changes in premature withdrawal terms and conditions

Dear Customer,

Thank you for banking with HDFC Bank.

We wish to inform you about the upcoming changes in the terms and conditions regarding the premature withdrawal of Deposits, effective July 22^nd, 2023.

Existing Terms:

The applicable rate on premature withdrawal of all Deposits including Sweep-in/Partial Withdrawal, is currently, 1% less (penalty as applicable) of the lowest of the following:

       a. The rate for the original/contracted tenor for which the Deposit has been booked

       or

       b. The base rate* that applies to the tenor for which the deposit has been maintained with the bank. The applicable base rates are as follows: 

       i.  For deposits <5 Crore made on or after March 7th, 2019, the base rate (mentioned in point b above) will be the- rate used for Deposits less than 2 crore rupees at the time of Booking. 

       ii. For booking done before this date, the base rate applicable will be applicable to deposits <1 Crore.

      iii. For 5 Crore and above Deposits, the base rate is the rate applicable for 5 Crore deposits 

 Revised Terms:

With effect from July 22^nd, 2023, the interest rate applicable for premature withdrawal including Sweep-in/Partial Withdrawal will be 1% less (penalty as applicable) of the rate on the date of deposit booked, to the period for which deposit remained with the bank and not at the contracted rate.

To know more, please visit our website www.hdfcbank.com or contact your nearest HDFC Bank Branch or Relationship Manager.

Assuring you the best of our services.

Warm Regards,

HDFC Bank

Disclaimer: *The base rate applicable is the interest rate of the date of deposit acceptance under the tenor for which the deposit has been in force with the bank.