakh for not following certain RBI instructions on ‘Know Your Customer’ (KYC). RBI said that Punjab and Sind Bank has been fined Rs 68.20 lakh for not following certain instructions on ‘Creation of a Central ‘Repository’ of Major Common Risks in Banks’ and ‘Financial Inclusion – Access to Banking Services – Basic Savings Bank Deposit Account (BSBDA)’.

The Reserve Bank has also imposed a fine of Rs 10 lakh on KLM Exiva Finvest
for not complying with the requirements related to the declaration of dividend.

Now what will happen to the customers’ money?

However, RBI said that this fine is based on deficiencies in regulatory compliance. Its purpose is not to decide on the validity of any transaction or agreement made by the bank with its customers.

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Staff of embassies of other countries located in India, non-diplomatic staff of the embassy and diplomats can take advantage of this scheme. In this scheme, the customer’s money will be in US dollars. Let us know about this scheme in detail.

No automatic renewal option

Under this fixed deposit scheme, money can be deposited for 1 month, 3 months, 6 months and 1 year. There is no option of automatic renewal in this scheme. This means that when the FD matures, the money will be credited to the customer’s foreign currency account. If the customer wants to put the deposited money in this scheme again, then he will have to fill the form again and complete all the formalities.

Minimum deposit amount $5000

The minimum deposit amount for HDFC Bank Diplomat FD Scheme is $5,000. After this, the investment can be increased in multiples of $1,000. The bank has not set any maximum limit for deposit in this scheme. Since, in this scheme the customer has to deposit dollars, the interest rate of this scheme matters a lot. In this scheme, the interest rate is updated on the first of every month. This means that the interest rate keeps changing every month.

Vidol allowed before maturity

HDFC Bank is the largest private sector bank in the country. Experts say that customers should know about the interest rate before investing money in this scheme. Once invested in this scheme, the duration of the FD cannot be changed. If needed, withdrawal of money from this scheme before maturity is allowed. But, for this the customer will have to pay a penalty.

Different interest rates for different periods

This scheme offers different interest rates for different periods. For example, the interest rate on one month deposit is 2.20 percent. On 3 month deposit it is 3.6 percent. On 6 month deposit it is 4.2 percent. On 1 year deposit it is 4.75 percent. In this scheme, the bank offers higher interest if the deposit period is longer.

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According to the bank, banking services will be temporarily closed on January 24 and 25 due to maintenance. This move will help provide a better banking experience to customers. Even before this, HDFC Bank had closed some services on January 17 and 18 due to maintenance.

HDFC Bank has announced that ChatBanking, SMS Banking and PhoneBanking IVR services will be under maintenance from 10:00 PM on January 24 to 2:00 PM on January 25 (total 16 hours). During this period, all these services will not be available to customers. UPI service will not be available on January 25. UPI service will be maintained on Friday. Services will be affected from 12:00 AM on January 25 to 3:00 AM (3 hours).

During this period, UPI transactions on HDFC Bank current and savings accounts, RuPay credit cards, HDFC mobile banking app and UPI services on TPAPs (Third Party Apps) will remain closed. Merchant UPI transactions will also be affected.

The bank has alerted its customers: HDFC Bank has sent this update to the customers through their registered email addresses. The bank has requested its customers to use other options during these dates and times. HDFC Bank says that this necessary maintenance is being done to further improve their service. However, customers are advised to make their financial plans keeping these dates in mind. Earlier on January 17 also, some customers did not get banking services. Then, customers faced problems in reloading Forex card through Forex prepaid card service, prepaid card netbanking and instant reload portal.

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The post Bank Service Closed: This bank’s services will remain closed for 2 days, Key Details Inside first appeared on Rightsofemployees.com.

17 January: Forex prepaid card service will not be available

HDFC Bank said that the forex prepaid card service will be operational from 2:00 am to 5:00 pm (3 hours) on January 17. During this time, forex card reloading will not be possible through prepaid card netbanking and instant reload portal. However, customers can reload forex cards using netbanking and mobile banking, which will be processed on the next working day (T+1).

18 and 25 January : UPI service will not be available

Maintenance will be done on UPI service on 18th and 25th January.

January 18: 12:00 midnight to 3:00 am (3 hours).

January 25 : 12:00 midnight to 3:00 am (3 hours).

During this period, UPI transactions on HDFC Bank current and savings accounts, Rupay credit cards, HDFC mobile banking app and UPI services on TPAPs (third party apps) will remain closed. Merchant UPI transactions will also be affected.

January 24-25: ChatBanking, SMS Banking and PhoneBanking IVR

HDFC Bank has announced that its ChatBanking, SMS Banking and PhoneBanking IVR services will be operational from 10:00 pm on January 24 to 2:00 pm on January 25 (total 16 hours). During this time, all these services will not be available to customers.

Alerts for customers

HDFC Bank has sent this update to the customers through the registered email address. The bank has requested its customers to use other options during these dates and times. HDFC Bank says that this necessary maintenance is being done to improve their service. However, customers have been advised to make their financial planning keeping these dates in mind.

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The post HDFC Bank Alert: HDFC Bank service will not be available for four days, Details Here first appeared on Rightsofemployees.com.

This increase has been done on FDs of only a few periods. However, HDFC Bank has not increased the interest on FDs up to Rs 3 crore. Rather, this time the interest rates on bulk FDs have been revised. The bank has changed the interest rates on FDs ranging from Rs 3 crore to Rs 5 crore. These new rates have come into effect from December 5, 2024.

HDFC Bank’s interest rates on FDs ranging from Rs 3 crore to Rs 5 crore

• 7 days to 14 days: For general public – 4.75%; For senior citizens – 5.25%
• 15 days to 29 days: For general public – 4.75%; For senior citizens – 5.25%
• 30 days to 45 days: For general public – 5.50 percent; For senior citizens – 6 percent
• 46 days to 60 days: For general public – 5.75 percent; For senior citizens – 6.25 percent
• 61 days to 89 days: For general public – 6 per cent; For senior citizens – 6.50 per cent
• 90 days to 6 months: For general public – 6.50 percent; For senior citizens – 7 percent
• 6 months 1 day to less than 9 months: For general public – 6.85 per cent; For senior citizens – 7.35 per cent
• 9 months 1 day to less than 1 year: For general public – 6.75 per cent; For senior citizens – 7.25 per cent
• Less than 1 year to 15 months: For general public – 7.40 percent; For senior citizens – 7.90 percent
• 15 months to less than 18 months: For general public – 7.05 per cent; For senior citizens – 7.55 per cent
• 18 months 1 day to less than 21 months: For general public – 7.25 per cent; For senior citizens – 7.75 per cent
• 21 months to 2 years: For general public – 7.05 percent; For senior citizens – 7.55 percent
• 2 years 1 day and upto 3 years: For general public – 7.00%; For senior citizens – 7.50%
• 3 years 1 day to 5 years – 7.00 percent; For senior citizens – 7.50 percent
• 5 years 1 day to 10 years: For general public – 7.00 percent; For senior citizens – 7.50 percent

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The post FD rate Hike: Good news! HDFC Bank has increased interest rates on Fixed Deposit. check latest rate first appeared on Rightsofemployees.com.

Whenever there is talk of savings, the name of Fixed Deposit i.e. FD definitely comes up. Your investment in Fixed Deposit is safe, along with this you get guaranteed returns. If you also want to invest in FD then this is useful news for you. It is very important for investors to compare the interest rates of different banks before investing in FD. Today we are going to tell you about the interest rates on FD offered by the top-7 banks on one year FD.

HDFC Bank

HDFC Bank is offering 6.6 per cent interest rate to general citizens and 7.1 per cent interest rate to senior citizens on one-year FD.

ICICI Bank

ICICI Bank is offering 6.7 per cent interest rate to general citizens and 7.2 per cent to senior citizens on FDs of one year to 15 months.

Kotak Mahindra Bank

Kotak Mahindra Bank is offering 7.1 per cent interest rate to general citizens and 7.6 per cent to senior citizens on one-year FD.

Federal Bank

Federal Bank is offering 6.8 per cent interest rate to general citizens and 7.3 per cent to senior citizens on one-year FD.

SBI

State Bank Of India is offering 6.8 per cent interest rate to general citizens and 7.3 per cent to senior citizens on one-year FD.

Punjab National Bank

Punjab National Bank is offering 6.85 percent interest rate to general citizens and 7.35 percent interest rate to senior citizens on one year FD.

Canara Bank

Canara Bank is offering 6.85 per cent interest rate to general citizens and 7.35 per cent interest rate to senior citizens on one-year FD.

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The post Super FD Rate: Top 7 Banks are offering BUMPER interest on FD – Check Details first appeared on Rightsofemployees.com.

The list of D-SIBs was released by the RBI on Wednesday. To be included in this list, lenders are required to maintain high ‘Common Equity Tier 1’ (CET 1) in addition to capital conservation reserves as per the ‘bucket’ under which it is classified.

HDFC Bank placed in ‘Bucket 2’

According to the list, State Bank of India (SBI) still remains in ‘Bucket 4’, for which the country’s largest lender will have to maintain an additional CET-1 of 0.80 percent. HDFC Bank, the largest private sector lender, has been placed in ‘Bucket 2’, under which it will have to maintain 0.40 percent more CET-1. The central bank said that the higher D-SIB surcharge for SBI and HDFC Bank will be applicable from April 1, 2025. ‘Therefore, the D-SIB surcharge applicable on SBI and HDFC Bank till March 31, 2025 will be 0.60 percent and 0.20 percent respectively.’

Categorization based on data till March 31

ICICI Bank has been categorized in ‘Bucket 1’, in which the second largest private sector lender will have to maintain an additional 0.20 percent in CET 1 reserves. RBI said that this classification is based on data collected from banks till March 31, 2024. The central bank first announced the framework to deal with D-SIBs in 2014. SBI and ICICI Bank were included in this list in 2015 and 2016. In 2017, HDFC Bank was also included in the list along with two other banks.

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The post Bank Update: New update to SBI-HDFC and ICICI bank account holders. Check Details Immediately first appeared on Rightsofemployees.com.

The bank is informing the customers about this. HDFC Bank’s UPI service will not be available from 12:00 midnight to 2:00 am on November 5 and from 12:00 midnight to 3:00 am on November 23.

During this time, financial and non-financial UPI transactions linked to HDFC Bank current and savings accounts and RuPay credit cards will be closed. This will also affect platforms like HDFC mobile banking app, Google Pay, WhatsApp Pay, Paytm, Shriram Finance, Mobikwik, and Credit Pay.

What is UPI?

UPI is a smartphone-based fund transfer process that allows users to send and receive money using a unique UPI ID.

Where to see UPI transactions?

Customers can view their transaction history in the ‘Transaction History’ tab under ‘UPI Payments’ in NetBanking. This information will also be available in the bank statement.

What to do if UPI transaction fails?

Transaction may fail due to wrong UPI PIN or less money in the account. So check your account balance before the transaction.

Who can use UPI?

Anyone with an active bank account, a linked mobile number, and a debit or credit card can use UPI.

What happens if I uninstall HDFC mobile banking app?

If users uninstall the HDFC mobile banking app, they will have to re-bind their device to get their UPI ID after installing the app again. Customers are advised to avoid UPI transactions during these scheduled times to avoid inconvenience.

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The post HDFC Bank’s UPI service to be unavailable for THESE two days in November; check details here first appeared on Rightsofemployees.com.

This offer is valid on Swiggy HDFC Bank Credit Card, Tata New Plus HDFC Bank Credit Card and Tata New Infinity HDFC Bank Credit Card till December 31. Earlier, HDFC Bank had given customers a chance to get Freedom Credit Card and BizFirst Credit Card without any annual fee till October 31.

Credit card annual charge

The Tata New Plus HDFC Bank credit card has an annual fee of Rs 499, while the Tata New Infinity HDFC Bank credit card has an annual fee of Rs 1,499. Similarly, the Swiggy HDFC Bank credit card has an annual fee of Rs 500.

What are the annual charges?

Almost all banks charge a joining fee and an annual fee for credit card facility. The joining fee is charged only once, while the annual fee is charged on your card every year. This fee may vary according to the bank. Some banks waive this fee, while some banks put a condition that if the customer makes a purchase of a certain amount every year, then the annual fee can be waived off.

festive season offer

Such offers during the festive season give customers a chance to take advantage of the credit card and avail it without any annual fee. This offer from HDFC Bank is a good option for customers who want to use the card without any annual fee.

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The post HDFC Bank: Festive offer for customers, no annual fee will be charged on these cards first appeared on Rightsofemployees.com.

According to Mint, this offer is valid till December 31 for Swiggy HDFC Bank Credit Card, Tata Neu Plus HDFC Bank Credit Card and Tata Neu Infinity HDFC Bank Credit Card.

Earlier, customers had the opportunity to apply for Freedom Credit Card and BizFirst Credit Card without annual fees till October 31.

Annual fees of popular credit cards

The annual fee of Tata New Plus HDFC Bank Credit Card is Rs 499 while the annual fee of Tata New Infinity HDFC Bank Credit Card is Rs 1,499. The annual fee of Swiggy HDFC Bank Credit Card is Rs 500.

What are annual charges?

Let us tell you that in almost all the banks that provide credit card facility, you have to pay joining fee and annual charge. Annual fee is the most common charge in the card which is levied on your card every year. You have to pay joining fee only once, while you have to pay annual charge every year. Annual charges vary according to the banks. However, some banks do not charge this charge. At the same time, some banks put a condition in front of the customers that you will be given a discount on annual charge if you do shopping of so many rupees every year.

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The post HDFC Bank offers credit cards without annual fee during festival season first appeared on Rightsofemployees.com.

SBI FD Interest Rates

SBI is offering 3.5-7.25 percent interest on FD. Senior citizens are being offered an additional interest of 0.50 percent. You are being given 7.10 percent interest on the bank’s 400-day Amrit Kalash FD. Senior citizens are being given up to 7.60 percent interest. Apart from this, 7.25 percent interest is being given under the 444-day Amrit Varshita Scheme.

2- ICICI Bank FD Interest Rates

ICICI Bank is giving interest ranging from 3% to 7.25% on FDs. Senior citizens are being given interest ranging from 3.5% to 7.8%. The bank is giving the highest interest of 7.25 and 7.8% on FDs with tenures ranging from 15 months to less than 18 months.

3- HDFC Bank FD Interest Rates

4- Canara Bank FD Interest Rates

5- Punjab National Bank FD Rates

Punjab National Bank is giving interest ranging from 3.5% to 7.25% on FD. Senior citizens are getting interest ranging from 4% to 7.75%. The highest interest is being given on FDs of 400 days duration.

The post FD Rates: These 5 big banks are giving high returns, check interest rates immediately first appeared on Rightsofemployees.com.

From October 1, 2024, the bank is going to make some big changes in the rules of credit card. Some important changes have been made in the loyalty program of select credit cards of HDFC and they will be implemented from October 1, 2024. All the customers using HDFC credit card have also been informed by the bank by sending mail in this regard.

Will anything change?

Under the new rules, if customers buy any Apple product using the ‘Smartbuy’ platform, then now they can get rewards for the purchase of this product only once in 3 months. Also, from October 1, 2024, you can now get reward points only once on a quarterly basis for shopping from Tanishq. Keep in mind that these changes will be applicable only on HDFC Bank’s Infinia and Infinia Metal Credit Cards.

There have been changes before

Let us tell you that on 1 September 2024, necessary changes were made in the rules of credit card by HDFC Bank. After these changes, a maximum of 2000 reward points could be obtained in a month for doing utility transactions through HDFC Bank credit card. Not only this, if you use HDFC Bank credit card to pay the bill of a telecom company, then a maximum of 2000 reward points can be obtained for this in a month. Also, no reward will be received on education payments made with the help of third party apps like CRED, Mobikwik.

