Mumbai: Leading private sector bank in the country, HDFC Bank has hiked its interest rates on bulk fixed deposits (FDs). The lender hiked the interest rates on FDs of more than Rs 2 crore to less than Rs 5 crores. After the revision, the bank is now offering interest rates ranging from 4.50% to 7.00% for the general public and 5.00% to 7.75% for senior citizens on deposits maturing in 7 days to 10 years.
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The bank now offers an interest rate of 4.50% on deposits that mature in the next 7 to 29 days, while HDFC Bank now offers an interest rate of 5.25% on deposits that mature in the next 30 to 45 days. A deposit tenor of 46 to 60 days will now earn interest at a rate of 5.50%, while a deposit tenor of 61 to 89 days will earn interest at a rate of 5.75%.Deposits with maturities between 90 days and 6 months will now earn interest at a rate of 6.25%, while those with maturities between 6 months and 9 months will now earn interest at a rate of 6.50%. The bank is currently giving an interest rate of 6.65% on deposits maturing in 9 months, 1 day to 1 year, and 6.75% on deposits maturing in 1 year to 15 months.
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