HDFC Bank has surprised customers by increasing the minimum balance requirement for savings accounts, similar to ICICI Bank’s recent move. From 1 August 2025, new savings account holders in metro and urban areas will need to maintain Rs 25,000 instead of the earlier Rs 10,000. If the balance falls below this limit, the bank will … Read more
HDFC Bank, the country’s largest private sector bank, has given relief to its crores of customers by reducing loan interest rates. The bank has cut its MCLR (Marginal Cost of Funds Based Lending Rate) by 0.05% for all loan tenures except the 2-year period. Since loan rates like home loans, car loans, and personal loans … Read more
HDFC Bank, the country’s largest private bank, has once again reduced the interest rates on fixed deposits (FDs) and savings accounts. The bank has lowered the rates by 25 basis points (0.25%), and the new rates are effective from June 25, 2025. This is the second time in June that HDFC Bank has made such … Read more
Starting July 1, major private banks like HDFC Bank and ICICI Bank will increase fees on credit cards and other banking services. HDFC Bank notified its customers about new charges, especially on credit card spending related to online gaming, digital wallets, and utility payments. If a customer spends over Rs 10,000 in a month on … Read more
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 Bank, India’s largest private sector bank, has surprised its customers by reducing fixed deposit (FD) interest rates. On April 1, 2025, the first day of the new financial year, the bank lowered its FD interest rates by 0.20%. This decision follows the Reserve Bank of India’s (RBI) recent repo rate cut in its last … Read more
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
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
On Friday, March 7, HDFC Mutual Fund introduced the HDFC Nifty Top 20 Equal Weight Index Fund. This open-ended index fund aims to track the Nifty Top 20 Equal Weight Index TRI. The fund is now open for subscription, and investors can invest in it until March 21, 2025. After the NFO closes, the fund … Read more
Unified Payments Interface (UPI) has made transferring money easier for people, whether it’s for grocery shopping or paying vegetable vendors. UPI is now widely used in many countries, and in India, HDFC Bank, the country’s largest private bank, has issued an important notice about UPI services. Temporary Unavailability of UPI Services HDFC Bank has informed … Read more
HDFC Mutual Fund has announced the launch of a new fund offer (NFO) for the HDFC Nifty 100 Quality 30 Index Fund, which will track the Nifty 100 Quality 30 Total Returns Index. The NFO will be open for subscription from 31 January 2025 to 14 February 2025. This fund is a good choice for … Read more