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Private lender HDFC Bank has increased the interest rates on fixed deposits of less than 2 crore on some tenures, according to the lender's website. The new fixed deposit (FD) rates are with effect from 6 April 2022.

According to the bank's website, HDFC Bank has increased its one-year FD interest rate by 10 basis points to 5.10 per cent from 5 per cent, and its one year one day to two years FD has also been hiked by 10 basis points to 5.10 per cent from 5 per cent.

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 - 5.10%

1 year 1 day - 2 years 5.10%

2 years 1 day - 3 years 5.20%

3 year 1 day- 5 years 5.45%

5 years 1 day - 10 years 5.60%

HDFC Bank will offer a 2.50 per cent interest rate on deposits maturing in 7 to 29 days to the general public. The regular interest rate on term deposits maturing in 30 to 90 days will be 3%. On deposits maturing in 91 days to 6 months, HDFC Bank is giving a 3.50 per cent interest rate. The bank will now provide a 4.40 per cent interest rate on term deposits maturing in 6 months 1 day - 9 months and 9 months 1 day to less than 1 year. On deposits maturing in two years, one day to three years, three years, one day to five years, and five years, one day to ten years, the interest rates applicable are 5.20%, 5.45% and 5.60% respectively.

Customers of HDFC Bank should be aware that the bank has also revised the interest rate on the savings account.

In February, HDFC Bank had hiked interest on term deposits on a few tenors.

The Reserve Bank of India (RBI) is likely to keep the latest repo and reverse repo rates unchanged in the first bi-monthly policy review meeting of this fiscal on 8 April.

 

 

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