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The post Credit Card Rules: HDFC Bank is going to change these credit card rules from October 1 – Check Details first appeared on Rightsofemployees.com.

The banking regulator has imposed a total fine of Rs 2.91 crore on Axis Bank and HDFC Bank.

Axis Bank fined Rs 1.91 crore

The Reserve Bank (RBI) said in a statement on Tuesday that Axis Bank violated some provisions of the Banking Regulation Act. Also, it did not follow some instructions on ‘interest rate on deposits’ and ‘know your customer (KYC)’ and ‘loan for agriculture’. Due to this, a fine of Rs 1.91 crore has been imposed on the bank.

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HDFC Bank will pay a fine of Rs 1 crore

In another statement, the central bank said that the largest private sector lender HDFC Bank did not follow certain instructions on ‘interest rates on deposits’, ‘recovery agents appointed by banks’ and ‘customer service in banks’. For this, it has been fined Rs 1 crore.

RBI also said that the fine has been imposed due to non-compliance of certain rules. It will not have any impact on the customers of the bank.

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The post RBI imposed heavy fine on Axis Bank, HDFC Bank, know the reason first appeared on Rightsofemployees.com.

RBI said that lenders may soon change the rates to attract deposits. Currently, fixed deposits (FDs) are giving interest up to 7.9 percent. If you are also planning to do FD, then this news is very useful for you. Today we are telling you about the latest interest rates of fixed deposits of India’s largest HDFC Bank, ICICI Bank and Axis Bank.

HDFC Bank vs ICICI Bank vs Axis Bank FD Rates

Currently, HDFC Bank, the country’s largest private sector lender, is offering FD rates of up to 7.9 per cent on fixed deposits of less than Rs 3 crore, depending on the age of the depositor and tenure. ICICI Bank is offering up to 7.8 per cent, while Axis Bank is offering up to 7.75 per cent. Here’s a comparison of the current fixed deposit (FD) interest rates offered by the three big banks HDFC Bank, ICICI Bank and Axis Bank on deposits of less than Rs 3 crore.

HDFC Bank latest interest rates on fixed deposits less than Rs 3 crore (per annum):

• 7 to 14 days: 3.00 per cent for general public; 3.50 per cent for senior citizens
• 15 to 29 days: 3.00 per cent for general public; 3.50 per cent for senior citizens
• 30 to 45 days: 3.50 per cent for general public; 4.00 per cent for senior citizens
• 46 to 60 days: 4.50 per cent for general public; 5.00 per cent for senior citizens
• 61 to 89 days: 4.50 per cent for general public; 5.00 per cent for senior citizens
• 90 to less than or equal to 6 months: 4.50 per cent for general public; Senior citizens – 5.00 per cent
• 6 months 1 day to less than 9 months: 5.75 per cent for general public; 6.25 per cent for senior citizens
• 9 months 1 day to less than 1 year: 6.00 per cent for general public; 6.50 per cent for senior citizens
• Less than 12 to 15 months: 6.60 per cent for general public; 7.10 per cent for senior citizens
• Less than 15 to 18 months: 7.10 per cent for general public; 7.50 per cent for senior citizens
• Less than 18 to 21 months: 7.25 per cent for general public; 7.75 per cent for senior citizens
• 21 to 22 months: 7.00 per cent for general public; 7.50 per cent for senior citizens
• 2 years 1 day to less than or equal to 2 years 11 months: 7.00 per cent for general public; 7.50 per cent for senior citizens
• 2 years 11 months to 35 months: 7.35 per cent for general public; 7.85 per cent for senior citizens
• 2 years 11 months 1 day to less than or equal to 3 years: 7.00 per cent for general public; 7.50 per cent for senior citizens
• 3 years 1 day to less than or equal to 4 years 7 months: 7.00 per cent for general public; 7.50 per cent for senior citizens
• 4 years 7 months to 55 months: 7.40 per cent for general public; 7.90 per cent for senior citizens
• 4 years 7 months 1 day to less than or equal to 5 years: 7.00 per cent for general public; 7.50 per cent for senior citizens
• 5 years 1 day to 10 years: 7.00 per cent for general public; 7.50 per cent for senior citizens.

Axis Bank FD interest rates (for deposits less than Rs 3 crore):

• 7 to 14 days: 3.00 per cent for general public; 3.50 per cent for senior citizens
• 15 to 29 days: 3.00 per cent for general public; 3.50 per cent for senior citizens
• 30 to 45 days: 3.50 per cent for general public; 4.00 per cent for senior citizens
• 46 to 60 days: 4.25 per cent for general public; 4.75 per cent for senior citizens
• 61 days to less than 3 months: 4.50 per cent for general public; 5.00 per cent for senior citizens
• 3 months to 3 months 24 days: 4.75 per cent for general public; 5.25 per cent for senior citizens
• 3 months 25 days to less than 4 months: 4.75 per cent for general public; 5.25 per cent for senior citizens
• 4 months to less than 5 months: 4.75 per cent for general public; 5.25 per cent for senior citizens
• Less than 5 to 6 months: 4.75 per cent for general public; 5.25 per cent for senior citizens
• Less than 6 to 7 months: 5.75 per cent for general public; 6.25 per cent for senior citizens
• Less than 7 to 8 months: 5.75 per cent for general public; 6.25 per cent for senior citizens
• Less than 8 to 9 months: 5.75 per cent for general public; 6.25 per cent for senior citizens
• Less than 9 to 10 months: 6.00 per cent for general public; 6.50 per cent for senior citizens
• Less than 10 to 11 months: 6.00 per cent for general public; 6.50 per cent for senior citizens
• 11 months to less than 11 months 25 days: 6.00 per cent for general public; 6.50 per cent for senior citizens
• 11 months 25 days to less than 1 year: 6.00 per cent for general public; 6.50 per cent for senior citizens
• 1 year to less than 13 months: 6.70 per cent for general public; 7.20 per cent for senior citizens
• 13 months to less than 14 months: 6.70 per cent for general public; 7.20 per cent for senior citizens
• 14 months to less than 15 months: 6.70 per cent for general public; 7.20 per cent for senior citizens
• 15 months to less than 16 months: 7.10 per cent for general public; 7.60 per cent for senior citizens
• 16 months to less than 17 months: 7.10 per cent for general public; 7.60 per cent for Senior citizens
• 17 months to less than 18 months: 7.20 per cent for general public; 7.70 per cent for Senior citizens
• 18 months to less than 2 years: 7.10 per cent for general public; 7.60 per cent for Senior citizens
• 2 years to less than 30 months: 7.10 per cent for general public; 7.60 per cent for Senior citizens
• 30 months to less than 3 years: 7.10 per cent for general public; 7.60 per cent for Senior citizens
• 3 years to less than 5 years: 7.10 per cent for general public; 7.60 per cent for Senior citizens
• 5 years to 10 years: 7.00 per cent for general public; 7.75 per cent for Senior citizens.\

ICICI Bank latest interest rates on fixed deposits less than Rs 3 crore:

• 7 to 29 days: 3.00 percent for general public; 3.50 percent for senior citizens
• 30 to 45 days: 3.50 percent for general public; 4.00 percent for senior citizens
• 46 to 60 days: 4.25 percent for general public; 4.75 percent for senior citizens
• 61 to 90 days: 4.50 percent for general public; 5.00 percent for senior citizens
• 91 to 184 days: 4.75 percent for general public; 5.25 percent for senior citizens
• 185 to 270 days: 5.75 percent for general public; 6.25 percent for senior citizens
• 271 to less than 1 year: 6.00 percent for general public; 6.50 percent for senior citizens
• Less than 1 year to 15 months: 6.70 percent for general public; 7.20 per cent for senior citizens
• Less than 15 to 18 months: 7.25 per cent for general public; 7.80 per cent for senior citizens
• 18 months to 2 years: 7.25 per cent for general public; 7.75 per cent for senior citizens
• 2 years 1 day to 5 years: 7.00 per cent for general public; 7.50 per cent for senior citizens
• 5 years 1 day to 10 years: 6.90 per cent for general public; 7.40 per cent for senior citizens
• 5 Years (Tax Saver FD): 7.00 per cent for general public; 7.50 per cent for senior citizens.

The post HDFC Bank Vs Axis Bank Vs ICICI Bank, which bank is giving the highest interest on FD, check here first appeared on Rightsofemployees.com.

This is a service through which funds can be transferred quickly and securely between banks in India. It is also quite economical.

There is also two-factor authentication when transferring money through IMPS. There is also a limit if IMPS is used for fund transfer. Customers do not need to register for mobile banking when initiating an IMPS transaction through ATM or online channel. Similarly, customers also do not need to register for withdrawing money through mobile banking or account number/IFSC.

Let us know what are the charges of banks for IMPS money transfer

SBI IMPS Charges:

There is no charge for transactions from ₹1 to ₹5,00,000.

HDFC Bank IMPS Charges:

₹0 – ₹1000: ₹3.50 + applicable GST

₹1001 – ₹100000: ₹5 + applicable GST

Above ₹100000: ₹15 + applicable GST

Also Read: Delhi PUC Challan: Vehicles entering petrol pumps without PUC certificates to face hefty fines

Axis Bank IMPS Charges:

Up to ₹1000: ₹2.50 per transaction

₹1,000 to ₹1,00,000: ₹5 per transaction

₹1,00,000 to ₹5,00,000: ₹10 per transaction

Additional taxes are applicable.

Canara Bank IMPS Charges:

₹0 to ₹25,000: No charges

₹25,001 to ₹100,000: ₹8 + GST

₹100,001 to ₹500,000: ₹15 + GST

₹10,000 to ₹1 lakh: ₹475

₹1 lakh to ₹50 lakh: ₹500

Kotak Mahindra Bank IMPS Charges:

No charge

YES Bank IMPS Charges:

There are no charges for transactions made through the mobile app.

A charge of ₹5 + GST ​​is applicable for using IMPS through Net Banking.

IMPS is a convenient and safe option that provides instant money transfer service. However, it is important to be aware of the charges and rules applicable while making the transaction.

The post IMPS Charges: SBI, HDFC Bank, ICICI Bank, Canera Bank IMPS charges from August 2024 first appeared on Rightsofemployees.com.

The bank has informed its customers about this scheduled downtime through email.

When will UPI services be closed?

According to the email sent by HDFC Bank, UPI services will not be available from 2:30 am to 5:30 am on August 10, 2024. That is, HDFC Bank’s UPI service will not be available for a full three hours.

This service will not be available on August 10

Financial and non-financial transactions will not be possible for HDFC Bank Current and Savings Account (CASA) holders. All financial and non-financial transactions related to HDFC Bank accounts will not be possible through HDFC Bank mobile banking app, Google Pay, WhatsApp Pay, PayTM, Shriram Finance and Mobikwik.

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What is the UPI limit in HDFC Bank?

According to HDFC Bank, the limit for P2P (person to person) transactions is Rs 1 lakh or 20 transactions per 24 hours.

What is UPI?

UPI (Unified Payment Interface) is a fund transfer service via smartphones that allows customers to send and receive money using a unique UPI ID. Customers of HDFC Bank and other participating banks can use it.

The post HDFC Bank is going to temporarily discontinue UPI service on 10th August 2024 first appeared on Rightsofemployees.com.

Due to this, you will get only 2000 reward points every month on utility transactions. Apart from this, reward points will not be given on education payments. Earlier, many banks have changed the rules to stop the use of personal cards in commercial and business transactions.

Many rules of credit card were also changed from August 1

HDFC Bank had changed many new rules on credit card from August 1. In this, 1 percent fee is being charged for utility transactions of more than Rs 50 thousand. Apart from this, this limit has been made 75 thousand rupees per transaction on business cards. However, insurance bill is not considered a utility transaction. Now the limit of maximum points available in a month has also been fixed. Also, a cap of 2000 reward points in a month has been imposed on mobile and cable bills.

Also Read: LIC launched 4 new plans – Check benefits, eligibility, other details

Use of personal credit card in business transactions

The bank has informed that in many cases people have used personal credit cards for business transactions. Reward points are also being earned by paying bills of other people. This also gives them the benefit of offers based on expenditure. Now after imposing a limit on reward points, the credit card cannot be misused.

You will not get any benefit on payment through third party apps like Cred

Along with this, HDFC Bank has said that no reward points will be given for making education payments through third party apps like CRED, PayTM, Cheq and MobiKwik. However, reward points will be given for paying fees directly from the school or college website or POS machine. As per the rules implemented on fee payment from August 1, 1 percent fee is being charged on transactions made through third party apps.

The post HDFC Bank again changed the rules of credit card, Will be implemented from September 1 first appeared on Rightsofemployees.com.

Paying rent through third party apps will be expensive

1 percent charge will be levied on all rental transactions done through third-party payment apps like CRED, Paytm, Mobikwik, Freecharge. This charge will be capped at Rs 3,000 per transaction. These rules will come into effect from August 1.

Extra charge will be levied on educational transactions too

Apart from rent payment, educational transactions are also going to be expensive. The charge on payment through third party apps for educational transactions has also been increased to 1%. However, there will be no charge on transactions through the college or school website or their POS machines and international educational payments.

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Fuel transactions will also become expensive.

If you make a fuel payment of less than Rs 15,000 through HDFC Bank credit card, you will not be charged extra. However, if you make a fuel payment of more than Rs 15,000 at one go, you will have to pay 1% extra charge, the maximum limit of which is Rs 3,000.

Utility payments will become expensive

If you use a credit card to pay utility bills, then you need to be cautious. Actually, there will be no extra charge for utility transactions of less than Rs 50,000 through HDFC Bank credit card, while on payments above this amount, you will have to pay 1% charge per payment, which has a limit of Rs 3,000 per transaction.

Change in late payment charges:

The late payment fee structure has been revised based on the outstanding amount, which will range from Rs 100 to Rs 300.

Change in Tata Neu Card rules as well

If you are a user of Tata Neu Infinity HDFC Bank Credit Card and Tata Neu Plus HDFC Bank Credit Card, then there is bad news for you. There is going to be a big change in the cashback structure on UPI payments made through these two credit cards. These changes will also come into effect from August 1, 2024. Now if you make UPI payments by linking these cards to the Tata Neu app, then you will get more benefits. If you make UPI payments by linking these cards to other UPI apps except the Tata Neu app, then you will get less benefits.

The post New Credit Card Rules: These new rules for HDFC Bank credit card will be implemented from August 1 first appeared on Rightsofemployees.com.

35 month and 55 month FDs have been increased by 20 basis points to 7.35 percent and 7.40 percent respectively. The bank is offering a maximum interest rate of 7.40 percent on FDs maturing in 4 years 7 months to 55 months. Here ICICI Bank and Axis Bank have also been compared. These banks are offering a maximum interest rate of 7.20 percent.

HDFC Bank interest rates on FDs up to Rs 3 crore

• 7 days to 14 days: For general public – 3.00%; For senior citizens – 3.50%
• 15 days to 29 days: For general public – 3.00%; For senior citizens – 3.50%
• 30 days to 45 days: For general public – 3.50%; For senior citizens – 4.00%
• 46 days to 60 days: For general public – 4.50%; For senior citizens – 5.00%
• 61 days to 89 days: For general public – 4.50 percent; For senior citizens – 5.00 percent
• 90 days to 6 months: For general public – 4.50%; For senior citizens – 5.00%
• 6 months 1 day to less than 9 months: For general public – 5.75 per cent; For senior citizens – 6.25 per cent
• 9 months 1 day to less than 1 year: For general public – 6.00 per cent; For senior citizens – 6.50 per cent
• Less than 1 year to 15 months: For general public – 6.60 percent; For senior citizens – 7.10 percent
• 15 months to less than 18 months: For general public – 7.10 per cent; For senior citizens – 7.50 per cent
• 18 months to less than 21 months: For general public – 7.25 per cent; For senior citizens – 7.75 per cent
• 21 months to 2 years: For general public – 7.00 percent; For senior citizens – 7.50 percent
• 2 years 1 day to less than 2 years 11 months: For general public – 7.00 per cent; For senior citizens – 7.50 per cent
• 2 years 11 months to 35 months: For general public – 7.35 percent; For senior citizens – 7.85 percent
• 2 years 11 months 1 day to less than or equal to 3 years: For general public – 7.00 per cent; For senior citizens – 7.50 per cent
• 3 years 1 day to less than 4 years 7 months: For general public – 7.00 per cent; For senior citizens – 7.50 per cent
• 4 years 7 months to 55 months: For general public – 7.40 percent; For senior citizens – 7.90 percent
• 4 years 7 months 1 day to less than or equal to 5 years: For general public – 7.00 per cent; For senior citizens – 7.50 per cent
• 5 years 1 day to 10 years: For general public – 7.00 per cent; For senior citizens – 7.50 per cent.

