Latest News on HDFC Bank
As of March 2025, leading banks such as HDFC Bank, Bank of Baroda, Canara Bank, IDBI Bank, and Bank of India are expected to announce their latest lending rates.
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As of March 2025, several leading Indian banks have revised their Marginal Cost of Funds-based Lending Rates (MCLR), which impacts borrowing costs for individuals and businesses. The Reserve Bank of India (RBI) introduced the MCLR regime in 2016, which was later replaced by the External Benchmark-based Lending Rate (EBLR) regime in 2019. However, many existing borrowers who took loans during the MCLR regime still pay interest based on the MCLR rate.
Canara Bank has reduced its MCLR across select tenures, while HDFC Bank and Bank of Baroda have kept their rates unchanged. IDBI Bank and Punjab National Bank (PNB) have also maintained their MCLR rates. The revised rates will affect borrowers who have loans linked to the MCLR regime.
The MCLR rates for different tenures are:
* Canara Bank: 8.30% (overnight), 8.35% (one-month), 8.90% (six-month), 9.10% (one-year), 9.25% (two-year), and 9.30% (three-year)
* HDFC Bank: 9.20% (one-month), 9.30% (three-month), 9.40% (six-month), 9.40% (one-year), 9.40% (two-year), and 9.45% (three-year)
* Bank of Baroda: 8.15% (overnight), 8.35% (one-month), 8.55% (three-month), 8.80% (six-month), and 9.00% (one-year)
* Bank of India: 8.25% (overnight), 8.45% (one-month), 8.60% (three-month), 8.85% (six-month), 9.05% (one-year), and 9.20% (three-year)
* IDBI Bank: 8.45% (overnight), 8.60% (one-month), 8.90% (three-month), 9.15% (six-month), 9.20% (one-year), 9.75% (two-year), and 10.15% (three-year)
Borrowers who have loans linked to the MCLR regime can check their interest rates and make informed decisions based on the latest rates. The MCLR regime continues to play a crucial role in determining borrowing costs for individuals and businesses in India.
Martech is the next evolution of marketing, according to HDFC’s Deepak Oram, who sees it as a game-changer for businesses.
Deepak Oram, Senior Vice President of Growth Marketing & Martech at HDFC Bank, believes that MarTech goes beyond traditional marketing functions. He highlights that with the increasing digital-first behavior of customers, MarTech now generates a vast amount of data that can be applied to areas beyond marketing. Oram notes that the overlap between digital and non-digital channels has increased significantly, with customers initiating their journey digitally and then proceeding through physical channels.
Oram emphasizes the importance of leveraging digital insights to enhance the customer experience across all touchpoints, including physical channels. He advocates for an omnichannel marketing approach, which involves using digital insights to improve the physical landscape and vice versa. In the banking sector, this is particularly challenging due to the complexity of various channels, including branches, apps, and call centers.
Oram also stresses the importance of customer care in taking the tech beyond marketing. HDFC Bank is recruiting “techno-functional personnel” with a balance of technical and marketing expertise to drive innovation in the field of MarTech. Oram believes that a purely marketing-focused individual requires support from a technically savvy counterpart to drive innovation, citing the need for individuals who are well-versed in data and technology to support the bank’s compliance and customer data privacy requirements.
In conclusion, Oram’s views on MarTech highlight the vast potential of this technology in driving innovation and enhancing customer experience across all touchpoints. By leveraging digital insights and hiring the right talent, banks and other organizations can improve their marketing and customer engagement strategies.
Maximize your returns: Compare FD interest rates up to 9% with top banks, including 1-year fixed deposits at MSN.
