Mumbai: Leading private sector bank in the country, HDFC Bank, has revised its interest rates on bulk fixed deposits (FDs). The lender has revised interest rates on bulk fixed deposits of Rs 3 crore to less than Rs 5 crore.
After the revision, India’s largest private sector lender, is currently offering interest rates that range from 4.75% to 7.40% for the general public and 5.25% to 7.90% for senior citizens on FD tenors of 7 days to 10 years.
The bank is now offering an interest rate of 4.75% on bulk deposits that mature in 7 to 29 days, and HDFC Bank is also promising an interest rate of 5.50% on those that mature in 30 to 45 days. Now, HDFC Bank is offering 5.75% interest on deposits made between 46 and 60 days and 6.00% on deposits between 61 and 89 days.
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An interest rate of 6.50% will be paid on deposits that mature in 90 days to 6 months, and 6.85% will be paid on deposits that mature in 6 months, 1 day to 9 months. For fixed deposits maturing in nine months, one day to one year, the bank will offer an interest rate of 6.75%, while HDFC Bank will offer an interest rate of 7.4% on deposits maturing in 1 year to 15 months. For deposits that mature between 15 months to two years, HDFC Bank will give an interest rate of 7.05%, and for deposits maturing in two years, one day to ten years, the interest rate will be 7.00%.
The bank last changed its interest rates on customer term deposits under Rs 3 Cr on July 24, 2024. With maturities ranging from seven days to ten years, HDFC Bank now provides interest rates between 3% and 7.00%.
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