HDFC, HDFC Bank cut deposit rate by upto 0.25 pc

Mumbai, Jun 18: HDFC, India's major home loan financier has reduced its deposit rates by upto 0.25 pc across various maturities with immediate effect. Meanwhile, India's second largest private sector lender, HDFC Bank has also reduced its deposit rates by upto 0.25 pc.

Paresh Sukthankar, the HDFC Bank Executive Director said, "The reduction will be effective from Friday, Jun 19. This reduction is in line with the market trends and taking into account the developments happening in the market in the recent past," he added.

Earlier India's largest bank, SBI and second largest lender ICICI Bank too had reduced their deposit rates.

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