ICICI and HDFC banks lower FD rates
Posted on: 18/Nov/2016 12:48:35 PM
Major banks in the country, including ICICI Bank and HDFC Bank, have lowered their FD rates by up to .25 per cent. The lowering in fixed deposit rates may herald reduction in lending rate as well in the next few days.
According to the ICICI website, for fixed deposit between 390 days to 2 years, the banks have lowered the interest rate by 0.15 per cent effective yesterday. The current rate is 7.10 per cent as compared to 7.25 percent earlier.
Similarly, the HDFC website said, The new rates are effective today (Friday). For fixed deposits between 3 years 1 day-5 years, the rate has been lowered to 6.5 per cent from 6.75 per cent.
