Active Stocks
Fri Apr 12 2024 15:57:45
  1. Tata Steel share price
  2. 163.50 -1.00%
  1. NTPC share price
  2. 362.00 -0.32%
  1. ITC share price
  2. 430.10 -1.56%
  1. HDFC Bank share price
  2. 1,518.90 -1.10%
  1. State Bank Of India share price
  2. 766.75 -1.57%
Business News/ Money / Personal Finance/  HDFC Bank revises FD interest rates; check latest rates here
BackBack

HDFC Bank revises FD interest rates; check latest rates here

The private sector bank offers special interest rate of 7.20 percent on a tenure of 35 months and 7.25 per cent of 55 months. The new rates will come into effect from Feb 9 i.e., Friday.

When the FD tenure rises up to 5 years, HDFC Bank offers an interest of 7 per cent for regular citizens and 7.50 percent for senior citizens. (Bloomberg)Premium
When the FD tenure rises up to 5 years, HDFC Bank offers an interest of 7 per cent for regular citizens and 7.50 percent for senior citizens. (Bloomberg)

Notwithstanding the Reserve Bank of India (RBI) keeping repo rate constant at 6.5 percent, HDFC Bank has raised its interest rates on fixed deposits (FDs). The new rates will come into effect from Feb 9 i.e., Friday.

The private sector bank offers special interest rate of 7.20 percent on a tenure of 35 months and 7.25 per cent of 55 months.

On a one-year term deposit, the bank offers 6.60 percent to regular citizens and 7.10 percent to senior citizens.

The interest rate rises to 7.10 percent on a tenure of 15 months to 18 months. The interest rate rises further 7.25 percent on FDs with tenure of 18-21 months.

When the tenure is between 21 months to 2 years 11 months, the interest rate is 7 percent. When the tenure increases to 2 years 11 months to 35 months, the interest rate is 7.15 per cent.

On a tenure between 2 years 11 months 1 day to 4 years 7 months, interest rate is 7 per cent. On a tenure between 4 years 7 months to 55 months, the bank offers interest rate of 7.20 percent.

The new FD interest rates will come into effect from Feb 9, 2024.
View Full Image
The new FD interest rates will come into effect from Feb 9, 2024.

And when the tenure rises further up to 5 years, the interest rate is 7 per cent for regular citizens and 7.50 percent for senior citizens.

On short term deposits, the private sector bank offers an interest rate that ranges between 3 to 6 percent.

For instance, on a tenure between 7 days to 29 days, interest rate is 3 percent and on a tenure between 46 days to 6 months, HDFC Bank offers 4.5 per cent.

Notably, senior citizen rates do not apply to Non Resident Indians (NRIs) and minimum tenure for NRE deposit is 1 year.

Other FD rate hikes

Recently, IndusInd Bank revised its interest rates on fixed deposits of less than 2 crore with effect from Feb 6.

Additionally, Axis Bank has hiked the fixed deposit interest rates for amounts below 2 crore with effect from Feb 5, 2024.

 

 

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 09 Feb 2024, 01:24 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App