HDFC Bank Hikes FD Interest Rates For The Second Time In A Month

HDFC Bank has decided to increase the interest rates on Fixed Deposits as per their official website. As per the HDFC website, the increased interest rates will be applicable starting from October 26, 2022. Previously, HDFC had increased their Fixed Deposit interest rates on October 11, 2022. As for the recent increase in the rates, the HDFC bank FD rates have been increased by 50 basis points (BPs). After the recent increase in FD interest rates, the HDFC bank is now providing interest rates ranging from 3% to 6.20% to the general public for FDs with tenures of 7 days to 10 years. Senior citizens are also applicable for higher interest rates that are at least 0.50% higher than regular FD interest rates.

Let’s take a look at the increased interest rates for HDFC bank Fixed Deposits under ₹2 crore, as per the bank’s official website:

• FDs ranging from 7 days to 14 days: The interest rate has been increased to 3.00% per annum. For senior citizens, the interest rate has been updated to 3.50% per annum, for the same tenure. 

• For FDs ranging from 15 days to 29 days: The interest rate has been increased to 3.00% per annum. As for senior citizens, the interest rate has been increased to 3.50% per annum for the same tenure. 

• For FDs ranging from 30 days to 45 days: The interest rate for FDs has been increased to 3.50% per annum. As for senior citizens, the interest rate has been updated to 4.00% per annum for the same tenure. 

• For FDs ranging from 46 days to 60 days: The interest rate for FDs has been updated to 4.00% per annum. As for senior citizens, the interest rate has been updated to 4.50% for the same FD tenure. 

• For FDs ranging from 60 days to 89 days: The interest rate for FDs has been increased to 4.50%. For senior citizens, the FD interest rate has been increased to 5.00% for the same tenure. 

• For FDs ranging from 90 days to 6 months: The interest rate for FDs has been increased to 4.50% As for senior citizens, the interest rate for FDs of the same tenure has been increased to 5.00%. 

• For FDs ranging from 6 months 1 day to 9 months: The interest rate has been updated to 5.25% per annum for regular FDs. As for senior citizen FDs, the interest rate has been increased to 5.75% per annum for the same tenure. 

• For FDs ranging from 9 months 1 day to less than 1 year: The interest rate has been updated to 5.50% per annum for regular FDs. For senior citizen FDs, the interest rate has been increased to 6.00% per annum for the same tenure. 

• For FDs from 1 year to 15 months: The interest rate has been updated to 6.10% per annum for regular FDs. As for senior citizen FDs, the interest rate has been increased to 6.60% per annum for the same tenure. 

• For FDs ranging from 15 months to2 years: The interest rate for FDs has been increased to 6.15%. For senior citizens, the FD interest rate has been increased to 6.65% for the same tenure. 

• For FDs of exactly 599 days: The interest rate has been updated to 7% per annum for regular FDs. As for senior citizen FDs, the interest rate has been increased to 7.50% per annum for the same tenure. 

• For FDs ranging from 2 years 1 day to 5 years: The interest rate for FDs has been increased to 6.25% As for senior citizens, the interest rate for FDs of the same tenure has been increased to 6.75%. 

• For FDs ranging from more than 2 years to 5 years: The interest rate has been updated to 6.70% per annum for regular FDs. As for senior citizen FDs, the interest rate has been increased to 7.20% per annum for the same tenure. 

• For FDs ranging from more than 5 years 1 day to 10 years: The interest rate has been updated to 6.20% per annum for regular FDs. As for senior citizen FDs, the interest rate has been increased to 6.95% per annum for the same tenure.

Disclaimer: The interest rates have been recorded at the time of writing from the bank’s official website and are subject to change in the future.