You may break you FD and withdraw your money subject to minimum moratorium requirements.
However, in case of premature withdrawal, HDFC pays maximum interest of 4% on deposits kept for 3 to 6 months and 1% lower ROI on applicable rate for actual duration on deposits kept for more than 6 months.
Housing Development Finance Corporation Limited or HDFC Ltd was founded in October 17th 1977 as the first specialised mortgage company in India with its head office at Mumbai with an objective to enhance the residential housing stock in the country through the provision of Housing Finance in a systematic and professional manner, and to promote home ownership. HDFC was promoted by the Industrial Credit and Investment Corporation of India. The company got the certificated of commencement of business on 3rd December. HDFC provides housing finance in India. The corporation provides long term housing loans mainly to low and middle income individuals and corporate bodies. HDFC is a leading provider of Housing Finance in India.
The Company has a network of approximately 330 offices (which includes 83 offices of its wholly owned distribution company HDFC Sales Private Limited) catering to over 2,400 towns & cities spread across the country. It also has offices in Dubai, London and Singapore and service associates in the Middle East region, to provide housing loans and property advisory services to Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs).
Its product range includes loans for purchase and construction of a residential unit, home improvement loans, home extension loans, non-residential premises loans for professionals and loan against property etc. In 2012, HDFC Limited was recognised as one of India's 'Best Companies to work for' in a joint study conducted by The Economic Times and 'The Great Place to Work Institute'. In 2013, a survey on "India's Best Boards" listed HDFC's Board of Directors among the 5 best boards in India. The company have market capitalization of Rs. 206,783.13 crores. Company reported profit of Rs. 7,440.24 crores as on year ended 31st March 2014.
02nd Dec 16 ICICI Bank reduces its MCLR by 5 basis points
ICICI Bank has reduced its overnight and three months marginal cost of lending rate by 5 basis points to 8.70 and 8.80 percent respectively. ICICI Bank has also reduced its one year lending rate to 8.90 percent from 8.95 percent earlier. Revised rates are effective from 1st December, 2016.
02nd Dec 16 Kotak Mahindra Bank cuts MCLR up to 30 basis points
Kotak Mahindra Bank has reduced its six months and one year marginal cost of lending rate to 9.05 and 9.20 percent from 9.20 and 9.45 percent respectively. The bank has reduced its three year lending rate by 30 basis points to 9.25 percent from 9.55 percent earlier. Revised rates are effective from 1st December, 2016.
02nd Dec 16 Manappuram to launch Anytime Pawn Machines for instant gold loans
Manappuram Finance, leading gold loan company, has announced the launch of a new scheme to provide instant gold loans to customers. Under the scheme, company will install Anytime Pawn Machines nationwide. The machine will issue the new currency notes to customers in exchange of their gold and jewellery.
02nd Dec 16 Muthoot Finance to launch an instant gold loan scheme for customers
Muthoot Finance has announced the launch of an instant gold loan scheme for its customers. As a part of the scheme, Anytime Pawn Machines will be installed that will issue new currency notes to the customers in exchange of their gold jewellery. The machine will use laser technology to check the weight and purity of gold before issuing cash.
02nd Dec 16 Bajaj Finance to provide an attractive offer to personal loan buyers
Bajaj Finance, a lending arm of Bajaj Financial Services has announced an attractive offer to boost up the personal loan business. Under the offer, company will provide free airline vouchers of Rs. 12,000 to the customers availing personal loan. Personal loan buyers will also get an extra benefit of selecting the destination of their choice. The offer is valid from 28th November to 4th December, 2016.
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