HDFC Bank said that the revised fixed deposit interest rates are applicable from February 14.
New Delhi: HDFC Bank has increased interest rates the private lender offers to customers of fixed deposits. However, according to the information of the official website, the interest rates on fixed deposits on select tenures have been revised.
HDFC Bank said that the revised fixed deposit interest rates are applicable from February 14. The interest rates have been increased by 5-10 basis points on fixed deposits worth less than Rs 2 crore.
HDFC Bank has increased the interest rate on deposits with a term of one to two years to 5%. On the other hand, the interest rate on fixed deposits with a maturity period of two to three years in increased to 5.20%.
Also, the interest rate on deposits with a term period ranging from three to five years has been increased by 5 basis points to 5.45%. Moreover, the FD rate on fixed deposits maturing in a period of five to 10 years has been increased to 5.60%.
The rates mentioned above are for regular customers. Senior citizen customers will continue to get a 0.50% or 50 basis points more interest rate on fixed deposit investments across all tenures.
Prior to HDFC Bank, several other private and public sector banks have increased the interest rates on fixed deposit schemes. For instance, the Central Bank of India and UCO Bank revised the interest rates effective from February 10, 2022.
Moreover, last month, HDFC Bank also revised the Domestic/NRO and NRE Non-withdrawable Fixed Deposit rates greater than or equal to 5 Crore with effect from 05 January 2021.
