HDFC has revised deposit interest rates with effect from 3rd May 2012.
HDFC has reduced deposit rates from 10% to 9.75% for general public for their platinum deposits,cumulative option.
Revised Platinum Deposit Rates:
| Deposit Period | Monthly Income Plan | Quarterly Income Plan | Half-Yearly Income Plan | Annual Income Plan | Cumulative |
| 15 Months | 9.4 | 9.45 | 9.55 | NA | 9.75 |
| 33 Months | 9.4 | 9.45 | 9.55 | 9.75 | 9.75 |
| Min.Deposit | 40,000/- | 20,000/- | 20,000/- | 20,000/- | 20,000/- |
All above rates on per annum basis.
Case Study For Deposit Of Rs. 1 lakh for 33 Months:
- Monthly Interest Income Plan: Apprx. Rs.783 for 33 months.
- Quarterly Interest Income Plan: Apprx Rs.2362/-
- Half-Yrarly Interest Income Plan : Apprx Rs. 4775/- .
- Annual Interest Income Plan:Rs.9,775/-.
- Maturity Amount of cumulative Option:Rs,1,29,155/-.
HDFC Regular Deposits:
| Period(Months) | Monthly Income | Quarterly Income | Half-Yrly Income | Annual Income | Cumulative |
| 12-23 | 8.9 | 8.95 | 9.05 | NA | 9.25 |
| 24-35 | 9.05 | 9.1 | 9.2 | 9.4 | 9.4 |
| 36-47 | 9.15 | 9.2 | 9.3 | 9.5 | 9.5 |
| 48-60 | 8.9 | 8.95 | 9.05 | 9.25 | 9.25 |
| Min Deposit | 40,000/- | 20,000/- | 20,000/- | 20,000/- | 20,000/- |
Notes:
- Interest rates are compounded annual basis.
- Senior citizens are eligible for extra rate of 0.25% above rates shown above.
- Above rates are applicable for deposits upto Rs. 1 crore.
Sir /Madam
nowhere you have mentioned as to how much you will deduct on maturity towards I T. Pl mention this also as no one may like to lose by paying I T
As similar to bank fixed deposits,interest income is added in total income of the investor.
As this is customized for individual investor,its not possible to show it in generalised way.
Information we want to provide was about and limited to the interest rate revisions..But you are true, I should have mention that returns are taxable.