ICICI Bank interest rates on FDs up to Rs 3 crore

• 7 days to 29 days: For general public – 3.00%; For senior citizens – 3.50%
• 30 days to 45 days: For general public – 3.50%; For senior citizens – 4.00%
• 46 days to 60 days: For general public – 4.25 percent; For senior citizens – 4.75 percent
• 61 days to 90 days: For general public – 4.50%; For senior citizens – 5.00%
• 91 days to 184 days: For general public – 4.75 percent; For senior citizens – 5.25 percent
• 185 days to 270 days: For general public – 5.75 percent; For senior citizens – 6.25 percent
• 271 days to less than 1 year: For general public – 6.00 percent; For senior citizens – 6.50 percent
• Less than 1 year to 15 months: For general public – 6.70 percent; For senior citizens – 7.20 percent
• 15 months to less than 18 months: For general public – 7.20 per cent; For senior citizens – 7.75 per cent
• 18 months to 2 years: For general public – 7.20 percent; For senior citizens – 7.70 percent
• 2 years 1 day to 5 years: For general public – 7.00 percent; For senior citizens – 7.50 percent
• 5 years 1 day to 10 years: For general public – 6.90 percent; For senior citizens – 7.40 percent
• 5 Years (Tax Saver FD): For general public – 7.00 per cent; For senior citizens – 7.50 per cent.

Axis Bank Interest Rates – FDs up to Rs. 3 Crores

• 7 days to 14 days: For general public – 3.00%; For senior citizens – 3.50%
• 15 days to 29 days: For general public – 3.00%; For senior citizens – 3.50%
• 30 days to 45 days: For general public – 3.50%; For senior citizens – 4.00%
• 46 days to 60 days: For general public – 4.25 percent; For senior citizens – 4.75 percent
• 61 days to less than 3 months: For general public – 4.50 percent; For senior citizens – 5.00 percent
• 3 months to 3 months 24 days: For general public – 4.75 per cent; For senior citizens – 5.25 per cent
• 3 months 25 days to less than 4 months: For general public – 4.75 per cent; For senior citizens – 5.25 per cent
• 4 months to less than 5 months: For general public – 4.75 per cent; For senior citizens – 5.25 per cent
• 5 months to less than 6 months: For general public – 4.75 per cent; For senior citizens – 5.25 per cent
• 6 months to less than 7 months: For general public – 5.75 per cent; For senior citizens – 6.25 per cent
• 7 months to less than 8 months: For general public – 5.75 per cent; For senior citizens – 6.25 per cent
• 8 months to less than 9 months: For general public – 5.75 per cent; For senior citizens – 6.25 per cent
• 9 months to 10 months: For general public – 6.00 percent; For senior citizens – 6.50 percent
• 10 months to less than 11 months: For general public – 6.00 per cent; For senior citizens – 6.50 per cent
• 11 months to 11 months 24 days: For general public – 6.00 per cent; For senior citizens – 6.50 per cent
• 11 months 25 days to less than 1 year: For general public – 6.00 per cent; For senior citizens – 6.50 per cent
• 1 year to 1 year 4 days: For general public – 6.70 percent; For senior citizens – 7.20 percent
• 1 year 5 days to 1 year 10 days: For general public – 6.70 percent; For senior citizens – 7.20 percent
• 1 year 11 days to 1 year 24 days: For general public – 6.70 percent; For senior citizens – 7.20 percent
• 1 year 25 days to less than 13 months: For general public – 6.70 percent; For senior citizens – 7.20 percent
• 13 months to less than 14 months: For general public – 6.70 per cent; For senior citizens – 7.20 per cent
• 14 months to less than 15 months: For general public – 6.70 per cent; For senior citizens – 7.20 per cent
• 15 months to less than 16 months: For general public – 7.10 per cent; For senior citizens – 7.60 per cent
• 16 months to less than 17 months: For general public – 7.10 per cent; For senior citizens – 7.60 per cent
• 17 months to less than 18 months: For general public – 7.20 per cent; For senior citizens – 7.85 per cent
• 18 months to less than 2 years: For general public – 7.10 percent; For senior citizens – 7.60 percent
• 2 years to 30 months: For general public – 7.10 percent; For senior citizens – 7.60 percent
• 30 months to less than 3 years: For general public – 7.10 percent; For senior citizens – 7.60 percent
• 3 years to less than 5 years: For general public – 7.10 percent; For senior citizens – 7.60 percent
• 5 years to less than 10 years: For general public – 7.00 per cent; For senior citizens – 7.75 per cent.

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After the budget, HDFC Bank has increased the FD rates by 0.20 percent. HDFC Bank is offering FDs from 7 days to 10 years. This increase has been made on FDs of only a few periods. These new rates have come into effect from today, 24 July 2024.

HDFC Bank interest rates on FDs up to Rs 2 crore

• 7 days to 14 days: For general public – 3%; For senior citizens – 3.50%
• 15 days to 29 days: For general public – 3%; For senior citizens – 3.50%
• 30 days to 45 days: For general public – 3.50 percent; For senior citizens – 4 percent
• 46 days to 60 days: For general public – 4.50%; For senior citizens – 5.00%
• 61 days to 89 days: For general public – 4.50 percent; For senior citizens – 5 percent
• 90 days to 6 months: For general public – 4.50 percent; For senior citizens – 5 percent
• 6 months 1 day to less than 9 months: For general public – 5.75 per cent; For senior citizens – 6.25 per cent
• 9 months 1 day to less than 1 year: For general public – 6.00 per cent; For senior citizens – 6.50 per cent
• Less than 1 year to 15 months: For general public – 6.60 percent; For senior citizens – 7.10 percent
• 15 months to less than 18 months: For general public – 7.10 per cent; For senior citizens – 7.60 per cent
• 18 months 1 day to less than 21 months: For general public – 7.25 per cent; For senior citizens – 7.75 per cent
• 21 months to 2 years: For general public – 7.00 percent; For senior citizens – 7.50 percent
• 2 years 1 day and less than 2 years 11 months: For general public – 7.00 per cent; For senior citizens – 7.50 per cent
• 2 years 11 months 1 day and upto 35 months – 7.35 percent; For senior citizens – 7.85 percent
• 2 years 11 months 1 day and upto 3 years – 7.00 percent; For senior citizens – 7.50 percent
• 3 years 1 day to 4 years 7 months – 7.00 percent; For senior citizens – 7.50 percent
• 4 years 7 months to 55 months – 7.40 percent; For senior citizens – 7.90 percent
• 4 years 7 months 1 day to less than 5 years: For general public – 7.00%; For senior citizens – 7.50%
• 5 years to 10 years: For general public – 7.00%; For senior citizens – 7.50%

The post HDFC Bank has increased the interest rates on FDs for this period. Details first appeared on Rightsofemployees.com.

The bank says that banking services will be closed temporarily for some time. The bank has sent this information to the customers through email. Due to system maintenance, you will not be able to use some services of the bank from today 20 July to tomorrow Sunday 21 July. This ban will last for 7.15 hours. The bank does maintenance work from time to time to enhance customer experience and improve service quality.

From when to when will HDFC Bank’s services remain closed

According to the information sent by the bank, banking services will be closed from 11:30 pm on Saturday 20 July 2024 to 6:45 am on Sunday 21 July 2024. This means that its services will be stalled for 7.15 hours. During this time net banking, mobile banking will remain closed. In such a situation, the bank has advised the customers to complete all the important banking related work before 11:30 pm.

Also Read: Microsoft Outage: Online payment gateways failed, employees’ salaries also stuck

These services will not be stopped

Some services of HDFC Bank will remain suspended from midnight today till tomorrow morning due to maintenance. However, if there is an emergency need during this time, it does not mean that cash will not be available. During this time, ATM services will remain operational, meaning you will be able to withdraw cash. Apart from this, you will also be able to use online debit and credit cards at stores and UPI transactions will also continue.

The post HDFC Bank’s Services: HDFC Bank’s net banking will remain closed till this hour today. first appeared on Rightsofemployees.com.

Speaking to ET, Ankur Mittal, co-founder and CTO of CardInsider.com, said, “Only a few credit cards in India offer reward points on income tax. A few select cards, such as HDFC BizBlack and HDFC BizPower credit cards, offer reward points for tax payments. These cards offer savings of up to 16 per cent and 8 per cent on income tax and GST payments respectively.”

Milestone rewards on these credit cards

Mittal further said that apart from these, you can also use other credit cards SBI Vistara Cards/IDFC Vistara Card which also offer milestone rewards on payment of income tax such as SBI Vistara Card/IDFC Vistara Card where you can get complimentary flight tickets on reaching the milestone.

Also Read: IRDA: Insurance Amendment Bill may be introduced in Budget 2024, you will get these benefits

July 31 is the last date to file ITR.

If you have not filed income tax return for the financial year 2023-24 (AY 2024-25), then hurry up. Actually, July 31 is its last date. After this, a fine will be charged by the Income Tax Department. If someone does not file ITR even by July 31, then he is given a chance to file belated return till December 31 with a penalty.

The post Tax Saving Options: Save up to 16% on income tax payment, just pay with these credit cards first appeared on Rightsofemployees.com.

HDFC Bank had already informed its customers about this through email, social media platforms and messages. HDFC Bank said that some services will not be available during the system upgrade on Saturday, July 13. HDFC Bank has planned a system upgrade for HDFC Bank related services on the given dates, due to which the service will not be available during that time.

Also Read: ITR Filing: These documents are required to file ITR, otherwise the work will get stuck!

When will HDFC Bank service not be available

13 July 2024 from 3:00 am to 4:30 pm IST. That is, customers will not get bank service for about 13 hours.

hdfc bank system upgrade date and time

Date: Saturday, July 13, 2024

Time: 3:00 AM to 4:30 PM (Period: 13 and a half hours)

As per the bank’s official website, the services that will not be available on HDFC Bank Net Banking and Mobile Banking app are:

This service will not be available during this period

Bank account related services

Deposit in bank account

IMPS, NEFT, RTGS services related to fund transfer will not be available.

bank passbook download

External Merchant Payment Service

Instant account opening

UPI Payment

System Upgrade Alert!

The post HDFC Bank’s online service will not be available till this time tonight, you can just do this work, check the list first appeared on Rightsofemployees.com.

HDFC Bank said that some services will not be available during the system upgrade on Saturday, July 13. HDFC Bank has planned a system upgrade for HDFC Bank related services on the given dates, due to which the service will not be available during that time. Customers have been requested to settle their banking services in advance or later. Know here when HDFC Bank’s online service will not be available.

When will HDFC Bank service not be available

13 July 2024 from 3:00 am to 4:30 pm IST. That is, customers will not get bank service for about 13 hours. The bank is asking customers to settle bank related and money transfer in advance. According to HDFC Bank’s email, to minimize the inconvenience, we have decided to do this upgrade on the second Saturday bank holiday. The bank said that then it is advising its customers to do their bank work in advance. Banks are working to improve their systems to provide better service to customers. HDFC Bank has emailed its customers to inform that it is upgrading the system to improve online service, manage high traffic.

HDFC bank system upgrade date and time

Date: Saturday, July 13, 2024

Time: 3:00 AM to 4:30 PM (Period: 13 and a half hours)

As per the bank’s official website, the services that will not be available on HDFC Bank Net Banking and Mobile Banking app are:

This service will not be available during this period

• Bank account related services
• Deposit in bank account
• IMPS, NEFT, RTGS services related to fund transfer will not be available.
• bank passbook download
• External Merchant Payment Service
• Instant account opening
• UPI Payment

The post HDFC Bank: HDFC Bank’s online service will not be available for 13 hours on this date, check the timing first appeared on Rightsofemployees.com.

The bank has informed its customers through email and SMS that all HDFC Bank mobile banking services will not be available. HDFC Bank has planned a system upgrade for HDFC Bank related services on the given dates, due to which the service will not be available during that time. Customers have been requested to settle their banking services in advance or later. Know here when HDFC Bank’s online service will not be available.

When will HDFC Bank service not be available

13 July 2024 from 3:00 am to 4:30 pm IST. That is, customers will not get bank service for about 13 hours.

According to HDFC Bank’s email, to minimize inconvenience, we have scheduled this upgrade on the second Saturday of the bank holiday. The bank said that it is then advising its customers to do their banking work earlier. Banks are working to improve their systems to provide better service to customers. HDFC Bank has emailed its customers to inform them that it is upgrading the system to improve online service and manage high traffic.

Also Read: Post Office’s superhit scheme! You will get 80000 rupees interest, check details

What will you get this service

As per the bank’s official website, the services that will not be available on HDFC Bank NetBanking and MobileBanking app are:

This service will not be available during this period

• Bank account related services
• Deposit in bank account
• IMPS, NEFT, RTGS services related to fund transfer will not be available.
• bank passbook download
• External Merchant Payment Service
• Instant account opening
• UPI Payment

Even before this, this service was not available due to maintenance

In the first scheduled maintenance, HDFC Bank debit, credit and prepaid card transactions will be available in online service on June 4 and June 13 due to system upgrade.

Will HDFC Bank RuPay cards work?

HDFC Bank RuPay Card will also not work for online transactions on other (non HDFC Bank) payment gateways.

What is the new limit for SMS alerts for UPI transactions?

HDFC Bank customers will now get SMS updates only for transactions above Rs 100 (money sent/paid) and Rs 500 (money received).

The post HDFC Bank: HDFC Bank mobile banking service will not be available for 13 hours, check timing first appeared on Rightsofemployees.com.

HDFC Bank UPI Update: If you are a customer of private sector HDFC Bank, then there is a big news for you. On July 13, HDFC customers will not be able to use some services including UPI. Actually, HDFC Bank will upgrade the system on July 13, due to which the UPI service of the bank will also be temporarily affected. Also, in the meantime, customers will not be able to check their bank balance.

It’s time for a system upgrade

The purpose of the system upgrade is to improve the performance and capabilities of the bank and to increase reliability. According to the bank, the time for the system upgrade is 3 am on July 13 and it will be completed by 4.30 pm on the same day. During this period, customers will not be able to avail some services. UPI services will be closed at two specific times.

Also Read: Govt issued guidelines for issuing CGHS cards for central government employees and pensioners

These services including UPI will remain closed at this time

According to the information, on July 13, UPI service will not work from 3:00 am to 3:45 pm and from 9:30 am to 12:45 pm. Netbanking and mobile banking services will not be available during the entire upgrade period. Apart from this, all fund transfer modes including IMPS, NEFT, RTGS will also not be available during the upgrade period.

Transactions will continue through debit card and credit card

During the system upgrade period, customers can withdraw cash from any ATM using their HDFC Bank debit card or credit card. At the same time, the bank balance will be shown based on the balance at 7.30 pm on July 12. Apart from this, customers can continue to use their HDFC Bank debit card or credit card on swipe machines at shops. HDFC debit card and credit card can continue to make online purchases, reset PIN or do other card activities.

