HDFC Bank has increased the interest rate on Fixed Deposits (FDs). This is the second increase in term deposits this month announced by the lender. These rates apply to deposits of less than Rs 2 crore.
HDFC Bank has increased its fixed deposit interest rates by up to 50 basis points (bps). Following the increase, HDFC Bank is now giving ordinary customers an interest rate ranging from 3 per cent to 6.25 per cent on deposits maturing in 7 days to 10 years.
Senior people will receive a 50 basis point interest rate increase over those offered to ordinary customers. Following today’s increase, elderly residents will get interest rates ranging from 3.5 per cent to 6.95 per cent on FDs with terms ranging from 7 days to 10 years.
FD Raise details:
7 – 14 days 3.00 per cent
15 – 29 days 3.00 per cent
30 – 45 days 3.50 per cent
46 – 60 days 4.00 per cent
61 – 89 days 4.50 per cent
90 days < = 6 months 4.50 per cent
6 months 1 days <= 9 months 5.25 per cent
9 months 1 day to < 1 Year 5.50 per cent
1 Year to 15 months 6.10 per cent
15 months to < 18 months 6.15 per cent
18months to < 21months 6.15 per cent
21 months to 2 years 6.15 per cent
2 years 1 day – 3 years 6.25 per cent
3 Year 1day to 5 years 6.25 per cent
5 Year 1 day to 10 years 6.20 per cent
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Starting today, HDFC Bank has also updated its interest rates on recurring deposits (26 October). For the general public, the bank will now provide 4.50 per cent to 6.25 per cent interest rates on Recurring Deposits (RDs) with terms ranging from 6 months to 120 months.
