HDFC Bank Fixed Deposit Rates Hiked

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    The HDFC Bank has announced a hike in interest rates on term deposits of up to 100 basis points (1 percent). The interest rates have also been increased for term deposits made by senior citizens and those that are over Rs 1 crore in value.

    HDFC Bank Fixed Deposit Rates Hiked

    This move comes almost a month after another leading lender in India, SBI increased its interest rates on fixed deposits by 25 basis points. Read: SBI Raises Interest Rates on Fixed Deposits SBI Raises Interest Rates on Fixed Deposits

    The increase in interest rates on deposits also indicates that there could be an increase in borrowing rates (on loans) in the future.

    The HDFC Bank interest rates for term deposits less than Rs 1 crore are mentioned below:

    Period Interest Rate p.a  Senior Citizens Interest Rate p.a
    7 - 14 days 3.50% 4.00%
    15 - 29 days 4.25% 4.75%
    30 - 45 days 5.50% 6.00%
    46 - 60 days 5.75% 6.25%
    61 - 90 days 5.75% 6.25%
    91 days - 6 months 5.75% 6.25%
    6 months 1 day- 6 months 3 days 6.00% 6.50%
    6 months 4 days 6.00% 6.50%
    6 months 5 days- 9 months 6.00% 6.50%
    9 months 1 day- 9 months 3 days 6.00% 6.50%
    9 months 4 days 6.00% 6.50%
    9 months 5 days - 9 months 15 days 6.00% 6.50%
    9 months 16 days 6.25% 6.75%
    9 months 17 days < 1 Year 6.25% 6.75%
    1 Year 6.85% 7.35%
    1 year 1 day - 1 year 3 days 6.50% 7.00%
    1 year 4 days 6.25% 6.75%
    1 year 5 days - 1 Year 15 Days 6.25% 6.75%
    1 Year 16 days 6.25% 6.75%
    1 year 17 days - 2 Years 7.00% 7.50%
    2 years 1day - 2 Years 15 days 7.00% 7.50%
    2 Years 16 days 7.00% 7.50%
    2 years 17 days - 3 Years 7.00% 7.50%
    3 years 1day - 5 years 7.00% 7.50%
    5 Years 1 Day - 8 Years 6.00% 6.50%
    8 Years 1 Day - 10 Years 6.00% 6.50%

    The HDFC Bank interest rates for term deposits more and or equal to Rs 1 crore and greater than Rs 5 crore are mentioned below

    Period Interest Rate p.a Senior Citizens Interest Rate p.a
    7 - 14 days 4.25% 4.75%
    15 - 29 days 4.25% 4.75%
    30 - 45 days 6.25% 6.75%
    46 - 60 days 6.50% 7.00%
    61 - 90 days 6.50% 7.00%
    91 days - 6 months 6.55% 7.05%
    6 months 1 day- 6 months 3 days 6.75% 7.25%
    6 months 4 days 6.75% 7.25%
    6 months 5 days- 9 months 6.75% 7.25%
    9 months 1 day- 9 months 3 days 6.85% 7.35%
    9 months 4 days 6.85% 7.35%
    9 months 5 days - 9 months 15 days 6.85% 7.35%
    9 months 16 days 6.85% 7.35%
    9 months 17 days < 1 Year 6.85% 7.35%
    1 Year 4.90% 5.40%
    1 year 1 day - 1 year 3 days 7.10% 7.60%
    1 year 4 days 7.10% 7.60%
    1 year 5 days - 1 Year 15 Days 7.25% 7.75%
    1 Year 16 days 7.25% 7.75%
    1 year 17 days - 2 Years 7.25% 7.75%
    2 years 1day - 2 Years 15 days 7.25% 7.75%
    2 Years 16 days 7.25% 7.75%
    2 years 17 days - 3 Years 7.25% 7.75%
    3 years 1day - 5 years 6.85% 7.35%
    5 Years 1 Day - 8 Years 6.85% 7.35%
    8 Years 1 Day - 10 Years 6.85% 7.35%

    Notes:

    • The above interest rates are applicable on domestic, NRO and NRE term deposits.
    • These interest rates are applicable from 25th of April 2018.
    • When you open a Fixed deposit with HDFC Bank, interest on term deposits is calculated as below

    1) On a Quarterly basis for deposits >= 6 months
    2) Simple interest is paid at maturity for deposits < 6 months.
    3) Cumulative Interest/ re-investment interest is calculated every quarter, and is added to the Principal such that Interest is paid on the Interest earned in the previous quarter as well.
    4) In case of monthly deposit scheme, the interest shall be calculated for the quarter and paid monthly at a discounted rate over the Standard FD Rate

    • Senior Citizens rates are only for Indian residents above 60 years of age and not on NRIs.

    For interest rates on term deposits above Rs 5 crore, please website HDFC Bank's official website.

    Source: www.hdfcbank.com

     

    Read more about: hdfc hdfc bank fixed deposits
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