HDFC Bank raises Fixed Deposit Interest Rates twice in a week
India’s largest private sector lender HDFC Bank has increased its fixed deposit interest rates again, within one week of doing the same. The HDFC Bank FD rate rise is applicable on deposits less than Rs 2 crore. The new HDFC Bank fixed deposit interest rates have already come into effect, as per its website. This has been implemented across different tenors. Senior citizens will receive extra interest on HDFC Bank fixed deposits.
The HDFC Bank FD interest rates have come into effect from June 17, Friday. This comes as a direct consequence of the RBI hiking its repo rates by 50 basis points. After the latest hike by the lender, HDFC Bank FD rates have increased from 2.50 per cent to 2.75 per cent for tenures between 7 to 29 days, which is a 25 basis points increase. The lender has raised the interest rate on fixed deposits maturing between 30 to 90 days by 25 basis points, from 3 per cent to 3.25 per cent now. For deposits maturing between 91 days to 6 months, a hike of 25 basis points have moved the interest rates from 3.25 per cent to 3.75 per cent. Deposits maturing in other tenures too have seen a hike of 10 to 25 basis points, HDFC Bank said on its website.