[ad_1]
For the second time this month, the private sector lender HDFC Bank increased the interest rates on fixed and recurring deposits. According to the bank’s official website, the new rates will take effect on October 26, 2022. The bank last hiked its interest rates on 11th October. Fixed deposit interest rates have increased by up to 50 basis points (bps) at HDFC Bank, and recurring deposit interest rates have increased by up to 45 bps for all tenors. Following today’s increase, HDFC Bank is now providing general customers with interest rates on deposits maturing in 7 days to 10 years that range from 3% to 6.20%.
HDFC Bank RD Rates
HDFC Bank has hiked its interest rates on recurring deposits (RDs) across all tenors. On deposits maturing in 6 months, the bank has hiked the interest rate by 25 bps from 4.25% to 4.50% and on deposits maturing in 9 months, HDFC Bank has hiked the interest rate by 25 bps from 5% to 5.25%. Deposits maturing in 12 Months will now fetch an interest rate of 6.10% which was earlier 5.70% which represents a hike of 40 bps and those maturing in 15 Months to 24 Months will now fetch an interest rate of 6.15% which was earlier 5.70% representing a hike of 45 bps.
HDFC Bank has hiked its interest rates from 5.80% to 6.25% representing a hike of 45 bps on deposits maturing in 27 Months to 36 Months and on deposits maturing in 39 Months to 60 Months the bank has hiked interest rate by 15 bps from 6.10% to 6.25%. Deposits maturing in 90 Months to 120 Months will now fetch an interest rate of 6.20% which was earlier 6% a hike of 20 bps.
View Full Image
HDFC Bank FD Rates
On certain tenors of fixed deposits with less than ₹2 Cr, the bank has increased interest rates by up to 50 bps as of today, October 26, 2022. On deposits maturing in 2 years, 1 day to 5 years, HDFC Bank will give a maximum interest rate of 6.25% to the general public, while the bank is also offering senior citizens a maximum interest rate of 6.95% on deposits maturing in 5 years, 1 day to 10 years.
Following today’s hike, the bank has increased interest rates on deposits maturing in 46 to 60 days by 50 bps, from 3.50% to 4.00%, and on deposits maturing in 61 to 89 days by 50 bps, from 4% to 4.50%. For deposits maturing in 90 days to six months, HDFC Bank increased interest rates by 25 basis points, from 4.25% to 4.50%, and for deposits maturing in six months and one day to nine months, from 5% to 5.25%.
The bank has hiked the interest rate by 50 bps from 5% to 5.50% on deposits maturing in 9 months 1 day to 1 Year and those maturing in 1 Year to 15 months will now fetch an interest rate of 6.10%. Deposits with maturities between 15 months and 2 years will now provide an interest rate of 6.15%, while those with maturities between 2 years and 3 years will now pay an interest rate of 6.25%, up from 5.80% before, a 45 basis point increase.
On deposits maturing in 3 Years, 1 Day to 5 Years, HDFC Bank has increased the interest rate by 15 bps, moving it from 6.10% to 6.25%. On deposits that mature in 5 Years, 1 Day to 10 Years, HDFC Bank has increased the interest rate by 20 bps, moving it from 6% to 6.20%.
View Full Image
Download The Mint News App to get Daily Market Updates.
[ad_2]
Source link
