New Delhi. India’s largest private bank HDFC Bank (HDFC Bank) has increased its interest rates on bulk fixed deposits (bulk FD rates) from Rs 2 crore to Rs 5 crore. After increasing the repo rate of RBI by 25 basis points.
HDFC Bank is now giving interest at the rate of 4.75% to 7.00% to common citizens and 5.25% to 7.75% to senior citizens on deposits ranging from 7 days to 10 years. According to the official website of HDFC Bank, the latest FD rates are effective till February 17, 2023.
Let us tell you that RBI has increased the repo rate by 25 basis points after the monetary review meeting. Repo rate increased from 6.25 percent to 6.50 percent. The repo rate has been increased for the sixth time in a row. After this increase, the repo rate has reached 6.5 percent.
HDFC Bank bulk fd rate
The bank is now offering an interest rate of 4.75% on wholesale fixed deposits maturing in 7 to 29 days, while HDFC Bank is now offering an interest rate of 5.50% on wholesale fixed deposits maturing in 30 to 45 days . Currently, HDFC Bank is offering an interest rate of 5.75% for deposits for 46 to 60 days and 6.00% for deposits for 61 to 89 days.
Deposits maturing in 90 days to 6 months now fetch 6.50% interest, while deposits maturing in 6 months 1 day to 9 months now fetch 6.65% interest. On Wholesale Fixed Deposits maturing in 9 months 1 day to 1 year, the bank is offering an interest rate of 6.75% and on those maturing in 1 year to 15 months, HDFC Bank will now offer an interest rate of 7.00%.
HDFC Bank will offer an interest rate of 7.15% on deposits of 15 months to 2 years and 7.00% on deposits of 2 years 1 day to 10 years.
Know how much interest senior citizens will get
Senior citizens will get an additional interest rate of 0.50% over and above the regular rates on HDFC Bank Bulk Fixed Deposits maturing in 7 days to 5 years. Only senior citizens and retired employees who are Indian residents and at least 60 years old are eligible for the additional interest rate benefit.
