HDFC Bank

Hdfc Bank Net Profit Rises 18 Pc To Rs 10342 Crore In Q3 Big Change In Fd Rates – Hdfc Bank Q3 Results


Business Desk, Amar Ujala, New Delhi(*18*)

Published by: Deepak Chaturvedi(*18*)
Updated Sat, 15 Jan 2022 04:28 PM IST

Summary

HDFC Bank Change In FD Rates: On Saturday, the nation’s main financial institution HDFC introduced its October-December quarter outcomes. According to this, the financial institution’s web revenue has elevated by 18 p.c to Rs 10,342.2 crore within the final quarter. The financial institution has additionally determined to extend the rates of interest of FDs. HDFC Bank has introduced a rise within the rates of interest on FDs for choose tenors.

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On Saturday, the nation’s main financial institution HDFC introduced its October-December quarter outcomes. According to this, the financial institution’s web revenue has elevated by 18 p.c to Rs 10,342.2 crore within the final quarter.

The financial institution’s revenue has been supported by robust development in web income. Net curiosity revenue for the quarter jumped 13 per cent to Rs 18,443.5 crore from Rs 16,317.6 crore a 12 months in the past. The financial institution’s outcomes have been largely in keeping with market expectations. Its web revenue development was pegged at 12 to 18 per cent yearly and web curiosity revenue development at 11 to 17 per cent. Other revenue or non-curiosity revenue stood at Rs 8,183.6 crore, a rise of practically 10 per cent from Rs 7,443.2 crore within the 12 months-in the past interval.

Along with saying the outcomes of October-December quarter, the financial institution has made one other massive announcement. Actually, the financial institution has determined to extend the rates of interest of FD. HDFC Bank has introduced a rise within the rates of interest on FDs for choose tenors. The new rates of interest mounted by the financial institution will probably be deemed to be efficient from January 12, 2021. According to the financial institution’s web site, rates of interest on FDs beneath Rs 2 crore have been elevated by 5 to 10 foundation factors. Now FDs between 2 years 1 day and three years will get 5.2 per cent, 3 years 1 day and 5 years 5.4 per cent and 5 years 1 day and 10 years will get 5.6 per cent curiosity.

Scope

On Saturday, the nation’s main financial institution HDFC introduced its October-December quarter outcomes. According to this, the financial institution’s web revenue has elevated by 18 p.c to Rs 10,342.2 crore within the final quarter.

The financial institution’s revenue has been supported by robust development in web income. Net curiosity revenue for the quarter jumped 13 per cent to Rs 18,443.5 crore from Rs 16,317.6 crore a 12 months in the past. The financial institution’s outcomes have been largely in keeping with market expectations. Its web revenue development was pegged at 12 to 18 per cent yearly and web curiosity revenue development at 11 to 17 per cent. Other revenue or non-curiosity revenue stood at Rs 8,183.6 crore, a rise of practically 10 per cent from Rs 7,443.2 crore within the 12 months-in the past interval.

Along with saying the outcomes of October-December quarter, the financial institution has made one other massive announcement. Actually, the financial institution has determined to extend the rates of interest of FD. HDFC Bank has introduced a rise within the rates of interest on FDs for choose tenors. The new rates of interest mounted by the financial institution will probably be deemed to be efficient from January 12, 2021. According to the financial institution’s web site, rates of interest on FDs beneath Rs 2 crore have been elevated by 5 to 10 foundation factors. Now FDs between 2 years 1 day and three years will get 5.2 per cent, 3 years 1 day and 5 years 5.4 per cent and 5 years 1 day and 10 years will get 5.6 per cent curiosity.

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