Mumbai: Leading private sector bank in the country, HDFC Bank has revised the interest rate for fixed deposit (FD). The bank hiked interest rate for fixed deposit below Rs 2 crore.
HDFC Bank now offers interest rates from 3% to 7.25% for deposit ranges between 7 days to 10 years. The highest interest rate of 7.25% is available for tenures of 18 months to less than 21 months.
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Revised Interest Rates:
2 years 11 months to less than 3 years: Increased from 7% to 7.15%
2 years 1 day to less than 2 years 11 months: Increased from 7% to 7.15%
3 years 1 day to less than 4 years 7 months: Increased by 20 basis points to 7.20%
4 years 7 months 1 day to less than 5 years: Increased by 20 basis points to 7.20%
Senior citizens will also benefit from increased rates, with a premium of 0.50% over the standard rates. HDFC Bank has revised the interest rates for its recurring deposits for the period of 27 and 36 months, providing 7.15% interest for regular citizens and 7.65% for senior citizens. For durations of 39, 48, and 60 months, the bank offers 7.20% interest for regular citizens and 7.70% for senior citizens.
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