HDFC Bank Hikes Fixed Deposit Interest Rates: HDFC Bank, India’s biggest private sector lender, has become the latest lender to hike the fixed deposit interest rates for its customers. The HDFC Bank FD rate hike comes at a time when several lenders are hiking the same following the Reserve Bank of India’s repo rate revision. The HDFC Bank fixed deposit interest rate hike has been implemented across different tenors. The new rates will be applicable for fixed deposits below Rs 2 crore. They have come into effect from June 15, Wednesday. This comes as a direct result of the RBI hiking its repo rates by 50 basis points.
The new HDFC Bank FD interest rate hike ranges from 15 to 25 basis points, depending upon the tenor, with senior citizens continuing to returns of 0.50 per cent extra. “Only Senior Citizens / Retired Personnel (60 years and above) who are Resident Indians are eligible. The special rates are applicable only for Resident deposits,” the HDFC Bank said on its website. The HDFC Bank FD interest rate hike is only applicable to domestic / NRO / NRE accounts, the bank said further on its website.
HDFC Bank FD interest rates for tenors of six months to less than nine months has been hiked by 25 basis points from 4.40 per cent to 4.65 per cent. For deposits between nine months to less than one year, HDFC Bank FD rate has been hiked to 4.65 per cent, up from the earlier 4.50 per cent — which is an increase of 15 basis points. One year to two years FDs at the bank will earn an interest of 5.35 per cent, instead of 5.10 per cent earlier. The other rates have been kept unchanged.
Here are the revised interest rates on fixed deposits below Rs 2 crore at the HDFC Bank from June 15, 2022:
15 days to 29 days: For General Public – 2.50 per cent; For Senior Citizens – 3.00 per cent
30 days to 45 days: For General Public – 3.00 per cent; For Senior Citizens – 3.50 per cent
46 days to 60 days: For General Public – 3.00 per cent; For Senior Citizens – 3.50 per cent
61 days to 90 days: For General Public – 3.00 per cent; For Senior Citizens – 3.50 per cent
91 days to 120 days: For General Public – 3.50 per cent; For Senior Citizens – 4.00 per cent
6 months 1 days to 9 months: For General Public – 4.65 per cent; For Senior Citizens – 5.15 per cent
9 months 1 day to less than a year: For General Public – 4.65 per cent; For Senior Citizens – 5.15 per cent
1 year: For General Public – 5.10 per cent; For Senior Citizens – 5.60 per cent
1 year 1 day to 2 years: For General Public – 5.35 per cent; For Senior Citizens – 5.85 per cent
2 years 1 day to 3 years: For General Public – 5.40 per cent; For Senior Citizens – 5.90 per cent
3 years 1 day to 5 years: For General Public – 5.60 per cent; For Senior Citizens – 6.10 per cent
5 years 1 day to 10 years: For General Public – 5.75 per cent; For Senior Citizens – 6.50 per cent
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