HDFC Platinum deposits

You would have seen a lot of advertisements in the news as wells as in the papers of banks who have increased the deposit rates all across.

This is a clear indication of two things.

1. The rising interest rate regime that the Reserve Bank of India has started out on to reign in inflation.
2. The need of banks to get money for them to be able to loan them out at a higher interest rate.

Due to this, there are a lot of good companies giving a higher deposit rates to their customers- one example being HDFC- the housing loans company.

One can see the importance of companies trying to garner money- because there are special deposits that have come out. HDFC is giving a cumulative option of 9.05% for a period of 22 months/ 33 months.

To me this is a great offer. HDFC is a great company and a 9% compounded return is much much better than investing in a fixed deposit from HDFC bank because i get a 0.25% extra.

Nurture relationships so that you get additional benefits.

Happy Investing