The article discusses the current fixed deposit (FD) interest rates offered by various banks in India. With the Reserve Bank of India (RBI) increasing the interest rate to 9% to control inflation, banks have also hiked their FD rates to attract depositors. Here are the highest and one-year FD interest rates offered by different banks in India:
Highest FD Interest Rates:
- Axis Bank: 9.10% (for a deposit of ₹2.5 lakh to ₹5 lakh)
- HDFC Bank: 9.05% (for a deposit of ₹2.5 lakh to ₹5 lakh)
- ICICI Bank: 9.00% (for a deposit of ₹2.5 lakh to ₹5 lakh)
- SBI: 8.90% (for a deposit of ₹1 lakh to ₹1 crore)
- Kotak Mahindra Bank: 9.00% (for a deposit of ₹2 lakh to ₹5 lakh)
One-Year FD Interest Rates:
- Axis Bank: 7.50%
- HDFC Bank: 7.40%
- ICICI Bank: 7.30%
- SBI: 7.20%
- Kotak Mahindra Bank: 7.20%
Other Top Banks’ FD Rates:
- Bank of Baroda: 8.60% (for a deposit of ₹1 lakh to ₹5 crore)
- Yes Bank: 8.40% (for a deposit of ₹1 lakh to ₹5 crore)
- IndusInd Bank: 8.30% (for a deposit of ₹1 lakh to ₹5 crore)
- Punjab National Bank: 8.20% (for a deposit of ₹1 lakh to ₹5 crore)
Things to Keep in Mind:
- The interest rates mentioned are subject to change and may vary based on the deposit amount, tenure, and other factors.
- It’s essential to compare the different FD rates offered by various banks before investing.
- It’s also important to consider other factors such as the bank’s reputation, branch network, and customer service while choosing an FD.
- FDs can be a low-risk investment option, but it’s crucial to assess your financial goals and risk tolerance before investing.
In conclusion, with the RBI increasing the interest rate to 9%, banks have also hiked their FD rates to attract depositors. The interest rates mentioned above are effective as of the date of the article and may change over time. It’s essential for investors to stay informed about the current FD rates and rates offered by different banks before making an investment decision.
Important Notification for HDFC Bank Customers: Online Banking Services to be Disrupted for 4 Hours Tonight, Explore the Reason Behind the Unavailability | Personal Finance Updates
HDFC Bank has announced that it will be conducting scheduled maintenance on March 10, 2025, to improve the overall banking experience. During this time, several banking services will be temporarily unavailable. To avoid any inconvenience, customers are advised to plan their banking activities in advance.
The schedule for the maintenance period is as follows: NEFT transactions will be unavailable from 12:45 AM to 5:00 AM, and mutual fund-related transactions will be unavailable from 1:00 AM to 5:00 AM. Additionally, credit card transactions will not be processed between 5:00 AM and 7:30 AM, and customers are advised to have an alternative payment method ready.
It is also recommended that customers plan to make any mutual fund transactions before or after the maintenance period, as payments attempted during the maintenance window may fail or experience delays. HDFC Bank is upgrading its systems to enhance security and improve service quality, and this maintenance period is necessary to address these tasks.
This is not the first time HDFC Bank has conducted scheduled maintenance; in fact, the bank had previously conducted similar maintenance on March 8, 2025, which affected some services. The bank had shared the schedule in advance to keep customers informed. By planning ahead, customers can avoid any inconvenience and ensure a smooth banking experience.
FD interest rate hits 9%! Check the highest interest rates and one-year yields on fixed deposits of these banks with MSN.
Federal Bank of India (RBI) has revised the interest rates on fixed deposits (FDs) to control inflation and stabilize the economy. Multiple banks have responded by revising their FD interest rates, offering higher returns to customers. Here’s a summary of the highest interest rates and one-year interest rates offered by various banks for FDs:
Highest Interest Rates:
- Bank of Baroda: 7.50% (Above 1 year to 2 years)
- Canara Bank: 7.45% (Above 1 year to 2 years)
- Corporation Bank: 7.40% (Above 1 year to 2 years)
- Indian Overseas Bank: 7.35% (Above 1 year to 2 years)
- United Bank of India: 7.30% (Above 1 year to 2 years)
One-Year Interest Rates:
- ICICI Bank: 6.50% (1 year FD)
- HDFC Bank: 6.40% (1 year FD)
- Axis Bank: 6.25% (1 year FD)
- State Bank of India (SBI): 6.20% (1 year FD)
- Federal Bank: 6.15% (1 year FD)
As you can see, the highest interest rates are offered by public sector banks, while private banks offer lower rates. The one-year interest rates range from 6.15% to 6.50% for most banks. These rates are subject to change and may vary depending on the bank, tenure, and type of deposit.
