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HDFC Bank has again hiked the interest rates on fixed deposits (FDs). The increased rates of interest are applicable on FDs starting from 12 January 2022. HDFC Bank has increased the rates on select tenors.

After the latest revision, HDFC Bank is offering a 2.50% interest rate on deposits between 7 days and 29 days, and 3 % on deposits maturing in 30-90 days. On 91 days to 6 months, 3.5% and on 6 months 1 day to less than one year, 4.4%. The bank gives 4.9% on FDs maturing in one year.

On deposits maturing in one year and two years, HDFC Bank gives a 5% interest rate.

Earlier, the bank had revised FD rates by 10 basis points (bps) on deposits maturing in one year and two years on 1 December 2021.

FDs maturing in 2 years to 3 years will now give 5.20%. The bank has also hiked interest rates on deposits maturing in 3 years to 5 years. These deposits will give 5.40%, Deposits with maturity period 5 years to 10 years will give 5.60% interest. The interest rates on FD of other tenure remains unchanged

HDFC Bank latest FD interest rates effective 12 January 2022

7 - 14 days 2.50%

15 - 29 days 2.50%

30 - 45 days 3%

61 - 90 days 3%

91 days - 6 months 3.5%

6 months 1 day - 9 months 4.4%

9 months 1 day < 1 Year 4.4%

1 year - 4.9%

1 year 1 day - 2 years 5%

2 years 1 day - 3 years 5.20%

3 year 1 day- 5 years 5.40%

5 years 1 day - 10 years 5.60%

State Bank of India (SBI) has increased interest rates on FD by up to 10 basis points (bps). The interest rate on fixed deposits for tenure 1 year to less than 2 years has been increased to 5.1 per cent from 5.0 per cent. The new rate is effective from January 15, 2022.

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