By Admin 
ICICI Bank and HDFC Bank Cut FD Rates: Two banks of private sectors HDFC and ICICI have cut a 20 basis point for selected tenure above the amount of less than Rs 3 crore on fixed deposits. The revised rates will be implemented on May 27 by ICICI Bank while HDFC has implemented this new rate since 23 May.
Revised rates on fixed deposits of ICICI-
– The interest rate from one year to 15 months has been reduced from 6.70 percent to 6.50 percent.
– The interest rate from 15 months to 18 months has been reduced by 6.60 percent to 6.60 percent.
– The interest rate from 18 months to 2 years has been reduced from 6.85 percent to 7.05 percent.
-2 years from 1 day to five years, the interest rate has been reduced by 6.90 percent to 6.75 percent.
Earlier, from 5 years to 10 years, where it was 6.80 percent of the rate, it has now been reduced to 6.70 percent.
Revised rates on fixed deposits of HDFC-
Fixed buzzing rates have been cut by HDFC Bank in April after a cut of 50 basis points, which is as follows.
From the year to 15 months, the interest rate has been reduced from 6.60 percent to 6.50.
From 18 months to 21 months, the interest rate has been cut from 7.05 percent to 6.85 percent.
After this new amendment, interest rates for people have now been ranging from 3.00 percent to 6.85 percent in HDFC Bank, while the senior citizens will be given interest between 3.50 percent to 7.35 percent. 7.35 percent interest will be available for senior citizens between 15 and 21 months.
Both banks have increased the interest rate given to senior citizens compared to the people. Along with this, it has also been allowed to withdraw the money back by breaking the fixed deposit ahead of time.
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