It is essential to note that bank FD interest rates are subject to variations based on market conditions, economic indicators, and Reserve Bank of India’s (RBI) guidelines. You should review the rates and terms before investing in an FD to ensure it aligns with your financial goals and risk tolerance.
Before investing in a fixed deposit, consider the following factors:
- Tenure: Choose the appropriate tenure based on your liquidity needs and financial goals.
- Interest rate: Check the highest interest rate offered by each bank for your chosen tenure.
- FD type: Understand the type of FD you’re investing in (e.g., cumulative, non-cumulative).
- Bank reputation: Research the bank’s reputation, stability, and customer service.
- Tax implications: Withdrawals are taxable as per your income tax bracket.
Remember to consult with a financial advisor or conduct further research before making an investment decision.
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Unlock the highest FD rates: Find the top interest rates, up to 9%, and one-year fixed deposit offers from these banks – MSN
Ahead of the Reserve Bank of India’s (RBI) decision to hike the repo rate, several banks have raised their fixed deposit (FD) interest rates to attract deposits. Here’s a summary of the highest interest rates offered by top banks in India:
Highest FD Interest Rates in India:
- Bank of Baroda: 8.50% (1 year), 8.70% (2 years), 8.90% (3 years)
- Punjab National Bank: 8.50% (1 year), 8.75% (2 years), 9.00% (3 years)
- State Bank of India (SBI): 8.35% (1 year), 8.60% (2 years), 9.00% (3 years)
- Canara Bank: 8.40% (1 year), 8.65% (2 years), 9.00% (3 years)
- ICICI Bank: 8.30% (1 year), 8.65% (2 years), 8.90% (3 years)
- HDFC Bank: 8.25% (1 year), 8.60% (2 years), 9.00% (3 years)
- Kotak Mahindra Bank: 8.30% (1 year), 8.65% (2 years), 9.00% (3 years)
- Axis Bank: 8.20% (1 year), 8.60% (2 years), 9.00% (3 years)
Key Takeaways:
- The highest FD interest rate is offered by Bank of Baroda at 8.90% for a 3-year tenure.
- Canara Bank and Punjab National Bank offer the highest interest rate for a 2-year tenure at 9.00%.
- State Bank of India (SBI) and Kotak Mahindra Bank offer the highest interest rate for a 1-year tenure at 8.60%.
- Interest rates vary depending on the bank, tenure, and deposit amount.
- It is essential to compare FD rates before investing to get the best returns.
Rises in FD interest rates are usually linked to changes in Repo Rates. The RBI increased the Repo Rate by 40 basis points to 4.00% on June 6, 2023, which has led to a hike in FD rates. As a result, investors can now earn higher returns on their deposits. However, it’s crucial to assess the suitability of FDs compared to other investment options, considering factors such as liquidity, tax implications, and inflation.
Would you earn 5X the rewards by loading your ForexPlus card, or is it a savvy financial move?
HDFC Bank is offering a limited-time offer that gives 5X reward points on loading or reloading ForexPlus cards with specified credit cards. Here’s a summary of the offer and factors to consider before availing it:
What are HDFC Bank ForexPlus cards?
HDFC Bank offers various ForexPlus cards that allow you to carry foreign currency on your international trip. Two popular variants are:
- Multicurrency Platinum ForexPlus Chip Card: Can be loaded in 22 currencies with no forex fluctuations.
- Regalia ForexPlus Card: Has zero cross-currency conversion mark-up charges.
5X reward points on loading ForexPlus cards with specified credit cards
The offer is applicable for HDFC Bank customers who load or reload their ForexPlus cards with one of the following credit cards:
- HDFC Bank Regalia First
- HDFC Bank Regalia
- HDFC Bank Regalia Activ
- HDFC Bank Regalia Gold
- HDFC Bank Diners Privilege
- HDFC Bank Diners Black
- HDFC Bank Diners Black Metal
- HDFC Bank Infinia
- HDFC Bank Infinia Metal
How to earn 5X reward points?
The maximum reward points a customer can earn is 15,000 per calendar month. The additional 4X reward points are capped at 15,000, with no capping on the 1X reward points. To be eligible, the minimum transaction value must be Rs. 15,000 or above.
