term deposit interest rates in hdfc bank

'We know rate changes impact customers and their household budgets differently,' she said. ANZ BankĪNZ was hot on the heels of NAB, announcing it will pass the rate increase on to customers.įor mortgage holders: Variable interest rates across home loan products will increase by 0.25 per cent per annum, effective from November 17, 2023.įor savings accounts: The ANZ Plus Save account interest rate will increase to 4.90 per cent per annum on balances less than $250,000.īalances of more than $250,000 will increase to 3.75 per cent per annum.Īll the above changes to savings products will take effect starting from November 16, 2023.ĪNZ group executive Australia Retail Maile Carnegie said she understood that interest rate increases put more pressure on household budgets. 'While most of our customers are in good shape, there may be some people who are more concerned about the first rate rise since mid-year which is why it's crucial to reach out to your bank as soon as you can,' says NAB group executive, Personal Banking, Rachel Slade. NAB was the first of the big four banks to respond.įor mortgage holders: The standard variable home loan interest rate will increase by 0.25 per cent per annum, effective from November 17, 2023.įor savings accounts: The NAB Reward Saver bonus interest rate will increase to 5 per cent per annum, effective from November 17, 2023. We'll be updating this story as information comes through, so check back later if you don't see any information about the bank you're after. Here's a breakdown of how the banks have responded to the decision. That means the RBA's cash rate target is now 4.35 per cent.

The Reserve Bank of Australia (RBA) hiked the cash rate by 0.25 percentage points after the monthly meeting on Tuesday.

Term deposit interest rates in hdfc bank