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HDFC Bank Hikes Fixed Deposit (FD) Interest Rates By Up To 35 Bps

HDFC bank has raised its FD interest rates once again. Read on to know the latest interest rates in detail.

<div class="paragraphs"><p>Source: Rawpixel.com on Freepik</p></div>
Source: Rawpixel.com on Freepik

HDFC Bank raised interest rates on fixed deposits (FDs) once again within 15 days of its previous hike. According to the bank's official website, HDFC Bank increased its fixed deposit interest rate by up to 35 basis points. The new rates have taken effect from November 8, 2022. The bank raised interest rates by up to 35 bps on deposits with maturities between 15 months and 10 years after the revision. At present, HDFC Bank offers interest rates on fixed-term deposits maturing in 7 days to 10 years that range from 3.50% to 7.00% for senior citizens and from 3% to 6.25% for the general public.

HDFC Bank FD Interest Rates

Let us take a closer look at the revised FD interest rates offered by HDFC Bank:

  • For fixed deposits ranging from 7-14 days: For this duration, the general FD interest rates are 3%. Senior citizens can also get FDs with 3.50% interest rates for the same tenure. 

  • For fixed deposits ranging from 15-29 days: The general FD rate for this duration is 3% per annum. As for senior citizens, the interest rate remains at 3.50%.

  • For fixed deposits ranging from 30-45 days: The general FD rate for this time period is 3.50% per annum. For senior citizens, the FD interest rate remains at 4%.

  • For fixed deposits ranging from 46-60 days: The general FD interest rate for this time frame is 4% per annum. The interest rate for senior citizens for the same tenure is 4.50%.

  • For fixed deposits ranging from 61-89 days: The general FD rate for this term is 4.50% per annum and for senior citizens, the interest rate is 5% for the same term.

  • For fixed deposits ranging from 90 days to less than 6 months: The general FD interest rate for this time period is 4.50% per annum. The interest rate for senior citizens is 5% for the same term.

  • For fixed deposits ranging from 6 months 1 day to less than 9 months: The general interest rate for this time period is 5.25% per annum. As for senior citizens, the interest rate is 5.75% for the same term.

  • For fixed deposits ranging from 9 months 1 day to less than a year: The general FD interest rate is 5.50% per annum for this duration. The interest rate for senior citizens is 6% for the same term.

  • For fixed deposits ranging from 1 year 1 day to less than 15 months: The general FD interest rate for this tenure is 6.10% per annum. For senior citizens, the interest rate is calculated at 6.60%.

  • For fixed deposits ranging from 15 months 1 day to less than 18 months: The general FD interest rate for this tenure is 6.40% per annum. The interest rate for senior citizens is 6.90% for the same term.

  • For fixed deposits ranging from 18 months to less than 21 months: The general FD interest rate is calculated at 6.50% per annum. As for senior citizens, the interest rate for the same term is 7%.

  • For fixed deposits ranging from 21 months 1 day to less than 2 years: The general FD interest rate for this time period remains at 6.50% per annum. The interest rate for senior citizens also remains at 7% for the same term.

  • For fixed deposits ranging from 2 years 1 day - 3 years: The general FD interest rate for this time period remains at 6.50% per annum. As for senior citizens, the interest rate stays at 7%.

  • For fixed deposits ranging from 3 years 1 day - 5 years: The general FD interest rate is 6.50% per annum for this tenure. The interest rate for senior citizens remains at 7% for the same term.

  • For fixed deposits ranging from 5 years 1 day - 10 years: The general FD interest rate for this time period is 6.25% per annum. The interest rate for the same tenure for senior citizens is 7%.

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 Note: Only senior citizens and retired employees who are residents and at least 60 years old are eligible. Also, only deposits made by residents are eligible for the discounted rates. However, keep in mind that the aforementioned interest rates could change from time to time at the discretion of the bank.

Disclaimer: The interest rates mentioned in this article are recorded at the time of writing and are subject to change. BQ Prime does not endorse any of the schemes mentioned above. Please invest at your own discretion.