Factors to consider
- Forex card issuance fee and reloading fee
- Forex mark-up charges and cross-currency conversion mark-up charges
- ATM cash withdrawal fee and daily cash withdrawal limits
- Balance enquiry fee, etc.
- The exchange rates offered at the time of card loading or reloading may be higher, reducing the benefit of 0% forex charges.
Should you take the offer?
If you have an upcoming international trip and one of the specified credit cards, consider taking the offer. However, weigh the fees against the reward rate to determine if it’s a good deal for you. If not, consider other options, such as debit and credit cards with 0% cross-currency mark-up.
Interest Rates Compared: A Comparative Analysis of Top Banks – SBI, BoB, PNB, Canara and More
The article discusses the various options for investing in India, with a focus on Fixed Deposits (FDs) in major banks. The article provides an overview of the interest rates offered by six banks – State Bank of India (SBI), Bank of Baroda (BoB), Punjab National Bank (PNB), Canara Bank, ICICI Bank, and HDFC Bank – for FDs of 1 year, 3 years, and 5 years, as well as the estimated returns on an investment of Rs 20 lakh.
The interest rates offered by these banks range from 7.00% to 7.90%, depending on the tenure of the FD. For a 1-year FD, SBI and BoB offer 7.30% interest, while Canara Bank and ICICI Bank offer 7.20%. For a 3-year FD, Canara Bank offers the highest interest rate of 7.90%, while SBI and PNB offer 7.50%. For a 5-year FD, Axis Bank offers the highest interest rate of 7.75%, while HDFC Bank and ICICI Bank offer 7.50%.
According to the article, if you invest Rs 20 lakh in SBI for 1 year, you can get a return of Rs 21,50,046, which is 7.30% of the principal amount. Similarly, an investment in Canara Bank for 3 years can fetch a return of Rs 25,29,033, which is 7.90% of the principal amount. For a 5-year FD, Axis Bank offers the highest return of Rs 29,35,686, which is 7.75% of the principal amount.
Overall, the article suggests that FDs in major Indian banks can be a good option for investors seeking a relatively safe and stable return on their investment. It is worth noting that the interest rates offered by banks are subject to change, and investors should check the current interest rates and other terms and conditions before investing.
HDFC Bank pioneers the first-ever gold trade via its innovative IIBX platform.
HDFC Bank, a leading Indian bank, has made history by executing the first-ever trade in gold on the India International Bullion Exchange (IIBX) under the Special Category – Nominated Bank Category. This significant milestone was achieved on February 28 and paves the way for other nominated banks to follow suit and import bullion through the IIBX ecosystem. The trade, which imported gold through the IIBX platform, marks a significant step forward for India in the global bullion market.
Arup Rakshit, Group Head-Treasury at HDFC Bank, expressed the bank’s happiness in being a part of this historic deal and commended their valued customer, Malabar Gold and Diamonds Limited, for their participation. This achievement is a testament to HDFC Bank’s commitment to supporting India’s efforts to play a larger role in the global bullion market.
The IIBX is a specialist exchange that provides a platform for trading in bullion, including gold, silver, and platinum. The exchange’s Nominated Bank Category allows participating banks to import and export bullion, thereby streamlining the process and reducing costs. This development is expected to have a positive impact on the Indian bullion market, providing greater access to the global market and increasing market liquidity.
This achievement is also significant from the perspective of the Reserve Bank of India (RBI), which has been promoting the development of a robust gold market in the country. The RBI has been encouraging the use of the Indian Gold Market to enable increased gold trading and investment, which will help to reduce our dependence on imported gold and increase the nation’s foreign exchange reserves.
Overall, HDFC Bank’s successful trade on the IIBX marks a significant milestone in India’s bullion market, demonstrating the country’s growing presence in the global bullion market. This achievement is expected to attract other banks and market players to the IIBX platform, leading to increased market activity and growth in the Indian bullion market.
HDFC Securities recommends buying Federal Bank shares with a target price of Rs 210.
HDFC Securities has issued a buy call on Federal Bank, with a revised target price of Rs 210, down from the earlier target of Rs 220. The current market price of Federal Bank is Rs 180.9. The bank’s key products include interest and discount on advances, income from investments, and interest on balances with RBI and other inter-bank funds.
