The HDFC Bank fixed deposit interest rate hike has been implemented across different tenors, and will come into effect from May 18, Wednesday
HDFC Bank Hikes Fixed Deposit Interest Rates: HDFC Bank, India’s biggest private sector lender, is the latest to jump into the bandwagon of other banks hiking their fixed deposit interest rates.
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.
The HDFC Bank FD interest rate hike comes two weeks after the Reserve Bank of India increased its repo rates by 40 basis points to tackle inflation rates.
The new rates have come into effect for HDFC Bank FDs with tenors of over nine months. The new HDFC Bank FD interest rate hike ranges from 10 to 20 basis points, depending upon the tenor, with senior citizens getting returns of 0.50 per cent extra.
The HDFC Bank Fixed Deposit interest rate hike has come into effect from May 18, 2022 and are applicable for deposits below Rs 2 crore, the bank has said on its website.