Advice from the bank

To avoid any kind of disruption, the bank has advised to withdraw sufficient amount and complete all the necessary work like fund transfer etc. before 7:30 pm on 12 July 2024. To reduce the inconvenience, this work will be done by the bank on Saturday, 13 July 2024. Banks will remain closed on this day due to being the second Saturday. For more information and updates, visit HDFC Bank website or contact customer service.

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If you use the account of HDFC Bank, the largest private sector bank, for UPI payment, then you need to be careful. Actually, HDFC Bank has brought a big update for its customer. Bank customers will not get SMS for UPI transaction of less than a certain amount. This decision is coming into effect from June 25, 2024.

In the information sent by the bank to the customers, it has been told that some changes are being made in your SMS alert service from June 25, 2024. If you send an amount of more than Rs 100 to someone through UPI, only then SMS alert will be sent. Apart from this, SMS alert will be sent only if you receive an amount of more than Rs 500. However, email alerts will continue to be sent for all types of transactions.

Why is HDFC Bank making changes regarding SMS?

Banking regulations require text messages for every transaction above Rs 5,000. Despite this, many banks send messages even for low-value debits. According to bankers, the cost of bulk SMS messages is Rs 0.01-0.03 per SMS. The daily average of UPI transactions is around 40 crore, while banks spend several crores on text message alerts every day.

UPI facility was started in the year 2016.

Let us tell you that Unified Payment Interface i.e. UPI is a real time payment system. UPI payment system was started in the year 2016. UPI system is operated by National Payment Corporation of India (NPCI).

The post HDFC Bank SMS Alerts: HDFC Bank will discontinue SMS alerts for UPI transactions less than Rs 100 from June 25, 2024 first appeared on Rightsofemployees.com.

The country’s largest private sector bank HDFC Bank has given a gift to its crores of customers. After the RBI’s monetary policy meeting, HDFC Bank has increased the interest rates on Fixed Deposit. The bank is offering FDs from 7 days to 10 years. The bank has increased the interest rate on FDs by 20 basis points i.e. 0.20 percent. This increase has been made on FDs of only a few periods. These new rates have been implemented from today, June 10, 2024.

HDFC Bank added new FD

The bank has added a new period option for FDs of 2 years to 5 years. HDFC Bank has added FDs with periods of 2 years 11 months 1 day to 3 years, 3 years 1 day to 4 years 7 months, 4 years 7 months to 55 months, 4 years 7 months 1 day to less than 5 years. On this, the bank is offering 7.70 percent interest to senior citizens.

Also Read: Post Office: By saving just Rs 2,778, you will get Rs 14,49,948 in 5 years. Details here

HDFC Bank interest rates on FDs up to Rs 2 crore

The post HDFC Bank increased fixed deposit rates on select tenues. All you need to know first appeared on Rightsofemployees.com.

When will HDFC Bank services be disrupted?

According to HDFC Bank, its debit, credit and prepaid card services will be affected on June 4 and June 6. The bank will upgrade debit, credit and prepaid card services on June 4 (Tuesday). This will affect all ATM withdrawals, POS, online and Netsafe transactions. This system upgrade will run from 12:30 am to 2:30 am.

On June 6, HDFC Bank will also upgrade the system related to debit, credit and prepaid cards. This will affect all online transactions for RuPay and Netsafe. This system upgrade will also run from 12:30 am to 2:30 am.

Also Read: RBI gave a big update regarding 500 rupees and 2,000 rupees notes, know what it said

What did HDFC Bank say?

HDFC Bank’s debit, credit and prepaid card transactions will be temporarily down during the system upgrade on both days. The bank has appealed to its customers to plan their card payments before or after the upgrade time so that they do not face any inconvenience.

HDFC Bank has also issued helpline number 1800 1600 / 1800 2600 to complain about any payment related problem. This number is for India. Customers living abroad can call 022-61606160 for any help.

Ongoing system upgrades

Earlier, HDFC Bank had also upgraded its system on 22 and 25 May. During that time, the bank’s net banking and mobile banking services were affected. Also, card services were also affected. The bank had informed the customers about that scheduled maintenance through SMS.

The post HDFC Bank has sent an email to its customers informing them about the system upgrade first appeared on Rightsofemployees.com.

Some banks and card issuers have changed their credit card related fees, charges and rules in May 2024. Credit card customers should be aware of the changes and ensure to follow the latest fees and guidelines prescribed by the bank or credit card company. The banks that have changed their credit card rules this month are Bank of Baroda, Yes Bank, IDBI Bank and HDFC Bank.

Swiggy HDFC Bank Credit Card

If you are a user of Swiggy HDFC Bank Credit Card, then there is good news for you. Now the cashback structure of this credit card has been revised. These changes will be effective from June 21, 2024. Any cashback earned from June 21 will be visible in the credit card statement instead of Swiggy Money. This means that the cashback will reduce the statement balance of the next month. In this way your bill will be reduced.

Also Read: Petrol-Diesel Prices: New prices of petrol and diesel released, know the rate before filling the tank

IDFC First Bank

IDFC First Bank has said that it will charge 1% plus GST extra if the total amount of payment made through credit card for utility bills exceeds Rs 20,000. If your utility bill transactions (gas, electricity and internet) within a statement cycle are Rs 20,000 or less, then there will be no surcharge. However, there will be no utility surcharge on First Private Credit Card, LIC Classic Credit Card and LIC Select Credit Card.

BOBCARD One

Bank of Baroda has increased the interest rate and late payment fee on its BOBCARD One co-branded credit card. The increased rates will be effective from June 26, 2024.

Yes Bank

Yes Bank has revised various aspects of all its credit cards, except the ‘Private’ credit card type. These changes only affect the fuel fee category on some of the bank’s credit card types. These changes are related to the calculation of expenditure level for waiver of annual and joining fees, with the exception of ‘Private’. The terms of extra fee for utility transactions have also changed.

The post New Credit Card Rules: Do you also use credit card? These 4 banks changed the rules in May first appeared on Rightsofemployees.com.

In fact, the bank has informed its customers that its net banking and mobile banking will not work for some time on May 25. HDFC Bank has given this information to its customers by sending SMS.

According to this, ‘Scheduled Maintenance: Some transactions on HDFC Bank Net Banking and Mobile Banking App will be unavailable from 3:30 am to 6:30 am on May 25.’

Also Read: IndiGo has announced the launch of business class service

At the same time, the bank’s website states, ‘Accounts, deposits, fund transfers (NEFT, IMPS, RTGS and within bank transfers), online payments and some other transactions will not be available from 3:30 am to 6:30 am on May 25. During this time, customers will also not be able to make payments through UPI.’

Earlier on May 22, HDFC Bank had informed customers that card services would be affected due to scheduled maintenance. This included cash transactions from ATMs, pre-paid cards and credit card services. Also, in-store purchases, online transactions, prepaid card reloading were also not available.

The post HDFC Bank’s net banking, mobile banking, UPI will remain closed during this period first appeared on Rightsofemployees.com.

India’s largest private bank HDFC Bank has taken a big decision. HDFC Bank has reduced the notice period of employees leaving the company from 90 days to 30 days. It is being said that the purpose of this change is to ensure that employees get more flexibility. However, different people have different opinions regarding this on social media.

What has the bank said?

A screen shot of an email sent by HDFC Bank is becoming increasingly viral on social media. The HR department of the bank has written in the email – ‘Dear friends, we would like to inform you that the notice period of all confirmed employees resigning from the company has been reduced from 90 days to 30 days with immediate effect. The notice period of the employees who are on probation will remain the same as before, 30 days. All other conditions of employment will remain the same as before as per the agreement.

ICICI Bank also did this

HDFC is the second private bank to reduce the notice period. Earlier, ICICI Bank has also reduced the notice period of its employees in 2020. At the same time, there is still a notice period of 90 days in many public sector banks including State Bank of India, Punjab National Bank, Bank of Baroda, Kotak Mahindra Bank.

Different reactions on social media
Different things are being said on social media regarding reduction in notice period by HDFC Bank. Some people believe that this will benefit both the bank and the employees. Employees will not have to stay for long even after resigning, while the bank will see better productivity because most of the people work half-heartedly during the notice period. Some people are also seeing the reduction in notice period as making it easier for employees to leave the company. He is linking it to recession and is saying that preparations for the same are going on.

DA Hike: Good news for central employees! Calculation of dearness allowance will change from July, know full details

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HDFC Bank vs SBI: The country’s largest public sector bank State Bank of India (SBI) and the country’s largest private sector bank HDFC are running a special scheme for senior citizens. SBI Bank is offering SBI Wecare keeping senior citizens in mind. At the same time, HDFC Bank is offering Senior Citizen Care FD. Let us know where senior citizens will get more money by investing their money.

HDFC Bank Senior Citizen Care FD

HDFC Bank is offering Senior Citizen Care FD. This scheme is running since the year 2020. HDFC Bank is giving additional interest of 0.25 percent to senior citizens instead of 0.50 percent. The bank gives extra interest of 0.75 percent to senior citizens. This is a little more interest than your regular FD. It is giving 7.75 percent interest to senior citizens on FDs ranging from 5 years to 10 years. This interest is available on FD of less than Rs 5 crore. HDFC Bank is offering interest between 3.50% to 7.75% to senior citizens on normal FD. The last date for investment in Senior Citizen Care FD has been extended to May 11, 2024.

SBI WeCare

SBI WeCare Special FD scheme was launched as an option for senior citizens to keep their money safe during the Covid times. By making minimum investment in this FD scheme, you can get higher returns in 5 years and 10 years. Extra interest of 50bps i.e. 0.50 percent is available on SBI WeCare FD. At present this FD scheme of SBI is giving interest at the rate of 7.50 percent. You will have to invest in it by 30th September.

Also Read-

• Health Insurance Rules Changed: Good news! Now these people can also take health insurance, IRDAI changed the rules
• Bank Account Holders: Big news! Yes Bank and ICICI Bank are going to make this big change from May 1, know immediately
• Bank Loan Rules: Loan taking rules will change from October 1, RBI made new rules

The post HDFC Bank vs SBI Bank FD Rates: HDFC Bank and SBI give bumper interest on FD to senior citizens, check latest rates first appeared on Rightsofemployees.com.

Home loan is a long term loan. Home loans usually last for 15 to 20 years. Due to this, people have to pay huge amount as interest. If the interest rate is low, there is huge savings on home loan in the long run. We are telling you about those 5 banks which are giving home loan at the lowest interest.

If you look at the current home loan interest rates offered by the top 5 banks – Bank of Baroda, Punjab National Bank, SBI, HDFC Bank and ICICI Bank, you will find that their rates range from 8.4% to 10.90%. You can save big by taking home loan from these banks.

Bank of Baroda

Bank of Baroda (BoB) home loan interest rates start from 8.4% per annum to 10.90% for tenures up to 30 years.

Punjab National Bank

Punjab National Bank home loan interest rates start from 8.4% per annum and go up to 10.25% per annum (on floating basis) for tenures up to 30 years.

SBI Home Loan

State Bank of India (SBI) is currently offering home loan interest rates starting from 8.50% per annum to 9.85% for tenures up to 30 years.

HDFC bank

HDFC Bank home loans start at 8.7% per annum for tenures up to 30 years and loan amounts up to Rs 10 crore. One can avail a loan up to 90% of the property price.

ICICI Bank

ICICI Bank currently offers home loan interest rates starting at 8.75% per annum for tenures up to 30 years. The bank charges a processing fee of 0.5%.

Canara Bank and Central Bank

Canara Bank and Central Bank of India are charging interest at the rate of 8.5 percent on home loans. The EMI on a home loan of Rs 75 lakh for a tenure of 20 years will be Rs 64,650. The interest rate on home loan in Kotak Mahindra Bank starts from 8.7 percent. The EMI on a home loan of Rs 75 lakh for a tenure of 20 years will be Rs 65,550.

TCS Salary Hike : Announcement of increase in salary of TCS employees by 15%, check details here

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HDFC Bank latest news: Just before the meeting of the Monetary Policy Committee (MPC) of the Central Reserve Bank, HDFC Bank has given a big shock to the customers. Private sector giant HDFC Bank has increased its repo-linked home loan interest rates by 10-15 basis points. With this increase, the interest rate has come in the range of 8.70 percent to 9.8 percent.

What did the bank say on the merger

The bank clarified on its website that the change in home loan rate is due to the merger of HDFC Bank and HDFC on July 1, 2023 and it will no longer be linked to the Retail Prime Lending Rate (RPLR). The bank has clarified that the new repo linked interest rate is applicable to new customers. Old customers can continue with RPLR.

Let us tell you that the meeting of the six-member Monetary Policy Committee (MPC) of RBI will be held from April 3 to April 5, which will be the first meeting of the new financial year 2024-25.

What interest rate of which bank?

The current home loan interest rates of ICICI Bank range between 9 percent to 10.05 percent. State Bank of India home loan rates range from 9.15 percent to a maximum of 10.05 percent. At the same time, Axis Bank is offering comparatively lower interest rates on home loans to its customers ranging from 8.75 to 9.65 percent. The initial interest rate of Kotak Mahindra Bank home loan is 8.70 percent.

When and how many meetings of the Monetary Policy Committee

RBI announced the schedule of bi-monthly meetings of the Monetary Policy Committee (MPC) for the new financial year (2024-25). The first meeting will be held from April 3 to 5. The next meeting will begin on June 5 while the monetary review will be announced on June 7.

After this, the next meeting will be held from 6th to 8th August, then from 7th to 9th October, then from 4th to 6th December and the last meeting will be held in February. It will take place from 5th to 7th February.

LPG cylinder Price : ₹300 discount on LPG cylinder from April 1, crores of people benefited, check details

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HDFC Bank FD Rates Increased: There is good news for the customers of HDFC Bank because the bank has increased the interest rates of its fixed deposits. These new increased rates have also come into effect from today. Under this, customers making FD in HDFC Bank have got the gift of excellent interest rates up to 7.75 percent.

Bank increased interest on FD less than Rs 2 crore

HDFC Bank is offering increased interest rates to those customers who are making FD of less than Rs 2 crore. HDFC Bank has increased its FD rates by 0.25 percent or 25 basis points. These new rates have become effective from today 9 February 2024 and HDFC Bank has posted this information on its website.

Know on which tenure the depositors are getting maximum interest

A maximum interest of 7.25 percent is being given to general investors on fixed deposits ranging from 18 months to 21 months. For the same period, senior citizens are being given interest of 7.75 percent.

Maximum interest to senior citizens even on FDs ranging from 5 years, 1 day to 10 years
On FDs ranging from 5 years, 1 day to 10 years, general investors are getting a maximum interest of up to 7 percent and senior citizens are being given 7.75 percent interest for the same tenure.

See here- how much interest will you get on which tenure?

Depositors can get FD from 7 days to 10 years

According to the bank’s website, depositors deposit money in this bank at different interest rates for a period ranging from 7 days to 10 years. HDFC Bank is offering interest ranging from 3.5 percent to 7.75 percent on FDs of 7 days to 10 years. The bank has increased the interest rates on FDs of tenure between 18 months to less than 21 months by 25 basis points. It has been increased from 7 percent to 7.25 percent (for general investors).

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This has also become the default tax regime for the financial year 2024. Most all banks offer the option to invest in tax saving FD. You can open your five year FD wherever you have a savings account.

HDFC Bank Tax-Saving FD: How to open

According to HDFC Bank, if you already have a bank account, you can open an FD by visiting the nearest branch or using your netbanking account. If you already have an account in HDFC Bank then you can open FD through your internet banking.

Go to your netbanking account. Click on FD option. Enter your branch, time period and amount and create a nominee. After this press the Continue button and verify. After this download the FD deposit receipt.

If you have an HDFC Bank account and want to open an FD in your nearest bank branch, download the FD application form before visiting the bank. Fill all the required information in the form and take a photocopy of the KYC document.

