HDFC Bank has increased the interest rates of its Fixed Deposit Scheme. The bank is offering interest at the rate of 4.50 per cent to 7 per cent on maturity buckets ranging from 7 days to 10 years to the general public.
HDFC Bank, one of the largest private sector banks, has given a gift to its customers. The bank has increased the interest rates on bulk fixed deposits of Rs 2 crore to Rs 5 crore. The bank is offering interest at the rate of 4.50 per cent to 7 per cent on maturity buckets ranging from 7 days to 10 years to the general public. At the same time, the bank is offering interest ranging from 5 percent to 7.75 percent to senior citizens. The bank has increased the interest rates of fixed deposits of different duration.
New rates have become effective
After the change in interest rates, the bank is offering interest at a maximum rate of 7.15 percent to the general public on fixed deposits maturing in 15 months to two years. At the same time, the bank is offering interest at the maximum rate of 7.75 per cent to senior citizens on fixed deposits maturing in 5 years, 1 day to 10 years. HDFC Bank’s new interest rates have become effective from 27 January 2023.
Interest rates on deposits
The bank is paying interest at the rate of 4.50 per cent on deposits maturing in 7 to 29 days. HDFC Bank is offering an interest rate of 5.25 per cent on deposits maturing in the next 30 to 45 days. On deposits of 46 to 60 days, the bank is offering interest at the rate of 5.50 percent. At the same time, interest will be available at the rate of 5.75 percent on deposits of 61 to 89 days.
Interest on FD of more than 1 year
Fixed deposits maturing in 90 days to 6 months will earn interest at the rate of 6.25 per cent. While HDFC Bank is now offering interest at the rate of 6.50 per cent on deposits maturing in 6 months and 1 day to 9 months. According to HDFC Bank, the bank will now get 6.65 per cent interest on FDs maturing in 9 months 1 day to 1 year and 7 per cent interest on deposits maturing in one year to 15 months.
Interest rate for senior citizens
Deposits of 15 months to two years will now get interest at the rate of 7.15 per cent. While the bank is now offering an interest rate of 7 per cent on deposits ranging from two years and one day to 10 years. However, under HDFC Bank’s Senior Citizen Care FD program, senior citizens will get an additional premium of 0.25% over and above the regular premium of 0.50% on deposits of 5 to 10 years.
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