Mumbai: HDFC Bank has hiked its interest rates on fixed deposit (FD) by 5 to 10 basis points. The revised interest rates are applicable on fixed deposits worth less than Rs 2 crore, The new interest rate will be effective from January 12, 2022.
The interest rate of fixed deposits with a tenure between 2 years 1 day and 3 years will be 5.2% and fixed deposits with a tenure between 3 year 1 day and 5 years will be 5.4%. Fixed deposits with a tenure between 5 years 1 day and 10 years will be 5.6%.
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Earlier the State Bank of India (SBI) had hiked its interest rates on fixed deposit (FD) by up to 10 basis points or 0.10%. The new interest rate will be effective from January 15, 2022. Interest rate on fixed deposits for tenure 1 year to less than 2 years has been increased to 5.1% from 5.0%. For senior citizens the rate is increased from 5.50% to 5.60%. This interest rate is applicable on FDs below Rs 2 crore.
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