You will have to take all the original documents to your branch for KYC verification. HDFC Bank is offering up to 7.75% interest on its tax-saving FD. Tax saving FD has a lock-in period of 5 years.

Investors can claim tax exemption under Section 80C of the Income Tax Act up to a limit of Rs 1.5 lakh for investing in tax saving FDs. However, the interest received on FD will be taxable. Senior citizens can claim an additional tax exemption of Rs 50,000 under section 80TTB of Income Tax on the interest received on FD.

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So this news is for you because here is the complete list in which complete information is written about the interest rates that private and public sector banks are giving you on fixed deposits based on time.

Fixed Deposit Interest Rates: The common man is very troubled due to inflation. In today’s time, every person tries his best to save for his bad times and family but remains worried as to where to invest his savings so that he can get good interest also. In such a situation, let us tell you about those private and public sector banks which are offering good interest rates.

ICICI Bank

This bank gives interest between 3 to 7.2 percent depending on the number of years of FD. If the tenure of your FD is 15 months to 2 years, this bank will give you maximum interest of Rs 7.20 only. When the tenure of FD is between 2 years to 5 years, the interest rate will be 7 percent and when the tenure of FD is between 1 year to 15 months, the interest rate will be up to 6.7 percent.

SBI

Depending on the tenure of FD, this bank gives you interest rate of 3.5 to 7 percent. If the FD is for 2 to 3 years then the maximum interest rate available is 7 percent. On the other hand, if you make an FD between 3 to 5 years, the interest rate will be 6.75 percent, for 5 to 10 years, the interest rate will be 6.5 percent and finally, if you make an FD within 1 to 2 years, you will get an interest rate of 6.8 percent every year. Is.

HDFC bank

This bank offers interest ranging from 3 to 7.25 percent every year. While the lowest interest rate is 3-4.25 percent, the highest interest rate is 7-7.25 percent. When the time for depositing money in FD is 2 years 11 months to 35 months, then the bank will give interest at 7.25 percent. When this time is 4 years 7 months to 55 months, then the interest rate on FD deposits will be 7.20 percent and when this time is 1 year to 15 months, then the interest rate on FD deposits will be 6.6 percent.

Kotak Mahindra Bank

By making FD from this bank, you get interest rates ranging from 4 to 7.25 percent depending on the time. In FDs with tenure between 365 days to 2 years, you get a maximum interest rate of 7.25 percent. You get interest rates up to 7% on FDs of 180 days, 7% on FDs of 2-3 years, 6.5% on FDs of 3 to 4 years and up to 6.25% on FDs of 4 to 7 years.

Bank of Baroda

Depending on how old the FD is, this bank gives interest rates between 4.25 percent to 7.25 percent. While on FD of 2 to 3 years, the interest rate will be up to 7.25 percent, on FD of 399 days, the annual interest will be up to 7.15 percent. The bank will give you an interest rate of 7.10 percent for 360 days and 6.85 percent interest rate for 1 to 2 years.

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The benchmark marginal cost lending rate (MCLR) has been increased by HDFC Bank. The bank has increased the MCLR for loans of certain tenures, which has come into effect from January 8. The very next day, the bank also increased the interest rates on fixed deposits (FD). The bank has increased the interest rates by up to 25 basis points for some selected periods. These interest rates have come into effect from 9th February.

MCLR rates increased

HDFC Bank has increased MCLR from 8.80 percent to 9.30 percent. The rate for overnight MCLR has been increased by 10 basis points to 8.80 percent, which was earlier 8.70 percent. Whereas MCLR has been increased by 5 basis points for 1 month. Due to this, the interest rate has been increased from 8.75 percent to 8.80 percent.

If we talk about 3 months MCLR, it has also been increased by 5 basis points. Earlier it was 8.95 percent, which has now increased to 9 percent. At the same time, the MCLR rate for 6 months has been increased to 9.20 percent. The 1 year MCLR rate has been increased by 5 basis points to 9.25 percent. Apart from these, there has been no change in the 3 percent MCLR rates and they remain stable at 9.30 percent. Let us tell you that MCLR rates are linked to consumer loans, due to which the loan rates fluctuate.

FD interest rates were also increased

HDFC Bank has also increased the interest rates on fixed deposits (FD). According to the website of HDFC Bank, the new FD rates have come into effect from February 9, 2024. The bank has increased the FD interest rate from 7% to 7.25% for tenure from 18 months to less than 21 months.

HDFC Bank is currently offering 3 percent interest rate on FD of 7-29 days. 3.50 percent interest is being given on FD between 30-45 days. Whereas 4.50% interest will be available on FD of 46 days to less than six months. The bank is giving 5.75% interest on FDs of six months to less than nine months. Along with this, the bank is giving 6 percent interest on deposits with maturity of 9 months to less than one year.

Currently, 6.60% interest is available on FDs between one year and less than 15 months. Whereas 7.10% interest rate is available on FD of 15-18 months. The bank has increased the FD interest rate of 18-21 months by 25 bps from 7% to 7.25%. HDFC Bank is now offering 7% interest on FDs of 21 months to two years and less than eleven months.

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The financial year 2023-24 is in its final stages. Only a few days are left for this financial year to end. As time is passing, there is a race to save tax at the last moment. Some are investing in insurance and some are investing in government schemes. While very few people know that Equity Linked Savings Scheme

– ELSS (Equity Linked Savings Scheme) is one of the best tax saving investment options to save tax, but it also has risks. Most of the people who invest or save tax do not want to take risk on their investments. They want their money to be safe, even if the returns are low. For them, security of their earnings comes first. In such a situation, if you want to invest money safely to save tax, then Tax Saver Bank FD can be a good option.

What is Tax Saving Bank FD and in which banks this facility is being provided. What interest are banks offering on tax saving FD? Here we are discussing it in detail.

What is tax saving bank FD

Tax Saver Bank Fixed Deposit-FD provides the benefit of tax exemption under Section 80-C of the Income Tax Act. Tax Saver Bank FD is for 5 years. Money cannot be withdrawn from bank FD during the lock-in period of five years. In this, returns are guaranteed along with security of money.

Tax saving FDs from banks are operated under the Deposit Insurance and Credit Guarantee Corporation (DICGC), a subsidiary of the Reserve Bank of India- RBI. In this, the amount of Rs 5 lakh of the bank and the investor is covered.

However, the biggest disadvantage of tax saving bank FD is that the interest earned on it is tax deductible. For bank FD investors, including those with five-year tax savings, the tax liability does not end with the TDS deduction.

The interest received from FD is included in the annual income of the investor and then tax is imposed as per the income tax slab. Also, unlike regular FDs, most banks generally do not allow you to take a loan against a tax saver FD, while you can also take a loan against a regular FD.

How much tax can be saved in tax saving bank FD?

In Tax Saving Bank FD, the investor gets tax exemption on other savings schemes like PPF, repayment of home loan principal, life insurance premium etc. Tax exemption of up to Rs 1.5 lakh can be claimed on a five-year tax saving FD.

FD schemes and interest rates in 10 big banks

Here we are discussing in detail about the FD schemes of the top 10 banks of the country and the interest being given on FD-

HDFC Bank

EdgeFC Bank is offering 7 percent annual interest on normal FD. Here, senior citizens are being given half a percent more interest on FD at the rate of 7.5 percent.

ICICI Bank

ICICI Bank is giving interest on FD at the rate of seven and a half percent like HDFC Bank.

State Bank Of India

SBI, the country’s largest government bank, is offering 6.5 percent interest on general FD and 7.5 percent interest on FD for senior citizens.

Kotak Mahindra Bank

Kotak Mahindra Bank offers fixed deposit schemes to ordinary individuals for tenures ranging from 7 days to 10 years. This bank is giving interest rates ranging from 6.2 to 6.7 percent.

Axis Bank

Axis Bank is giving the highest interest rate of 7 percent on general FD and 7.75 percent interest on Senator Citizen. Here FD can be made for 5 to 10 years.

IndusInd Bank

IndusInd Bank is also giving interest at the rate of 7.25 percent on regular i.e. normal FD. For senior citizens, interest is being given at the rate of 7.75 percent per annum.

Bank of Baroda

Bank of Baroda is running such a scheme. Bank of Baroda is giving interest at the rate of 6.5 and 7.15 percent per annum on FD.

Punjab National Bank

FD rates in Punjab National Bank are also lower than private banks. Here, 6.5 percent interest is being given on general FD, whereas 7 percent interest is being given on FD for senior citizens.

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FD Rates: If you are a senior citizen and looking for investment options then FD scheme can be a good option. We are telling you about top-5 such banks in which you can get strong returns by investing FD.

HDFC Bank is offering 7.10 percent interest to senior citizens on tenures ranging from one year to 15 months. At the same time, the bank is offering 7.60 percent interest rate on FD scheme of 15 to 18 months and 7.50 percent interest rate on FD scheme of 18 months to 2 years and 11 months.

ICICI Bank is offering 7.25 percent interest rate to senior citizens on FD scheme of one year to 15 months and 7.05 percent interest rate on FD scheme of 15 months to 2 years.

State Bank of India, the country’s largest bank, is offering FD scheme of one year to two years at 7.30 percent interest rate to its customers. Whereas for 2 to 3 years FD scheme, 7.5 percent interest is being offered by the bank. Under Amrit Kalash Scheme, the bank is offering 7.60 percent interest rate to senior citizens on 400 day FD scheme.

Bank of Baroda is offering 7.35 percent interest rate on FD scheme to senior citizens for 1 to 2 years. At the same time, the bank is offering 7.75 percent interest rate on FD scheme of 2 to 3 years.

Big private sector bank Kotak Mahindra Bank is offering 7.65 percent interest rate on 390 day FD scheme. Whereas the bank is offering 7.80 percent interest rate on 23 month FD scheme.

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However, personal loans generally come with higher interest rates. Higher interest is because this loan is available immediately and one does not have to bother with many documents.

It is especially easy for salaried employees to get personal loans. The required documents usually include salary slip of last three months, bank details and identity proof like driving license or Aadhaar card.

Before taking a loan from a particular bank or institution, you should explore other options for your needs. Generally, lenders offer loans at lower interest rates to borrowers with higher credit scores, while borrowers with lower scores have to take loans at higher rates.

Check, which bank is giving loan at what interest rate?

-HDFC Bank

10.75% to 24%

-ICICI Bank

10.65% to 16.00%

-SBI

11.15% to 11.90%

-Kotak Mahindra

10.99%

-axis Bank

10.65% to 22%

-IndusInd Bank

10.25% to 26%

-Bank of Baroda

11.40% to 18.75%

-Punjab National Bank

11.40% to 12.75%

-Union Bank of India

11.35% to 15.45%

-IDBI Bank

10.50% to 13.25%

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HDFC Bank Loan Costly: Today the Reserve Bank of India will announce its monetary policy, but before that, the country’s largest private bank HDFC Bank has made its loan rates expensive. HDFC Bank has increased the Marginal Cost of Lending Rates i.e. MCLR yesterday, after which the bank’s loans like home loan, car loan, personal loan have become expensive.

HDFC Bank increased MCLR – most loans will be expensive

HDFC Bank has shocked its customers because the interest rates on most of the consumer loans of this bank have become expensive. Actually, HDFC Bank has increased its Marginal Cost of Lending Rates i.e. MCLR by 10 basis points i.e. 0.10 percent and the EMI of all the loans related to it will increase from today. This news is being given according to the information given on the website of HDFC Bank.

Know by how much HDFC Bank has increased MCLR and where

The bank’s MCLR rate for loans with different tenures has ranged between 8.9 percent to 9.35 percent.

The bank’s one day MCLR i.e. overnight MCLR has increased by 0.10 percent to 8.9 percent.

One month MCLR has increased by 10 basis points to 8.95 percent.

Three-month MCLR has increased by 10 basis points to 9.10 percent.

Six-month MCLR has increased by 10 basis points to 9.30 percent.

Apart from this, one year MCLR related to consumer loan has also been increased by 5 basis points and it has been increased from 9.25 percent to 9.30 percent. The bank’s 2-year MCLR has now increased from 9.30 percent to 9.35 percent and apart from this, the 3-year MCLR has been maintained at 9.30 percent without any change.

(Source- HDFCbank.com)

Since when did loans become expensive?

These new MCLR rates of HDFC Bank have become effective from 7 February 2024 and will be fully applicable to new loan borrowers.

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Bank of Baroda

Bank of Baroda is offering interest at the rate of 7.75 percent on three-year FD. Among public sector banks, Bank of Baroda is giving the highest interest to senior citizens. The amount of Rs 1 lakh invested now will grow to Rs 1.26 lakh in three years.

Axis Bank

Axis Bank is offering interest at the rate of 7.60 percent on three-year FD to senior citizens. The amount of Rs 1 lakh invested now will grow to Rs 1.25 lakh in three years.

HDFC Bank

HDFC Bank, ICICI Bank and Punjab National Bank offer interest rates of 7.50 percent on three-year FDs. The amount of Rs 1 lakh invested now will grow to Rs 1.25 lakh in three years.

Canara Bank

Canara Bank gives 7.30 percent interest on three-year FD to senior citizens. The amount of Rs 1 lakh invested now will grow to Rs 1.24 lakh in three years.

State Bank of India (SBI)

State Bank of India (SBI) is giving 7.25 percent interest on three-year FD to senior citizens. The amount of Rs 1 lakh invested now will grow to Rs 1.24 lakh in three years.

Bank of India

Bank of India and Union Bank of India offer interest at the rate of 7 percent on three-year FD. The amount of Rs 1 lakh invested now will grow to Rs 1.23 lakh in three years.

Indian Bank

Indian Bank is giving interest at the rate of 6.75 percent on three-year FD to senior citizens. The amount of Rs 1 lakh invested now will grow to Rs 1.22 lakh in three years.

Reserve Bank of India

Deposit Insurance and Credit Guarantee Corporation (DICGC), a subsidiary of the Reserve Bank of India (RBI), provides investment guarantee on FDs up to Rs 5 lakh. In simple words, it means that your investment up to Rs 5 lakh in fixed deposit is completely safe.

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there are many banks which offer interest up to 7.75% for three years FD to senior citizens. Banks like BOB Axis are included in the list of these banks. Let us know about them.

If you are a senior citizen then you should think about investing in FD, because in this you get fixed and regular interest. There are many banks which provide interest up to 7.75% to senior citizens by giving them better savings option.

In these bank lists, public and private banks like Bank of Baroda, Axis Bank, HDFC Bank, SBI, Union Bank of India offer the highest interest rates on three-year FDs for senior citizens. Let us know about it in detail.

These are the interest rates

All these banks offer the highest interest rates to resident Indians above 60 years of age. This includes retail and 3-year FDs of less than Rs 1 crore.
This value is calculated on the basis of quarterly compounding of interest. Some government banks offer interest rates to super senior citizens (80 years and above). Here we are telling about those banks which give better interest rates.

axis Bank

Axis Bank offers 7.60 percent interest rate on three-year FD to senior citizens. That means the amount of Rs 1 lakh invested now will increase to Rs 1.25 lakh in three years.

Bank of Baroda

Talking about Bank of Baroda, it gives interest rate of 7.75 percent on three year FD.
It gives the highest interest rates to senior citizens. That means the amount of Rs 1 lakh invested now will increase to Rs 1.26 lakh in three years.

HDFC Bank

HDFC Bank, ICICI Bank and Punjab National Bank offer interest rates of 7.50 percent on three-year FDs.

With this, the amount of Rs 1 lakh invested now will increase to Rs 1.25 lakh in three years.

State Bank of India

State Bank of India (SBI) offers 7.25 percent interest rate on three-year FD to senior citizens.

That means the amount of Rs 1 lakh invested now will increase to Rs 1.24 lakh in three years.

