HDFC Bank hikes interest rates on fixed deposits (FDs): Check latest rates here
The bank made the announcement today, May 18th, 2022, and as a result of the modification, interest rates on different tenors have been raised.
PremiumHDFC Bank, the country's largest private sector lender, has increased interest rates on fixed deposits below ₹2 crore. The new rates are effective as of May 18th, 2022, and as a result of the modification, interest rates on different tenors have been raised. HDFC Bank will continue to provide 2.50 per cent interest on deposits maturing in 7 to 29 days. The interest rate on term deposits maturing in 30 to 90 days will remain constant at 3.00 per cent. The general public will continue to receive a 3.50 per cent interest rate on term deposits maturing in 91 days to 6 months, and the bank will continue to give a 4.40 per cent interest rate on term deposits maturing in 6 months-1 days to 9 months.
The bank used to give a 4.40 per cent interest rate on term deposits maturing in 9 months and 1 day less than a year, but that rate has now been raised to 4.50 per cent, a hike of 10 bps. On deposits maturing in one to two years, HDFC Bank will continue to give a 5.10 per cent interest rate. Previously, the interest rate on deposits maturing in 2 years 1 day - 3 years was 5.20 per cent, but it has been increased by 20 basis points to 5.40 per cent. On deposits maturing in 3 years 1 day to 5 years, HDFC Bank will now pay an interest rate of 5.60 per cent, up from 5.45 per cent previously, a rise of 15 bps.
The interest rate for deposits maturing in 5 years 1 day - 10 years previously was 5.60 per cent, but it has now been increased by 15 basis points to 5.75 per cent. On deposits of 7 days to 5 years, senior citizens will continue to receive an existing premium of 0.50 per cent, whereas on deposits of 5 years 1 day - 10 years, which is a special fixed deposit scheme named Senior Citizen Care FD by HDFC Bank, the interest rate will be 0.25 per cent higher than the existing premium of 0.50 per cent, which will be in effect until September 30, 2022. The interest rate on Senior Citizen Care FD was formerly 6.35 per cent, but it has now been increased to 6.50 per cent for senior citizens.
HDFC Bank FD Rates 2022
HDFC Bank will provide the following interest rates on domestic term deposits of less than ₹2 crore as of May 18, 2022.
7 - 14 days- 2.50%
15 - 29 days- 2.50%
30 - 45 days- 3.00%
46 - 60 days- 3.00%
61 - 90 days- 3.00%
91 days - 6 months- 3.50%
6 months 1 days - 9 months- 4.40%
9 months 1 day < 1 Year- 4.50%
1 Year- 5.10%
1 year 1 day - 2 years- 5.10%
2 years 1 day - 3 years- 5.40%
3 year 1 day- 5 years- 5.60%
5 years 1 day - 10 years- 5.75%
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