The bank’s financials show a consolidated total income of Rs 8196.02 crores for the quarter ended December 2024, a 2.25% increase from the previous quarter and a 17.19% increase from the same quarter last year. The bank has reported a net profit after tax of Rs 944.15 crores in the latest quarter.
HDFC Securities is optimistic about Federal Bank’s prospects, citing the bank’s plan to monetize its balance sheet strengths by increasing CASA mobilization, scaling medium-yield businesses, and increasing fee income from areas such as trade, foreign exchange, wealth management, and commercial mortgage services. The bank’s new MD is focusing on improving the deposit mix and pricing power, which will lead to improved profitability.
The brokerage firm expects Federal Bank to capitalize on its current strengths, including its quality deposit franchise and superior underwriting standards, with clear catalysts for earnings reflation. They have tweaked their estimates to factor in elevated operating expenses in FY26E and building in operating efficiencies in FY27E. Despite this, HDFC Securities maintains a buy call on the bank with a revised target price of Rs 210.
The Reserve Bank and the Central Bank have cooperatively reduced home loan interest rates to an unprecedented low of 8.10%, a benchmark among all major banks.
After the Reserve Bank of India’s recent repo rate cut, two banks, Union Bank of India and Central Bank of India, have lowered their home loan interest rates to 8.10%, making them the most competitive in terms of rates. Here’s a comparison of monthly EMIs for a Rs. 1 lakh home loan over 20 years:
* Union Bank of India and Central Bank of India: 8.10%, approximately Rs. 843 per month
* Bank of Baroda, Canara Bank, and Punjab National Bank: 8.15%, approximately Rs. 846 per month
* State Bank of India: 8.25%, approximately Rs. 852 per month
* Bank of India: 8.30%, approximately Rs. 855 per month
* IDBI Bank: 8.50%, approximately Rs. 868 per month
* Axis Bank, HDFC Bank, ICICI Bank, and Kotak Mahindra Bank: 8.75%, approximately Rs. 884 per month
* Yes Bank: 9%, approximately Rs. 900 per month
Three key considerations for borrowing a home loan are:
* Prepayment penalties: Check the bank’s policy on early repayment, as some banks charge penalties for paying off loans early.
* Monitor your CIBIL score: A good credit score (700 or above) is crucial for loan approvals and can help you secure better loan terms.
* Keep an eye on offers: Banks occasionally roll out new offers, so research and compare to secure the best deal.
Borrowers should consider these factors to make an informed decision and take advantage of the reduced home loan rates offered by these banks.
HDFC Bank’s deposits continue to grow solidly despite challenging market conditions, says Ankit Agrawal, a CFA at Smartkarma.
The article "HDFC Bank (HDFCB): Robust Deposit Growth Despite Tough Environment" by Ankit Agrawal, CFA of Smartkarma, provides an analysis of HDFC Bank’s financial performance, particularly its deposit growth, in a challenging economic environment.
The article highlights that HDFC Bank’s deposit growth has been robust, with a 16.5% year-on-year (YoY) increase in fiscal year 2022, despite a challenging operating environment. The bank’s deposit growth has outpaced the industry average, driven by its strong brand reputation, extensive branch network, and innovative product offerings.
Agrawal notes that HDFC Bank’s deposit growth has been driven by a combination of factors, including:
- Retail deposits: The bank has seen a significant increase in retail deposits, which accounted for 55% of its total deposits in fiscal year 2022. This is due to the bank’s strong distribution network, extensive branch presence, and innovative digital initiatives.
- Corporate and wholesale deposits: The bank has also seen a 32.4% YoY increase in corporate and wholesale deposits, driven by its strong relationships with large corporate clients and its ability to offer competitive interest rates.
- Now services: HDFC Bank’s cash management services, known as "Now," have been successful in attracting high-yielding deposits from corporate clients, which contributes to the bank’s strong deposit growth.
Agrawal highlights that HDFC Bank’s deposit growth is a testament to its strong brand reputation, extensive branch network, and innovative product offerings. The bank’s ability to attract deposits in a challenging environment is a key factor in its ability to maintain its market leadership in the Indian banking industry.
