HDFC Bank hikes FD interest rates by up to 75 bps: Check latest rates

#HDFC Bank hikes FD interest rates by up to 75 bps: Check latest rates

Khushi Times: HDFC Bank has increased fixed deposit (FD) interest rates after a gap of two months. HDFC Bank has hiked FD interest rate by up to 75 basis points, and the new interest rates are effective from October 11, 2022. These rates are applicable for FD amounts less than Rs 2 crore.

According to the HDFC Bank website, it has raised the FD interest rates for 7 to 29 days tenure from 2.75 percent to 3 percent, a 25 bps increase. The interest rate on fixed deposite maturing in 30 to 60 days has been raised by 25 basis points, from 3.25% to 3.50 %. On fixed deposits due in 61 days to 89 months, HDFC Bank will now offer an interest rate of 4 percent, from earlier 3.25%, an increase of 75 bps.

On fixed deposits with a tenure of 90 days to 6 months, HDFC Bank will now offer an interest rate of 4.25%, up from 3.7% previously. One year to two year FD tenure will now earn 5.50% from 5.35%, an increase of 15 basis points. Tenure of two years, one day to three years FDs will continue to earn 5.50 percent. The bank has hiked interest rate by 40 bps for the tenure three-year one day to five years to 6.10% from 5.70 % earlier.


The interest rate on fixed deposits maturing in 6 months, 1 day to 9 months has been increased from 4.65 percent to 5%. The interest rate on term deposits maturing in 9 months, 1 day to less than 1 year has been increased from 4.65% to 5%, a 35 basis point increase.

On fixed deposits maturing in one year to less than two years, the bank will now offer an interest rate of 5.70%, up from 5.50%, a 20 basis point rise. Deposits that mature in two years, one day, to three years will now earn an interest rate of 5.80% up from 5.50% previously, an increase of 30 basis points.

The interest rate for term deposits maturing in 3 years, 1 day to 5 years will continue to fetch 6.10%, while the interest rate for deposits maturing in 5 years, 1 day to 10 years will now get 6%, instead of 5.75%.



Source: HDFC Bank

Premature Closure

According to the HDFC Bank website, “For Premature Closure (for all amounts, and for including Sweep In / Partial Withdrawal), the final rate applicable will be 1% Below that of the lower of either: a) the rate for the original /contracted tenor for which deposit has been booked or b) the base rate applicable for the tenor for which the deposit has been in force with the bank except for the deposits booked with tenor 7-14 days.”

Senior citizens

On deposits maturing in 7 days to 10 years, HDFC Bank offers elderly customers an additional rate benefit of 0.50 percent over the standard rate.

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