HDFC Bank | Apart from the country’s largest public sector bank SBI, the country’s largest private sector bank HDFC has also increased the rates of fixed deposits.
Explain that the interest rates given by the bank to the customers have been increased. This information was given by the bank. It was told that HDFC Bank has increased the interest rates by 5-10 basic points on FDs of less than Rs 2 crore.
This hike has come into effect from February 14. Earlier, the country’s largest public sector bank SBI had also increased the interest rates of fixed deposits of more than 2 years.
HDFC Bank offers its customers the facility of making fixed deposits for a period ranging from 7 days to 10 years. In addition, HDFC Bank also gives additional interest on FDs to senior citizens.
HDFC Bank now offers interest ranging from 2.50% to 5.60% on deposits maturing between 7 days to 10 years.
Tenure Interest Rate Senior Citizen Interest
- 7-14 days 2.50% 3.00%
- 15-29 days 2.50% 3.00%
- 30-45 days 3.00% 3.50%
- 46-60 days 3.00% 3.50%
- 61-90 days 3.00% 3.50%
- 91 days to 6 months 3.50% 4.00%
- 6 Months 1 Day – 9 Months 4.40% 4.90%
- 9 Months 1 Day – Less than 1 Year 4.40% 4.90%
- 1 year 5. 0% 5.50%
- 1 year 1 day – 2 years 5.00% 5.50%
- 2 years 1 day – 3 years 5.20% 5.70%
- 3 years 1 day – 5 years 5.45% 5.90%
- 5 years 1 day – 10 years 5.60% 6.35%
SBI’s new interest rates on FD
SBI also gives interest at the rate of 2.9% to 5.5% to normal customers on FDs between 7 days to 10 years.
On the other hand, senior citizens are given 50 basis points more on these deposits. SBI’s increased interest rates have come into effect from February 15, 2022.
- 7 days to 45 days – 2.9%
- 46 days to 179 days – 3.9%
- 180 days to 210 days – 4.4%
- 211 days to less than 1 year – 4.4%
- 1 year to less than 2 years – 5.1%
- 2 years to less than 3 years – 5.2%
- 3 years to less than 5 years – 5.45%
- 5 years and up to 10 years – 5.5%
