Raising for the second time this month, India’s largest lender HDFC Bank has hiked the interest rates on fixed deposits (FDs) below Rs 2 crore. The bank has hiked the interest rates by up to 50 basis points (bps). On fixed deposits maturing in 61 days to 89 months, the latest interest rate is 4.50 per cent, compared with 4 per cent earlier.
On a tenure of 90 days to 6 months, the latest interest rate will be 4.50 per cent, 25 basis points up as compared with 4.25 per cent earlier.
Deposits with tenure of two years, one day to five years will now get 6.25 per cent. HDFC Bank has increased interest rate by 20 bps on FD between five and 10 years to 6.20 per cent, from 6 per cent earlier.
Here are the revised interest rates on fixed deposits below Rs 2 crore at HDFC Bank (per annum), effective from October 26:
7 days to 14 days: For General Public – 3.00 per cent; For Senior Citizens – 3.50 per cent
15 days to 29 days: For General Public – 3.00 per cent; For Senior Citizens – 3.50 per cent
30 days to 45 days: For General Public – 3.50 per cent; For Senior Citizens – 4.00 per cent
46 days to 60 days: For General Public – 4.00 per cent; For Senior Citizens – 4.50 per cent
61 days to 89 months: For General Public – 4.50 per cent; For Senior Citizens – 5.00 per cent
90 days to 6 months: For General Public – 4.50 per cent; For Senior Citizens – 5.00 per cent
6 months 1 days to 9 months: For General Public – 5.25 per cent; For Senior Citizens – 5.75 per cent
9 months 1 day to less than 1 year: For General Public – 5.50 per cent; For Senior Citizens – 6.00 per cent
1 year to 15 months: For General Public – 6.10 per cent; For Senior Citizens – 6.60 per cent
15 months to less than 18 months: For General Public – 6.15 per cent; For Senior Citizens – 6.65 per cent
18 months to 2 years: For General Public – 6.15 per cent; For Senior Citizens – 6.50 per cent
2 Years 1 day to 3 Years: For General Public – 6.25 per cent; For Senior Citizens – 6.75 per cent
3 years 1 day to 5 years: For General Public – 6.25 per cent; For Senior Citizens – 6.75 per cent
5 years 1 day to 10 years: For General Public – 6.20 per cent; For Senior Citizens – 6.95 per cent.
“An Additional Premium of 0.25% (over and above the existing premium of 0.50%) shall be given to Senior Citizens who wish to book the Fixed Deposit less than 5 crores for a tenure of 5 (five) years One Day to 10 Years, during special deposit offer commencing from 18th May’20 to 31st Mar’2023. This special offer will be applicable to new Fixed Deposit booked as well as for the Renewals, by Senior Citizens during the above period. This offer is not applicable to Non-Resident Indian,” according to HDFC Bank’s website.
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