HDFC Bank has revised its fixed deposit interest rates effective 22 July
The bank is offering an additional 50 basis points in interest rates to senior citizens on fixed deposits
HDFC Bank has revised its fixed deposit interest rates below ₹2 crore on select maturities with effect from 22 July. India's largest private lender offers interest rates ranging from 3.50% p.a. to 7.30% p.a. on deposits maturing in seven days to 10 years, across various tenures. For deposits maturing in seven days to 20 days, the rate remains unchanged at 4.25%. HDFC Bank has revised the interest rate applicable to maturity periods such as 30 days to 6 months, 6 months to one year, and also on the long-term tax-saving FDs, according to the lender's website.
HDFC Bank is offering an interest rate of 5.50% to general public and 6.00% to senior citizens on fixed deposits of 30-45 days. Previously, the private lender paid interest rates of 5.75% and 6.25% to the general public and senior citizens respectively. For FDs of 46 days to 6 months, HDFC Bank has reduced the interest rate from 6.25% to 6.00% now.
On fixed deposits of a one-year maturity period, the private sector bank has lowered its interest rates by 20 basis points. After 22 July's revision, HDFC Bank is offering interest at the rate of 7.10% to the general public. Senior citizens get an additional rate of interest of 0.5% on their deposits across all maturities.
For deposits maturing in 1 year to 2 years, HDFC Bank has lowered its interest rate by 10 basis points. After the recent revision, the bank is offering an interest rate of 7.20%, from 7.3% earlier.
For deposits maturing in two to three years, HDFC Bank will now offer an interest rate of 7.30%, from 7.4% earlier.
HDFC Bank has kept the interest rates unchanged on FDs maturing in three to five years at 7.25%.
For term deposits maturing in 5 years to 10 years, the private lender has increased its existing rate by 50 basis points. The bank is offering an interest rate of 7.00% on these long-term deposits.