Bank of India

Bank of India and Union Bank of India offer an interest rate of 7 percent on three-year FDs.
The amount of Rs 1 lakh invested now will grow to Rs 1.23 lakh in three years.

Canara Bank

Canara Bank gives 7.30 percent interest on three-year FD to senior citizens.
The amount of Rs 1 lakh invested now with this bank will grow to Rs 1.24 lakh in three years.

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Due to this change, now the customer will have to update and verify HDFC Bank Mobile App before using it.

HDFC Bank is telling its customers in the mail that a new version of the mobile app will be available soon. In such a situation, before using this new version, the customer will have to update and verify this app. The app can be used on the mobile which has a SIM card which is registered with the bank.

Old version will not work

The new version will no longer work in the bank’s mobile app. This means that if you are also a customer of HDFC Bank, then you cannot do any transaction through the old version of the mobile app.

The bank has said that in view of the increase in cyber crime cases, this version has been brought to stop it. More cyber security will be provided in this, so that the customer’s banking data will remain safe.

How to update mobile app

• To update the mobile app, the customer should keep the SIM card of the mobile number registered with the bank inside the device. For example, if you have registered the number 9212367 in the bank, then you can update this app from the same phone in which this SIM card is.
• Now you have to use debit card or net banking for update. You should keep in mind that the net banking password should not expire.
• To verify the mobile app, you will have to provide debit card or net banking details once.

How to use mobile app for new customers

• If you are a new customer and are using the mobile app for the first time, then you must have an active mobile membership. The new customer has to update the device’s MAC ID, SIM card ID and other identities in the database.
• After this a photo code message will be shared on the bank server.
• After verifying that code the app will be updated.

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HDFC Bank has changed the rules of Regalia and Millennia Credit Cards. The rules for lounge access for Regalia cards have been changed from December 1, 2023. According to the new rules, the lounge access program will be based on credit card spending. You will get two lounge access vouchers if you spend more than Rs 1 lakh in a calendar quarter. Similarly, on spending Rs 1 lakh every quarter with HDFC Millennia Card, you will get a lounge access.

As per SBI Card, cashback for fare payment transactions on your Paytm SBI Credit Card has been discontinued from January 1, 2024. From November 1, 2023, the 10X reward points for EasyDiner online purchases on SimplyClick/SimplyClick Advantage SBI Card will now be 5X reward points. 10X reward points will be added to your card for online purchases made on Apollo 24×7, Bookmyshow, Cleartrip, Dominos, Myntra, Netmades and Yatra.

Axis Bank has also made some important changes for credit card holders. Axis Bank has made changes in the annual fee and joining gift of Magnus Credit Card. The bank has also made changes in the terms and conditions of Axis Bank Reserve Credit Card.

ICICI Bank is soon going to implement changes in the rules related to airport lounge access and reward points of cards for credit card holders. According to the ICICI Bank website, from April 1, 2024, you can avail airport lounge access by spending Rs 35,000 in the previous calendar quarter. Spending in the previous calendar quarter will unlock access for the next calendar quarter.

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New rules in HDFC Bank Credit Card

HDFC Bank has made some changes in the rules of Regalia and Millennia Credit Cards. Now lounge access facility will be available only after spending at least Rs 1 lakh on HDFC Bank Regalia Credit Card. You will get only 2 lounge access in a quarter.

At the same time, the benefit of credit card facility will be available only after spending Rs 1 lakh quarterly through HDFC Bank Millenia Credit Card. Through this card, you can avail the lounge only once in a quarter.

New rules in SBI credit card

SBI Card has changed the rules of Paytm SBI Credit Card. Cashback will not be available on payment of fare through this credit card from January 1. Earlier on November 1, SBI Card has reduced the reward points on online shopping from EasyDiner from 10X to 5X.

Axis Bank also made changes in credit card rules

Axis Bank has made some important changes for its credit cardholders. The bank has changed the Axis Bank Magnus Credit Card benefits and annual charges and joining fees. The bank has also revised the terms and conditions of the Axis Bank Reserve Credit Card.

ICICI Bank reduces lounge access benefit

ICICI Bank has changed the rules of airport long access and reward points on its 21 major credit cards. Along with this, the rules of reward have also been changed. It has been told by the bank that from April 1, 2024, lounge access facility will be available only after spending Rs 35000 in a calendar quarter.

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HDFC Bank has once again extended the deadline for ‘Senior Citizen Care FD’, a special FD that gives higher interest to senior citizens. Let us tell you, this FD is especially for senior citizens only. In this, additional interest of 0.25 percent is given.

You can invest till this period

According to the information given by the bank, the deadline for Senior Citizen Care FD has been extended to January 10, 2024. This means that now investors can avail the benefits of FD till the first week of January.

Interest rate in Senior Citizen Care FD

In Senior Citizen Care FD, senior citizens are being given a separate interest rate of 0.25 percent in addition to the additional interest rate of 0.50 percent compared to the normal interest rates. In this way, the investor who makes this FD will be given additional interest of 0.75 percent by the bank.

Let us tell you, under Senior Citizen Care FD, the bank is giving 7.75 percent interest to the investors. This maturity period is more than 5 years.

FD interest rates in HDFC Bank

• 7 days to 29 days -3.00 percent
• 30 days to 45 days – 3.50 percent
• 46 days to 6 months – 4.50 percent
• 6 months one day to 9 months – 5.75 percent
• 9 months to less than one year – 6.00 per cent
• One year to less than 15 months – 6.60 percent
• 15 months to less than 18 months – 7.10 percent
• 18 months to 2 years Less than 11 months -7.00 percent
• 2 years 11 months to 35 months – 7.15 percent
• 2 years 11 months a day – 3 years – 7.00 percent
• 3 years one day to -5 years -7.00 percent
• 5 years one day to 10 years -7.00%

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HDFC Bank: India’s largest private sector bank HDFC has given a special gift to its customers. The bank is offering special Fixed Deposit to senior citizens. HDFC Bank has extended the investment time in Senior Citizen Care FD. Investors can invest in HDFC Senior Citizen Care FD till January 10, 2024.

Interest on HDFC Bank Senior Citizen Care FD

HDFC Bank is giving additional interest of 0.25 percent to senior citizens instead of 0.50 percent. The bank gives extra interest of 0.75 percent to senior citizens. It is giving 7.75 percent interest to senior citizens on FDs ranging from 5 years to 10 years. This interest is available on FD of less than Rs 5 crore. The last date for investment in Senior Citizen Care FD is 10 January 204. HDFC Bank is offering interest between 3.50% to 7.75% to senior citizens on normal FD.

Interest rates on normal FD less than Rs 2 crore in HDFC Bank

• 7 days to 14 days: For general public – 3.00 percent; For senior citizens – 3.50 percent
• 15 days to 29 days: For general public – 3.00 percent; For senior citizens – 3.50 percent
• 30 days to 45 days: For general public – 3.50 percent; For senior citizens – 4.00 percent
• 46 days to 60 days: For general public – 4.50 percent; For senior citizens – 5.00 percent
• 61 days to 89 days: For general public – 4.50 percent; For senior citizens – 5.00 percent
• 90 days to 6 months: For general public – 4.50 percent; For senior citizens – 5.00 percent
• 6 months 1 day to less than 9 months: For general public – 5.75 percent; For senior citizens – 6.25 percent
• 9 months 1 day to less than 1 year: For general public – 6.00 percent; For senior citizens – 6.50 percent
• 1 year to less than 15 months: For general public – 6.60 percent; For senior citizens – 7.10 percent
• 15 months to less than 18 months: For general public – 7.10 percent; For senior citizens – 7.50 percent
• 18 months 1 day to less than 21 months: For general public – 7.00 percent; For senior citizens – 7.50 percent
• 21 months to 2 years: For general public – 7.00 percent; For senior citizens – 7.50 percent
• 2 years 1 day to less than 2 years 11 months: For general public – 7.00 per cent; For senior citizens – 7.50 percent
• 2 years 11 months to 35 months: For general public – 7.00 percent; For senior citizens – 7.50 percent
• 2 years 11 months 1 day to 4 years 7 months: For general public – 7.00 percent; For senior citizens – 7.50 percent
• 4 years 7 months 1 day Less than or equal to 5 years: For general public – 7.00 percent; For senior citizens – 7.50 percent
• 5 years 1 day to 10 years: For General Public – 7.00 per cent; For senior citizens – 7.75 percent.

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HDFC has increased MCLR by 0.05 percent on certain tenure loans. By increasing the MCLR of the bank, the EMI of all types of floating loans including home loan, personal loan and auto loan increases. These new rates have come into effect from today, December 7, 2023.

HDFC Bank New MCLR Rates

HDFC Bank’s overnight MCLR has been increased by 5 bps from 8.65 percent to 8.70 percent.

One month MCLR has been increased by 5 bps from 8.70 percent to 8.75 percent.

The three-month MCLR has also been increased by 5 basis points to 8.95 percent from the previous 8.90 percent.

Six month MCLR is only 9.15 percent. There has been no change in this.

MCLR for period more than one year is 9.20 percent. There has been no change in this either.

MCLR has been increased from 9.20 percent to 9.25 percent for periods more than 2 years.

MCLR remains at 9.25 percent for a period of more than 3 years. There has been no change in this.

New rates have come into effect from today 7th December 2023

Various factors are taken into consideration while deciding MCLR including deposit rate, repo rate, operational cost and cost of maintaining cash reserves ratio. Changes in repo rate affect the MCLR rate. However, the bank has made changes in MCLR even before any decision on the repo rate is taken. MCLR also affects loan interest rates, due to which the EMI of borrowers increases. These new rates have come into effect from today, December 7, 2023.

EMI of auto loan, home loan and personal loan will increase

The effect of increase in MCLR will be seen on the interest rates of all types of loans related to it including home loan, auto loan, personal loan. Loan customers will have to pay more EMI than before. Customers taking new loan will get expensive loan i.e. loan at higher interest.

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Private sector ICICI Bank customers will now be able to do UPI transactions with their RuPay credit cards. This service has been started by the bank from December 1, 2023. Now customers can make UPI payments by linking their ICICI RuPay Credit Card to any UPI app including PhonePe, GooglePay and Paytm.

To whom do you pay? 

According to the information given by ICICI Bank, any person can transfer money from his RuPay credit card only from person to merchant. That means you can use it only for shopping. If you cannot transfer money to any person through this. 

How to make UPI payment through ICICI Rupay Credit Card?

To make payment through ICICI RuPay Credit Card, first of all you have to link your credit card through UPI app. After this, you can easily go to any merchant QR code and transact through UPI PIN. 

How to link ICICI Rupay Credit Card with UPI?

You can easily link ICICI Bank RuPay Credit Card to the UPI app. 

• For this, first of all you have to download the iMobilePay app of ICICI Bank. After this, open the app and go to ‘UPI Payment’. After this go to ‘Manage’ tab. 
• Now go to ‘My Profile’ and click on Create New UPI ID. 
• Select RuPay Credit Card here. Click on its procedure. After this, you can set the PIN and do UPI transaction. 

Transactions can be done with Rupay credit cards of these banks

Apart from ICICI Bank, you can also easily do UPI transactions using RuPay credit cards of Axis Bank, Kotak Mahindra Bank, SBI Card, HDFC Bank, ICICI Bank, Yes Bank, Bank of Baroda and Punjab National Bank. 

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According to the information given on the website of ICICI Bank, the interest on FD of Rs 2 crore to Rs 5 crore for a period of 7 to 14 days is 4.75 percent. The interest on FD of 30 days to 45 days is 5.5 percent and the interest on FD of 46 days to 60 days is 5.75 percent. Apart from this, interest on FD of 61 days to 90 days has been fixed at 6 percent, interest on FD of 91 days to 120 days has been fixed at 6.5 percent.

6.5 percent interest is being given on FDs of 121 days to 150 days, 6.75 percent interest is being given on FDs of 271 days to 289 days. The bank is offering 7.25 percent interest on FDs of one year to 389 days.

HDFC Bank also changed FD interest rate

HDFC Bank has also changed the interest rates on FDs of Rs 5 crore or more. The bank is now offering interest ranging from 4.75 percent to 7.00 percent on FDs of more than Rs 5 crore.

Let us tell you, recently the Federal Bank has changed the interest rates of some selected tenure FDs of less than Rs 2 crore. Now the bank is offering 7.50 percent interest rate to common citizens on FD of 500 days and 7.05 percent interest rate on FD of 21 months to less than 3 years. At the same time, banks are giving additional interest of 0.50 percent to senior citizens on FDs of both the tenures.

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MCLR new rates

After this increase, MCLR in HDFC Bank ranges between 8.65 percent to 9.30 percent. Overnight MCLR has increased by 0.05 percent to 8.65 percent, which was earlier 8.60 percent. One month MCLR has increased by 0.05 percent to 8.70 percent which was earlier 8.65 percent. Three-month MCLR has increased to 8.90 percent which was earlier 8.85 percent.

Six-month MCLR has increased to 9.15 percent which was earlier 9.10 percent. At the same time, one year MCLR has been kept unchanged at 9.20 percent. Most of the loans are linked to one year MCLR only. Apart from this, MCLR for two and three years has been increased from 9.25 percent to 9.30 percent.

What is MCLR?

The full form of MCLR is Marginal Cost of Funds Based Lending Rents. This is the rate on the basis of which banks decide at what interest rate all types of loans including home loan, personal loan and car loan will be given. In simple language, banks do not issue loans below the MCLR rate.

EMI will increase

Since MCLR is directly linked to your loan, its increase has a direct impact on your EMI. In such a situation, whenever MCLR increases, your EMI will also increase.

The post HDFC Bank gave a shock to customers, increased MCLR, EMI will increase first appeared on Rightsofemployees.com.

This information is given on the bank’s website. Let us tell you, Senior Citizen Care FD was started by the bank in May 2020 to give more interest especially to senior citizens during Corona.

How much interest is available on Senior Citizen Care FD?

According to the information given on the bank’s website, senior investors in Senior Citizen Care FD are given an interest of 0.25 percent in addition to the 0.50 percent usually given by the bank. However, this interest is being given on FDs ranging from 5 years to 10 years.

Interest rate on senior citizen FD

At present, the bank is offering 7.75 percent interest on senior citizen FD. Investment in this FD can be made only by Indian citizens. NRI investors cannot invest in this FD.

You can withdraw money before maturity

In this FD, the facility of withdrawing money before maturity is given by the bank to the investors, but the condition is that you can withdraw the money only after the completion of the FD period of five years. With this you will also get 1.25 percent less interest.

Interest on FD for senior citizens in HDFC Bank

• 7 to 29 days – 3.50 percent
• 30 to 45 days -4.00 percent
• 46 to 6 months -5.00 percent
• 6 months one day to 9 months – 6.25 percent
• 9 months to less than one year – 6.50 percent
• One year to less than 15 months – 7.10 percent
• From 15 months to less than 18 months – 7.60 percent
• From 18 months to two years Less than 11 months – 7.50 percent
• More than 2 years 11 months to 35 months – 7.65 percent
• From 2 years 11 months to less than 4 years 7 months – 7.50 percent
• 4 years 7 months to 55 months – 7.70 percent
• 5 years a day -up to 10 years – 7.75 percent

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After this change the interest rates will be reduced. The bank has informed its customers about this change through email. Currently, the bank is giving 7.20% and 7.25% interest to its general customers under this FD of 35 months and 55 months.

Information given through email

HDFC Bank is offering its general customers 3.50% on FD of 7 days to 45 days, 4.50% on FD of 46 days to 6 months, 5.75% on FD of 6 months to 9 months, 9 months to 1 day to less than 1 year. It is giving 6% interest on FD and 6.60% interest on FD of 1 year to less than 15 months.

