HDFC Bank raises FD rates to 7.30% on 1.5 to 2-year terms
HDFC Bank lowered interest rates on fixed deposits over 2 Cr to less than 5 Cr. The new rates are effective today, 18 November 2022, according to the bank’s website. Domestic/NRO/NRE deposits have new rates. The bank now offers 3.75 to 6.25 percent for the general public and 4.25 to 7 percent for seniors on 7- to 10-year deposits.
HDFC FD Rates
The bank offers 3.75% interest on 7-29 day fixed deposits and 4.75% on 30-45 day deposits. HDFC Bank’s FD interest rates are now 5.00% for 46 to 60 days and 5.25% for 61 to 89 days. Deposits maturing in 90 days to 6 months will pay 5.50% interest, while those maturing in 6 months 1 day to 9 months would earn 5.75%.
HDFC Bank now offers 6.00% interest on FDs maturing in 9 months 1 day to 1 Year and 6.50% on those maturing in 1 Year to 15 Months. HDFC Bank is offering 6.80% on FDs maturing in 15 months to 2 years and 6.50% on those maturing in 2 years 1 day to 3 years. 3,1-day-to-10-year deposits currently earn 6.25 percent.
Only residents 60 and older are eligible for the higher interest rates. Special interest rates for Senior Citizen Care FDs apply to deposits between 2 crore and 5 crore. HDFC Bank’s website states, “An Additional Premium of 0.25% (over and above the existing premium of 0.50%) shall be given to Senior Citizens who wish to book the Fixed Deposit less than 5 crores for a tenure of 5 (five) years One Day to 10 Years, during special deposit offer commencing from 18th May’20 to 31st Mar’2023. This offer applies to new and renewed Fixed Deposits by Senior Citizens throughout the above timeframe. Non-Resident Indians are not eligible.
On fixed deposits of more than 2 Cr to less than 5 Cr maturing in 7 days to 5 years, senior citizens will get an additional rate benefit of 50 bps. The current interest rate band ranges from 4.25% to 6.75%. On deposits maturing in 5 years 1 day to 10 years, Senior Citizen Care FD rates will be applicable, which are 75 bps higher than the standard rate. On the said specific tenor, the bank offers 7.00% interest rate to senior citizens compared to the
