Private sector bank hikes fixed deposit interest rates

Mumbai: HDFC Bank has hiked interest rates on fixed deposits (FDs). This  is the second hike on term deposits by the leading private sector lender this month. These rates are applicable for deposit amounts less than Rs2 crore. HDFC Bank has hiked FD interest rates by up to 50 basis points (bps).

Now,  HDFC Bank is offering an interest rate ranging from 3% to 6.25% on deposits maturing in 7 days to 10 years to general customers. Senior citizens will receive an additional interest rate of 50 bps over and above those offered to general customers.

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New rates:

7 – 14 days 3.00%

15 – 29 days 3.00%

30 – 45 days 3.50%

46 – 60 days 4.00%

61 – 89 days 4.50%

90 days < = 6 months 4.50%

6 months 1 days <= 9 months 5.25%

9 months 1 day to < 1 Year 5.50%

1 Year to 15 months 6.10%

15 months to < 18 months 6.15%

18 months to < 21 months 6.15%

21 months to 2 years 6.15%

2 years 1 day – 3 years 6.25%

3 Year 1 day to 5 years 6.25%

5 Year 1 day to 10 years 6.20%