HDFC Bank Hikes Fixed Deposit Interest Rates: India’s largest private sector lender HDFC Bank has again increased its fixed deposit interest rates, within one week of doing the same. The HDFC Bank FD rate hike is applicable on deposits less than Rs 2 crore. The new HDFC Bank fixed deposit interest rates have already come into effect, according to the lender’s website. This has been implemented across different tenors. Senior citizens will get extra interest on HDFC Bank fixed deposits.
The HDFC Bank FD interest rates have come into effect from June 17, Friday. This comes as a direct result of the RBI hiking its repo rates by 50 basis points. After the latest hike by the lender, HDFC Bank FD rates have increased from 2.50 per cent to 2.75 per cent for tenures between 7 to 29 days, which is a 25 basis points increase. The lender hiked the interest rate on fixed deposits maturing between 30 to 90 days by 25 basis points, from 3 per cent to 3.25 per cent now. For deposits maturing between 91 days to 6 months, a hike of 25 basis points have moved the interest rates from 3.25 per cent to 3.75 per cent. Deposits maturing in other tenures too have seen a hike of 10 to 25 basis points, HDFC Bank said on its website.
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“Only Senior Citizens / Retired Personnel (60 years and above) who are Resident Indians are eligible. The special rates are applicable only for Resident deposits,” the HDFC Bank said on its website. The HDFC Bank FD interest rate hike is only applicable to domestic / NRO / NRE accounts, the bank said further on its website.
Here are the revised interest rates on fixed deposits below Rs 2 crore at the HDFC Bank from June 17, 2022:7 days to 14 days: For General Public – 2.75 per cent; For Senior Citizens – 3.25 per cent
15 days to 29 days: For General Public – 2.75 per cent; For Senior Citizens – 3.25 per cent
30 days to 45 days: For General Public – 3.25 per cent; For Senior Citizens – 3.75 per cent
46 days to 60 days: For General Public – 3.25 per cent; For Senior Citizens – 3.75 per cent
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61 days to 90 days: For General Public – 3.25 per cent; For Senior Citizens – 3.75 per cent
91 days to 120 days: For General Public – 3.75 per cent; For Senior Citizens – 4.25 per cent
6 months 1 days to 9 months: For General Public – 4.65 per cent; For Senior Citizens – 5.15 per cent
9 months 1 day to less than a year: For General Public – 4.65 per cent; For Senior Citizens – 5.15 per cent
1 year: For General Public – 5.35 per cent; For Senior Citizens – 5.85 per cent
1 year 1 day to 2 years: For General Public – 5.35 per cent; For Senior Citizens – 5.85 per cent
2 years 1 day to 3 years: For General Public – 5.50 per cent; For Senior Citizens – 6.00 per cent
3 years 1 day to 5 years: For General Public – 5.70 per cent; For Senior Citizens – 6.20 per cent
5 years 1 day to 10 years: For General Public – 5.75 per cent; For Senior Citizens – 6.50 per cent
