HDFC Bank cuts fixed deposit rates for second time in a month. Latest FD rates

Private sector lender HDFC Bank has revised interest rates on fixed deposit (FD) maturities below ₹2 crore with effect from today (30 August). This is the second time in a month that HDFC Bank has revised its FD rates. The bank offers interest rates from 3.50% to 7.10% on deposits, with maturities from seven days to 10 years. Senior citizens continue to get 50 basis points higher interest rates than the general public. According to the latest HDFC Bank FD rates, the bank is offering 3.50% interest rate on short-term deposits between 7 days and 14 days. For 15 days to 29 days maturity FDs, HDFC Bank is offering 4.25%, 30 days to 45 days 5.15%, 46 days to 60 days 5.65%, 61 days to 90 days 5.65%, 91 days to 6 months 5.65%, six months one day to nine months 6.25% and nine months one day to less than 1 year 6.35%.

HDFC Bank latest FD rates (below ₹2 crore) for general public

7 to 14 days-3.50%

15 to 29 days-4.25%

30 to 45 days-5.15%

46 to 60 days-5.65%

61 to 90 days-5.65%

91 days to 6 months-5.65%

6 months 1 day to 9 months-6.25%

9 months 1 day to less than 1 year-6.35%

HDFC Bank latest FD rates (below ₹2 crore) for general public for maturity between one year and two years

On FDs of 1 year, HDFC Bank is offering interest rate of 6.90%. On FDs between one year one day to two years, HDFC Bank is paying 6.80%.

1 year-6.90%

1 year 1 day to 2 years-6.80%

HDFC Bank latest FD rates (below ₹2 crore) for general public for maturity between two years and five years

On long-term FDs maturing in two and five years, HDFC Bank pays around 7% to 7.1% interest. For maturity period two years one day to three years, HDFC Bank gives 7.10% interest. For FDs maturing in three years one day to five years, the bank will offer an interest rate of 7.00%.

2 years 1 day to 3 years-7.10%

3 year 1 day to 5 years-7.00%

HDFC Bank latest FD rates (below ₹2 crore) for general public for maturity between five years and ten years

HDFC Bank offers an interest rate of 7.00% on FDs maturing in five years one day to ten years.

5 years 1 day to 10 years-7.00%

When you open a Fixed deposit with HDFC Bank, interest on term deposits is calculated as below

1) On a quarterly basis for deposits more than six months

2) Simple interest is paid at maturity for deposits less than or equal to 6 months.

3) Cumulative interest is calculated every quarter, and is added to the principal.

4) In case of monthly deposit scheme, the interest shall be calculated for the quarter and paid monthly at discounted rate over the standard FD Rate

State Bank of India (SBI), Punjab National Bank (PNB), Axis Bank, ICICI Bank, IDFC First Bank, Kotak Mahindra and Canara Bank also revised interest rates on retail fixed deposits this month.