HDFC Bank hikes fixed deposit rates: Check here

Just ahead of RBI monetary policy committee meeting, HDFC Bank, the country’s largest private sector lender, has hiked the interest rates on fixed deposits (FDs) for select tenures. They have hiked interest rates on their fixed deposits (FDs) by 0.10 percentage point. These rates are applicable from December 1, 2021.

After the latest revision, HDFC Bank is offering 2.50% to 5.50% interest rate on deposits maturing between seven days and 10 years to general public. But senior citizens will get 3% to 6.25% interest.

Let’s take a look at tenure-wise interest rates for general public deposit less than 2 crore:

7 days to 14 days, 15 days to 29 days: 2.50%

30 days to 45 days, 46 days to 60 days, 61 days to 90 days: 3.00%

91 days to 6 months: 3.50%

6 months 1 days to 9 months, 9 months 1 day to < 1 year: 4.40%

1 year: 4.90%

1 year 1 day to 2 years: 5.00%

2 years 1 day to 3 years: 5.15%

3 years 1 day to 5 years: 5.35%

5 years 1 day to 10 years: 5.50%

Compare

Fixed deposit in State Bank of India (SBI) between seven days to 10 years will give 2.9% to 5.4% interest to general customers. It offers up to 80 bps or 0.80 percentage point extra interest rates ranging from 3.40% to 6.20% on FDs to senior citizens.

ICICI Bank has also very recently revised FD rates. Now they are offering 2.5% to 5.5% interest for tenures between seven days and 10 years for general customer.