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.

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HDFC Bank launched this special Senior Citizens Care FD in May 2020 amid the Covid pandemic. According to the bank’s website, the last date to invest in the Senior Citizen Care FD scheme has been extended till July 7, 2023. Let us know about every type of information related to this special scheme of this bank.

What is this special scheme of HDFC Bank

HDFC Bank offers an additional interest rate of 25 bps (over the existing premium of 50 bps) to senior citizens under this special fixed deposit scheme . The benefit of this rate of interest will be available on the tenure of 5 years one day to 10 years. The last date to invest under this scheme is 7th July 2023.

What is the rule for premature withdrawal

In this special fixed deposit scheme of HDFC Bank, if a senior citizen withdraws before time, then there is a rule for that too. According to the bank, if the term of the deposit is five years and it is withdrawn before maturity, then 1 percent less interest will be given than the applicable interest rate. On the other hand, if the FD period is five years or more, then 1.25 percent less return will be available.

How much interest is received

This special fixed deposit scheme was started in May 2020 by HDFC Bank . Under this scheme, this bank is giving the benefit of 0.25% extra interest on FDs of less than 5 crores. Under this scheme, an interest rate of 7.75 per cent is being offered for a period of five years from one day to 10 years.

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