Overall, the article concludes that HDFC Bank’s robust deposit growth is a key strength, driven by its strong brand reputation, extensive branch network, and innovative product offerings. The bank’s ability to attract deposits in a challenging environment is a key factor in its ability to maintain its market leadership in the Indian banking industry.
Comparing FD Interest Rates: SBI, PNB, and other Top Indian Banks – Get Latest Rates and Offers
A Fixed Deposit (FD) is a type of investment where an individual makes a one-time, lump-sum investment with a bank for a predetermined duration. In return, the individual earns interest on the deposited amount at a predetermined rate, set at the time the account is opened. With FDs, investors can earn a fixed rate of return on their investment, which can be a secure and attractive option for those seeking relatively low-risk investments. The interest rate offered by banks on FDs can vary, making it essential for investors to compare rates before making an investment.
In India, several top banks offer FDs with varying interest rates. As of [current year], the interest rates offered by top Indian banks for a one-year FD are as follows:
* State Bank of India (SBI): 5.30% to 5.50%
* HDFC Bank: 5.50% to 5.70%
* Axis Bank: 5.20% to 5.40%
* ICICI Bank: 5.40% to 5.60%
* Kotak Mahindra Bank: 5.50% to 5.70%
It is essential to note that FD interest rates can be affected by various factors, including the deposit amount, tenure, and interest rate changes. Investors can maximize their returns by comparing the interest rates offered by different banks and choosing the one that best suits their financial goals and risk appetite.
In general, FDs can be an attractive option for individuals who:
* Want a low-risk investment
* Are willing to commit the funds for a specific period
* Need a regular income stream
* Are seeking a predictable rate of return
However, investors should also consider the risks associated with FDs, such as:
* Market fluctuations
* Inflation
* Repayment of deposits before maturity
* Compounding of interest
Ultimately, FDs can be a good option for those who are looking for a stable, low-risk investment with a relatively fixed return. By comparing interest rates and considering the pros and cons, investors can make an informed decision about whether an FD is suitable for their financial goals.
Six major banks are currently offering home loan interest rates ranging from 8.1% to 8.15%.
The Reserve Bank of India (RBI) recently reduced the repo rate by 25 basis points to 6.25%, which is expected to ease the burden on home loan borrowers. As a result, banks are passing on the rate-cut benefit to their customers. State Bank of India (SBI) has been the first major bank to do so, reducing its floating rate home loan interest rates by 0.25% to 8.25%. This makes SBI’s home loan rates cheaper than many private sector lenders, such as HDFC and ICICI Bank. However, other public sector banks, including Union Bank of India, Central Bank of India, Bank of Baroda, Punjab National Bank, Canara Bank, and Indian Bank, are offering even cheaper rates, starting at 8.1% per annum. In contrast, private sector lenders like HDFC Bank, Axis Bank, Kotak Mahindra Bank, and ICICI Bank are offering home loans starting at 8.75% per annum. It’s important to note that final home loan rates offered by lenders vary based on individual credit scores. With all lenders expected to pass on the repo rate cut benefit to customers by the next interest reset cycle, home loan borrowers may see further reductions in interest rates.
Private banks reduce their CD (cash reserve) ratios in response to a strain in liquidity – Banking & Finance News
Private banks in India have been reducing their credit-deposit (CD) ratios in recent quarters as they prioritize deposit growth over advances amidst tight liquidity conditions. The average CD ratio, also known as the loan-to-deposit ratio (LDR), has decreased to 90.74% in the December quarter of the current financial year, down from 94.4% in the same period a year ago. Private sector banks, such as HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank, Yes Bank, and IDFC First Bank, have all seen a year-on-year decline in their CD ratios.
HDFC Bank, the largest private lender, has seen a significant decline in its CD ratio to 98.2%, down from 110.5% in the same quarter a year ago. The bank is aiming to bring its CD ratio back to pre-merger levels with HDFC Ltd. IDFC First Bank, Yes Bank, and RBL Bank have also seen significant declines in their CD ratios.
Private banks have been aggressively expanding their loan portfolios, but with deposit growth slowing, they are now prioritizing building a stronger deposit base and scaling back loan growth. Banks are also intensifying their efforts to enhance their liability franchises by offering higher rates on term deposits and sourcing funds through certificates of deposit, albeit at a higher cost.
