HDFC Bank Reduces MCLR by up to 0.15%

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On May 7, 2025, HDFC Bank, the largest private sector bank in India, reduced its MCLR (Marginal Cost of Funds Based Lending Rate) by 0.10% to 0.15%. This reduction will lower the EMI (Equated Monthly Installments) for home, car, and personal loans. Following the RBI’s two cuts in the repo rate, many banks, including HDFC, … Read more

HDFC FD: High-Interest Savings for Diplomats & Embassies

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HDFC Bank has introduced a special fixed deposit (FD) scheme called the Diplomat or Embassy Scheme. This scheme is designed specifically for a select group of customers, including diplomats, non-diplomatic embassy staff, and employees of foreign embassies in India. Unlike regular FDs, this scheme allows customers to deposit money in US dollars. No Automatic Renewal … Read more

RBI Imposes Rs 75 Lakh Fine on HDFC Bank

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The Reserve Bank of India (RBI) has fined HDFC Bank ₹75 lakh, citing rule violations. According to RBI, the penalty was imposed due to lapses in following Know Your Customer (KYC) guidelines. RBI stated that HDFC Bank failed to classify some customers based on their risk category, such as low, medium, or high. Additionally, the … Read more