HDFC Bank raises interest rates; details here

Private lender HDFC Bank has raised interest rates on term deposits to less than Rs 2 crore over a few maturities, according to its official website. These changes are effective April 6, 2022.

Interest rates may change from time to time. Applicable interest rates are quoted on the date/time the money is received by the bank,” the website reads.

The bank raised interest rates on one-year FD by 10 basis points from 5 percent in February to 5.10 percent in April. For one year one day to two year FD interest rates were also raised by 10 basis points to 5.10 percent. The interest rate for seniors who hold these FDs (one year and one year, one day to two years) is 5.60 percent.

The interest rates for three 1 day to 5 year FD and 5 year 1 day to 10 year FD are 5.45% and 5.60% respectively. Seniors with these FDs receive 5.95 percent and 6.35 percent, respectively.

In the case of a general FD with a duration of 7 to 29 days, the bank offers an interest rate of 2.50 percent to those under the age of 60, while it offers an interest rate of 3 percent to seniors. The private lender offers 3 percent interest to customers with 30-90 day terms, while seniors get 3.50 percent interest in this case.

The bank offers 3.50 percent interest rate for 91 days to 6 months FDs while offering a 4.40 percent interest rate for 6 months 1 day to 9 months and 9 months 1 day to less than 1 year FDs.

Also Read: HDFC Bank Raises Fixed Deposit Rates by 5-10 basis points; Check prices here

Also Read: HDFC Bank to Announce Results for Q4FY22 on April 16th

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