The CD ratio is a key metric that indicates a bank’s liquidity and credit risk. A high CD ratio can pose liquidity and credit risk for a lender. The Reserve Bank of India has expressed concerns about high LDRs and has asked lenders to narrow the gap between credit and deposit growth. With deposit competition remaining aggressive, banks are working to improve their CD ratios to align with regulatory expectations and reduce their reliance on borrowings, which can increase funding costs and compress net interest margins.
Compare Fixed Deposit Interest Rates 2025: SBI, PNB, ICICI, HDFC – Which Bank Offers the Highest Returns?
The article from ET Now compares the fixed deposit (FD) interest rates offered by four major Indian banks: State Bank of India (SBI), Punjab National Bank (PNB), ICICI Bank, and HDFC Bank. As of 2025, here are the interest rates offered by each bank for a 1-year FD:
- State Bank of India (SBI):
- General public: 4.80% (compounded quarterly)
- Senior citizens: 5.20% (compounded quarterly)
- Punjab National Bank (PNB):
- General public: 4.85% (compounded quarterly)
- Senior citizens: 5.25% (compounded quarterly)
- ICICI Bank:
- General public: 4.90% (compounded quarterly)
- Senior citizens: 5.30% (compounded quarterly)
- HDFC Bank:
- General public: 5.00% (compounded quarterly)
- Senior citizens: 5.40% (compounded quarterly)
As of 2025, HDFC Bank offers the highest interest rate for both general public and senior citizens, with a difference of 0.10% to 0.30% compared to the other three banks. ICICI Bank and PNB offer slightly lower rates, while SBI has the lowest rates among the four banks for both general public and senior citizens.
It’s worth noting that these rates are subject to change and may vary based on the deposit tenure, account type, and other factors. Interest rates on FDs may also vary depending on the bank’s discretion and market conditions. It’s always a good idea to review the current rates and terms before investing or depositing your funds in an FD.
For those looking for a guaranteed return on their savings, FDs can be a suitable option, especially for senior citizens or those seeking a low-risk investment. However, investors should carefully review the terms and conditions, including the interest rates, tenure, and penalties for premature withdrawal before making a decision.
RBI urges banks to maintain normal business operations for government transactions
The Reserve Bank of India (RBI) has issued an advisory to all banks handling government transactions, instructing them to remain open on March 31, 2025, a public holiday, to ensure that government transactions are completed. The move is aimed at ensuring that all government receipts and payments are accounted for in the financial year 2024-25.
The advisory specifically applies to “Agency Banks” which handle government business, and includes 33 banks such as Bank of Baroda, Canara Bank, State Bank of India, Central Bank of India, Axis Bank, HDFC Bank, ICICI Bank, Federal Bank, Yes Bank, Dhanlaxmi Bank, and IndusInd Bank among others. The RBI has asked Agency Banks to publicize the availability of these banking services on March 31, 2025, so that customers are aware and can complete their financial transactions without confusion.
The RBI’s decision comes at the request of the government, which is keen to ensure that all government transactions are recorded in the relevant financial year. The advisory aims to prevent any disruption in government transactions and ensure that the financial year 2024-25 is closed with all transactions accounted for. With this move, the RBI is providing an additional day for banks to handle government transactions, allowing them to remain open on a public holiday.
The advisory emphasizes the importance of completing government transactions on March 31, 2025, to avoid any inconvenience or disruption. It is crucial for Indians to be aware of this development and plan accordingly to complete their financial transactions without any hassle.
The prestigious Hurun List 2024 has unveiled India’s top 10 most valuable companies, featuring the likes of Reliance, TCS, Infosys, and HDFC Bank.
The Hurun List 2024, a report by Burgandy Private and Hurun Research, has revealed the top 10 most valuable private companies in India, with Reliance Industries topping the list with a valuation of ₹17.5 lakh crore. The top 10 companies had a combined valuation of over ₹84 lakh crore, higher than Saudi Arabia’s entire GDP. The report also highlights the growth of India’s corporate sector, with the top 500 companies seeing a 40% rise in their cumulative value to $3.8 trillion.
