HDFC Bank hikes interest rates on fixed deposits:
For fixed deposits below ₹2 crore, the private sector lender HDFC Bank has increased interest rates.
The new rates will take effect on August 18, 2022, according to the bank's official website.
The bank will still give a 2.75% interest rate on fixed deposits maturing in 7 to 29 days
HDFC Bank will still offer a 3.25% interest rate on term deposits maturing in 30 to 89 days.
HDFC Bank increased the interest rate by 15 basis points, from 5.35% to 5.50%, and on fixed deposits that mature in one year,
one day, to two years, the interest rate has been increased by 15 basis points to 5.50%.
The bank will continue to give an interest rate of 5.50% on fixed deposits maturing in 2 years
For 3 years, and it has increased the interest rate by 40 basis points from 5.70% to 6.10% on fixed deposits maturing in 3 years, 1 day, to 5 years.
The interest rate on fixed deposits from HDFC Bank will remain constant at 5.75% for maturities between 5 years and 10 years.
On fixed deposits maturing in 3 years and 5 years Bank is now offering the highest interest rate of 6.10% for the general public and 6.60% for senior citizens.
Senior citizens will continue to get an additional interest rate of 0.50% over the standard rate
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 years
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