HDFC Bank to IndusInd Bank: These three banks have revised fixed deposit (FD) rates ahead of RBI policy meeting
The revision comes just ahead of the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) meeting on October 4-6, 2023
HDFC Bank has reduced fixed deposit interest rates on select tenures. After the latest revision, the bank is offering an interest rate ranging from 3% to 7.20 % to general customers on deposits maturing in 7 days to 10 years. Senior citizens will earn an interest rate of 3.5% to 7.75% on these deposits. These rates are effective from 1 October 2023. The bank has reduced the tenure on FD of 4 Years 7 months or 55 months by 5 bps. Earlier, India’s largest private sector bank was giving a 7.25 per cent interest rate to general citizens on FD of this particular tenure, and 7.75% to the elderly.