The HDFC Systematic Savings Plan will be available from Wednesday for customers in select cities. The customers can deposit a fixed monthly installment - in the range of Rs. 2,000 to Rs.50,000 every month and can choose any period between 24 and 60 months.
The rate of interest, which is linked to the benchmark rate, will be reset at the beginning of each calendar quarter, HDFC said. Linking deposit rates to the benchmark rate means that customers would get the benefit of higher rate when the interest rate increases.
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