Monday, 20 November, 2017

HDFC Bank reduces rates on certain savings accounts to 3.5% from 4%

After SBI now HDFC Bank and Yes Bank cut interest rate on savings account Interest Rate on Saving Bank Accounts: 7 Top Banks That Have Slashed Rates to Benefit Customers
Freda Brock | 18 August, 2017, 09:29

Just yesterday, Private sector lender Yes Bank reduced the interest rate on savings bank accounts by 1 per cent to 5 per cent for deposits of less than Rs 1 lakh. An excerpt from the regulatory filing submitted by HDFC Bank read, "Post revision, customers maintaining savings bank account balance of Rs 50 lakh and above will continue to earn interest at 4 per cent per annum". The bank has maintained the 6% return that it offered customers with deposits between Rs 1 lakh and Rs 1 crore, while reducing the rate on deposits above Rs 1 crore to 5.5% from 6% earlier. These revised rates will be applicable for both resident and non-resident customers, HDFC Bank said. But for depositors of over Rs 1 lakh but less than Rs 1 crore, the bank will continue to pay the existing savings bank rate of 6%.

HDFC Bank: HDFC slashed rates for savings bank account balance below Rs 50 lakh to 3.5% per year. Karnataka Bank too has tweaked the interest rate on savings bank accounts.

Please Wait while comments are loading. The other four banks are Bank of Baroda, Axis Bank, Indian Bank and Karnataka Bank.

Government lawyers: 'No diplomatic immunity for Grace'
She is accused of hitting a 20-year-old woman over the head with an extension cord in a hotel room near Johannesburg. Hennie Strydom, a University of Johannesburg global law expert, said the law on diplomatic immunity was "clear".

Most have kept their savings bank rate at 3.5%, specially for the smaller depositors.

Since July 31, three banks have cut their SB rates. Then, after a few months in October 2011, the central bank deregulated the savings rate, allowing banks the freedom to take their own decisions on interest rates.

The private sector bank said that the rate remains unchanged at 6 per cent for SB deposits in the above ₹1 lakh and less than ₹1 crore slab, . According to RBI officials, depositors continue to receive a positive return on their savings account considering that retail inflation is less than 3.5%. The new rates would be effective from September 1. Reports stated that the move, which may lead to a rate ware, will help the bank make an additional gain of around Rs 2,500 crore.

Recommended

  • Delhi HC wonders why adults are playing the game

    Delhi HC wonders why adults are playing the game

    The Court asked the Central government as to whether any order has been passed by it to block the controversial game. The Delhi HC also expressed its concern over children allegedly committing suicide while playing the deadly game.
    Meet Nokia 8: A Phone Made For Livestreaming

    Meet Nokia 8: A Phone Made For Livestreaming

    The smartphone carries a 4GB RAM and 64GB internal memory with and external MicroSD card slot supporting up to 256GB. Processor and Android of Nokia 8 - The new phone from Nokia is powered by a Qualcomm Snapdragon 835 SoC processor.
    Cloudflare CEO opens up far-right website to vigilante DDoS attacks

    Cloudflare CEO opens up far-right website to vigilante DDoS attacks

    The iPhone maker has disabled Apple Pay support for a number of sites selling goods from white supremacist groups. WhatsApp and other encrypted messaging services have come under attack.
  • Trump signs order to shorten project permitting process

    Trump signs order to shorten project permitting process

    The executive order will set "a two-year goal for completion of the permitting process" but with "accountability and discipline". The $200 billion is the same number the White House budget director earmarked for infrastructure investment last month.
    Quake Champions Early Access to Begin August 22nd

    Quake Champions Early Access to Begin August 22nd

    Bethesda Softworks has confirmed DOOM Slayer (also known as Doomguy) to be making his way to the roster of Quake Champions . The Doom guy has the Berserk ability, which allows him to destroy enemies with his bare hands.
    Moon says North Korea crisis must end peacefully

    Moon says North Korea crisis must end peacefully

    China, meanwhile, signaled a potentially important break with North Korea as part of worldwide sanctions. Fang Fenghui (FAHNG FENG-wuee), the head of the People's Liberation Army's joint staff department.
  • CEOs abandon Trump over Charlottesville

    CEOs abandon Trump over Charlottesville

    "We remain resolute in our potential and ability to improve American manufacturing", he said in a statement . For U.S. business leaders, navigating President Donald Trump's controversies is proving to be a thorny task.
    President Trump calls Prime Minister Modi to wish Indians on Independence Day

    President Trump calls Prime Minister Modi to wish Indians on Independence Day

    Indian Prime Minister Narendra Modi has called for reviving strife-torn Kashmir's so-called "heaven on earth" reputation. The entrepreneurs participating in deliberations include Paytm CEO Vijay Shekhar Sharma.
    House Democrat Files Impeachment Against Trump

    House Democrat Files Impeachment Against Trump

    The legislation is likely dead on arrival in Washington with Republican majorities in the House and Senate, but Rep. The PRRI survey was conducted August 2-8, before last weekend's white nationalist rally in Charlottesville, Va.
  • Doklam standoff: Japan throws its weight behind India

    Doklam standoff: Japan throws its weight behind India

    The host accuses India of being a "bad neighbour", saying that Doklam has been internationally recognised as a "part of China". All the officers spoke on condition of anonymity because of the sensitivity of the issue.
    Spanish Police Carry Out Several Controlled Explosions in Cambrils

    Spanish Police Carry Out Several Controlled Explosions in Cambrils

    The vehicle careered into terrified pedestrians in the busy tree-lined promenade, one of the most popular parts of the city. Prime Minister Mariano Rajo said he was in contact with authorities, and the priority was to attend to the injured.
    United States  seeks 'effective' ties with China's military

    United States seeks 'effective' ties with China's military

    In Seoul, South Korean President Moon Jae-in vowed yesterday "there will be no war" on the peninsula. China, the North's biggest ally, accounts for 90 percent of its trade.

