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HDFC Bank increases NRE deposit rates

HDFC Bank has increased interest rate on its (Non-resident Indian External) NRE deposits, effective from July 1, 2007. Interest rate on NRE deposits for three to five years maturity will increase by 16 basis points to 5.45% against 5.29% earlier

Apnaloan.com Research Bureau

10 Aug 2007

HDFC Bank has increased interest rate on its (Non-resident Indian External) NRE deposits, effective from July 1, 2007. Interest rate on NRE deposits for three to five years' maturity will increase by 16 basis points to 5.45% against 5.29% earlier. For deposits of 2 to less than 3 year maturity, the increase is by 12 basis points to 5.43% as against 5.31% earlier.

HDFC Bank's rate of interest for deposits maturing between one and two years is up by 3 basis points to 5.42 per cent, as against 5.39 per cent earlier. The NRE deposit rates were last revised by HDFC Bank on June 1, 2007.