Mumbai: The largest private sector bank in the country, HDFC Bank hiked its retail fixed deposit rates. The rates were increased by 40-75 basis points (bps) for fixed deposits less than Rs 2 crore. The lender took this decision to attract more deposits.
After the hike, the general customers will get an interest rate of 7% on deposits maturing in 15 months to less than 18 months, 18 months to less than 21 months, 21 months to less than 10 years.
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New rates:
7 – 14 days 3.00%
15 – 29 days 3.00%
30 – 45 days 3.50%
46 – 60 days 4.50%
61 – 89 days 4.50%
90 days < = 6 months 4.50%
6 months 1 days <= 9 months 5.75%
9 months 1 day to < 1 year 6.00%
1 year to < 15 months 6.50%
15 months to < 18 months 7.00%
18 months to < 21 months 7.00%
21 months – 2 years 7.00%
2 years 1 day – 3 years 7.00%
3 year 1 day to – 5 years 7.00%
5 year 1 day – 10 years 7.00%
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