Home Interest rate HDFC Bank is revising the interest rates on these term deposits: Details inside

HDFC Bank is revising the interest rates on these term deposits: Details inside

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Interest rates on term deposits of more than 2 crore to 5 crore was reviewed by private sector lender HDFC Bank. According to the bank’s official website, the new rates come into effect on August 25, 2022. Following the revision, the bank now offers an interest rate on term deposits with maturities of 7 days to 10 years of 3.50 % to 5.90% for the general public. and from 4.00% to 6.65% for seniors.

HDFC Bank FD Rates

On fixed deposits maturing in 7 days to 29 days, the bank now offers an interest rate of 3.50% and on fixed deposits maturing in 30 to 45 days, the bank now promises an interest rate of interest of 3.60%. Fixed deposits maturing in 46-60 days will now earn an interest rate of 4.00% and term deposits maturing in 61-89 days will now earn an interest rate of 4.75% . HDFC Bank will now offer an interest rate of 5.25% on term deposits with a maturity of 90 days to 6 months and the bank will now promise an interest rate of 5.50% on term deposits with a maturity of 6 months from 1 day to 9 months. The bank will now grant an interest rate of 5.70% on term deposits with maturities of 9 months, 1 day to 1 year and 6.05% on term deposits with maturities of 1 year to 3 years. Term deposits with maturities between three and five years will now earn an interest rate of 6.10% from HDFC Bank, while term deposits with maturities between five and ten years will now receive an interest rate of 5.90%.

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HDFC Bank FD Rates (hdfcbank.com)

On these grouped deposits, HDFC Bank also offers an additional rate of 0.50% on term deposits with a maturity of 7 days to 5 years and an additional interest rate of 0.75% on term deposits with a maturity of 5 to 10 years. For the same, HDFC Bank has mentioned on its website considering the elderly that “an additional premium of 0.25% (on top of the existing premium of 0.50%) will be given to senior citizens who wish to book the fixed deposit less than 5 crores for a term of 5 (five) years One day to 10 years, during a special deposit offer commencing from 18th May 2020 to 30th September 2022. This special offer will be applicable to new Fixed Deposits reserved as well only at Renewals, by Seniors during the above period. This offer does not apply to non-resident Indians.”

On August 18, 2022, HDFC Bank last raised interest rates on term deposits below 2 cr. In line with the review, the bank raised interest rates by up to 40 basis points (bps) for a variety of terms. For term deposits with maturities ranging from seven days to ten years, the bank now offers interest rates ranging from 2.75% to 5.7% for non-seniors and 3.2% 6.5% for seniors.

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