7.25% interest is available here

On the other hand, the bank is offering 7.10% on FD of 15 months to 18 months, 7% on FD of 18 months to 2 years 11 months, 7.20% on FD of 2 years 11 months to 35 months and 35 months to 1 day to 4 years 7 months. Is giving 7% interest on FD. At the same time, the bank is offering 7.25% interest on FD of 4 years, 7 months to 55 days and 7% interest on FD of 4 years, 7 months, 1 day to 10 years.

Disclaimer: Only information about share performance is given here, it is not investment advice. Investing in stock market is subject to risk and please consult your advisor before investing.

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For this you only need internet. But do you know that even if your phone does not have an internet connection or you have a feature phone, you can easily transfer money to someone through UPI.

Recently, private sector HDFC Bank has launched 3 digital products connected to UPI. These are UPI 123Pay: Payment through IVR, UPI plug-in service for merchant transactions and Autopay on QR code.

UPI 123Pay: Payment via IVR

With UPI 123Pay, anyone can easily make UPI payments by just making a phone call, even if they do not have internet or smartphone. Customers can easily book and pay for services through Interactive Voice Response i.e. IVR.

UPI Plug-In Service for Merchant Transactions

UPI Plug-In Service makes it easy to make payments through UPI. You will not need to switch between different apps while shopping.

AutoPay on QR codes

AutoPay on QR lets you easily set up automatic payments using UPI QR codes. This is useful to make automatic payments for streaming services, subscriptions etc. without having to make manual payments every time.

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If you want to get big returns (FD Interest Rates) through FD, then many banks have come up with special offers for you. This can be a good opportunity for you. These are the schemes launched for limited time only. That’s why you can take advantage of them as soon as possible. Other banks like IDBI Bank, SBI Bank and Indian Bank have come up with special FD schemes. Let us know about this limited time, but special FD giving better returns.

FD rate of HDFC Bank

HDFC Bank has launched a special FD plan for its customers. Which has been issued for a period of 35 and 55 months for ordinary citizens. In this, the interest rate has been fixed at 7.20 percent for a period of 35 months and 7.25 percent for a period of 55 months. Talking about senior citizens, the interest rate has been fixed at 7.60 percent for a period of 35 months and 7.75 percent for a period of 55 months.

FD rate of Bank of India

Bank has launched Monsoon Deposit Scheme for its customers for 400 days. For general customers, the bank has kept the maturity period for FDs made for this period between 7 days to 10 years. On which the interest rate is kept between 3 percent to 7.25 percent. In this, the highest interest rate has been kept at 7.25%.

Apart from these, State Bank of India had launched a special FD plan named Amrit Kalash. Which is ending on 15 August 2023. Amrit Mahotsav FD which is being run by IDBI Bank is going to expire on August 15, 2023. It is run for a period of 444 days and 375 days.

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SBI RD Interest Rate

SBI offers interest rates ranging from 6.80% to 7% on recurring deposits for tenures ranging from one year to ten years. The minimum monthly deposit in SBI starts from Rs 100 and in multiples thereof. On the other hand, if you delay in paying the installment of your RD, then you will have to pay a fine on it. On the other hand, if you miss six consecutive installments, then your account will be closed prematurely.

HDFC bank rd interest rate

HDFC Bank offers interest ranging from 4.50 percent for a period of 6 months. And the interest rate offered for 9 months, 12 months and 15 months is 5.75%, 6.60% and 7.10% respectively. For tenures of 24 months, 27 months, 36 months, 39 months, 48 ​​months, 60 months, 90 months and 120 months, HDFC Bank offers 7% interest rate.

ICICI Bank RD Interest Rate

ICICI Bank offers interest rates between 4.75% to 7.10% for general citizens and 5.25% to 7.50% for senior citizens. According to the website of ICICI Bank, RD deposits will be available from 6 months to 10 years.

yes bank rd interest rate

Yes Bank offers interest ranging from 6.10% to 7.75% for tenures ranging from 6 months to 5 years. RD can also be scheduled for tenancy up to 3 months. Bank will charge 1% penalty on late payment.

PNB RD Interest Rate

Punjab National Bank offers interest ranging from 4.50% to 7.25% with tenure ranging from 6 months to 120 months. If you delay depositing your RD installments then you will have to pay a penalty of Re 1 on Rs 100.

The post SBI vs HDFC Bank Vs ICICI Bank: Know in which bank you will get the most benefit on getting RD first appeared on Rightsofemployees.com.

As per the bank rules, the interest being given on the savings account is credited to your account at monthly or quarterly intervals. How much interest will be given on savings account depends on the bank. Let us tell you that FD gives the highest interest rate for senior citizens, they do not get the benefit of interest rate of savings account. Here let’s see how much interest SBI, ICICI Bank, HDFC Bank, PNB, Canara Bank are paying on savings account.

SBI Saving Account Interest rates

Interest rate is 2.70 per cent for savings accounts with balance up to Rs 10 crore and 3 per cent for balance above Rs 10 crore.

HDFC Saving Account

The interest rate on savings accounts in HDFC Bank is 3 per cent for balances below Rs 50 lakh and 3.50 per cent for balances above Rs 50 lakh.

ICICI Bank Interest for Saving Account

At the end of the day the interest rate on the balance of less than Rs 50 lakh will be 3 percent. At the end of the day, the balance of more than Rs 50 lakh will have an interest rate of 3.5 percent.

Punjab National Bank

Punjab National Bank gives 2.70 per cent interest rate on the balance of less than Rs 10 lakh. Pays an interest rate of 2.75 per cent on account balances of less than Rs 10 lakh to Rs 100 crore. PNB gives 3% interest on account balance of Rs 100 crore and above.

Canara Bank Saving Account

Canara Bank offers an interest rate between 2.90 per cent to 4 per cent for the amount on the savings account. A maximum amount of 4% is paid on the balance amount of Rs.2000 crores.

How much tax will be charged on the interest amount received from the savings account

Under Section 80TTA of the Income Tax Act, the interest earned on the savings bank account is tax free up to Rs 10,000. If the interest received from these sources exceeds Rs 10,000, then the excess interest on the savings account will be taxable. For senior citizens, the amount received from savings accounts is limited to Rs 50,000, the amount above which will be taxable.

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No need to redeem the cashback

There is no need to redeem the cashback with the Swiggy HDFC Bank Credit Card. This card has auto-credit cashback facility. You get cashback in Swiggy Money within 10 days of bill generation. It is to be noted that Swiggy Money money can only be used for transactions within the Swiggy platform.

Special features of the card-

• Cardholders will get 3 months free membership of Swiggy One as a welcome benefit.
• If users order something through Swiggy, such as food delivery, quick grocery delivery, dineout and other services and pay through this card, then 10 percent cashback will be available. This category will get the benefit of up to Rs 1500 cashback every month.
• Through this card, 5 percent cashback will be available on purchases made on Amazon, Flipkart, Nykaa, Ola, Uber and 1000+ e-commerce platforms. This category will get the benefit of up to Rs 1500 cashback every month.
• Apart from this, customers can avail 1% cashback on all other expenses. This category will get the benefit of up to Rs 500 cashback every month.
• No cashback will be available on rent payment, wallet load, EMI transactions etc.
• This card is equipped with contactless technology, which also gives customers the facility of ‘Tap and Pay’ i.e. payment can be made by just tapping on the POS machine without swiping the card.

Swiggy HDFC Bank Credit Card Charges

>> The joining fee for this card is Rs.500.
>> The renewal membership fee of this card is Rs.500. However, the renewal fee is waived off after spending Rs 2 lakh in a year.

Eligibility for Swiggy HDFC Bank Credit Card

• Salaried or self employed person can take this card.
• People in the age group of 21 years to 60 years and employed people getting gross salary of at least Rs 25 thousand per month can apply.
• People between the age of 21 years to 65 years and self-employed with an annual income of more than Rs 6 lakh can apply for this card.

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These banks have also extended the deadline for investing in special FDs. Here’s a comparison of the special FD rates of SBI, HDFC Bank and ICICI Bank. Know here which bank is offering more interest to customers on Senior Citizen Special FD.

Interest rates on SBI WeCare FD (SBI WeCare FD interest rate)

The bank gives 0.50 more interest to senior citizens than the general customer on any FD. SBI WeCare is getting 7.50% interest. Investments under the scheme are made for a minimum of 5 years and a maximum of 10 years. These rates will be available on new and renewable FDs. The last date to invest in this scheme is 30 September 2023. Apart from this, SBI has Amrit Kalash scheme, which is being run keeping in mind the senior citizens. SBI offers interest ranging from 3.50 per cent to 7.60 per cent on its FDs.

FD for senior citizens of HDFC Bank (HDFC Bank senior Citizen Care FD interest rate)

HDFC Bank gives extra interest of 0.25% to super senior citizens on special FDs apart from 0.50% to senior citizens. Super senior citizens get an additional interest of 0.75 per cent. Super senior citizens get 7.75% interest on FDs of 5 years to 10 years. The last date to invest in Senior Citizen Care FD is 7 November 2023. HDFC Bank is offering interest ranging between 3.50% to 7.75% to senior citizens.

ICICI Bank Golden Years FD

ICICI Bank offers an interest of 0.10% to senior citizens in addition to an additional interest of 0.50% on the Golden Years FD scheme. There is no deadline for investment in this scheme. This scheme is running from 20 May 2020. Investments can be made in this for a minimum period of 5 years from 1 day to 10 years. The interest rate on this is 7.50%.

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According to the bank’s website, the last date for investing in Senior Citizen Care FD has been extended till November 7, 2023. HDFC Bank gives additional interest to customers falling in the senior citizen category. At the same time, the last date to invest in this scheme was July 7.

Get extra interest

HDFC’s Senior Citizen Care gives 0.25% additional interest on investing in FD. At the same time, the premium in this is 0.50 percent, which will be available on FDs of five years one day to 10 years. This interest rate is available on investments of less than five crore rupees. Senior Citizen Care FD holders will get interest at the rate of 7.75 per cent for a period of five years to 10 years. At the same time, the interest rate on deposits ranging from seven years to 10 years ranges from 3.35 percent to 7.75 percent.

Trying to make FD attractive

Apart from this, HDFC Bank has extended its special fixed deposit for senior citizens for investment till 30 September 2023. In the last financial year, the Reserve Bank had increased the repo rate continuously. After this, banks also increased the interest rates to make their FD schemes attractive. Along with this, many new FD schemes were also started. In the current financial year, the Reserve Bank has not yet increased the repo rate in any way. Repo rate is the rate at which the Reserve Bank lends to other banks.

FD scheme was launched

HDFC Bank calculates interest based on the actual number of days in a year. If the deposit is in a leap and a non-leap year, interest is calculated based on the number of days. That is, there are 366 days in a leap year and 365 days in a non-leap year. HDFC Bank had launched two special fixed deposit schemes in May for a limited period. The bank had launched two FD plans for a period of 35 months and 55 months.

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However, HDFC Bank has already issued guidelines regarding this. HFC Bank has said in the statement that this merger is not going to have any major adverse impact on the customers and investors.

Will the loan be transferred to HDFC Bank after the merger?

The merger of HDFC Ltd and HDFC Bank (HDFC Ltd and HDFC Bank Merger) is effective on 1 July 2023. After the merger, the loan account of the customers will be transferred to HDFC Bank. However, the login credentials of the customers will not change. Apart from this, the benefits of the bank’s services will continue to be available as before.

Will the EMI for the loan change due to the merger and what will change?

According to HDFC Bank, there will be no impact on your EMI after the merger. The interest rate will remain unchanged. According to HDFC Bank, the interest rate applicable on your account will now be linked to EBLR (External Benchmark Lending Rate) instead of Retail Prime Lending Rate (RPLR). There will be no change in the rate of interest on the date of merger and any future changes will be based on EBLR.

Will the merger affect FD investment and interest rates?

According to HDFC Bank, there is not going to be any difference in FD investment after the merger. The tenure, interest rate etc. of Fixed Deposit will remain valid till maturity as before. At the same time, no change has been made in the terms and conditions. At the same time, HDFC has extended the deadline for 3 months till November 7, 2023, giving more opportunity to senior citizens to invest in the special FD scheme.

The post HDFC Merger Changes: What will change with HDFC merger? Will the loan be transferred or will the FD interest rate be affected? first appeared on Rightsofemployees.com.

7 days to 14 days: For general public – 3.00 per cent; For senior citizens – 3.50 per cent
15 days to 29 days: For general public – 3.00 per cent; For senior citizens – 3.50 per cent
30 days to 45 days: For general public – 3.50 per cent; For senior citizens – 4.00 per cent
46 days to 60 days: For general public – 4.50 per cent; For senior citizens – 5.00 per cent
61 days to 89 days: For general public – 4.50 per cent; For Senior Citizens – 5.00 per cent
equivalent to 90 days to 6 months: For General Public – 4.50 per cent; For senior citizens – 5.00 per cent
6 months 1 day to less than 9 months: For general public – 5.75 per cent; For senior citizens – 6.25 percent
9 months 1 day to less than 1 year: For general public – 6.00 per cent; For senior citizens – 6.50 per cent
1 year to less than 15 months: For general public – 6.60 per cent; For senior citizens – 7.10 per cent
15 months to less than 18 months: For general public – 7.10 per cent; For senior citizens – 7.60 per cent
18 months 1 day to less than 21 months: For general public – 7.00 per cent; For senior citizens – 7.50 percent
21 months to 2 years: For general public – 7.00 percent; For Senior Citizens – 7.50 per cent
2 years 1 day to 2 years 11 months: For General Public – 7.00 per cent; For senior citizens – 7.50 per cent
2 years 11 months 1 day to 3 years: For general public – 7.00 per cent; For senior citizens – 7.50 percent
3 years 1 day to 4 years 7 months: For general public – 7.00 per cent; For senior citizens – 7.50 per cent
4 years 7 months to 55 months: For general public – 7.25 per cent; For Senior Citizens – 7.75 per cent
5 years 1 day to 10 years: For General Public – 7.00 per cent; For senior citizens – 7.50 percent

Axis Bank FD Rates

7 days to 14 days: 3.50 per cent for general public; 3.50 per cent for senior citizens
15 days to 29 days: 3.50 per cent for general public; 3.50 per cent for senior citizens
30 days to 45 days: 3.50 per cent for general public; 3.50 per cent for senior citizens
46 days to 60 days: 4.00 per cent for general public; 4.00 per cent for senior citizens
61 days to less than 3 months: 4.50 per cent for general public; 4.50 per cent for senior citizens
3 months to less than 4 months: 4.75 per cent for general public; 4.75 per cent for senior citizens
4 months to less than 5 months: 4.75 per cent for general public; 4.75 per cent for senior citizens
5 months to less than 6 months: 4.75 per cent for general public; 4.75 percent for senior citizens
6 months to less than 7 months: 5.75 per cent for general public; 6.00 per cent for senior citizens
7 months to less than 8 months: 5.75 per cent for general public; 6.00 per cent for senior citizens
8 months to less than 9 months: 5.75 per cent for general public; 6.00 percent for senior citizens
9 months to less than 10 months: 6.00 percent for general public; 6.25 per cent for senior citizens
10 months to less than 11 months: 6.00 per cent for general public; 6.25 per cent for senior citizens
11 months to less than 11 months 25 days: 6.00 per cent for general public; 6.25 per cent for senior citizens
11 months 25 days to less than 1 year: 6.00 per cent for general public; 6.25 percent for senior citizens
1 year to less than 1 year 4 days: 6.75 per cent for general public; 7.50 per cent for senior citizens
1 year 5 days to less than 1 year 11 days: 6.80 per cent for general public; 7.55 per cent for senior citizens
1 year 11 days to less than 1 year 24 days: 6.80 per cent for general public; 7.55 per cent for senior citizens
1 year 25 days to less than 13 months: 6.80 per cent for general public; 7.55 per cent for senior citizens
13 months to less than 14 months: 7.10 per cent for general public; 7.85 per cent for senior citizens
14 months to less than 15 months: 7.10 per cent for general public; 7.85 per cent for senior citizens
15 months to less than 16 months: 7.10 per cent for general public; 7.85 percent for senior citizens
16 months to less than 17 months: 7.10 per cent for general public; 7.85 per cent for senior citizens
17 months to less than 18 months: 7.10 per cent for general public; 7.85 percent for senior citizens
18 months to less than 2 years: 7.10 percent for general public; 7.85 per cent for senior citizens
less than 2 years to 30 months: 7.05 per cent for general public; 7.80 per cent for senior citizens
30 months to less than 3 years: 7.00 per cent for general public; 7.75 percent for senior citizens
3 years to less than 5 years: 7.00 percent for general public; 7.75 per cent for senior citizens
5 years to 10 years: 7.00 per cent for general public; 7.75 percent for senior citizens

SBI FD Rates

7 days to 45 days: For general public – 3.00 per cent; For senior citizens – 3.50 per cent
46 days to 179 days: For general public – 4.50 per cent; For senior citizens – 5.00 per cent
180 days to 210 days: For general public – 5.25 per cent; For senior citizens – 5.75 per cent
211 days to less than 1 year: For general public – 5.75 per cent; For senior citizens – 6.25 per cent
1 year to less than 2 years: For general public – 6.80 per cent; For Senior Citizens – 7.30 per cent
2 years to less than 3 years: For General Public – 7.00 per cent; For senior citizens – 7.50 per cent
3 years to less than 5 years: For general public – 6.50 per cent; For senior citizens – 7.00 percent
5 years to 10 years: For general public – 6.50 per cent; For senior citizens – 7.50 percent

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Many times you have to make many rounds to get a loan from the bank. Has this ever happened to you? If yes then this news is of your use. After the order given by the Finance Minister last days, you will get relief from going around the banks. Ever since Finance Minister Nirmala Sitharaman made this announcement, the banking system has already been made flexible for the customers. Union Finance Minister Nirmala Sitharaman has ordered to make the banking system customer friendly.

