Cash flood: ICICI, HDFC Bank cut FD rates by 0.25%

  |   India News

Faced with liquidity comfort, major lenders, including ICICI and HDFC Bank, on Thursday lowered FD rates by up to 0.25 percent in view of the surge in deposits following demonetisation.

For fixed deposit between 390 days to 2 years, the bank has lowered the interest rate by 0.15 percent effective Wednesday, ICICI Bank website showed.

Meanwhile, HDFC Bank has reduced interest rate by 0.25 per cent across all tenures on bulk deposits ranging between Rs 1-5 crore.

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