HDFC Bank hikes fixed deposit interest rates: HDFC Bank, India’s largest private sector lender, has become the latest lender to hike fixed deposit interest rates for its customers. HDFC Bank FD rate hike This comes at a time when several lenders are making similar hikes after the Reserve Bank of India’s repo rate revision. HDFC bank fixed deposit interest rate The hike has been implemented in different periods. New rates will be applicable for Fixed deposit These have become effective from Wednesday, June 15, less than Rs 2 crore. This comes as a direct result of the 50 basis points hike in repo rates by the RBI.
HDFC Bank’s new FD interest rate hike ranges between 15 and 25 basis points, depending on the tenor, with an additional 0.50 per cent continuing return to senior citizens. “Only Senior Citizens/Retired Personnel (60 years and above) who are resident Indians are eligible. The special rates are applicable for resident deposits only,” HDFC Bank said on its website. HDFC Bank FD interest rate hike is applicable only on domestic/NRO/NRE accounts, the bank further said on its website.
HDFC Bank FD interest rates for tenures from six months to less than nine months have been increased by 25 basis points from 4.40 per cent to 4.65 per cent. For deposits from nine months to less than one year, the HDFC Bank FD rate has been increased to 4.65 per cent from 4.50 per cent earlier – an increase of 15 basis points. On FDs of one year to two years in the bank, the interest of 5.35 percent will be available instead of 5.10 percent earlier. Other rates have been kept unchanged.
The revised interest rates on fixed deposits of less than Rs 2 crore in HDFC Bank with effect from June 15, 2022 are as follows:
7 days to 14 days: for general public – 2.50 percent; For senior citizens – 3.00 percent
15 days to 29 days: for general public – 2.50 percent; For senior citizens – 3.00 percent
30 days to 45 days: for general public – 3.00 percent; For senior citizens – 3.50 percent
46 days to 60 days: for general public – 3.00 percent; For senior citizens – 3.50 percent
61 days to 90 days: for general public – 3.00 percent; For senior citizens – 3.50 percent
91 days to 120 days: for general public – 3.50 percent; For Senior Citizens – 4.00 percent
6 months 1 day to 9 months: for general public – 4.65 percent; For senior citizens – 5.15 percent
From 9 months 1 day to less than a year: for general public – 4.65 percent; For senior citizens – 5.15 percent
1 year: for general public – 5.10 percent; For senior citizens – 5.60 percent
1 year 1 day to 2 years: for general public – 5.35 percent; For senior citizens – 5.85 percent
2 years 1 day to 3 years: for general public – 5.40 percent; For senior citizens – 5.90 percent
3 years 1 day to 5 years: for general public – 5.60 percent; For senior citizens – 6.10 percent
5 years 1 day to 10 years: for the general public – 5.75 percent; For senior citizens – 6.50 percent
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