The report highlights the sheer scale and growth of India’s corporate sector, with companies like Reliance Industries, Tata Consultancy Services, and HDFC Bank leading the way. The top 10 companies saw a significant increase in their valuation, with Reliance Industries and TCS showing double-digit growth. The rise in valuation is a testament to the growth of India’s economy and the increasing investment in the country’s corporate sector.
The report also emphasizes the importance of corporate social responsibility (CSR) in India, with the top 500 companies collectively spending ₹11,000 crore on CSR initiatives. This demonstrates the commitment of Indian companies to giving back to the community and contributing to sustainable development.
In conclusion, the Hurun List 2024 is a significant report that highlights the growth and scale of India’s corporate sector, as well as the importance of CSR initiatives. It provides valuable insights into the performance of India’s top companies and the opportunity for investors to benefit from the growth of the Indian economy.
Finidi bags a whopping ₹500 crore deal with Union Bank of India, paving the way for the rollout of 900 ATMs across India.
Findi, a cash and payment services provider, has partnered with Union Bank of India to install 900 ATMs across India. The deal is valued at approximately ₹500 crore in revenue and ₹200 crore in EBITDA over a 7+1 year period. This partnership is a significant milestone for Findi, as it expands its reach to underserved urban and rural areas, aligning with its mission to enhance banking infrastructure and improve financial accessibility. Findi, through its majority-owned subsidiary, Transaction Solutions International (TSI), currently operates over 9,000 Brown Label ATMs across India, serving 13 major banks, including SBI, HDFC Bank, and Central Bank of India.
This partnership follows recent developments, including Findi’s acquisition of BankIT, a digital payments provider with over 129,000+ merchant touchpoints, and approval from the Reserve Bank of India (RBI) for the full acquisition of Tata Communications Payment Solutions Ltd. This solidifies Findi’s leadership in India’s financial services sector.
Findi’s Managing Director and CEO, Deepak Verma, emphasized the importance of expanding access to financial services, stating that the company is “strengthening financial inclusion and supporting India’s vision of a more digitally connected economy.” With this partnership, Findi is poised to play a significant role in bridging the financial divide, connecting millions of individuals and businesses to essential banking services.
HDFC Bank Launches Exclusive Salary Account for Public Sector Undertaking (PSU) Employees with Integrated Cybersecurity Benefits
HDFC Bank has launched a special salary account designed specifically for public sector employees (PSU) in India. This new account, named ‘HDFC Bank PSU Employee Salary Account’, comes with unique benefits, including coverage against cyber fraud. This is a first-in-the-industry offering, setting HDFC Bank apart from others in the market.
The PSU Employee Salary Account is specifically designed to cater to the needs of PSU employees, who often have unique financial requirements and security concerns. The account offers a range of benefits, including:
1. Cyber Fraud Cover: The account comes with a complimentary cyber fraud cover, which provides protection against online frauds and identity theft. This cover is additional to the existing fraud-related product offerings in the market.
2. E-commerce benefits: The account offers exclusive e-commerce benefits, allowing PSU employees to shop from over 5,000 partner merchants and enjoy cashback offers, discounts, and flexible payment options.
3. High-end insurance: The account offers a range of insurance covers, including life insurance, health insurance, and accidental insurance, providing comprehensive coverage to PSU employees and their families.
4. Convenient payment options: The account offers a range of payment options, including online bill payment, NEFT, RTGS, and IMPS, making it easy for PSU employees to manage their finances.
5. High-yield savings: The account also offers high-yield savings options, allowing PSU employees to earn competitive interest rates on their savings.
Eligibility for the HDFC Bank PSU Employee Salary Account is straightforward, with applicants required to be a PSU employee or a retired employee with a minimum of one year of service. The account is available in select cities, with plans to expand to more regions in the future.
The introduction of this product demonstrates HDFC Bank’s commitment to catering to the unique needs of PSU employees, who often face distinct financial challenges. The cyber fraud cover, in particular, is a game-changer, providing an additional layer of protection for PSU employees against online threats.
Overall, the HDFC Bank PSU Employee Salary Account is a comprehensive solution designed to cater to the needs of PSU employees, offering a range of benefits that can make financial management easier, more efficient, and more secure.