Key Points
Customers of HDFC, whether borrowers or depositors, will witness certain changes after the merger...
The interest rates of fixed deposits (FDs) in HDFC Bank have typically been lower than those offered by HDFC, a housing finance company..
In HDFC Bank, the interest rates of retail fixed deposits range from 3 per cent to 7.5 per cent whereas you can go for any tenure of choice...
However, HDFC Bank offers an additional interest rate of 0.50 per cent on fixed deposits by senior citizens..
The merged entity, which will be known as HDFC Bank, is likely to offer the depositors of the housing finance company an option to either withdraw their money or renew deposits with the private sector bank at the interest rate being offered by it..
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