HDFC Bank FD Interest Rate Hike: The bank is offering an interest rate of 4.40% on FDs of 4 years 7 months (55 months) to general citizens. While the interest rate for senior citizens in the same period is 7.90%.
HDFC Bank FD Interest Rate Hike: If you are thinking of opening a fixed deposit account in HDFC Bank, then there is good news for you. After the budget was presented, HDFC, the largest private sector bank, has increased the interest rate given to customers on fixed deposits up to Rs 3 crore by 20 basis points. The new rates will be effective from July 24, 2024. After the hike, the bank is offering the highest interest rate of 7.40% for general citizens and 7.90% for senior citizens with a maturity period of up to 55 months.
HDFC Bank is offering 3% interest rate for general citizens on deposits maturing between 7 to 29 days. Deposits maturing between 30 to 45 days will get 3.50% interest, while FDs maturing between 46 days to six months will get 4.50% interest. The bank gives 5.75% interest rate on deposits maturing between six to nine months. At the same time, customers are being given 6% interest rate on deposits maturing between more than nine months and less than one year.
Change in interest rates
Deposits maturing between one year to less than 15 months will get 6.60% interest, while FDs maturing between 15 months to less than 18 months will get 7.10% interest. The bank gives 7.25% interest for a period of 18 months to less than 21 months. HDFC Bank is offering 7% interest rate on FDs maturing in 21 months to less than two years and eleven months.
Interest increased on FDs of this period
The bank has increased the interest rate on FDs of 2 years 11 months (35 months) period by 20 bps from 7.15% to 7.35% and on FDs of 4 years 7 months (55 months) period by 20 bps from 7.20% to 7.40%.
New FD rates for senior citizens
The bank is offering an interest rate of 4.40% to general citizens on FDs of 4 years 7 months (55 months). Whereas the interest rate for senior citizens in the same period is 7.90%.