Kulsoom Nawaz flies for London Kulsoom Nawaz flies for London The nomination papers of Hafiz Nauman, who is covering candidate of Kulsoom Nawaz, have also been approved by the ECP. The polling will be held on September 17.

Maruti Suzuki launches all new Ciaz S at Rs 9.39 lakh Maruti Suzuki launches all new Ciaz S at Rs 9.39 lakh The Ciaz in India rivals the likes of the Honda City , the Volkswagen Vento, the Skoda Rapid and the upcoming new Hyundai Verna . Under the hood, the Ciaz S variant is powered by a 1.4-litre petrol engine that produces 91 hp of power and 130Nm of torque.

NZ Rugby to investigate Smith sex scandal NZ Rugby to investigate Smith sex scandal Barrett, the reigning World Rugby player of the year, has borne a lot of it. "We didn't do that in the Lions series". Our guy down the other end of the field - you wouldn't want to give him too much room".

UN chief offers help to broker North Korea talks The Trump administration's pledge to meet North Korean threats with " fire and fury " may have had something to do with that. However, Kim Jong Un , the young leader of North Korea, may see the Trump warnings of military action as very credible.

S&P, Dow tumble to worst losses in three months S&P, Dow tumble to worst losses in three months The dollar posted its third session of losses against the yen, falling 0.15% to ¥109.40 and shrinking this week's gains to 0.4%. Treasury prices rose, with the benchmark 10-year yield settling 3 bps lower at 2.20% after trading as high as 2.25%.

President Trump's lawyer touts pro-Confederacy rhetoric in email President Trump's lawyer touts pro-Confederacy rhetoric in email There is no evidence that any of the journalists used the contents of the email in their coverage, the Times said. Trump's comments - and his reluctance to back off from those statements - have led to a political backlash.

Tillerson says U.S. seeks to pressure North Korea to resume diplomatic talks Tillerson says U.S.  seeks to pressure North Korea to resume diplomatic talks He added the US and Japan will strengthen their bilateral alliance by enhancing cooperation with South Korea. The statement included a note on trilateral U.S. -Japan cooperation with South Korea.

Brooks Koepka was the most dominant golfer at this year's golf majors Brooks Koepka was the most dominant golfer at this year's golf majors Just minutes later, his birdie putt hung on the lip of the cup before falling in. His tee shot, for starters, hit a tree and bounced back onto the fairway.

Army gets its way on attack helicopters Army gets its way on attack helicopters The army is set to get its own attack helicopters for the first time, ending an air force monopoly after a prolonged turf battle. Besides, Apache, DAC also cleared a proposal to procure two gas turbine engines for naval ships at a cost of Rs 490 crore.

Bonnie Tyler to perform 'Total Eclipse' during total eclipse Bonnie Tyler to perform 'Total Eclipse' during total eclipse If you don't want to do the math, that means the last time the moon passed between the sun and Earth was in 1979 . Bonnie Tyler and her cruising eclipse-mates will not be in darkness for very long. "And I got it".

The far right is planning 9 rallies nationwide this weekend alone The far right is planning 9 rallies nationwide this weekend alone There was a clear divide amongst the meetings' attendees about what actions should be taken. Damore stated he will "likely not" participate and that he doesn't support the alt-right.

Matt Cullen going to Wild on one-year contract Matt Cullen going to Wild on one-year contract He returns to Minnesota, a place he spent three seasons in from 2010-13, helping the Wild make the playoffs in the spring of 2013. Matt Cullen could have retired a back-to-back champ or re-signed in Pittsburgh for a chance to three-peat.

Kepler's homer sparks Twins in DH split with Indians Kepler's homer sparks Twins in DH split with Indians Ramirez was hit in the right forearm by a 93.1 miles per hour pitch from Kyle Gibson in the top of the second inning. Gomes provided a big insurance blast with a three-run homer in the eighth after the Twins closed within a run.

PM Modi vows to fight terrorism, corruption PM Modi vows to fight terrorism, corruption He said that 9 crore farmers have been given Mudra Cards while 2.5 crore households have been provided subsidised LPG connections. Rahul Gandhi also hit out at Narendra Modi's foreign policy which he said had alienated neighbouring countries.

Friends and colleagues grace special screening of Bareilly Ki Barfi Friends and colleagues grace special screening of Bareilly Ki Barfi At the same time, Bitti falls in love with Chirag after she reads one of his books and decides to write him letters to seek help. The film appears to be very relatable right from its trailer, it's nothing but good content from the scratch.