Said to make the banking system simple

The Finance Minister talked about making the banking system simple according to the needs of the bank customers. After such changes, more and more customers will be able to connect with banks. The Union Finance Minister had said during a meeting that banks should pay attention to the facilities of the customers. This will make the process of taking a loan easier. The Finance Minister also told the banks that the standards of lending should be correct.

During this, Sitharaman asked all the big banks to implement it. Following this suggestion given by the Finance Minister will benefit the customers of all banks including ICICI Bank, SBI and HDFC Bank. The Finance Minister also said that there is a need to make the banking system more and more customer friendly. You have to take care of the facilities of the customers.

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HDFC Bank said that this offer is only for a limited time. In such a situation, to take advantage of this, the customers will have to open the FD before the offer ends. According to the information available on the HDFC Bank website, “Introducing HDFC Bank Special Edition Fixed Deposit. On this special FD, customers will get interest at the rate of 7.20% for a period of 35 months.

Whereas for a period of 55 months Interest will be available at the rate of 7.25%. The offer does not end there! Senior citizens will get additional interest up to 0.50%. So hurry up! Offer valid for a limited period only!” These rates have come into effect from 29 May 2023.

HDFC Bank latest FD rates

HDFC Bank is currently offering its customers a minimum interest rate of 3% (0.50% additional for senior citizens) on FDs. This offer is for FDs ranging from 7 days to 29 days. You can see the latest FD rates of HDFC Bank below-

For a period of 7 to 29 days – 3.00%

For a period of 30 to 45 days – 3.50%

For tenure of 36 to 89 days – 4.50%

For tenure from 36 days to 6 months – 4.50%

From 6 months 1 day to 9 months – 5.75%

From 9 months 1 day to 1 year – 6.00%

From 1 year 1 day to 15 months – 6.60%

From 15 months 1 day to 18 months – 7.10%

From 18 months to 2 years to 11 months – 7.00%

Above all tenors – 7.00%

HDFC Bank special FD offer

From 2 years 11 months to 36 months – 7.20%

7.25% on Special FD with a tenure of 4 years 7 months

* Senior citizens will get 0.50% extra interest on all FDs.

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Many banks in the country provide locker facilities to their customers in many of their big branches. Locker fees vary depending on its size and location. In addition, some banks such as State Bank of India (SBI), Canara Bank , oblige the locker-hirer to make a term deposit at the time of allotment, covering three years’ rent and lock the locker if the rent is not paid. cost is included.

what is bank locker

A safe deposit locker is a locker on rent that a bank offers you to keep your valuables. Valuables jewellery, gems, financial or legal papers, insurance policies, identity proofs, other confidential and personal items can be kept. The locker hirer should make advance payment of his rent for the entire financial year. Here is a comparison of HDFC Bank, SBI, ICICI Bank, Canara Bank, Yes Bank locker charges as per bank websites.

SBI locker fee

The bank will charge Rs.1500+GST for urban and metro customers for small size lockers and Rs.1000+GST for rural and small town customers for small size lockers. For medium-sized lockers, SBI charges Rs 3000 + GST ​​for urban and metro customers and Rs 2000 + GST ​​for rural, semi-urban customers.

hdfc bank locker charges

Depending on the availability and locations in HDFC Bank , the locker fees can range from Rs 1350 to Rs 20,000 per annum. In metro and urban locations, it usually charges an annual storage fee of Rs 3,000 for medium lockers, Rs 7,000 for large lockers and Rs 15,000 for extra large lockers.

ICICI Bank Locker Charges

ICICI Bank charges between Rs 1,200 to Rs 5,000 for small size lockers. For medium sized lockers, bank charges vary between Rs 2,500-9,000 and for large ones the charges vary between Rs 4,000-15,000.

yes bank locker fees

Yes Bank charges Rs 4,500 to Rs 32,000 for different sizes of lockers. According to the Yes Bank website, in case the locker is surrendered before the expiry of the lease period, a proportionate amount of advance rent collected i.e. will be refunded.

canara bank locker fees

For Canara Bank customers, the one-time locker registration fee is Rs 400 plus GST. Service charge for locker operation, limited to 12 free per year, thereafter there will be a charge of Rs.

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With the HDFC Bank and HDFC merger date getting closer, the dilemma of mutual funds is increasing. Actually, there is a significant share of funds in both the institutions, in such a situation, in case of merger, the share of funds in the new financial institution may exceed the prescribed limit.

According to media report, that market regulator SEBI is making up its mind not to give exemption to mutual funds for holding more than the limit. In such a situation, it is possible that the fund will have to reduce its stake within the stipulated time period. In such a situation, the selling of the stock will also affect the prices.

The merger will be completed in the next few weeks.

The merger will be completed in the next few weeks, which will create the country’s second largest financial institution after State Bank of India. However, at the same time, such funds whose stake is more than the prescribed limit will also be under pressure to reduce their stake and its effect will be seen on the stock of the merged institution.

As per SEBI regulations, a mutual fund scheme cannot invest more than 10% in a single security. However, exchange-traded funds and funds investing in specific sectors are exempted from this. As of Wednesday, the total exposure of at least 60 equity mutual fund schemes to HDFC Bank and HDFC has crossed the stipulated limit of 10%.

What are the options with the funds

A source said that Sebi may consider the breach of this limit as a “passive breach”, as there is no deliberate attempt to break the rules. This situation has arisen because of the merger. In such cases, the fund has 30 days to rebalance its portfolio, which can be further extended by 60 days, failing which the mutual fund may face regulatory action, the source said. Is.

On the other hand, another source said that if it had a widespread impact on the market, then there would have been a need to take regulatory steps, although this is not the case here. According to two executives of the mutual fund, the matter has been referred to the Association of Mutual Funds in India (AMFI). Officials said last week,

Block trade in HDFC

Block trade has been seen in HDFC today amidst ongoing discussions regarding the limit of mutual funds. Where 14.23 lakh shares have been traded at a price of 2650, the entire deal was worth Rs 377.19 crore. Today the stock is trading close to the level of 2650 with a slight gain. On the other hand, there has been a slight decline in the stock of HDFC Bank.

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The investment tenure of FDs varies between banks and can be anywhere between seven days to ten years. Investment returns are compounded on a regular basis, monthly, quarterly or annually. If you want to invest in these FDs before the scheme ends, here is a comparison of 1-2 year FD interest rates of banks like HDFC Bank, ICICI Bank, SBI and SBI Amrit Kalash.

State Bank Of India

SBI is providing 6.80% interest rate on FDs from 1 year to 2 years. While the FD rate under Amrit Kalash is 7.10% for a tenure of 400 days which is 13 months 4 days.

HDFC bank

HDFC Bank is offering 6.60% on FDs for 1 year to less than 15 months and 7.10% for 15 months to less than 18 months. These rates are applicable from May 29, 2023. High interest rate of 7.25% is offered for 4 years 7 months to 55 months is the limited edition bank FD.

ICICI Bank

ICICI Bank offers 6.70% for general citizens for tenure less than 1 year to 15 months. The bank offers the highest interest rate of 7.10% for tenors ranging from 15 months to less than 2 years. The rates are applicable from February 24, 2023.

Canara Bank

Canara Bank offers the highest interest rate of 7.25% for general citizens with a tenure of 444 days. These rates are applicable from April 5, 2023.

Yes bank

Yes Bank offers 7.50% interest rate on FDs of 1 year to less than 18 months. These rates are effective from May 2, 2023.

Take special care of these things

Please tell that these interest rates are applicable for the amount less than Rs 2 crore. These rates are applicable only for general citizens, senior citizens get 0.5% higher returns than other customers, and partial and early withdrawals are subject to penalty and vary with banks.

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The bank is paying more than seven percent interest on fixed deposits of both these periods. Along with this, senior citizens will get an additional interest of 0.50 percent on the investment. However, this FD scheme is open for investment for a limited period of time.

Interest rate on Special FD

According to the bank, those investing in the Special Fixed Deposit Scheme with a tenure of 35 months or 2 years 11 months will get interest at the rate of 7.20 per cent. At the same time, the bank is offering interest at the rate of 7.25 percent on special FDs with a period of 55 months or 4 years and 7 months. HDFC Bank is offering interest ranging from three per cent to 7.25 per cent on its other term fixed deposits. The bank is offering a maximum interest rate of 7.25 per cent on fixed deposits with a tenure of 4 years, 7 months to 10 years.

FD interest calculation

According to the bank’s website, the current interest rates are applicable from May 29, 2023, on deposits of less than Rs 2 crore. Some time ago HDFC Bank has changed the interest rates of FDs of less than one year and 15 months and made it 6.6 percent. Usually, HDFC Bank gives between 3% and 7.10% on fixed deposits above Rs 2 crore for regular citizens.

HDFC Bank calculates interest based on the actual number of days in a year. If the deposit is in a leap and a non-leap year, interest is calculated based on the number of days. That is, there are 366 days in a leap year and 365 days in a non-leap year.

Fixed repo rate

In the last financial year, the Reserve Bank had increased the repo rate continuously. After this, banks also increased the interest rates to make their FD schemes attractive. In the current financial year, the Reserve Bank has not yet increased the repo rate in any way. Repo rate is the rate at which the Reserve Bank lends to other banks.

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HDFC Bank vs SBI vs ICICI Bank FD Scheme: State Bank of India, HDFC Bank and ICICI Bank have come up with a special FD scheme for senior citizens. Let us know on which bank’s FD you will get the benefit of higher interest rate on investment.

HDFC Bank has launched HDFC Senior Citizen Care Scheme for senior citizen customers. This scheme was launched at the time of Corona. If you want to invest in this scheme then you have time till July 7, 2023.

Under the HDFC Senior Citizen Care Scheme, senior citizens are getting a whopping interest rate of 7.75 per cent on deposit schemes ranging from 5 to 10 years. At the same time, the bank is offering 7.70 and 7.75 percent interest rate to senior citizens on FDs of 35 and 55 months.

SBI has launched We Care FD scheme for senior citizens. Under this scheme, senior citizens are getting 30 basis points more than normal customers.

Under the SBI V Care scheme, people above 60 years of age are getting 7.50 percent interest rate on 5-year FD scheme. On the other hand, under SBI’s Amrit Kalash scheme, senior citizens are getting 7.60 percent interest rate on 400 days FD.

ICICI Bank has launched the Golden Year FD scheme for senior citizens. Under this scheme, customers are getting 7.50 percent interest rate as compared to ordinary citizens.

Under the Golden Year FD scheme by ICICI Bank, you will get the benefit of 7.50 percent interest rate for a period of more than 5 years.

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Many banks like State Bank of India (SBI), HDFC Bank, ICICI Bank, Punjab National Bank (PNB), Bank of Baroda (BoB) offer 50 basis points (0.50 basis points) to senior citizens for FDs of 7 to 10 years compared to normal customers. per cent) pay additional interest. Let us take a look at the interest rates offered to senior citizens on these special FDs.

SBI Special FD Scheme for Senior Citizens

We Care, the special FD scheme of State Bank of India, offers an additional 30 bps interest rate to senior citizens on their FDs for a tenure of 5 years or more. If a senior citizen puts a fixed deposit under the special FD scheme, then the interest rate applicable on FD will be 7.50 per cent.

These interest rates are effective from February 15, 2023. SBI Amrit Kalash FD scheme comes with a special tenor of 400 days, on which general public will get an interest rate of 7.10% and senior citizens will get an interest rate of 7.60%.

HDFC Bank Special FD Scheme for Senior Citizen

HDFC Bank’s special FD scheme for senior citizens is called HDFC Senior Citizen Care. The bank offers 75 bps higher rate of interest on these deposits. According to the bank’s website, the last date for investing in the Senior Citizen Care FD scheme has been extended till July 7, 2023.

HDFC Bank offers an interest rate of 7.75% to senior citizens for tenure between 5 years and 1 day to 10 years. These rates are effective from May 29, 2023. Apart from this, HDFC Bank has also introduced two special edition FDs with tenures of 35 and 55 months which offer interest rates of 7.70% and 7.75% respectively to senior citizens.

ICICI Bank Special FD Scheme for Senior Citizens

ICICI Bank’s Special FD Scheme for Senior Citizens – ICICI Bank Golden Years FD Scheme offers 80 bps higher interest rate. ICICI Bank Golden Year FD scheme offers 7.50 per cent interest annually. These interest rates are effective from February 24, 2023.

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The pilot-based digital rupee was launched on November 1, 2022, for use at the wholesale level. After that, the use of digital rupee in the retail segment was announced on December 1, 2022. Pilot projects were started in Mumbai, New Delhi, Bangalore and Bhubaneswar. In terms of usage, a limited range of customers and merchants were included in it.

Ahmedabad, Chandigarh, Gangtok, Guwahati, Hyderabad, Indore, Kochi, Lucknow, Patna and Shimla are also being included in the pilot project in a phased manner.

4 banks have been named

The pilot project started with four banks – State Bank of India, ICICI Bank, Yes Bank and IDFC First Bank. While four other banks… Bank of Baroda, Union Bank of India, HDFC Bank and Kotak Mahindra Bank joined later.

5 more banks are in the process of joining

Central Bank said in 2022-23 report Five more banks… Punjab National Bank, Canara Bank, Federal Bank, Axis Bank and IndusInd Bank are in the process of joining the pilot project. The scope is being gradually expanded to include more banks, users and locations as per the need.

According to the released report

, in the case of wholesale and retail digital rupees, things are satisfactory so far and are in line with what was expected. With reference to the digital rupee wholesale segment, it said that settlement of secondary market transactions in government securities has been included under it. Transactions between banks are expected to become more efficient with the use of digital money-wholesale segment. This arrangement is expected to bring down the disposal cost.

Currently nine banks are participating

State Bank of India (SBI), Bank of Baroda, Union Bank of India, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Yes Bank, IDFC First Bank and HSBC ) are participating in the pilot.

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