HDFC Bank Increases Cash Deposit Rate; Check Out More Details

One of the most popular private sector banks, HDFC Bank, has made the decision to raise the cash deposit rate beginning on November 1, 2022, for deposits that exceed the free limitations. According to the updated rates published on the HDFC Bank website, there have been revisions to the fees for a variety of current account types, including the Activ Current Account, Max Advantage Current Account, Plus Current Account, Ascent Current Account, Flexi Current Account, Premium Current Account, Regular Current Account, and more.

Prior to free transactional limits, the bank used to impose Rs 3 for every Rs 1000 or a minimum of Rs 50 for each transaction. But as of November 1, the bank would charge Rs 3.5 for every Rs 1000 of transactions that go over the free limitations, with a minimum charge of Rs 50.

This largest private sector lender has also updated the rates for current account holders who are a part of the imperia program. But there’s been no change in the charges for those holding savings accounts.

You can refer to the table below for information:

For details of other types of accounts, you can refer to the official website of the bank.

And on October 15, HDFC Bank announced a 22.30% increase in its consolidated net profit for the September quarter, coming in at Rs. 11,125.21 crore. On an individual basis, its net profit increased by more than 20.1% to Rs 10,605.78 crore from Rs 8,834.31 crore and Rs 9,196 crore in the prior June quarter.

Also read: HDFC Bank Announces New Interest Rates For RDs, Check Latest Rates Here

Disclaimer: The cash deposit rates mentioned in this article are recorded at the time of writing and are subject to change. BQ Prime does not endorse any of the cash deposit rates mentioned above. Please invest at your own discretion.