Actionable insights on equities, fixed-income, macros and personal finance Start 14-Days Free Trial
Actionable investing insights Get Free Trial

HDFC Bank Responds On Automatic Renewals

Reader Tushar writes in, on the “Banks Sucker You On Automatic Renewals” post. He took the trouble of writing to HDFC Bank (thanks!) and getting a response.

We wish to inform that a Fixed deposit is a contract between the Bank and the customer for a given term and at a given interest rate corresponding to the contracted term. Hence, on auto renewal, the term of the contract remains the same and the prevailing rate for that term is offered . . .

Like our content? Join Capitalmind Premium.

  • Equity, fixed income, macro and personal finance research
  • Model equity and fixed-income portfolios
  • Exclusive apps, tutorials, and member community
Subscribe Now Or start with a free-trial